With tight cattle supplies and continued strong consumer demand, beef prices are expected to remain at elevated levels.​

As heifer retention has yet to begin, live cattle prices paid by beef packers are at record high levels.​

With persistent high cattle costs, beef companies will be challenged to remain profitable amidst margin compression.​

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 remains elevated primarily due to the high cost of lean trim & end cuts used as grind material.
• Post holidays, ribeye & tenderloin pricing have decreased significantly over the past month. However, the new low pricing levels are higher than this time last year.
• Striploin pricing has been increasing as retailers plan to feature striploin prominently in their spring grilling season ads.
• Chuck flat pricing, which increased in February, will decrease in March as packers have faced significant pushbacks from the retail and foodservice segments.
• Chuck Roll pricing has started to decrease but there remains strong demand in the entire chuck complex due to retailers booking products for future ads and processors using end cuts for their grind supplies.
• Sliced beef short rib pricing continues to remain at elevated levels due to limited availability of raw material.
• Oxtail prices, which have been steady, will be increasing slightly due to the limited cattle supplies.

Despite high beef prices and inflationary pressure, beef demand remains strong amongst consumers.

As we approach spring, we should expect continued price volatility as uncertainty remains over how consumers will react to high beef prices.

With ongoing high beef prices, poultry demand has increased with consumers seeking value and affordable protein options.Turkey prices are stable as there remains adequate supply to support overall demand.With positive cases on the rise, the HPAI bird flu remains an ongoing area of concern for poultry producers.

While there have been discussions surrounding vaccinations, the poultry industry remains reluctant due to the negative impact for producers exporting overseas.

Despite ongoing bird health issues, the overall demand for all chicken parts remains strong and consistent.

• Bone-In Thighs –Availability for BI Thighs continues to be limited as retailers continue to feature poultry heavily.
• Boneless Skinless Thighs – Prices will be increasing due to higher demand and lighter live bird weights affecting chicken supplies.
• Leg Meat – Pricing continues to increase due to strong domestic demand.
• Breast Meat – Breast meat prices have been increasing significantly with retail and foodservice demand supporting higher prices..
• Wings –Wing demand has been steadily increasing due to the overall strength of the chicken complex.
• Turkey – Turkey prices are stable as there remains adequate supply to support overall demand.

Poultry Outlook – With ongoing high beef prices, poultry demand has increased with consumers seeking value and affordable protein options.

Rib prices have been steadily increasing as retailers have started to position themselves for future grilling season ads when the weather begins to warm up.Despite strong export and domestic demand, there remains a more than adequate inventory of hogs in the supply chain.

With the EU (European Union) not producing excess pork for export due to burdensome regulatory requirements, the U.S. has filled the void to other export markets.

• Butts – Boneless butt prices remain stable, supported by steady export bookings to Japan and South Korea.
• Hams – Ham demand remains strong but could potentially be affected by tariffs as Mexico is the top importer of U.S. hams.
• Back Ribs – Rib prices have been steadily increasing as retailers have started to position themselves for future grilling season ads when the weather begins to warm up.
• Bellies – Stronger domestic belly demand has been supporting higher prices. For bellies imported from Europe, prices are under pressure with the recent foot and mouth disease outbreak in Germany affecting the supply of European pork.

Pork Outlook – With high beef prices and rising poultry demand, pork demand is poised to increase due to stable pricing and ample supply.

Snow Crab (Opilio)

• 25% Tariffs on Canadian product are on pause until March 6, 2025.
• Canada has the largest quota in the world. 90% of the catch is imported into the US.​
• Canadian Season will begin the middle of March.​
• Expect some decreases in the quota.

Dungeness Crab

• Pacific Northwest through Northern California is experiencing low catch numbers.​
• Bad weather, poor meat fill rates to just less crab being caught are to blame.​
• Current estimates put the catch at less than 60% of 23-24 season totals.​
• Expect prices to be very strong on whole cooked and clusters.

Vannmei White Shrimp (India)

• Prices remain strong on all sizes.​
• Next harvest is set to begin in April.

Coldwater Lobster Tails

• 25% Tariffs on Canadian product are on pause until March 6, 2025.​
• Spring Harvest will begin May 1st and run through June.