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We're Looking At An Expensive Start to 2023
Manage episode 351155489 series 3011013
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So arctic temperatures and bad weather across the country took my expectations and just stomped on them. Holiday shortened beef production was 566K head down from the previous full week of 629K head. We have another week of two weeks of shortened work weeks which will be making product tight over the next couple weeks. Already those anticipated drops in Tenderloins and ribeyes are not happening. I’m going to push them out a couple weeks in expectation. I still think we have some down side here, just not as soon as I anticipated. On the other side, loins, rounds, chucks and especially grinds are moving up daily. With lower cattle numbers to process the pressure to make money on every head increases. Product is going to be tight and I think too expensive for January. I’d buy just what I need and wait for opportunities to break.
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