Meat Market Updates

BEEF With little demand this market has finally started to erode. Also of note is the fact that the Choice to Select spread has completely leveled off with some select items actually being quoted higher than their choice counter parts. Many feel that the market will bottom quickly and start a gradual upward swing again as the grilling season kicks into high gear. This will likely, along with a seasonal decline in the grading, lead to choice middles gaining significantly more value than select. This scenario will likely play out all through April and into early May. PORK This market is faltering. Demand is just not keeping pace with supplies leading to a lager than normal build up of freezer inventories. There is nothing pointing to a quick rebound. Renewed export business could change the market to some degree, but without increase domestic demand this market is indeed in trouble. LAMB and VEAL We will soon be in the post Easter market and many expect both markets to decline. Will the packers react by lowering kills even further. Many feel they can’t as if they were to fall too far from their current levels they will not be able to cover their fixed overhead expenses which will have a negative effect on the market. So lower prices seem to be on the horizon. CHICKEN Very little chage this week. Tenders did increase a few cents more and whole birds did finally decline after a four week run. Wings have stayed strong - but March Madness end this coming Monday so it would seem that demand would drop to some degree leading to lower prices. How much lower is the question of the day and there does not seem to be a clear answer yet.