Weekly Meat Market Update 6-12

Author: Marvale Jones

Date: June 12, 2017

Last week’s slaughter was at 550,000 head with the live cash trading at weekly weighted average of $136.27/Cwt. This week’s slaughter is projected to be around 615,000 head with packer’s bidding the live cash trade at $134/Cwt. Actual trade is expected to come in at or near steady at $136/Cwt.
Ribs are holding strong with packers continuing to push pricing higher. Loin meat seems to have plateaued and is trading mostly steady. End cuts are clearing mostly steady with grind starting to level off and even seen at discounting prices.
Loins – Just Steady
Rounds – Steady
Chucks – Just Steady
Grinds – Just Steady
Ribs – Steady

 

Rounds
Prices remained about steady to slightly lower on all round meats to end last week. Expect prices to remain steady into next week.

Insides- Prices held mostly steady to slightly lower last week due to decreased demand. This week prices are holding about steady due to increasing supplies and slower demand.

Flats- Prices held about steady to slightly lower last week with some slight increases as the week ended. Decreasing demand and increasing supplies will continue to see prices hold about steady.

Eyes- Eyes prices remained steady to slightly lower to end last week due to increasing supplies. Expect steady to slightly lower prices this week due to slower demand and increasing supplies.
 
Peeled Knuckles- Peeled Knuckles prices remained steady to slightly lower last week as demand has slowed and supplies are increasing. This week prices are holding about steady.

 

Loins
Prices remained about steady to slightly lower on all middle meats to end last week due to increasing inventories. Expect prices to start to remain about steady once again this week.

Strips- Strip prices remained steady to slightly lower last week. Expect prices to remain about steady into next week.

Short loins- Markets were about steady to slightly lower for Choice and stronger on Select Short loins. Expect these trends to continue due to increasing supplies and slower demand.

Top Butts-Top Butt prices remained about steady to end last week. Expect steady to slightly higher prices next week due to slightly stronger demand as processors are taking advantage of lower cattle prices.

Ball Tips- Prices were steady to slightly lower last week due to increasing supplies. This week prices have moved slightly higher as supplies are short of demand due to an uptick in demand from processors due to lower prices.
 
Tri Tips- Prices held about steady to end last week due to increasing supplies and slower demand. Expect prices to move slightly higher next week due to limited supplies and stronger processor demand.

Tenderloins- Prices remained about steady last week due to increased demand at lower prices. Expect prices to increase next week due to limited supplies and greater demand.

 

Ribs
Prices last week remained about steady on all sizes of Choice and Select Ribeyes. Expect prices to increase slightly heading into next week.

Ribeyes- Prices on all Choice and Select Ribeyes remained about steady due to increasing supplies and slower demand. Expect prices to start to rise as processors and retailer get ready for 4th of July business and retail ads.

BI Ribeye’s and 109 Ribs- Prices on all Bone-In Ribs remained about steady last week. Expect prices to increase slightly due to better demand at retail level as we move closer to the 4th of July holiday.

 

Chucks
Prices remained steady to slightly lower last week on all chuck meat due to slower demand and increasing supplies. All Thin Meats held about steady to slightly lower as well.

Chuck Rolls- Chuck Rolls prices were about steady to slightly lower last week as demand has slowed and supplies are increasing. Expect steady to higher prices next week as retailers feature first of the month ad features.

Clods- Markets held about steady to slightly lower last week due to slow demand. This week prices are holding about steady.

Chuck Tenders- Prices last week remained about steady to slightly lower. Expect prices to work back higher into next week due to greater demand and limited supplies at current price levels.

Teres Major- Prices moved slightly lower late last week. This week prices have moved slightly higher due to tighter supplies and increasing demand.

 

Thin Meats and Grinds
Flanks- Flank prices remained steady to slightly lower last week as demand has slowed. Expect steady to higher prices next week as demand should pick up moving forward.

Flap Meat- Flap Meat prices remained steady to slightly lower last week. This week prices have moved slightly higher due to tightening supplies and better demand.

Briskets- Brisket prices held mostly steady as supplies remain in check but demand has slowed. This week prices have moved slightly higher due to good demand at current prices.

Skirt Meat- All skirt prices remained steady to slightly higher last week with Outside Skirts being particularly strong. Expect prices to remain strong on all Skirts due to limited supplies.

Special Trim, Blade Meat and Pectoral Meat- Prices were slightly lower last week due to slow demand and increasing supplies. This week prices are holding about steady to slightly higher due to better demand at current price levels.

Grinds- Ground beef prices were about steady to last week as demand slowed and supplies are increasing on all blends. This week prices are holding about steady. Expect prices to remain steady for the next couple of weeks before they move sharply higher for 4th of July retail ads.

 

Pork
Last week’s harvest was at 1.972 million head on live cash cost of $56.76/Cwt. weighted average. This week’s kill is project to be around 1.98 million head as well with live cash cost at $57.45/Cwt. weighted average.
 
Hams maintain a barely steady to weak undertone based on Canadian offerings and sluggish international interest. Bellies and trimmings continue to see substantial support from lack of fresh supplies and strong seasonal demand. Overall interest in fresh pork has been rather limited in between the summer holidays, resulting in somewhat active spot market trading. Bone-In Loins are trading at mostly steady with some discounting seen on Boneless Loins. Butt values are expected to continue lower given generally widespread product offerings. Light ribs are expected to remain level, while interest in medium ribs begins to increase.
Hams – Steady
Bellies – Steady
Loins – Just Steady
Butts – Steady to Lower
Ribs – Steady

Loins- Bone-in Loin and Boneless Loin prices remained about steady last week. This week loin prices are holding just steady once again due to slow demand and adequate supplies.

Butts- Butt prices were steady to end last week as demand has slowed and supplies are increasing. Expect steady to lower prices into next week as well.

Ribs- Sparerib prices were steady to slightly higher last week on all sizes. This week prices have increased slightly due to stronger seasonal demand.

Trim- Prices ended the week about steady to slightly higher on leaner trim and lower on fat trim. This week prices are holding about steady but expect prices to lower slightly moving into next week as supplies grow.

Picnics- Market is steady on Boneless Picnics and steady on Cushion Meat.

Related Posts

Produce Update, July 25 – 30, 2016 View
Copper River Opens!! View
The Restaurant Formula – Video 4 View
Stave off cognitive decline with seafood View