Market Update From the West Coast Meatheads
April 15, 2018
The market throughout the week exhibited a barely steady tone for many items, with some spot market values trading amid a weak undertone. Ribs and some loins slipped lower, as did a few end cuts. Thin meats and peeled tenderloins realized a heftier level of weakness. Seasonal weather that is conducive to grills coming out of hibernation did not surface and retail features consequently were not as successful.
Angus beef processors largely reported spot supply of the branded product that continued to outweigh near term demand. Until consistent spring weather develops, a bit of negative pressure will remain in place with the branded market.
There were some packer inventory sub-primal positions that were manageable due to pre-sold orders. There was also an improved call for product to deliver a few weeks from now. This week’s market saw spot market values push lower across all primal sections of the Angus carcass, given the fully adequate to ample supply of fresh product. Ribs and ball-tips were under a hefty level of negative pressure. Items holding strong support remained the clod tender (teres major), flat iron, outside skirt and ground beef.
Ongoing poor weather, high pork production and mixed reception internationally weighed on fresh pork sales. The loin market was steady to lower with many discounted offers taken from sellers to keep product moving. Butts were steady as export markets continued to pull somewhat heavy, providing relief from poor domestic demands. Spareribs and back ribs moved as buyers secured some upcoming summer frozen rib needs.
Whole birds and WOGs continued to be in good shape. Product movement tended to pend between price-conscious buyers and confident sellers who asked market and sometimes better. Breasts and breast fronts were maintained value while boneless was a bit of a mixed bag. Select and medium offerings found support at current price points, however jumbo sales were frequently discounted.
Wings found themselves in a similar predicament. Jumbo varieties were about steady. Demand for medium and, to a lesser degree, small sizes, however, was not as active as some had hoped. The search for tenders continued. Some buyers reported difficulty in their ability to find offerings both on the spot and for near future requirements. The sales that took place were recorded at up-money. Trade activity for legs, leg quarters and thighs was quiet with sales taking place within a close range of listed quotations.