An Interesting Summer For Beef

Beef production continues to keep inventories tight and prices pushing higher.  Beef harvest last week was 520K head, up a bit from the 503K the week prior but still not enough to fill the demand.  Middle meats, those strips loins, tenderloins and ribeyes continue to push higher every week.  Thin meats, think flank, skirt, sirloin flap, all are in tight supply and pushing higher every week.  Grinds held steady for the next week but I do think we will see grinds pushing higher with all the other cuts.  This is a buy now, waiting will cost you money market.  And I’m adding keep well ahead of your needs, this is going to be an interesting summer for beef.  POULTRY  Chicken continues to roll on, production continues about 2% over last year and demand is taking all that production.  Boneless skinless breasts and tenders moving up again next week and this seems to be a pattern we could see for a few weeks.  Wings holding steady after last week’s move higher.  Even with the recent increases chicken remains the choice for protein value.  On Avian flu, a relatively good week with 9 new cases affecting 98K birds.  GRAINS – Even war cant move the cost of corn.  Corn closed at $4.59 just up from $4.58 last week.  Preliminary estimates for this years crop down 5 million acres from last year, while soy is planning more acreage.  The soy rally is pushing up again after a couple weeks stall.  Wheat is moving higher mostly on international unrest.  PORK Pork bellies are hanging right around that $150 mark, today’s close $149. We could see this move higher but I think it will be later in spring or early summer.  The rest of the pork complex is well supplied and pricing is good.  DAIRY Another quiet week on the CME, which will be closed on Good Friday so this is the week’s close.  Butter dropped 3, barrel is up 1, and block had no change.     Savalfoods.com | Find us on Social Media: Instagram, Facebook, YouTube, Twitter, LinkedIn