Market Update From the West Coast Meatheads
Beef
There was a decent amount of trade this week compared to the last few and it mostly fell within listed quotations. Choice ribs saw a few sales steady while select and no-roll product started to be discounted.
Loins firmed given the current value they hold. Buyers seemed to take notice, and maybe sellers alike, which has helped support prices. Chucks and rounds mostly steady. After some recent declines in the chuck roll, they seem to garner some interest at current prices and helped a slight turnaround. Thin meats, notably briskets and tri-tips, have also found solid demand. Ground beef steady to lower in order to move some inventory.
Angus Beef
The seasonal market for ribs appeared to have hit its peak this week. There was a wide range of trade with the higher quotations picked up early reporting period spanning late last week and early this week.
As trade dulled there were some at the lower end of the quote. Loins, on the other hand, started to gain steam as the week progressed. The value compared to the rib complex seemed compelling to buyers as they started taking positions. Most chuck items slipped week-to-week. The chuck roll and tender were hit especially hard as inventory positions outweighed lackluster demand. Again, time determined where trade fell in the quote but more recent sales weakened. Insides were supported at steady levels. Thin meats found a fairly good call with special interest in briskets and inside skirts, Ground beef remained a struggle.
Pork
The pork complex as a whole was well supported this week. Supplies of hams, bellies and trimmings are thin and interest is consistent. Exports to Mexico have had a material impact on ham prices.
In fresh pork, activity was limited. Some minor, scattered gains were seen among bone-in loins, spareribs and butts. Cuts in weekly production seem to have helped get products in a better position.
Chicken
It’s been a quiet week thus far in the chicken complex. Whole birds and WOGs more plentiful on the open market; spot demand has retreated some and prices are testing lower. Breast meat and tenders are fairly balanced.
Asked and paid values are within range of our listed quotations, but certainly no better than. Wings are well supported and clearing without any issue. Leg quarters are rated about steady to barely steady. Export demand is light or below average and prices have adjusted lower. Whole legs are about steady as are drumsticks. Thighs are under pressure. Thigh meat and leg meat are unsettled. Sellers are entertaining discounted bids in order to stimulate interest.