Under Spring Pressure
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Under Spring Pressure
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Beef is tight. Bellies are climbing. Birds are under watch. The seasonal shift may bring more than warmer weather.
BEEF: Production is down 10% YTD, with last week at just 516K head. The smallest herd in 75 years keeps supply tight as spring demand builds. Strips and ribeyes look ready to lead a March run – and thin meats may feel it first.
POULTRY: Production is up 2%, but hatch rates under 79% raise questions. Wings dip while breasts hold steady. Thirteen new avian flu cases hit 550K birds – just as migration ramps up.
GRAINS: Soy keeps climbing on export deals and biofuel demand. Corn and wheat stay stuck. Three weeks into the rally, and now we see if it has legs.
PORK: Bellies jumped to $146, nearing $150 faster than expected. Bacon will follow, and elevated pricing could stick into summer. The rest of pork remains a value, but for how long?
DAIRY: Barrel up 5. Block up 6. Butter up 7. Dairy is clearly moving higher, and it doesn’t look finished yet.
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