Weekly Meat Market Update 5 – 8

Author: Marvale Jones

Date: May 8, 2017

Last week’s slaughter was at 624,000 head with the live cash trade mostly coming in at $135/Cwt. to $140/Cwt. This week’s slaughter is projected to be around 610,000 head with cash sale price trading between $145/Cwt. to $148/Cwt. Packer margins are in the red and getting pushed back on efforts to raise already higher than typical pricing.

Cutout values continue to climb but not enough to close the marginal gap. Packers are in an effort to push back on the live cost by cutting processing hours. Current boxed beef prices are up significantly across the board. The only point of note being that tenders are not trending up as sharply as many other cuts.
Loins – Steady to Higher
Rounds – Steady to Higher
Chucks – Steady to Higher
Grinds – Steady to Higher
Ribs – Fully Steady

 

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

Insides- Prices held mostly steady to slightly higher last week due to increased demand. This week prices are moving slightly higher due to an increase in demand and higher cattle prices.

Flats- Prices held about steady to slightly higher last week with some slight increases as the week ended. Increasing demand and limited supplies will continue to see prices rise.

Eyes- Eyes prices remained steady to slightly higher to end last week due to increasing demand and limited supplies. Expect steady to slightly higher 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 have increased again due to better demand and tight supplies.

 

LOINS
Prices remained about steady to sharply higher on all middle meats to end last week due to increasing demand and higher live cattle costs. Expect prices to start to rise as increased demand will move prices higher moving into the spring.
 
Strips- Strip prices remained steady to sharply higher last week on Choice and stronger on Select Strips as supplies are limited to demand has increased. Expect steady to higher prices into next week as well.

Short loins- Markets were about steady to sharply higher for Choice and stronger on Select Short loins. Expect these trends to continue due to increased demand and increasing cattle costs.

Top Butts- Top Butt prices remained steady to slightly higher to end last week. Expect steady to slightly higher prices next week due to strong demand and limited supplies.

Ball Tips- Prices were steady to sharply higher last week due to increased demand. This week prices have moved slightly higher as supplies are short of demand due to an uptick in demand for spring business.

Tri Tips- Prices held about steady to sharply higher to end last week due to increased demand and limited inventory. Expect prices to move slightly higher next week due to limited supplies and stronger processor demand.

Tenderloins- Prices remained about steady to slightly higher last week due to increased demand and higher cattle prices… Expect prices to remain steady to slightly into next week as well.

 

RIBS
Prices last week remained about steady to slightly higher 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 to slightly higher due to tightening supplies and stronger demand. This week prices are slightly higher as retailers are featuring for early spring ads. Expect prices to remain strong to higher into next week due to limited supplies and continued good demand.

BI Ribeye’s and 109 Ribs- Prices on all Bone-In Ribs remained about steady to slightly higher last week. Expect prices to increase slightly due to better demand and tighter supplies.

 

CHUCKS
Prices remained steady to slightly higher last week on all chuck meat due to better demand and limited supplies. All Thin Meats held about steady to slightly higher due to increased demand and higher cattle prices…

Chuck Rolls- Chuck Rolls prices were about steady to slightly higher last week as demand has increased and supplies are limited. Expect steady to higher prices next week as higher cattle costs are raising prices.

Clods- Markets held about steady to slightly higher last week due to strong processor and retail demand. This week prices have gone up once again due to better demand.

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

Teres Major- Prices moved slightly higher late last week. This week prices have moved higher due to tighter supplies and increasing demand. Expect higher prices for the next several weeks due to strong demand and continued tight supplies.

 

THIN MEATS AND GRINDS
Flanks- Flank prices remained steady to slightly higher last week due to demand remaining strong. Expect steady to higher prices next week as demand should pick up moving forward.

Flap Meat- Flap Meat prices remained steady to slightly higher 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 and rising cattle costs…

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 higher last week due to increasing cattle prices. This week prices are holding about steady to slightly higher due to good demand.

Grinds- Ground beef prices were about steady to slightly higher last week as demand has picked up and supplies are tight on all blends. This week prices have increased slightly due to greater demand.

 

PORK
Last week’s harvest was at 2.29 million head on live cash cost of $43.25/Cwt.weighted average. This week’s kill is project to be around 2.29 million head as well with live cash cost at $45.66/Cwt. weighted average.
Hams, Trimmings, Loins Butts and Picnics are called fully steady to firm for this week. Bellies and Ribs are called mostly steady, although wide ranges are possible.
Hams – Steady
Bellies – Just Steady
Loins – Steady
Butts – Steady
Ribs – Just 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 heading into spring.

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.

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