Thanks for joining me today, let's look at a few markets heading into Mother’s Day weekend. Let's start as usual with beef.

We’ve had a couple weeks of relatively stable pricing, and I think we’ve got another week, maybe two before summer fun and demand start pushing prices up. Beef harvest last week was 534K head, up a few from the 529K the week prior. That keeps inventories very tight. Middle meats, those Ribeyes, strip loins, and tenderloins are finding modest support moving minimally higher. Rounds and chucks are holding fairly steady. I think as we see hamburger move higher, makes sense to move chucks and rounds into the grinder to support ground beef demand. Thin meats were on a rocket heading into May. They aren’t giving back any of those recent gains, but they are holding fairly steady for now. I do think this is a buying opportunity as I do think this market will turn higher over the next few weeks.

Chicken production continues pace ahead of last year by about 2%. Demand is holding up though we do see a small decline in boneless skinless random breasts, tenders and party wings are holding steady for the week. I do think the next move for chicken prices will push higher but as with beef, I think we’ll take a breather for a week or so. On Avian Flu, a very good week, one new case reported affecting 110 birds. We had a tough start to spring but hopefully this is a sign of a calmer end of spring into summer.

Soy continues to demand the attention in grain pushing higher every day. When gas is high as we are currently seeing, soy demand for biofuels gets serious, corn continues to be steady closing at $4.72 up from last week $4.71, so not much going on in corn. Wheat is getting international interest and pushing up a bit.

Pork bellies are down again this week, todays close $125, down from last week $135. I do think we will see a summer run on bellies but looks like we have some buying opportunities before that happens. The rest of the pork complex is seeing increases, butts and ribs moving up for the week, while loins continue to be a great value.

The CME close on Thursday shows a well-balanced market, butter is down 5, barrel has not change and block is down 1. We can always use a bit of good news on the CME.

Savalfoods.com | Find us on Social Media: Instagram, Facebook, YouTube, Twitter, LinkedIn

Try to say "Avian Flu Front" five times fast, go ahead, give it a whirl.

The beef market is continuing the market correction started last week. Middle meats were leading this market higher, and now they are leading this market lower. Ribeyes, Tenderloins, Strip Loins, all lower for the week. Rounds and Chucks coming off as well. The one area the reduced harvest numbers are really pushing on is thin meats, briskets, flanks, sirloin flap, and skirt steak all steadily moving higher each week. I expect we will see this continue higher right into Cinco de Mayo. Mother’s Day is right after, so we do have some events coming to move some beef. I’d still stay ahead of my needs, cattle harvest was only 512K last week, down from 533K the week before so while prices may be declining, inventories continue to be tight.

Chicken demand remains strong and production is continuing to outpace last year running about 2% up for the year. Recently boneless skinless randoms and tenders have been on a weekly move higher. It looks like randoms will take a little breather and actually decline a few pennies, tenders and wings will continue higher for next week. Overall I still see this market continuing higher at least the next few weeks. On the Avian flu front, another relatively good week, 3 new cases affecting 251K birds. Heat is not this virus’s friend, so hopefully as the weather warms the virus will be less active.

War can’t move the corn market, this week’s close $4.55/bushel, last week’s close $4.53. New crop is coming and we still have plenty of last year’s crop and I believe still some 2024 crop; there is lots of corn available. Soy: now soy moved higher a few weeks ago, not letting go those recent gains and demand for biofuel is keeping soybeans moving. Wheat is seeing effects of internation unrest, market is up $.13bushel from last week. Nothing to panic but I think we will see modest increases in flour pricing.

I started seeing the pork belly market move lower this week, then it just dropped, today’s close $136 down from last week’s $149. This market reset should move bacon prices down. The rest of the pork complex is moving by pennies, butts, loins, ribs, all a good value with good availability.

A split market this week in dairy, thru Thursday’s close the CME for butter is up 2, while the barrel is down 1 and block down 3. Production numbers say this should be a stable market at least for the next few weeks.

Savalfoods.com | Find us on Social Media: Instagram, Facebook, YouTube, Twitter, LinkedIn

We are well into spring now and some things are shaking in the beef market. First good news, though the strike is not settled, the JBS workers are returning to work while negotiations continue. Good news, beef harvest increased to 533K still running about 10% behind last year, supplies remain very tight. Good news, market prices seem to be pushing back a bit, maybe this is moving higher too quickly? I still think this bull market will continue to move higher into spring, but I do think we’ve got a little breather for a week or so. Rounds and chucks are both down a bit this week, more good news. Middle meats are steady to slightly higher this week, but thin meats, those flanks, skirt, sirloin flat meat, all still expensive and moving higher. Typically, thin meats will peak around Cinco de Mayo, which is not that far way.

POULTRY: Chicken production continues to outpace last year, up 2% so far this year. Hatch rate is improving 79.3% - chicken is in full production. Demand is right there with it, chicken, still a great value in protein, but pricing is moving higher. Boneless skinless randoms breasts, tenders, party wings, all moving higher. I think we’ll see this market move higher the next few weeks.

On Avian flu, a relatively good week with 3 new cases affecting 111K birds. As spring migration tapers off let's hope the virus does too.

GRAINS : Corn barely moved from $4.54 to $4.53 this week. Wheat about the same, soy is holding onto all their recent gains. With the cost of fuel moving higher, demand for biofuels will increase, soy and canola continue to inch up on daily markets.

PORK: Last week bellies closed at $149, same this week, steady at $149. I’m thinking we will continue in this $150 market for a few more weeks, next move should be higher, but I’m going to push that out a few weeks. The rest of the pork complex is well supplied and priced well. Butts inch up a penny, loins and ribs steady.

DAIRY Dairy markets holding pretty steady for the week, Thru Thursday’s CME close block is down 2, barrel is steady, no change, and butter down 4. Spring production is good and availability is very good.

Savalfoods.com | Find us on Social Media: Instagram, Facebook, YouTube, Twitter, LinkedIn