Market activity has slowed as the week butts against the weekend. The trend of mostly steady trade has remained. Ribs took a breather from daily advances and most of the trade collected was within our current quotations.
The interest in rounds looked like it was running out of steam as meat started showing up a little more frequently. Prices were still steady. Chucks mostly the same with slight adjustments on clods and a more recognizable advance in the arm roast.
Strips and sirloins moved sideways. Ground beef realized declines as sellers looked to move backed-up inventory.
Peeled tenderloins remain the shining star for the loin primal given holiday interest. Strips and short loins continue to struggle with finding improved demand and value.
There was follow-through strength in the Angus beef market this week as packers stayed in lock-step with rising input costs. Ribs were the largest gainer as sustained interest for the yearend holidays remained strong and sellers kept themselves well sold into this period.
The loin complex was steady to fully steady.
The gainers were not as broad based and product here provides a real value compared to ribs. Insides were the best performing end cut. There was a strong call in recent weeks to put this item on feature to end the year.
Chucks were steady for the most part. Special Trim and Pectoral Meat were in demand.
Trade was limited in the green meat complex during the week, resulting in only modest price movement across most categories. Hams maintained support through limited fresh offerings and a consistent call from domestic and export buyers.
Bellies were barely steady to marginally weaker. The national weighted average of hog prices closed higher this week for the first time in 21 weeks (since June 20th).
Whole birds and WOGs are well supported heading into December. While buyers are not as aggressive this week as they have been in recent weeks, supply and demand are still found to be in a close balance with one another.
Wings are rated steady to full steady. Buyers are pursuing smaller sized wings and bidding up money in order to get covered. Jumbo wings haven’t moved any higher in value, but they’re well supported and sellers are excited for the upcoming bowl season.
Breast meat and tenders are mostly steady.
Demand is fair and paid values are within a reasonable range of our listed quotations.
In the dark meat complex, almost every bone-in and boneless line is testing. Export demand has slowed down; some and prices are adjusting accordingly. The same can be said in the domestic arena.