June 2024 Market Update

June 21, 2024

Your monthly update on the state of the pork, poultry, beef, and seafood industries, direct from your Y. Hata category specialists.

Please contact your Account Manager for questions.


Despite the ongoing cattle shortage, there remains adequate beef supply to meet consumer demand. Packers continue to face negative margins as raw material costs remain high.

Cattle carcass weights continue to increase and has helped to offset the reduced supply. With cattle being kept on feed longer, grading continues to be predominantly choice, premium, and prime. Availability for lower grades such as select remains limited.

  • Ribeye pricing has increased again with the start of grilling season. However, prices are expected to soften after the Fourth of July before strengthening again as we approach Labor Day.
  • Striploin pricing continues to be exceptionally strong and is at record high levels. After the Fourth of July, these high price levels are expected to face increased pressure from both retail and foodservice operators.
  • Chuck flat pricing will be decreasing this month due to continued pressure on the chuck complex as well as persistent softness in international Asian export markets with devalued currencies.
  • Chuck roll pricing is expected to decline as retailers have shifted their ad features to ground beef products.
  • Sliced beef short rib pricing remains high due to limited availability of raw material.
  • Oxtail prices remain steady and are not expected to decrease until we approach the warmer summer months.

With the limited cattle supply, packers remain challenged to remain profitable yet not price beef items out of the reach of consumers.

Prairie Creek Seasoned Patties


All chicken parts remain in a well sold position due to strong and consistent demand. HPAI bird flu remains an ongoing area of concern for producers but there remains adequate supply to fill current demand. Poultry producers remain vigilant.

  • Bone-In Thighs – Availability for bone-in thighs has declined as retailers continue to secure inventory for their ad features.
  • Boneless Skinless Thighs – Boneless skinless thighs continue to be one of the more sought-after chicken parts with increased prices reflective of this strength in the marketplace.
  • Leg Meat – Chicken leg meat remains in high demand domestically with buyers having to pay higher prices to secure inventory.
  • Breast Meat – Breast meat prices have remained strong with retailers continuing to feature this in their ads.
  • Wings – Wing demand is unseasonably strong with limited availability.]
  • Turkey – Turkey prices are stable for now, but the uptick in HPAI bird flu cases could lead to a reduced supply in the future.

Poultry Outlook – Overall poultry demand and prices remain strong as all chicken parts are in strong forward sold positions.

Chicken Sandwich


Of the major proteins, pork remains the most stable in terms of pricing and supply. Despite increased pork demand as we enter the summer months, there remains a more than adequate inventory of hogs in the supply chain.

  • Butts – Boneless butt prices remain steady for now primarily due to weaker than expected export demand to both Korea and China.
  • Back Ribs – Rib prices remain strong as retailers secure inventory for future ads as people look to gather for backyard BBQs.
  • Bellies – Belly prices remain at elevated levels and continue to support the pork cutout.

Pork Outlook – With elevated beef prices, we should expect increased pork demand & pricing.

Pork Roast


Snow Crab

  • The Canadian Season has ended. 8/up are still short in supply while 5/8 are more readily available.

Cold Water Atlantic Lobster Tails

  • The primary Canadian Spring Season is near completion. Prices have stabilized for all sizes of tails and meat. The next significant season will start up in August and run through early October.

Warm Water Lobster Tails

  • Bahamian season runs from August 1st to Mach 31st. Prices tend to fluctuate towards the end of the season.

Vanamei White Shrimp

  • Indian imports are still strong coming into the US. Prices are still holding steady for all types of shrimp.

Kauai Shrimp

  • Producers of 8/12 Head On/Shell On are still having issues with the shrimp growing to meet this size. No definite ETA on availability.
Seafood - Snow Crab