As we head into Thanksgiving, the markets are serving up a mixed plate — some items are easing, others are heating up, and a few might burn your budget. Whether it’s a gravy train or a little holiday pain depends on the protein. Let’s dig in and see what’s really simmering this week.

BEEF: Middle meats are heating up fast for the holidays, with ribeyes, strips, and tenderloins pushing higher and showing no signs of slowing. Chucks and rounds are softening a bit, but ground beef is still gaining strength — the question is how high these premiums will run through December.

POULTRY: Chicken remains steady despite massive production levels, with wings, breasts, and tenders barely moving. But after 23 new avian flu cases this week, will this calm hold through the winter migration?

GRAINS: Soy tried to rally and stalled, corn slipped, and wheat held steady — nothing seems able to spark this market. With winter wheat nearly fully planted, the real question is what it will take to break this grain gridlock.

PORK: Bellies finally broke lower, dropping $22 to $118, and this softer market may carry well into December. With strong production and plenty of supply, will pork remain the best value on the protein board?

DAIRY: Dairy keeps sliding, with block, barrel, and butter all moving lower again — and butter now at its cheapest point since 2021. The big question: will low holiday pricing spark demand, or is there still more room to fall?

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Markets are shifting as the holidays approach — beef heats up with middle meats climbing, chicken stays steady, and pork holds its value. Grains stay quiet, and dairy continues to slide with butter finally leveling off. The big question: is this the start of the holiday run-up, or just the calm before real volatility hits?

BEEF: Middle meats are stealing the show as ribeyes, tenderloins, and strips push higher into the holidays. With grinds leading the pack and demand building, this market’s heating up fast — the only question is how high it’ll climb before December cools it down.

POULTRY: Chicken remains steady and well supplied, prices barely moving either way. But with another wave of avian flu reports and migration season still underway, how long can this calm market last?

GRAINS: Corn, soy, and wheat all dipped slightly after last week’s optimism faded. Good news for feeders — not so much for farmers — but could holiday demand finally stir this sleepy grain market?

PORK: Bellies are steady around $140, keeping bacon lovers happy and buyers relaxed. Pork remains one of the best protein values out there — but how long will this balanced market hold?

DAIRY: Butter finally stopped sliding, but cheese keeps melting down with barrels and blocks still dropping. With prices this low, could we be setting up for a holiday dairy rebound?

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As the holidays close in, markets are showing their seasonal split — beef buyers are getting bold while poultry prices cool and dairy keeps sliding. With soy stirring and pork settling, everyone’s stocking up for the end-of-year rush… but which way will prices break when the wrapping paper comes off?

BEEF: Holiday buying is kicking in and prices are heading higher across the board, with ribeyes, tenderloins, and even strips taking off. Demand is rising, supply isn’t budging, and this market looks set to climb straight into December — the only question is how fast.

POULTRY: Chicken remains steady with strong production and flat pricing — barely a penny either way. But with fresh avian flu cases popping up again, will this calm market hold through the holidays?

GRAINS: Soy finally woke up on export news, with wheat following higher, while corn slipped a touch. If global buying picks up, could this be the start of that grain momentum we’ve been waiting for?

PORK: Bellies pulled back to $140 after last week’s spike, making now a great time for bacon buyers. Pork remains one of the best values in protein — but will seasonal demand tighten things up heading into winter?

DAIRY: Last week’s bump vanished fast — cheese and butter dropped again, turning dairy into a surprising value play. The question now is whether holiday demand can stop this slide or if prices keep melting.

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Markets are starting to settle after weeks of decline. Beef finds its bottom, chicken holds steady, pork pops, and dairy and grains edge higher. The big question — is this the foundation for a rebound, or just a pause before the next dip?

BEEF: After weeks of decline, the market has found its floor. Ribeyes, tenderloins, and strips are on the rise again — the question is how fast this rebound will move.

POULTRY: Chicken prices have steadied after big drops, with only minor movement expected. But as avian flu cases climb again, how long can this calm last?

GRAINS: Talk of a new trade deal with China pushed corn, soy, and wheat higher. If exports pick up, could this be the start of a grain rally?

PORK: Bellies spiked $20 to $151, catching the market off guard. Is this a one-week blip or the start of a seasonal climb?

