Every Daily Read

Beef chuck broke out: Choice short rib printed above its three week band. History leans lower from here: across the last 4 years, the four weeks after this calendar spot averaged a softer beef chuc...

Beef printed 20 cuts higher, 12 lower, on 1.6x normal volume. Seven of every ten beef pounds that cleared today were lean trim, nearly double the usual share. Chuck and the middles barely traded. B...

The bid in Choice rib ribeye bnls light carried through the close.

Beef flank took out the bottom of its range, led by Choice flank steak. Beef loin is lower a second session. The slide we flagged yesterday is still running.

The beef short plate complex broke out: Choice short plate short rib printed above its three week band. Beef loin is higher a second session. The bid we flagged yesterday is still running. History...

Beef loin took out the bottom of its range, led by Choice loin bottom sirloin flap.

Pork backribs 2.0#/up 1 pc vac is higher a second session. The bid we flagged yesterday is still running.

Beef chuck traded through the top of its range, Choice chuck clod arm roast out front. Beef chuck is still lower, extending its run.

Beef plate broke its three week floor. Choice plate inside skirt did the damage. Ground beef is still higher, extending its run.

Beef loin took out the bottom of its range, led by Choice loin bottom sirloin flap. Beef plate is still lower, extending its run. History leans lower from here: across the last 5 years, the four we...

Pork 42% trim combo broke its three week floor. 42% trim combo did the damage. History leans lower from here: across the last 5 years, the four weeks after this calendar spot averaged a softer pork...

Beef chuck took out the bottom of its range, led by Choice chuck short rib. Beef loin is still higher, extending its run. History leans lower from here: across the last 4 years, the four weeks afte...

The beef plate complex lost its floor: Choice plate inside skirt traded through the low end of its three week band. Beef loin is still lower, extending its run. The proteins parted ways on the sess...

The beef loin complex lost its floor: Choice loin short loin 0x1 traded through the low end of its three week band. Beef loin is still higher, extending its run. The proteins parted ways on the ses...

Beef plate broke its three week floor. Choice plate inside skirt did the damage. Beef loin is still lower, extending its run. History leans lower from here: across the last 5 years, the four weeks...

Beef rib broke its three week floor. Choice rib ribeye lip-on bn-in did the damage. The bid in Choice loin bottom sirloin flap carried through the close.

The ground beef complex lost its floor: ground beef 81% traded through the low end of its three week band. History leans lower from here: across the last 5 years, the four weeks after this calendar...

Pork sparerib traded through the top of its range, St Louis spareribs poly fzn out front. History leans lower from here: across the last 3 years, the four weeks after this calendar spot averaged a...

Strip loin broke hard at last close, down 108c on the session and outside its prior range to the downside, and the seasonal history is unambiguous: another 117c lower on average over the next four...

Flank steak at 1036c is the priciest thing on the board right now, up 39c on the session, but it's mid-range inside its three-week band so that's just noise. The more honest story is that beef load...

Outside skirt is at 1333c after a 303c single-session print, and history says it sheds 120c from here on average with the downside range running to 152c. That run is cooked. The problem is the rest...

Short plate's at 688c, up 29c on the week, and the four-week seasonal forward adds another 25c on average from here. That's one of the cleaner seasonal setups in the complex right now. The sirloin...

Bone-in lip-on ribeye shed 68c on the session and 135c on the week, and the seasonal forward adds another 37c from here on average, but with a range that swings 152c lower at the worst end. At 1090...

Outside skirt printed +200c on the session and the seasonal case against it is as clean as it gets: every year in the five-year sample it loses ground from here, median draw around 119c, worst case...

73CL fresh printed 340c after a 54c single-session jump, but that move wants scrutiny. Beef loads ran 30% below the five-year norm at last close, so the firming cutout and the trim spike are both s...

Retail feature activity dropped 24,348 slots week-over-week, and that pullback lands squarely on ground beef patties, which topped the feature list at nearly 18,000 stores. When grocers ease off th...

Choice cutout shed another $2.62/cwt at last close, but it's the lean grind lane holding the real tension. Fresh 73% chemical lean at 339c hasn't moved in days, pinned by a cow supply pipeline that...

Loin, bottom sirloin flap at 768c has shed 119c on the week and outside skirt dropped another 138c on the session, both cuts confirming the middle-meat and plate complex is giving back its seasonal...

The loonie's drop to 1.4233 is doing real damage today. USD/CAD widened 75 pips overnight, and that moves the landed cost on every US primal before a single market price shifts. Inside skirt at 699...

Ground beef 75% at 434c has run 62c on the month and history pulls it back around 28c from this point in June, so the grind complex has done most of its seasonal work. Select cutout gained 3.5c/cwt...

Chuck short rib has shed 73c on the month and sits at 493c, yet every year in the sample it adds back at least a couple bucks from this point in June, with the four-week forward averaging nearly 25...

