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Migration, Tariffs, and End of Winter Markets
Manage episode 468965877 series 3011013
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Beef processors continue to keep production numbers down. Strip loins are moving higher while the other middle meats move lower. We've most likely seen the bottom on ribeyes and tenderloins. This pattern should hold steady in the next few weeks, waiting for warmer weather to help boost demand.
Chicken production continues running about 3% over last year. Wings are down for next week while breasts and tenders move higher. On the Avian Flu beat, 14 new reports since last week affecting 3.4 million birds. With Spring migration coming soon, the virus could be carried back up North along the East Coast which could make things worse.
In grains, the proposed tariffs could increase Canola oil from Canada's prices. Shifting from Canola to soy will push soy up as well. We'll keep an eye on what happens or doesn't happen.
Pork bellies turned around from last week's big drop, closing at $179. No need to buy unless you just need product. Other than bacon, pork is a good move.
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