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Waiting for Beef Relief

Waiting for Beef Relief

Published 2 weeks ago
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BEEF Beef harvest rebounded last week up to 548K head, compared to the prior week of 484K head. Still running well behind last year. With continually larger animals being harvested, we are down on weight by 5.2 percent and down by number of animals harvested by 7.5 percent. While we do see signs of herd rebuilding, that relief is well into 2028 before we would see any sizable increases in herd availability. We are heading toward the holiday season; already middle meats, led by ribeyes, are moving up every week. Tenderloins are showing strength, too. As is usual with the holidays, I expect strip loins will move up modestly – especially compared the other middle meats, making them a good holiday value. Chucks continue to show strength as well; rounds have been on the decline, but I think we are about at the bottom of that run. Grinds are moving higher. Thin meats, think briskets, flank, sirloin flap, all down again or finding a much lower price point than we’ve seen the past few months. Stay ahead of your needs, inventories are tight. 

POULTRY Chicken production continues strong; I do think we will see some minor price declines - don’t expect anything big - but production is outpacing demand right now. We might see a surge in wing pricing, but it will be minor, if it comes at all. As far as avian flu, four new cases affecting 100K birds, mostly turkeys. Over two million turkeys have been culled in 2026 due to avian flu, and we’ve got a couple months to go. 

GRAINS Grains overall are holding steady to last week's pricing. Corn closed today at $5.01, last week closed at $5.00, soy today closed at $12.64, last week closed at $12.57, and wheat closed at $6.59, up from last week’s close at $6.33. Still not much to make me think these are poised to move higher. Harvest is ramping up for corn and soy. Biofuels could push these higher, but I think that demand is already baked into the price. 

PORK Pork bellies are heading lower still. Today’s close was $82.46 compared to last Thursday at $93.43. This makes it time to buy. Pork continues to be a great protein value, and now with bacon. Loins continue to decline a few pennies; butts and ribs holding steady for now. 

DAIRY For the first time since the first week of August, the block market is up. Through Thursday's close the block is up four, barrel has no change, and butter declines another five. I still don’t see anything to push this market; inventories and raw material are plentiful. 

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