Strong consumer demand along with tight supplies has supported high beef prices. Despite the ongoing cattle shortage, packers have increased production to fill robust retail and foodservice demand. Cattle carcass weights continue to be at record levels which have helped to offset the reduced supply. Grading continues to be predominantly choice, premium, and prime. Availability for lower grades such as select remains limited.

•  Ground beef pricing has decreased slightly as retailers have shifted their seasonal ads to rib and chuck cuts.

• Ribeye pricing is at peak levels as we are in the holiday rib season and will remain high for the remainder of the year.

• Striploin pricing has been increasing steadily but still presents a more economical holiday roast beef option in comparison to the higher priced ribeye and tenderloin.

• Chuck flat pricing increased again in December primarily due to robust demand in Asian export markets and the strong forward sold position for end cuts. For January, prices will increase slightly as cattle costs continue to remain high and demand holds steady.

• Chuck Roll pricing has decreased significantly from the historical high levels last month as retailers pushed back against the high prices in the chuck complex.

• Sliced beef short rib pricing continues to remain at elevated levels due to limited availability of raw material.

• Oxtail prices have increased slightly as we approach the winter months.

  .

With record low cattle inventory coupled with strong demand we should expect high beef prices for the remainder of the year.

Poultry Outlook – With high beef prices and ongoing economic challenges, poultry presents the best value for consumers in comparison to other proteins.Overall, all chicken parts remain in well sold positions due to strong and consistent demand.

· HPAI bird flu outbreaks have surfaced in several states with the fall migration underway.

• Bone-In Thighs – Availability for BI Thighs continues to be limited as retailers continue to feature poultry heavily.
• Boneless Skinless Thighs – Prices will be decreasing as packers have increased production ahead of the back-to-back holiday weeks.
• Leg Meat – Chicken leg meat pricing has decreased slightly but remains at elevated levels due to strong domestic demand.
• Breast Meat – Prices have held steady as retailers bulk up on inventory in preparation for their post-holiday ads.
• Wings – Wing demand remains robust. However, prices are trending downward for January with the football season nearing an end.
• Turkey – Prices are stable as there remains adequate supply to support overall demand.

Poultry Outlook – With high beef prices and ongoing economic challenges, poultry presents the best value for consumers in comparison to other proteins.

Export demand remains strong for pork, and there is more than adequate inventory of hogs in the supply chain.

In comparison to higher priced beef, pork continues to be the most stable protein in terms of pricing and supply.

• Butts – Boneless butt prices remain steady primarily due to export bookings to overseas Asian export markets.
• Hams – Ham demand has been robust with the holiday ham season underway and is driving profitability for packers in the pork cutout.
• Back Ribs – Rib prices will be increasing slightly as retailers feature ribs more prominently in their ads.
• Bellies – Belly prices remain steady supported by domestic retail demand.

Pork Outlook – Similar to poultry, pork presents value to consumers as retailers feature pork more prominently in their ads.     

Snow Crab (Opilio)

• Prices continue to increase due to the lack of inventory and holding costs continue to climb.

• The Alaskan Season will only produce 10-15% of the Canadian Season in comparison.  It will not bring any relief in pricing..

• 2025 Canadian Season will begin in March/April. 

Cold Water Atlantic Lobster Tails

• Pricing is still strong for tails and meat. 

• The live market in Europe and China remains strong.

• The winter Season was delayed by a week (Originally set for November 25th).  Most of the catch will go to the live market.

 Vannmei White Shrimp (India)

• Prices have been firming up due to increased feed and labor costs.

• Larger demand for shrimp during the holidays has also added pressure to pricing. 

• Expect the market to stay firm until the next harvest in early 2025.