BEEF TRENDS

Farmer's Report

Beef Trends - June 24, 2022

All current beef pricing trends are based on USDA data as of June 22, 2022. Last week’s trends refer to the USDA market for the week ending June 17, 2022.

Live cattle sold mostly between $1.41 and $1.43/lb. last week. Live cattle are expected to remain steadily priced this week, according to analysts.

Last week’s slaughter was about 667K head, which was down from the previous week, but is expected to remain steady in the 660-670K head range through June.

For grading in the week ending June 11, 80.3% of cattle graded Choice or higher, and 16.8% graded Select, with the remaining 2.9% Ungraded.


GRINDS

GROUND CHUCK:

Ground Chuck was flat last week on limited trading. This week, the market is showing an increase through three days. Analysts expect all grinds to show some softness through the 4th of July holiday.

GROUND BEEF 81/19:

81/19 Ground Beef traded up last week, and continues to show a price increase this week through three days.

GROUND Beef 73/27:

73/27 Ground Beef also saw a moderate price increase, and is up again this week after three days of trading.


ROUNDS

PEELED KNUCKLES:

The Peeled Knuckles market saw price declines last week. This week, the market is mixed, with Select seeing an increase, while Choice is trading down after three days. The Peeled Knuckles market is expected to remain somewhat of a steady-to-weaker market through June, according to analysts.

INSIDE ROUNDS:

The Inside Rounds market was flat to mixed last week. This week, Select is up, while Choice is trading down. Analysts expect the market to hold steady through June.

BOTTOM ROUND FLATS:

Choice Bottom Round Flats traded down last week, Select was flat. This week, Select is down slightly, while Choice is up after three days. Analysts expect the Outside Rounds market to remain steady through June.

EYES OF ROUND:

Eye of Round were mixed last week, with Choice seeing a slight price increase. This week, that same trend has continued, with Choice trading up, while Select is down. Analysts expect a steady-to-declining market throughout the summer.


LOINS

STRIPS:

Strip Loins traded mixed last week, with Select seeing a moderate price decline. This week, both grades are showing moderate price increases. Analysts expect some upward momentum in the market through June, followed by a drop in price during late summer.

TOP BUTTS:

Top Butts traded down last week on both grades. The same trend has continued this week through three days, with limited trading on both grades. Analysts believe that the market has peaked, and that prices will decline through June.

TENDERLOINS:

The Tenderloin market continues to remain volatile, and both grades saw a significant price decline last week. The same trend has continued through three days this week. Analysts expect this market to continue to decline steadily going into July.


RIBS

RIBEYES:

Both the light and heavy Ribeye markets were down last week, and that same trend has continued through three days this week. Analysts expect the market to remain soft through late summer.


CHUCKS

CHUCK ROLLS:

All grades of Chuck Rolls were up last week, and that same trend has continued through three days this week. Analysts expect the market to continue to hold steady in the short term.

TERES MAJORs:

All grades of Teres Majors saw modest decreases last week, but this week Choice grade is trading up after three days. Analysts expect the market to be steady in the short term, then see some declines during June and July.

BRISKETS:

Briskets were mixed last week, with Select grade showing a moderate price decline. This week, Choice is showing a slight decrease, while Select is up slightly. Analysts expect the Brisket market to hold steady in the short term, then possibly see modest increases in late summer.


THIN MEATS

BALL TIPS:

Both grades of Ball Tips traded down last week, but are showing slight increases this week after three days of trading. Analysts think that the market may have peaked, and expect modest declines in the short term.

FLAP MEAT:

Both grades of Flap Meat saw price increases last week. This week, Select is seeing the increase, while Choice is down slightly after three days of trading. Analysts expect the market to increase steadily through early July, then decline going into late summer, based on seasonal trends.

FLANK

The Flank Steak market was down last week. This week, Choice is seeing a moderate price increase, while Select is down after three days of trading. Analysts expect the market to continue to increase into late summer, with increased seasonal demand.

SKIRT STEAK:

Outside Skirt Steaks continue to be volatile, and analysts expect the market to remain somewhat unstable and choppy in the short term until demand stabilizes.

The data contained in the Farmer’s Report is provided for informational purposes only, is not tailored to your specific purchasing needs, and is not intended as a substitute for any other publicly-available market data or information. The Farmer’s Report is compiled from the last-received market data provided by the United States Department of Agriculture (USDA) and/or other market sources, and is subject to change without notice. Nothing herein is the opinion of US Foods®. US Foods neither assumes any legal liability nor makes any warranty or guaranty, either express or implied, regarding the completeness, accuracy or usefulness of this information.