Farmers Report

Beef

Grinds

Ground Chuck  

Ground Chuck declined last week, and has continued to trade lower through three days of trading this week. Analysts expect the Ground Chuck market to be steady to down for the next few weeks, before rising slightly prior to Labor Day.

Ground Beef 81/19:  

81/19 Ground Beef continued to decrease last week. Similar to Ground Chuck, analysts expect the market to be steady to slightly lower for the next few weeks, before rallying before Labor Day.

Ground Beef 73/27:   

The 73/27 Ground Beef market fell last week. Similar to the two other grind items, analysts expect the market to decline over the next few weeks, then increase before Labor Day.

Rounds

Peeled Knuckles:  

The Peeled Knuckles market increased last week. This week, the market has been mixed, with Choice grade decreasing through three days of trading. Analysts expect the market to be mostly steady in the short term.

Inside Rounds:  

The Inside Round market was mixed last week, with Choice grade decreasing. This week, Choice grade has increased through three days of trading. Analysts expect the market to be flat to slightly down in the short term.

Bottom Round Flats: 

Bottom Round Flats were lower last week, and that same trend has continued this week through three days of trading. Analysts expect the market to be flat to lower in the short term.

Eyes of Round: 

Eyes of Round were mixed last week, with Choice grade decreasing. This week, both grades have increased through three days of trading. Analysts expect the market to be flat through August.

Loins

Strips:  

The Strip Loin market declined significantly again last week, and that same trend has continued this week through three days of trading. Analysts expect the market to continue to decline in the short term.

Top Butts: 

Top Sirloins fell last week, and have continued to decline this week through three days of trading. Analysts expect the market to move lower in the short term.

Tenderloins: 

The Tenderloin market was mixed last week, with Choice grade increasing. This week, the market has increased through three days of trading. Analysts expect the market to remain steady in the short term.

Ribs

Ribeyes: 

Choice light and heavy ribeyes increased last week, while Select Heavy Ribeyes declined. This week, that same trend has continued except for Select Light Ribeyes, which have declined through three days of trading. Analysts believe that the Ribeye market will have upside heading into early fall.

Chucks

Chuck Rolls:

The Chuck Roll market increased last week, and has continued to increase this week through three days of trading. Analysts expect the market to continue to increase over the next several weeks.

Teres Majors: 

All grades of Teres Majors were up last week. This week, Choice grade has decreased through three days of trading. Analysts believe that while the market will continue to push higher in the short term, there is some downside risk heading into August, depending primarily on weekly harvest levels.

Briskets: 

The Brisket market decreased last week, and has continued falling this week through three days of trading. Analysts believe that there is more downside risk heading into August.

Thin Meats

Ball Tips: 

Ball Tips traded flat-to-down last week. This week, the market has declined through three days of trading. Analysts expect a flat-to-slightly-down market through August.

Flap Meat:  

The Flap Meat market was mixed last week, with Choice grade increasing. This week, the market has still been mixed, with Choice grade decreasing through three days of trading. Analysts expect some downside risk in the short term.

Flank Steak:  

Flank Steaks were mixed last week, with Choice grade decreasing. This week, both grades have increased through three days of trading. Analysts expect the market to be steady in the short term, with some softness in August, depending on harvest levels.

Skirt Steak:

The Outside Skirts market has continued to see extreme swings. Last week, the market increased, but has decreased this week through three days of trading. Analysts expect the market to continue to be choppy in the short term.

Seafood

King Crab

(Red & Golden):

The Red King Crab market continues to find strength, and supply is being reported as less than adequate, according to analysts.

Crabmeat

(Blue & Red, Pasteurized):

Urner Barry reported price increases this week on Blue and Red Swimming Crab. Red Swimming Crabmeat supply is reported as less than adequate.

Snow Crab

Alaskan:

Urner Barry reports that pricing is steady to firm, and suppliers report that supply levels are low.

Canadian:

Urner Barry is reporting price increases once again this week on Canadian Snow Crab.

Lobster

North American Lobster Tails:

Urner Barry reported price increases this week on tails.

North American Lobster Meat:

Urner Barry reported price increases this week on CK (claw and knuckle) and CKL (claw, knuckle, and leg) meats.

