Beef

Beef markets were mixed last week. Production jumped from the holiday-shortened prior week, but output still ran below last year as lower slaughter was only partly offset by heavier carcass weights. Choice cutout and trim were mostly firm while select softened, with ribs leading and briskets, loins, and plates moving lower.

Poultry

Chicken supply remains ample and the tone is weak to mixed. Slaughter and production both moved higher from the prior holiday week and continued to run ahead of last year, with strong layer efficiency and hatchery data pointing to continued supply growth. On the item level, the front half of the bird stayed under pressure while boneless skinless thighs and leg quarters were firmer.

Pork

Pork was mixed overall but with a firmer undertone. Production jumped from the holiday-shortened week and remained above last year, while the cutout has continued to improve over the past month. Bellies led the weekly gainers, but ribs and butts were lower on the week, and trim stayed firm. Seasonal supply should ease in the coming months, though output is still expected to run ahead of last year’s pace.

Bacon

Belly markets turned higher this week after a multi-week slide. The belly complex posted its first up week in five, and raw bacon pricing flipped higher for the week of 06/07 after several straight weekly declines. Near-term tone is firmer as summer feature demand starts to engage, and the market looks like it is trying to put in a floor.