Weekly Meat Market Update 9-5

Author: Marvale Jones

Date: September 5, 2017

Last week’s slaughter was at 639,000 head with the live weekly weighted average of $110.68/Cwt. This week’s slaughter is projected to be around 635,000 head with the live cash cost trading in the range of $104/Cwt. to $105/Cwt. The tone to the spot market appears barley steady so far this week.
Overall cutout values are seen mostly on the decline. Rib and Loin meat prices are under downside pressure as most buyers are holding off as long as possible. Most end cuts and ground beef items are holding just steady.
Loins – Soft
Rounds – Just Steady
Chucks – Just Steady
Ribs – Soft
Grinds – Just Steady

 

ROUNDS
Prices were mostly steady on all round meats to end last week. Expect prices to continue to remain steady or may move slightly lower.
Insides- Prices remained mostly steady to end last week. This week prices have remained steady to slightly lower due to a slight increase in supplies available. Expect steady to possibly lower prices next week due to slow demand and increased supplies.

Flats- Prices held about steady to slightly lower last week with some slight increases as the week ended. This week prices have remained about steady as well due to increase supplies and slower demand.

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 about steady last week as demand has slowed and supplies are increasing. Expect possibly lower prices next week due to lower live cattle prices.

 

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 remain steady or move slightly higher next week as demand will pick up and supplies are somewhat limited due to strong processor and retail demand and a short production week.
Strips- Strip prices held mostly steady to slightly lower last week due to slow demand. This week prices have held mostly steady as supplies have remained in check.

Short loins- Markets were about steady for Choice and slightly higher on Select Short loins, as select cattle is in tight demand. Expect these trends to continue due to increasing demand for select cattle.

Top Butts- Top Butt prices remained about steady to slightly lower to end last week. Expect steady to slightly lower prices next week due to lower cattle cost and increasing supplies.

Ball Tips- Prices were steady to slightly lower last week due to increasing supplies and lower cattle prices. Expect prices to remain about steady into next week.

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.

Tenderloins- Prices remained about steady last week due to increased supplies and slower demand. Expect prices to remain steady or increase slightly due to an increase in processor demand as many are putting product away for the holidays at lower prices.

 

RIBS
Prices last week remained about steady on all sizes of Choice and Select Ribeyes as packers got to prices that spurred demand. This week prices have remained about steady to slightly lower.
Ribeyes- Prices on all Choice and Select Ribeyes remained about steady due to adequate supplies and slower demand. Expect prices to remain steady to slightly lower heading into next week.

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

 

CHUCKS
Prices remained about steady last week on all chuck meat due to good export demand and tighter supplies. All Thin Meats held about steady to slightly lower.
Chuck Rolls- Chuck Rolls prices remained steady last week due to limited supplies and increase export demand. This week prices remain firm due to short supplies due to the short production week. Expect prices to remain steady or inch higher due to stronger demand heading into the month of September for retail ads.

Clods- Markets held about steady last week due to slow demand. This week prices are holding about steady, however expect prices to stabilize and move higher into next week due to stronger processor and retail demand heading into September.

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 and a short production week.

Teres Major- Prices moved slightly lower late last week. This week prices have remained about steady as a result of slower demand and increasing supplies.

 

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 but prices will start to increase as demand will start to increase heading into fall.

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. Expect prices to start to increase due to increased demand for back to school and retail business.

Briskets- Brisket prices held mostly steady as supplies remain in check but demand has slowed. This week prices have remained about steady due to increasing inventories and slower demand.

Skirt Meat- All skirt prices remained steady to slightly lower last week as supplies are starting to increase. Expect prices to remain about steady due to increasing supplies and slower demand.

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 greater fall seasonal demand.

Grinds- Ground beef prices were about steady to slightly lower last week as demand has slowed and supplies are increasing.

 

PORK
Last week’s harvest was at 2.344 million head on live cash cost of $54.59/Cwt. weighted average. This week’s kill is projected to be around 2.315 million head with live cash cost at $52.39/Cwt. weighted average.
Hams appear to be among the few items that are supported and maintain fully steady undertones due to domestic and international interest. Bellies, Trimmings, Butts and Ribs are all called barely steady to potentially weaker.
Hams – Steady
Loins – Soft
Butts – Soft
Ribs – Soft
Trim – Soft
Loins- Bone-in Loin and Boneless Loins moved lower last week due to an increase in supplies and soft domestic and export demand. Prices this week are moving lower as well.

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 to slightly lower due to slower demand.

Ribs- Sparerib prices were steady to slightly lower last week on all sizes. This week prices have moved slightly lower now that Labor Day has come and gone.

Trim- Prices ended the week about steady to slightly lower on trim. This week prices are holding about steady but expect prices to lower slightly moving into next week as seasonal demand will slow.

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

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