BEEF TRENDS

Beef Trends - April 19, 2024

All current beef pricing trends are based on USDA data as of April 17, 2024. Last week’s trends refer to the USDA market for the week ending April 12, 2024.

Live cattle sold mostly between $1.82 and $1.84/lb. last week. Live cattle are expected to remain steadily priced this week, according to analysts.

Last week’s slaughter was about 603K 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 April 6, 84.5% of cattle graded as Choice or higher, and 12.1% graded as Select, with the remaining 3.4% being Ungraded.

GRINDS

GROUND CHUCK:

Ground Chuck was up last week, and has continued to increase this week through three days of trading. Analysts expect the Ground Chuck market to be steady through spring, and 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 be steady in the short term.

GROUND Beef 73/27:

73/27 Ground Beef traded up last week, but has decreased this week through three days of trading. Analysts expect this market to be steady through spring.

ROUNDS

PEELED KNUCKLES:

The Peeled Knuckles market was down last week. This week, Choice grade has continued to decline, while Select grade has increased through three days of trading. Analysts expect the Peeled Knuckles market to hold steady in the short term.

INSIDE ROUNDS:

Choice Inside Rounds increased last week, while Select grade was flat. This week, Choice grade has continued to increase, while Select grade has had limited trading through three days. Analysts believe the market will hold steady in the short term, then increase later in spring.

BOTTOM ROUND FLATS:

Choice Bottom Round Flats increased last week, while Select grade was flat. This week, Choice grade has decreased, while Select grade has increased through three days of trading. Analysts expect the market to increase in the short term.

EYES OF ROUND:

Eyes of Round decreased last week. This week, both Choice and Select grade have increased through three days of trading. Analysts expect the market declines to diminish, followed by steady increases going into May.

LOINS

STRIPS:

The Strip Loin market decreased last week. This week, Choice has continued to decrease, while Select grade has increased through three days of trading. Analysts believe that the market will continue to hold steady now through summer.

TOP BUTTS:

The Top Butts market increased last week, but has decreased this week through three days of trading. Analysts expect the market to hold steady in the short term.

TENDERLOINS:

The Tenderloin market was mixed last week, with Choice grade decreasing. This week, Choice grade has increased, while Select grade has held steady through three days of trading. Analysts expect the market to remain choppy in the short term, and report that demand continues to remain soft and supplies remain good.

RIBS

RIBEYES:

The Ribeye market was mixed last week, with Choice Light Ribeyes increasing, while Select Light Ribeyes and Heavy Ribeyes decreased. This week, the market has decreased except for Select Heavy Ribeyes, which have increased through three days. Analysts expect the market to rise steadily through spring.

CHUCKS

CHUCK ROLLS:

The Chuck Rolls market was mixed last week, with Choice grade increasing. This week, both grades have decreased through three days of trading. Analysts expect the market to hold steady in the short term.

TERES MAJORs:

Choice Teres Majors increased last week, while Select grade decreased. This week, both grades have increased through three days of trading. Analysts expect the market to hold steady through April, then increase in May.

BRISKETS:

Choice Briskets increased last week, while Select grade decreased. This week, Choice grade has decreased, while Select grade has increased through three days of trading. Analysts expect the market to hold steady in the short term.

THIN MEATS

BALL TIPS:

Choice Ball Tips decreased last week, while Select grade increased. This week, both grades have decreased through three days of trading. Analysts believe that the market will be steady through spring, with limited availability reported on Choice grade.

FLAP MEAT:

The Flap Meat market declined last week. This week, Choice grade has increased, while Select grade is flat through three days of trading. Analysts expect the market to be steady to up through late May.

FLANK STEAK:

The Flank Steak market increased last week, and has continued to increase this week through three days of trading. Analysts believe the market will be steady in the short term.

SKIRT STEAK:

Outside Skirts increased last week, but have decreased this week through three days of trading. Analysts expect the market to be steady to up through May.