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Beef, Veal, Lamb |
Weekly Pork Commentary
With the calendar approaching May and charts telling sellers that higher prices loom ahead, many thought that trading levels for retail cuts might start creeping higher this week. But, an increase in harvest rates and additional tonnage from record hog weights for this time of the year squelched the upward trend and prices held on by a thread to be mostly steady with weakness noted as buyer interest continued to be limited. Also, many retailers have not lowered their feature prices as they try and make up for lost revenue from beef cuts with pork. Bone-in ham price levels firmed slightly on light trading with just a few token trades sparking the advance. At the same time, sellers had better sold position while buyer interest was light. Seedless belly inventories remain burdensome for sellers as price levels continue their downward trend, although fresh belly prices haven’t been this low since January of 2010. Bacon prices at the retail counter remain high in relation to the raw product as consumers keep their distance from the meat case. Trimmings experienced lighter offerings while demand was light to moderate. This caused price levels to firm as sausage manufacturer’s ramp up production for summer grilling items.
The Pork Report for April 28, 2012
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.