In U.S. wholesale markets over the past week, pork prices kept ramping upward and hamburger ingredient values stayed very strong according to Meat International.
The sudden upswing in pork prices seems little short of amazing as cut-out value is up another 5 cents this week, to 82.4 cents per pound - making a 10 cent rise in two weeks. Pork futures held firm in last week's range of 77.4 to 85 cents per pound, through June delivery.
Pork producers and integrators are suddenly doing very well, with increased optimism about export demand from Asia. However, questions are arising about whether export trade can keep absorbing such rapidly rising prices.
Prices for fed steers and for live cattle futures contracts topped out - while chicken values stayed steady to slightly easier with USDA 12-city index for whole birds is down 0.8 cents to 81.6 cents per pound.
Lean processing beef prices again stayed strong this week, with supply still tightening.
Source: Meat International