Strong consumer demand along with tight supplies have 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 started to soften as retailers shift their seasonal ads to rib and chuck cuts.
• Ribeye pricing continues to increase as we approach the holiday months when demand and prices peak.
• 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 will be increasing significantly again in December primarily due to increased demand in Asian export markets and high cattle costs.
• Chuck roll pricing which increased to historical high levels will be decreasing significantly over the next month as retailers have 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.

.Overall, all chicken parts remain in well sold positions due to strong and consistent demand.

HPAI bird flu remains an ongoing area of concern as the fall migration has begun.

• Bone-In Thighs – Availability for bone-in thighs continues to be limited as retailers continue to feature poultry heavily.
• Boneless Skinless Thighs – Boneless skinless thigh prices have been decreasing as we enter the colder winter months
• Leg Meat – Chicken leg meat pricing has decreased slightly but remains at elevated levels due to strong export demand.
• Breast Meat – Breast meat prices have decreased over the past month but has firmed up recently as retailers feature portion breasts in their winter ad features.
• Wings – Wing demand remains robust. However, prices are starting to soften as we approach the home stretch of football season.
• Turkey – Turkey prices are stable as there remains adequate supply to support overall demand.

Poultry Outlook – With high beef prices, poultry still presents the best value in comparison to other proteins to consumers dealing with inflation.  

Pork Outlook – Similar to poultry, pork presents value to consumers as retailers feature pork more prominently in their ads.Export demand remains robust for pork, but there remains a 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.

With Prop 12 price increases, pork demand in California is significantly down from previous years.

• 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 are starting to increase but overall remain stable.
• Bellies – Belly priceshave increased over the past month and can be attributed mainly to stronger 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 as supply is very limited.

• The Alaskan catch will become available sometime in February/March 2025. Prices are anticipated to stay firm.

• Alaskan Bairdai will command a premium price (compared to the Opilio market).

Dungeness Crab

• The Southeast Alaskan Season began October 1st and runs through November 30th.

• The catches have not been good, majority of the crabs have been going to the live market.

• Prices for sections remain high and whole cooked are currently not available.

 Cold Water Atlantic Lobster Tails

• Pricing for Tails and Meat continues to rise.

• Maine season is down 30% in its landings

• Canadian season is set to begin November 25th. Over the last 4-5 years, the catch has been on the decline.

• Majority of the catch is going to overseas live market.