Market Update From the West Coast Meatheads
Beef
Cattle prices had bottomed out at $145 last week and have since been trending back up a few dollars. Last week middles hit attractive levels for retail and foodservice and heavy buying started to take place. Packers have since put plus money on all the middle meats. Tenders are leading the charge with packers asking nearly a $1 higher than the previous week. Chucks started to show some slight increases by the end of the week. Two cuts which have been in the tank recently have been ball tips and tri tips. Both of these cuts will continue to head lower. The overall market is much stronger than it was the second half of July.
Chicken
Breasts, which decreased over past few weeks, began to gain some momentum this week and prices are increasing into next week. All other cuts remain steady.
Pork
Bellies and Bacon continue their climb for about the 5th week in a row. They are up 10-20 cents. Unlike previous weeks, all other cuts were up as well anywhere from 10-30 cents. This is largely due to live carcass cost up 2-3%. Expect these increases to continue as Pork is still a cheap protein alternative to the high beef costs.
Lamb
Domestic lamb prices continue steady. All cuts are staying pretty solid with costs remaining the same. Imported markets are stable as well. Australian racks are up slightly but other than that, not much change.
Veal
Bones and short loin tenders continue in short supply and costs increasing slightly. All other cuts remain steady. Expect increased costs in the fall as Hollstein stock will continue to be grown to more maturity before production, decreasing Veal supply.
Shrimp/Lobster
Mexican Wild season is about to get underway and start with the smaller sizes. Hoping for a good catch this year so prices will decrease. Mexican farmed are priced well right now and are steady-down. Imported shrimp is stable. South American Lobster season has begun and new stock is expected in within a week or 2, so we will see what the cost will be like.