High Steaks, Low Falls 🥩📉🐓

Summer’s still sizzling in the beef market, but other proteins and dairy are slipping. From ribeye highs to butter slides, it’s a week of high steaks and low falls across the board.

BEEF: Signs point to the market finally cooling as we move through September – but it may be short-lived. Ribeyes, tenderloins, chucks, rounds, and grinds are still climbing, though thin meats like skirts and briskets are starting to slip. With herds small and Mexico still closed, high prices aren’t going anywhere soon… moderation may be coming, but not just yet.

POULTRY: Production stays strong – up about 1% – but prices are sliding for the second week straight. Wings, breasts, and tenders are all moving lower, making chicken a solid feature right now. Still, with one new avian flu case reported and cooler weather coming, could we see trouble ahead?

GRAINS: Corn nudged back over $4 for the first time in three weeks as export demand looks solid and crop estimates soften a bit from “best ever” to “some issues.” Soy keeps trying to rally but can’t quite get there, while wheat remains the bargain buy of the bunch.

PORK: Bellies are stuck in the $180–$185 range, closing at $182 – but the next move looks lower, so it’s not the time to load up. Butts and ribs are bouncing back after recent declines, while loins continue to be the standout value cut.

DAIRY: Week three of a sliding CME – barrel down 1, block down 3, and butter off another 11 after last week’s steep drop. It’s not a massive slide, but the steady decline is adding up – will the dip deepen, or start to level out?

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