Market Update From the West Coast Meatheads
Beef
Consecutive weeks of cattle harvest below 600,000 head kept product generally in balance with light demand. Primals were mixed and, for the most part, followed seasonal patterns to keep cutouts slightly on the positive side of steady.
The rib market continued its surprising early advance, albeit at a slightly slower pace. The weather broke in many areas of the country so buyers looked like they were getting a head start to grilling inventories.
The loin complex bounced back to slight gains last week. Strip and short loin advances outweighed weakness in other items here.
Angus Beef
The Angus beef market appeared to follow seasonal trends on many items this past week. Ribs were able to garner premiums from warmer weather expectations that played a large role seasonally as buyers prepared for better interest. Strip and short loins showed a firmer bias for much the same reason. End cuts, however, were steady to weaker. Chuck items for the most part were within listed levels while rounds fell from previous quotes. The Chuck flap was notably lower as foodservice features ground to halt given the temperature increase. Flank steaks and outside skirts advanced, the latter somewhat significantly on strong demand.
Pork
This marked at least the third straight week where prices across the fresh pork complex barely budged. With Lent kicking off, enthusiasm for retail pork products was lacking. Butts continued to see robust support on the export front.
Chicken
The chicken market reflected seasonal trends, specifically targeting the wing and cut wing categories. Excess jumbo and medium wing production created sharp discounts while small sized wings appeared steady for the time being. Demand patterns for not only wings but many lines fell into a seasonal lull, and with Lent in full swing, markets may feel some additional turbulence. In the meantime, tenders balanced and cleared at our listed quotations. Continued seasonal demand from the foodservice industry easily supported values. WOGs and whole birds were in decent shape overall, however some market participants reported irregularity between needs and offerings. Dark meat was mostly steady.