BEEF TRENDS

Beef Trends - July 26, 2024

All current beef pricing trends are based on USDA data as of July 24, 2024. Last week’s trends refer to the USDA market for the week ending July 19, 2024.

Live cattle sold mostly between $1.90 and $1.91/lb. last week. Live cattle are expected to remain steadily priced this week, according to analysts.

Last week’s slaughter was about 584K head, which was down compared to the previous week, and is expected to remain steady going forward, according to analysts.

For grading in the week ending July 13, 82.2% of cattle graded as Choice or higher, and 14.6% graded as Select, with the remaining 3.2% being Ungraded.

GRINDS

GROUND CHUCK:

Ground Chuck was up last week, but has declined this week through three days of trading. Analysts expect the Ground Chuck market to hold steady in the short term, and they report that supplies remain adequate.

GROUND BEEF 81/19:

81/19 Ground Beef traded up last week, and has continued to increase this week through three days of trading. Similar to Ground Chuck, analysts expect the market to hold steady in the short term.

GROUND Beef 73/27:

73/27 Ground Beef traded up last week, but has declined this week through three days of trading. Analysts also expect this market to hold steady in the short term.

ROUNDS

PEELED KNUCKLES:

The Peeled Knuckles market was up last week, and has continued to increase this week through three days of trading. Analysts expect the market to hold steady in the short term.

INSIDE ROUNDS:

The Inside Rounds market was up last week. This week, Choice grade has declined, while Select grade hasn’t had any trades through three days. Analysts expect the market to remain steady in the short term.

BOTTOM ROUND FLATS:

The Bottom Round Flats market decreased last week, and has continued to decrease this week through three days of trading. Analysts expect the market to hold steady in the short term, then decline during late summer.

EYES OF ROUND:

The Eyes of Round market was mixed last week, with Choice grade decreasing, and Select grade holding flat. This week, both grades have increased through three days of trading. Analysts expect the market to hold steady in the short term.

LOINS

STRIPS:

The Strip Loin market decreased last week, and has continued to fall this week through three days of trading. Analysts expect the market to continue to decline through August.

TOP BUTTS:

The Top Butts market was mixed last week, with Choice grade flat, while Select grade increased. This week, Choice grade has increased, while Select grade has decreased through three days of trading. Analysts expect the market to hold steady in the short term.

TENDERLOINS:

The Choice Tenderloin market fell last week, and both grades have declined this week through three days of trading. Analysts expect the market to decline through July.

RIBS

RIBEYES:

The Light and Heavy Ribeye markets decreased last week, but have increased this week through three days of trading. Analysts believe the market will hold steady in the short term, then increase after Labor Day.

CHUCKS

CHUCK ROLLS:

The Chuck Rolls market decreased last week, and has continued to decrease this week through three days of trading. Analysts expect the market to hold steady in the short term, then increase in August.

TERES MAJORs:

The Teres Majors market decreased last week, and has continued to decrease this week through three days of trading. Analysts expect the market to hold steady through July.

BRISKETS:

The Briskets market fell last week, and has continued to decline this week through three days of trading. Analysts expect the market to continue to decline in the short term.

THIN MEATS

BALL TIPS:

The Ball Tips market increased last week, and both grades have continued to increase this week through three days of trading. Analysts expect the market to hold steady in the short term.

FLAP MEAT:

The Flap Meat market was up last week, and has continued to increase this week through three days of trading. Analysts expect the market to be choppy in the short term.

FLANK STEAK:

The Flank Steak market was mixed last week, with Choice grade decreasing. This week, that same trend has continued through three days of trading. Analysts believe the market will decline in the short term.

SKIRT STEAK:

Outside Skirts decreased last week, and have continued to decline this week through three days of trading. Analysts believe that the market will head lower through summer.