The U.S. meat market has experienced some stability over the week with the boxed beef markets remaining steady. Buyers and sellers are still assessing offer levels for the week. Interest in the loin complex was limited while the ribs were steady, and some select items saw a slight downward pressure. In contrast, chuck and round items remained steady on the day but with excess availability for a few items. The grinds complex remains irregular with different positions among sellers. The weather is still uncooperative, with confirmation for better business getting prolonged.
There have been no significant cash cattle sales reported according to Urner Barry's Newswires Team. The estimated cattle slaughter on Monday was 124,000 head, 3,000 head more than the same time last week.
For Friday, buyer needs were fairly light, with sellers wrapping up final orders for the weekend. Ribs chopped sideways, and the loin complex was well balanced. The trade was balanced, with Chuck and round items having better interest. Clods and insides had excess supplies that sellers were willing to negotiate around, leading to slightly wider ranges and moderate volumes. No significant cash cattle sales were reported according to Urner Barry's Newswires Team. The estimated cattle slaughter on Friday was 108,000 head, the same as last week, while the estimated cattle slaughter on Saturday was 12,000 heads, making the weekly total estimated slaughter 622,000 heads, about 1.5% higher than last week.
Activity within the boxed beef market on Wednesday seemed stale as buyers continued to cite adequate inventories for the needs ahead, leaving a large majority of players on the sidelines. Although participants eagerly await additional pulls to reach clearing levels, the weather being hit or miss more recently is seen as a deterrent. Ribs chopped sideways on light volume once more as buyers remain hand-to-mouth. The loin complex was slightly unsettled, with some items inching slightly higher, and strips and tenderloins stuck in a channel. Thin meats are finding rising interest as participants continue to look for more palatable pricing. Grinds inched slightly higher as the spring grilling season quickly approaches.
According to Urner Barry's Newswires Team, there were no significant cash cattle sales reported. Thursday's estimated cattle slaughter was 128,000 heads, 3,000 heads less than the same time last week. This week's slaughter outpaces the last by 13,000 heads.
In conclusion, the U.S. meat market has been relatively stable over the week. The supply of boxed beef products has been adequate, leading to a steady market. The weather continues to affect the market, with confirmation for better business getting prolonged. The grinds complex has inched higher, while interest in the loin complex and ribs have remained relatively steady. The excess availability for some items in the chuck and round areas has led to a steady trade. In terms of cattle slaughter, this week's total estimate is 1.5% higher than the previous week, with Thursday's estimated cattle slaughter being lower than the previous week. With the spring grilling season approaching, the meat market will be closely monitored to determine the trend in the coming weeks.
See below for the Spanish version:
Commentaires