Weekly Meat Market Update 7 – 10

Author: Marvale Jones

Date: July 10, 2017

Live cattle prices traded last week at $121-$1.22 Cwt. Soft future prices as well as very soft boxed beef demand for delivery after the Fourth of July contributed to the much lower Live Cattle prices. Live Cattle prices are again expected to trade slightly lower this week due to soft demand. Future prices have been steady to somewhat stronger, which will keep any decrease in the cattle market limited.
Cutout values also declined sharply last week with prices heading down in the $7-$8 Cwt. range. Primarily weak were Choice Loin and Rib primals, as well as weakness that developed in the Round and Chuck cuts.

 

ROUNDS
Prices were steady to slightly lower on all round meats to end last week. Expect prices to remain steady to slightly lower into next week.

Insides- Prices moved slightly lower last week due to slow demand and lower cattle prices. This week prices are moving lower due to weak demand and increased supplies.

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

Eyes- Eyes prices remained steady to slightly lower to end last week due to increasing supplies and slow demand. Expect steady to slightly lower prices this week due to slower demand and increasing supplies once again.

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 and slower demand. Expect prices to start to remain about steady once again this week due to lower cattle prices.

Strips- Strip prices moved slightly lower last week due to anticipated softer demand after the holiday. Expect prices to remain about steady into next week due to slower demand, increasing supplies and lower live cattle prices.

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 and limited supplies.

Ball Tips- Prices were steady to slightly lower last week due to increasing supplies and lower cattle prices. Expect prices to remain soft next week as demand slows and supplies increase.

Tri Tips- Prices held about steady to end last week due to increasing supplies and slower demand. Expect prices to move slightly lower once again due to slow demand and lower cattle prices.

Tenderloins- Prices remained about steady last week due to increased demand at lower prices. Expect prices to remain steady or lower slightly due to lower cattle costs and increasing supplies.

 

RIBS
Prices last week remained about steady to slightly lower on all sizes of Choice and Select Ribeyes. Expect prices to continue to remain about steady due to lower live cattle prices.

Ribeyes- Prices on all Choice and Select Ribeyes moved slightly lower due to increasing supplies and slower demand. Expect prices to remain about steady moving into next week due to lower cattle prices.

BI Ribeye’s and 109 Ribs- Prices on all Bone-In Ribs remained about steady to slightly lower last week. Expect prices to remain about steady next week.

 

CHUCKS
Prices remained steady to slightly lower last week on all chuck meat due to slower demand and increasing supplies, along with lower cattle prices. 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 slightly lower prices into next week due to soft demand and increasing supplies.

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 remained about steady as a result of lower cattle prices.

 

Thin Meats and Grinds
Flanks- Flank prices remained steady to slightly lower last week as demand has slowed. Expect steady prices next week as demand will slow.

Flap Meat- Flap Meat prices remained steady to slightly lower last week. This week prices have held about steady due to increasing supplies and slower 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 however, expect prices to move sharply lower due to increasing supplies and lower cattle 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 to slightly lower due to lower live cattle prices and increasing supplies after the holiday.

 

 

PORK

Live Hog prices remained about steady last week as packer demand remained in balance with supplies of Hogs ready to come to market. Live Hog prices have now increased almost 50% since late April.

All components were stronger last week as demand for the Fourth of July retail feature ads remain strong in light of high Beef prices. Belly prices are particularly strong and contributed to over 60% of the cutout increase.

Loins- Bone-in Loin prices were higher last week as strong demand pushed markets higher. This week prices are steady at best due to supplies are increasing for the deliveries after the 4th of July. Expect prices to move lower next week due to slowing demand and an increase in supplies. Expect lower prices on Boneless Loins next week as well.

Butts- Butt prices were steady to slightly higher to end last week as demand has increases and supplies are limited. Expect prices to start to soften now that the 4th of July is behind us and supplies will start to increase.

Ribs- Sparerib prices were steady to slightly higher last week on all sizes. This week prices have increased slightly due to stronger seasonal demand and limited supplies. Expect prices to remain high through the month of July due to strong 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 rise slightly moving into next week as seasonal demand will increase.

Picnics-  Market is higher on Boneless Picnics and stronger on Cushion Meat.

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