BEEF TRENDS

Farmer's Report

Beef Trends - June 14, 2019

All beef pricing trends are based on USDA data as of June 12, 2019.

For the week of June 3, 2019, cash cattle traded down slightly, trading between $113-115/cwt. Sales have occurred at light volume in Kansas this week at $113/cwt.; however, other bids that have surfaced were lower. Market analysts are calling for possible downside risk, as futures are reporting lower prices as we hit the summer months.

Harvest came in at 662K head for the week of June 3, 2019, which was slightly higher than the analysts’ projections last week. Of that 662K head, 559K were of the steer/heifer variety. Harvest for the week of June 10, 2019 is expected to be steady.

77.38% of all steers/heifers graded Choice or Prime for the week ending May 31, 2019, which was relatively flat compared to the week prior. Select grading was up at 19.29% and Ungraded reported down at 3.34%.


GRINDS

GROUND CHUCK:

Ground chuck reported down a few cents for the week of 6/3/19, and is currently rebounding very nicely as we get further into the week of 6/10/19.

GROUND BEEF 81/19:

81/19 ground beef reported down for the week of 6/3/19, and is currently up a few cents for the week of 6/10/19.

GROUND Beef 73/27:

73/27 ground beef traded down a few cents for the week of 6/3/19, and is currently showing a slight increase for the week of 6/10/19.


ROUNDS

PEELED KNUCKLES:

All grades of peeled knuckles traded flat for the week of 6/3/19. Through three days of trading for the week of 6/10/19, Choice knuckles are trading slightly down and Select product is trading flat.

INSIDE ROUNDS:

Graded Inside rounds all posted small declines for the week of 6/3/19. So far, in the week of 6/10/19, Choice product is showing a healthy increase, while Select product is showing a slight gain.

BOTTOM ROUND FLATS:

Bottom round flats reported down across the board for the week of 6/3/19 and currently are reporting flat for the week of 6/10/19.

EYES OF ROUND:

Choice eyes of rounds traded slightly up, and Select eyes were slightly down for the week of 6/3/19. They are trading flat to slightly up, respectively, for the week of 6/10/19.


LOINS

STRIPS:

Choice strips continued to decline significantly for the week of 6/3/19, while Select strips traded modestly down. So far for the week of 6/10/19, Choice strips are posting a small gain, and Select strips are showing slight weakness.

TOP BUTTS:

Choice top butts traded up a few cents for the week of 6/3/19, while the Select butts took a decline. For the week of 6/10/19, Choice product is showing a decline of a few cents, while Select product is taking a larger decline.

TENDERLOINS:

Choice tenders traded flat, while Select slightly declined, and Ungraded product dropped for the week of 6/3/19. Currently, Choice product is trading down a few cents, while Select product is showing a moderate increase for the week of 6/10/19.


RIBS

RIBEYES:

Choice light, Choice heavy, and Ungraded heavy ribeyes all posted nice gains for the week of 6/3/19. Ungraded lights traded steady; however, Select lights and Select heavies traded down. Currently for the week of 6/10/19, Choice light ribeyes are showing a significant gain, while the rest of the rib complex is posting double-digit losses.


CHUCKS

CHUCK ROLLS:

Choice chuck rolls traded flat for the week of 6/3/19, while Select product traded a few cents up. So far for the week of 6/10/19, Choice rolls are slightly up, and Select Rolls are slightly down.

TERES MAJOR MUSCLE:

Choice Teres Majors continued to decline in the week of 6/3/19, while Select product took a nice increase, and Ungraded product traded flat. All graded Teres Majors are showing healthy gains for the week of 6/10/19.

BRISKETS:

Choice briskets traded down significantly for the week of 6/3/19, while Select product traded up a few cents. Through three days of trading, both grades are showing similar patterns, although the Choice decline isn’t as significant, for the week of 6/10/19.


THIN MEATS

BALL TIPS:

Choice ball tips traded up nicely and Select ball tips traded down decently for the week of 6/3/19. Choice product is posting a sizable gain, and Select product is trading slightly down so far for the week of 6/10/19.

FLAP MEAT:

All grades of flap meat traded down moderately for the week of 6/3/19. Currently, all grades are reporting sizable gains for the week of 6/10/19.

FLANK:

Choice flanks traded up a few cents, while Select flanks traded down slightly for the week of 6/3/19. Choice flanks look to be posting a modest decline for the week of 6/10/19, while Select flanks are slightly decreasing.

SKIRT STEAK:

Outside skirts traded down for the week of 6/3/19, and are currently trading up a few cents for the week of 6/10/19.