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Weekly Pork Commentary
Supplies remained a drudge to sellers of retail pork again this week. Buyers remained reluctant to buy any extra meat as consumers grabbed their minimal needs at grocery counters. These, were the driving forces that caused trading levels for loins, butts, and spareribs to deteriorate throughout the week. Bone-in ham price levels rebounded slightly when compared to last week, mostly due to lighter harvest which produced lighter offerings. Although, ham buyers bought on an as needed basis, most were willing to pay higher to procure the raw product. The main concern for processors was trying to find orders for their boneless ham muscles, as the backlog continues and lower price levels were noted. Seedless bellies began the session with heavy offerings while price levels dropped sharply throughout the week. Although, movement was slow in spite of this, the majority was freezer bound. Bacon slicers have only been slicing to meet their demand from foodservice while retail orders were practically nil. Slicing lines are running basic production schedules to meet this reduced demand. Lean trimmings experienced light to moderate offerings while demand was light. Early in the session the surplus inventories cleared the market at reduced price levels. However, once this excess cleared lighter offerings caused price levels to firm for the remainder of the session.
The Pork Report for May 7, 2011
Note: The pricing below is USDA commodity and/or wholesale pricing. It should be used as a guide to monitor market conditions and is not in any way comparable to distributor invoice pricing.