BEEF TRENDS

Beef Trends - April 26, 2024

All current beef pricing trends are based on USDA data as of April 24, 2024. Last week’s trends refer to the USDA market for the week ending April 19, 2024.

Live cattle sold mostly between $1.81 and $1.83/lb. last week. Live cattle are expected to remain steadily priced this week, according to analysts.

Last week’s slaughter was about 620K head, which was up compared to the previous week, and is expected to remain steady going forward, according to analysts.

For grading in the week ending April 13, 84.3% of cattle graded as Choice or higher, and 12% graded as Select, with the remaining 3.7% being Ungraded.

GRINDS

GROUND CHUCK:

Ground Chuck was up last week, but has decreased this week through three days of trading. Analysts expect the Ground Chuck market to be steady through spring, and report that supplies remain adequate.

GROUND BEEF 81/19:

81/19 Ground Beef traded up last week, and has continued to increase this week through three days of trading. Similar to Ground Chuck, analysts expect the market to be steady in the short term.

GROUND Beef 73/27:

73/27 Ground Beef traded up last week, and has continued to increase this week through three days of trading. Analysts expect this market to be steady through spring.

ROUNDS

PEELED KNUCKLES:

Choice Peeled Knuckles declined last week, while Select grade increased. This week, both grades have declined through three days of trading. Analysts expect the Peeled Knuckles market to hold steady in the short term.

INSIDE ROUNDS:

Choice Inside Rounds increased last week, while Select grade was flat. This week, that same trend has continued through three days of trading. Analysts believe the market will hold steady in the short term, then increase later in spring.

BOTTOM ROUND FLATS:

Choice Bottom Round Flats decreased last week, while Select grade increased. This week, both grades have increased through three days of trading. Analysts expect the market to increase in the short term.

EYES OF ROUND:

Choice Eyes of Round were flat last week, while Select grade increased. This week, both grades have increased through three days of trading. Analysts expect the market declines to diminish, followed by steady increases going into May.

LOINS

STRIPS:

Choice Strip Loins decreased last week, while Select grade increased. This week, both grades have decreased through three days of trading. Analysts believe that the market will hold steady now through summer.

TOP BUTTS:

The Top Butts market declined last week. This week, Choice grade has continued to decline, while Select grade has increased through three days of trading. Analysts expect the market to hold steady in the short term.

TENDERLOINS:

The Tenderloin market declined last week. This week, both grades have increased through three days of trading. Analysts expect the market to remain choppy in the short term, and report that demand continues to remain soft and supplies remain good.

RIBS

RIBEYES:

The Ribeye market declined last week. This week, both Light and Heavy Ribeyes have increased except for Choice Heavy Ribeyes, which have decreased through three days of trading. Analysts expect the market to hold steady in the short term, then increase in May.

CHUCKS

CHUCK ROLLS:

The Chuck Rolls market decreased last week. This week, Choice grade has continued to decline, while Select grade is flat through three days of trading. Analysts expect the market to hold steady in the short term.

TERES MAJORs:

The Teres Majors market declined last week, and has continued to fall this week through three days of trading. Analysts expect the market to hold steady through April, then increase in May.

BRISKETS:

Choice Briskets declined last week, while Select grade increased. This week, Choice grade has increased, while Select grade has decreased through three days of trading. Analysts expect the market to hold steady in the short term, with good inventory reported.

THIN MEATS

BALL TIPS:

The Ball Tips market decreased last week. This week, Choice grade has increased, while Select grade has decreased through three days of trading. Analysts believe that the market will be steady through spring, with limited availability reported on Choice grade.

FLAP MEAT:

The Flap Meat market declined last week. This week, Select grade has increased, while Choice grade has continued to decline through three days of trading. Analysts expect the market to be steady to up through late May.

FLANK STEAK:

The Flank Steak market increased last week, and has continued to increase this week through three days of trading. Analysts believe the market will be steady in the short term.

SKIRT STEAK:

Outside Skirts decreased last week, but have increased this week through three days of trading. Analysts expect the market to be steady to up through May.