Market Update From the West Coast Meatheads
Beef
Ribs/Tops/Flap all began to weaken this week. Expect price to start coming off in the upcoming weeks. Strips and Shortloins have also peaked and packers will begin to lower prices soon. PSMOs are steady to slightly lower. We should see larger relief in PSMOS end of June. Two cuts packers put plus money on this week were chuck tenders and inside rounds. Packers are slowly being able to buy cattle at lower prices which is helping with overall boxed beef prices. Live cattle traded this week $160-$161.
Chicken
The breast market continues to trend down. This is a contrast from last year at this time when it was increasing. Production is up this year compared to last. Thighs and WOGs are steady.
Pork
All cuts continue to have cost increases. Pork bellies, bacon and loins up 10-25 cents. Butts, up 15-20 cents. Ribs up 20-30 cents.
Lamb
All domestic lamb remains steady and is expected to stay steady through summer. Imported lamb is steady on all cuts.
Veal
The veal market is stable and West Coast is in a good position on most cuts. No shortages recently. Cost remains the same to down slightly on all cuts.
Shrimp
Large size wild Mexican is scarce and remains high. Smaller Mexican farmed continues to be steady to down slightly following the foreign market.