Lobster Tails, Warm-Water:

Urner Barry reported that pricing on Warm-Water Tails is steady this week

Scallops

Sea:

Urner Barry is reporting steady to higher pricing this week.

Bay:

Pricing remains stable, as reported by Urner Barry.

Pork

Loins

Boneless loins continued lower, while bone-in loins increased, as the USDA reported variable promotional frequencies for the loin categories.

Seasonal demand is still generally supportive, although it is beginning to move beyond its traditional peak.

Tenders

The pork tenderloin market continued higher. Demand remains healthy in retail, per the USDA retail report.

Historically, the pork tenderloin markets are well-supported during summer, although they are beginning to move beyond their traditional peaks.

Butts

The bone-in butt market continued moderately lower, although the rate of decline slowed even more, even though the USDA retail report indicated a considerable uptick in the frequency of pork butt ads. Historically, the butt market declines through July and sometimes into early August.

Ribs

All varieties of ribs experienced gradual market decreases.

Seasonal demand remains good, although it is beginning to move beyond its traditional peak.

Per the USDA retail reports, ribs are still being promoted. Traditionally, the rib markets work lower through July into early August.

Bellies/bacon

The belly markets continued to increase gradually. Historically, the belly markets strengthen through July and into August before showing any signs of seasonal declines, although June was an unexpectedly strong month for the belly markets this year as well.

Hams

The ham markets continued to increase strongly.

Historically, July has been the strongest month of the year for the ham markets, which is normally followed by easing through August. Seasonal demand is still very healthy, according to analysts.

Trimmings

72% lean trimmings pivoted lower, while 42% fat trimmings maintained upward momentum.

Historically, both trimming markets are well-supported during summer, driven largely by increasing processor demand for grilling season products like sausages and hot dogs. In prior years, these markets have peaked around late July or early August.

Picnics

Both bone-in and boneless picnics increased. The bone-in picnic market has continued to make strong gains week-over-week since late March, reaching its highest level in five years for this time of year.

Historically, the bone-in picnic market works gradually higher throughout the calendar year.

Meanwhile, the boneless market experienced an unexpectedly stronger June, and this trend has continued through July, according to analysts.

Traditionally, the boneless picnics increase slightly in July.

Seafood

Shrimp, Domestic

Shell-On Whites:

Urner Barry reported price increases this week on domestic shrimp. Suppliers report slow fishing and poor production.

Domestic Browns:

Pricing is firming. The new season has begun, but suppliers report that supply is less than adequate.

Domestic Puds:

Urner Barry reported steady to firm pricing this week. Suppliers report slow fishing and poor production.

Shrimp, Imported

Black Tigers and Whites:

Urner Barry reported price increases again this week on imported White and Black Tiger Shrimp.

Mexican Browns and Whites:

Urner Barry reported steady pricing this week. According to suppliers, the new season will begin in September.

Argentine Red:

Urner Barry expects pricing to be stable next week.

Catfish

Domestic:

Pricing is steady this week, as reported by Urner Barry.

Imported:

Urner Barry reported steady pricing this week on imported catfish. Analysts report that supply is less than adequate.

Atlantic Farmed Salmon

Frozen Portions:

Urner Barry reported mostly steady pricing on Chilean and Norwegian portions.

Fresh Chilean:

Urner Barry reported steady pricing this week on Fresh Chilean Salmon.

Mahi-Mahi

Urner Barry reported steady to firm pricing this week on most sizes. Suppliers continue to report slow fishing and poor production, and that they don’t expect lower prices until the new season begins this fall.

Tilapia

Urner Barry reported steady pricing this week.

Pangasius

Urner Barry reported steady pricing this week on Pangasius. Suppliers are reporting the potential for price increases in the future, related to pending trade agreements.

Whitefish Complex

Cod:

Urner Barry reported steady to firm pricing this week. Suppliers report supply challenges, specifically on Atlantic Cod. Suppliers also reported another cut in the quota for this season.

Pollock:

Urner Barry reports that pricing is steady to firm. Suppliers report supply challenges.

Haddock:

Urner Barry reported steady to firm pricing this week. Suppliers report supply challenges.

Flounder:

Urner Barry reported steady to firm pricing this week.

Tuna, Yellowfin

(Frozen Steaks & Loins):

Pricing is stable, as reported by Urner Barry.

Swordfish

Urner Barry reports steady pricing for next week.