Late drop today. The morning cron either waited on a delayed USDA print or retried after an earlier failure. The read below uses the freshest data on the desk now. Ground beef patties topped the r...

The Canadian dollar at 1.4122, down 126 points on the day, means every USD-denominated program running into Canada just got measurably more expensive on landed cost. Chuck short rib at 589c is the...

Outside skirt at 1414c is the loudest print in today's box, up 113c on the session after a 217c monthly run, and the four-week seasonal history says this cut typically gives back close to 80c from...

Chuck flap at 992c is sitting near recent highs and has historically given back around 53c over the next four weeks, yet it's holding firm today alongside a cutout that added over 3c on thin beef l...

Retail feature activity just jumped 9,400 slots week-over-week, with premium grind patties topping the list at over 6,600 stores. That kind of grocer loading typically pulls through to wholesale in...

Fresh 50% lean cow trim at 194c is the cleaner signal today, up 11c on the session with a seasonal forward that adds another 31c over the next four weeks. That move reflects the same packer-side lo...

Chuck short rib at 588c has added 26c on the session and 58c on the week, and the four-week seasonal projection adds another 35c from here with a floor that hasn't once gone negative in five years....

65CL at 277c printed a 27c single-session gain, and that kind of move in a middle-of-the-trim-range cut usually means the squeeze has broadened past the fine-grind grades and is pulling the whole l...

Trim is running away from the middle meats today, and the gap between those two lanes is widening in a way that matters depending on which side of the carcass you're buying. Chemical lean 50CL at 1...

Ground beef 75s jumped 42c overnight to 408c, and that move is landing on a week when grocers just pulled 25,757 feature slots out of the market. That's a meaningful disconnect: retail is easing of...

Fresh 50CL at 196c, up 14c overnight, is now the loudest signal in the box today, and the condition producing it isn't a fresh demand bid. It's supply. The cow kill running tight and cold storage a...

The NASS kill print this afternoon is the hinge today, and what it's likely to confirm is already visible in the lean trim complex. Fresh 81s gained 13c on the week without a single day-over-day ti...

Chemical lean 92-94CL at 485c hasn't moved in a week on a daily basis, but it's up over the month and the four-week seasonal forward adds another 9.8c with a floor that's been positive every year i...

Ball-tip at 626c printed a 37c one-day pop, which stands out less for the size of the move and more for what it confirms: the trim and end-meat complex is carrying this carcass while the middle mea...

Tenderloin at 1,614c is the loudest number on the board today, up 109c overnight and 147c on the month, but the seasonal forward drops it 102c over the next four weeks with a floor that has broken...

Pork carcass adding 76c on heavy loads while beef gives back 2.40 on thin volume is a clean demand divergence, and it's doing something specific to the beef side: retailers facing a firm pork bid t...

Fresh 50CL at 187.79c, up 6c on the day and 11c on the week, is moving against a pork complex that's heading the other direction. Pork loads running 22% above their five-year average are pushing th...

Ball-tip at 660c, up 34c on the week, is where the carcass split is most visible today. Lean trim is running nearly two and a half times the pace of middle meats in terms of cumulative gains, and t...

Fresh 50CL at 191c hasn't made a dramatic daily move, but it's crept higher weekly and history carries it another 25c from here over the next four weeks, with the cow kill short and the grind compl...

Pork carcass firming to a heavy-loads print while the beef cutout eases on thin volume is the clearest divergence this market has shown in weeks. That's not a substitution story for a buyer with fi...

81s held 377c today without budging a cent day-over-day, which is the lean complex doing something different than the round board. Top inside denuded gave back 72c in a single session after Wednesd...

Top inside denuded printed 564c today, up 92c in a single session after already gaining 66c on the week. That kind of vertical move in a round cut usually means export-sensitive supply dried up fas...

Fresh 90CL at 469c lost 10c overnight while the weekly gain still reads 21c higher, and that day-over-day dip inside a firm weekly trend is the lean trim complex telling you the bid is running in w...

Retail feature activity jumped nearly 19,000 stores week-over-week, and the top feature is ground beef patties sitting in over 14,000 locations. That volume of grind promotion hitting shelves this...

Ground beef 73% at 364c is running a different race than the rest of the beef board today. It gained 24c in a single session and 22c on the week while tenderloin dropped 194c and the short loin she...

Boneless ribeye at 1163c is shedding 155c in a single session, and that kind of single-day gap in a middle meat usually signals the bid dried up fast, not that fundamentals turned. Beef cutout is e...

Pork carcass off 1.46c today against beef's softer but more contained 0.49c decline, and the divergence runs deeper than the headline numbers. Heavy pork loads are moving freely while beef flows ra...

Ground beef 73% at 365c is the loudest line on the board, up 30c on the day and 43c on the month, with history pointing to another 17c from here. That's not a soft print anywhere in the trim comple...