Beef for the Fourth of July
In anticipation of the Fourth of July, estimated beef product for the calendar week catastrophe June 27 was 562.three million pounds, up 5.3% year over year. This was based on estimated weekly slaughter of 680,000 head, a one.5% increment from yr-ago levels. Information technology as well included an estimated Sat slaughter of 82,000 head, which was 39% higher yr over yr.
Derrell Pare, Oklahoma State University Extension livestock marketing specialist, said the large Saturday slaughter was scheduled for final week since the holiday this week is on Saturday.
He said the actual slaughter and beef product data for the calendar week ending June 13, confirmed that beef production exceeded year-ago production levels by 0.7%, the kickoff yr-over-twelvemonth weekly beefiness production increment since the first week of April.
"After the disappointing shortages and loftier beef prices during Memorial Day, the improved beef situation for this grilling vacation is a great relief," Skin noted. "Grocery stores should exist well stocked in time for July 4 and retail prices are adjusting downwards rapidly."
For private stores, he said supply may depend on their particular supply arrangements.
Meanwhile, retail price adjustments are following rapid decreases in wholesale beef prices, Skin relayed.
"Choice boxed beefiness prices increased from a pre-COVID-199 level of $208.xiv/cwt. on March thirteen to a daily height of $475.39/cwt. on April 12 and back to $207.17/cwt. last Friday, June 26."
Other meat is plentiful, also, according to Peel.
USDA said this week that consumers should be able to detect only near any cut of pork they want for grilling but added that information technology may come with a higher purchase price, fifty-fifty for pre-holiday specials.
USDA livestock analyst Shayle Shagam said pork production during the commencement two weeks of June was 2% higher than final year, but retailers had to make purchases for this weekend'southward holiday in May, when prices were college.
Astounding retail meat sales
Retail meat sales during the calendar week leading up to Male parent'due south Mean solar day were "phenomenal," according to Anne-Marie Roerink, president of 210 Analytics LLC.
"The weeks leading up to the 2020 Father's Day week were plagued with supply chain tightness and purchasing limits. However, the week of Father's Day, the meat department had much improved its in-stock position, the widest assortment seen in weeks and buy limitations were more than the exception than the rule," she noted.
Despite supply improvements, Roerink said prices remained highly elevated and that was the large unknown relative to the success of Male parent'due south Day 2020. The second unknown, she said, was consumer date with foodservice, with restaurants in most parts of the land reopened at to the lowest degree for outdoor dining, and with social distancing measures in place.
Even with those two factors, Father'due south Twenty-four hours meat sales were much higher than the year prior, with a 31.9% sales gains for the week of June 21. This, Roerink said, marked the 15th calendar week of double-digit gains since the onset of the pandemic.
"Much like Mother's Day and Memorial Day, this shows a disproportionate bump for retail meat sales for the spring and summer holidays thus far."
Volume demand also saw a robust rebound, jumping xiii.5% ahead of the same week terminal year, information showed. Roerink said this was the highest book gain since the second week of May. Despite this increase, the gap between dollar gains and volume growth set a new tape, at 18.iv pct points.
"In part, Father'due south 24-hour interval spending may have driven the purchase of higher stop items, as evidenced by the high dollar share of beef. But to a higher place all, prices remained highly elevated from the twelvemonth prior."
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This commodity originally appeared on Feedstuffs, a Supermarket News sister website.
Source: https://www.supermarketnews.com/meat/meat-sales-looking-strong-fourth-july
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