Weekly Meat Market Update 7 – 24

Author: Marvale Jones

Date: July 24, 2017

Last week’s slaughter was at 637,000 head with the live weekly weighted average of $119.66/Cwt. This is up from the prior week’s level by $2.00/Cwt. as packers were caught short on buying cattle/ This week’s slaughter is projected to be around 640,000 head with live cattle trading in the range of 4116/Cwt. to $119/Cwt. Loin meat is mixed with butts pulling premiums, while strips are on the downslide. Tenderloins are trading mostly steady. Insides and chucks are moving well and priced fully steady with packer pushing for up money. Grinds are seen with some building inventory and priced mostly just steady to lower.
 
Loins – Lower
Rounds – Steady
Chucks – Steady
Ribs – Just Steady
Grinds – Steady to Lower

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 increased supplies. 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 steady 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 slightly higher 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 supplies and slower demand. Expect prices to remain steady or lower slightly due to slow demand this time of year.

 

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 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 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 last week due to slow demand. This week prices are holding about steady.

Chuck Tenders- Prices last week remained about steady. 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 slightly lower 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.

 

PORK
Last week’s harvest was at 2.19 million head on live cash cost of $66.80/Cwt. weighted average. This week’s kill is projected to be around 2.17 million head with live cash cost of $67.58/Cwt. weighted average. Bone-In Hams are called barely steady with some additional offerings noted and some sellers reporting having to discount in order to draw interest. Bellies are called fully steady with product continuing to sell with relative ease and little to no excess fresh available. Bone-In Loins are trading slightly lower while Butts are on the downslide as well. Ribs are just steady to Lower.
Hams – Just Steady
Loins – Steady to Lower
Butts – Steady to Lower
Ribs – Soft
Trim – Steady

Loins- Bone-in Loin and Boneless Loins were steady to slightly lower to end last week. Expect lower prices into next week as demand and slowed and supplies are increasing.

Butts- Butt prices were steady to slightly lower to end last week as demand has slowed and supplies are increasing. Expect prices to remain about steady due to slower demand.

Ribs- Sparerib prices were steady to slightly lower last week on all sizes. This week prices are also lower due to soft 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 steady on Boneless Picnics and slightly lower on Cushion Meat.

Related Posts

Stave off cognitive decline with seafood View
Next in the Gerry O’Brien Videos! View
New Machines in our Deli Department!! View
Weekly Meat Market Update 8 – 7 View