DAIRY: Cheese is moving higher, butter finally holding steady. The big question — can demand keep this rally alive with supply still strong?

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Still no government reports on markets, but we're piecing a few things together to get a good feel of what's happening. Butter is now trading at levels we’ve not seen since the pandemic five years ago. I don’t think there is much more downside to this butter market, but lets see where it goes. I do think cheese has better potential for a minor rally for the next few weeks.

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Chicken prices have hit their lowest level in two years, making it the week’s biggest story. Beef’s slowdown continues, pork holds steady, and dairy drifts lower — but poultry steals the spotlight as the market’s best deal.

BEEF: Prices are still drifting lower, though the declines are slowing. Middle meats are already ticking back up, hinting that the bottom may be near — but just how long before demand heats things up again?

POULTRY: Chicken prices keep sliding, with boneless skinless breasts hitting their lowest point in two years. As demand cools and avian flu flares, the question is: how much longer can this market remain this soft?

GRAINS: Harvests are booming and inventories are stacked, leaving corn, soy, and wheat all stuck in neutral. With talk of a biofuel push on the horizon, could soy finally be what shakes this market awake?

PORK: Pork is steady, bellies holding at $134 while production rises with cooler weather. Processors may soon start stockpiling for spring, but for now, is this the calm before the climb?

DAIRY: Last week’s brief rally fizzled, with cheese and butter slipping again. Butter remains a seasonal bargain, but the question is — can this quiet market stay this smooth through the holidays?

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Markets have slowed to a crawl, with beef, chicken, and pork all easing while buyers wait for a clear direction. Grains stay quiet, and dairy can’t decide which way to move. It’s a week of watching, waiting, and wondering what’s next.

BEEF: The market keeps trending lower as buyers wait for the bottom, with even middle meats taking a brief pause. The question is – are we nearing the end of this slide, or just the calm before the holiday push?

POULTRY: Chicken is nearing the bottom of its market slide, with boneless skinless breasts at their lowest price in 18 months and wings and tenders still drifting lower. The real test will come if avian flu worsens — could another surge flip this calm market on its head?

GRAINS: With no new government reports, the markets stayed quiet — corn slipped slightly to $4.02 while soy and wheat barely budged. It’s a holding pattern for now, but how long can these calm prices last before harvest data shakes things up?

PORK: Bellies keep sliding, closing at $134 from last week’s $151 — good news for anyone buying bacon. The rest of the pork market is holding steady for now, but will this calm stretch last, or is another swing around the corner?

DAIRY: The CME is split this week — cheese is climbing again with block up ½ and barrel up 4, while butter slid another 9 points. The question now is whether this mixed trend signals a market shift, or just more churn before the holidays.

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This week the markets send mixed signals – beef prices slide but middle meats refuse to budge, chicken keeps dropping while avian flu stirs again, and pork bellies dip as loins hold value. Grains stay calm and dairy finally bounces after weeks of decline. Is this the start of real relief, or just the setup for another rally?

BEEF: Prices are slipping across most cuts, with chucks, sirloin flap, rounds, and grinds leading the way lower. Even ribeyes and tenderloins paused their climb, though holiday demand will likely push them higher again soon. The big question – will packers tighten harvests to stop the fall, or do we get a few more weeks of relief?

POULTRY: Chicken prices keep sliding, with boneless skinless breasts hitting 18-month lows and no clear bottom yet. Production still looks strong, though government reporting is on pause during the shutdown. The real watch – does this drop keep running, or are we about to hit the floor?

GRAINS: Harvest is rolling along, and markets aren’t budging much. Corn slipped to $4.06 from $4.15 last week, with soy and wheat stuck in the same tight range. With big crops expected, the question is – what’s it going to take to shake these markets out of neutral?

PORK: Bellies keep sliding, down to $151 from last week’s $169 – and that means bacon pricing should ease too. Butts and ribs are inching higher, while loins continue to shine as the best value in pork. The question now – is this just a seasonal dip, or the start of a bigger shift in pork markets?

DAIRY: After six straight weeks of declines, the CME finally turned higher. Barrel is up 6, block up 10, and even butter ended its slide with a 6-point gain. The big question – is this the start of a real rally, or just a short bounce before more pressure ahead?

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