With the start of summer upon us, record high cattle costs and limited cattle availability continue to keep beef prices at elevated levels. 

Despite high beef prices, consumer demand remains strong both domestically and abroad in export markets. 

With beef companies under pressure to minimize operating losses, reduced slaughter levels are increasing the likelihood of potential shortages as seasonal demand surges in the summer months. 

Despite limited cattle availability, heavier cattle carcass weights have helped to offset the reduced cattle supply. 

With cattle being on feed longer, grading for choice, premium, and prime should remain strong for the foreseeable future. Availability for lower grades such as select continues to be limited, which has led to higher prices. 

• Ground beef pricing continues to increase due to increased seasonal demand during grilling season as well reduced cattle supplies affecting raw material for grinding. 

• Ribeye pricing has softened over the past month as there has been strong pushback from the retail and foodservice segment, but prices remain at historically high levels.   

• Striploin pricing has remained unseasonably high but is under pressure as consumers shift to more economical beef cuts.  

• Chuck flat pricing decreased in June due to tariffs impacting the flow of U.S. beef to Asia. In July prices will increase slightly as demand has increased in domestic and export markets.  

• Chuck Roll prices remain high as end cuts are being earmarked to fill grind demand and make up for the short fall of grind trim.    

• Sliced beef short rib pricing continues to remain at elevated levels due to limited availability of raw material.  

• Oxtail prices remain stable for now but are under pressure due to the limited cattle supplies.   

With tight cattle supplies and continued strong consumer demand, beef prices will remain elevated.

With record high temperatures projected for the summer months in poultry producing states, producers will be monitoring how this affects hatchability and bird mortality.  

Overall chicken demand remains strong and consistent as retailers continue to feature chicken meat parts in their weekly ad features. 

• BI Thighs – Availability for BI Thighs continues to be limited as retailers continue to feature poultry heavily.    

• BL SL Thighs – BL SL Thigh prices have softened recently but are expected to increase during the upcoming summer grilling season. 

• Legmeat – Chicken leg meat pricing remains at elevated levels and has been further supported by shifting demand from breast meat. 

• Breastmeat – Breast meat prices will be decreasing significantly as retailers are shifting to dark meat for their summer grilling ads.   

• Wings – Wing prices have bottomed out and are expected to increase as we approach mid-summer. 

• Turkey – Turkey prices are trending upward due to reduced availability and steady demand. For the remainder of the year, we should expect higher prices due to the reduced turkey supply. 

Poultry Outlook – With high beef prices, poultry remains the protein of choice for consumers seeking value and affordability. 

With high beef and chicken prices, pork remains the best value for both the retail and food service segments. 

Heading into the summer, pork demand remains strong and is supporting higher prices for all parts. 

With the resurgence of FMD (Foot-and-Mouth Disease) in the EU (European Union) the U.S. has filled the void to other export markets as Europe has not been producing surplus pork for export.

• Butts– Boneless butt prices have been increasing primarily due to strong domestic demand. Bone In butt prices continue to increase as bone in inventory is being deboned to help fill the increased boneless demand.  

• Hams– Ham demand remains strong as tariffs have not negatively impacted exports to Mexico.   

• Back Ribs & Spare Ribs- Rib prices continue to increase as retailers feature ribs prominently on their front-page summer grilling ads. 

• Bellies- Domestic belly demand has been supporting higher prices as bacon is expected to be featured more heavily during the summer. For bellies imported from Europe, higher prices are expected due to the impact of tariffs and reduced pork availability in Europe. 

Pork Outlook – With increasing seasonal demand and higher prices in competing proteins, pork prices are expected to increase as retailers feature pork more heavily in their summer ad features. 

Snow Crab (Opilio) 

• Newfoundland is currently 75% through their quota.   

• Packers are still backordered for 2-3 weeks in filling orders. This is due to Japan and retail sector stepping in to secure product.    

• Prices have started to move up due to the large orders from Japan and the retail sector. 

Cold Water Lobster Tails  

• The Canadian Spring Season is set to close at the end of this week.    

• Production is down 20-25% from last year due to high winds and cold waters.  

• Smaller sized tails are hard to come by (3-4oz through 5-6oz).  Meat pricing is also strong.  

• Next season will begin in the middle of August.  All indications are that the catches will be down. 

Mahi Mahi 

• Taiwan and Indonesia catches are still very poor.  

• Not much mahi are being caught, large fish are very scarce.  

• All Mahi inventories are limited, especially the large fillets and large portions. Many suppliers have allocations in place to sell to current customers only. 

Vannmei White Shrimp (India) 

• Current season is in full production.     

• Harvesting has been good.  

• Prices remain firm to rising due to demand.