Veal Price Forecast
July 2014
VEAL PRICE FORECAST
JULY 2014
Lighter demand for veal is attributed to a myriad of factors, but
the problem of particular focus is limited buying interest among
younger consumers. Suggested causes for this often range from
public perception of the treatment of the animals to lack of retail
availability. Additionally, relative cost and low awareness of veal
cooking techniques may be other factors preventing generation Y
from purchasing veal at the grocery store. Remedying the problem
of decreased demand in this category will require addressing these
aforementioned issues.
In conclusion, the seasonality of demand for veal is bittersweet.
Seasonal increases in demand help the industry, but the overall
decline in demand may continue to be problematic. In thinking of
veal as an ongoing concern, it is difficult to call the current trends
positive in spite of seasonal price and volume upticks.
295
230
165
100
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Demand for veal peaked in May of 2012, but subsequently declined
by 23% through to April 2014. Demand is expected to improve due
to seasonal factors throughout the second half of 2014, but it will
likely remain below year-ago levels. The expectation is for this year
to be more seasonal, with significant improvements seen around
the holiday buying seasons. The fourth-quarter rallies may not be
as strong as five-year or ten-year seasonal factors might suggest, but
it is expected that there will be significant price advances this year
over 2012 and 2013 due to tighter supplies.
360
Pounds in Millions
So far this year, veal prices have trended higher in both the carcass
category as well as most boxed cuts. In fact, with few exceptions,
veal prices in all categories are at their highest levels since Urner
Barry began collecting quotations in 1993. Strength has largely
been attributed to tighter supplies, which in general means that
demand does not have to surpass year-ago levels in order to motivate
higher prices. Additionally, the higher prices of most proteins this
year have provided support for the veal complex as the price gap
between veal and other categories has narrowed.
USDA Federally Inspected Production,
Veal (yearly)
Source: USDA, Urner Barry
Veal production for 2013 was about 109 million pounds which
was down roughly 5% compared to 2012. Jan-to-Jun production
numbers for 2014 are nearly 10% lower than the equivalent time
period last year. This downtrend has been going on for over 15 years.
Yearly production levels have declined 6.5% on average since 1997.
USDA Federally Inspected Slaughter,
Calves(Weekly)
20.00
18.00
Head in Thousands
Concerns about Consumption
16.00
14.00
12.00
10.00
TABLE OF CONTENTS
Commentary...................1
Economic Indicators.....4-5
Market Indexes...............2
Veal Cuts....................6-15
Feed................................3
The information, commentary and price quotations contained herein are intended solely
for the confidential and exclusive use of our subscribers. All subscribers expressly agree
that they will not sell, communicate or give any of said information, commentary or price
quotations to any other person, firm or corporation, including any governmental agent
or agencies whatsoever and any news distributing or communications company or service. The quotations given herein represent to the best of the reporters’ knowledge
prevailing wholesale values in the specified grades of each commodity, sales in stores
or warehouse from receivers and wholesale distributors, or by willingness and ability to
buy. The use of quotations for contractual or other purposes is beyond the publishers’
control and they will in no case assume any responsibility for such use. They represent in
the judgment of the publishers an accurate picture of current business, but they are not
“official” in any sense of the word. The publishers disclaim and do not assume responsibility for any damages, alleged or otherwise, that may result or claim to have resulted
from any use made by any person or any reliance made by any person upon any of the
statements of quotations appearing at any time herein.
J
F
M
A
M
J
J
2014
2013
Source: USDA, Urner Barry
A
S
2012
O
N
D
2011
Jan-to-Jun calf slaughter for 2014 is estimated at 302,000 head,
which is down approximately 16% compared to the equivalent time
period for 2013. Third quarter slaughter is forecasted to decline
by 16 percent compared to year-ago calf slaughter, and current
estimates have fourth quarter calf slaughter down 15 percent.
Market Insight for the Meat and Poultry Industry©
732-240-2349 | P.O. Box 312, Bayville, NJ 08721
Market Data, Analysis and Forecasts by:
Published by:
While the data contained in this report is gathered from reliable sources, accuracy and
completeness cannot be guaranteed. The publisher does not give investment advice or
act as an investment advisor. All data, information, and opinions are subject to change
without notice. This publication is protected by U.S. copyright laws. Do not copy or
redistribute this information.
Market Insight for the Meat and Poultry Industry | Released JULY 2014 | PAGE 2
Beef Index
Pork Cutout
2.44
1.30
2.15
1.14
1.86
0.98
1.57
0.82
1.28
Jan-10
Jan-11
Jan-12
Jan-13
Jan-14
The Urner Barry beef index has surged to new highs in 2014. It has
pierced the previous ceiling of $200.00/cwt, to the tune of close to
20 percent. The lowest level of cattle supplies in sixty plus years on
January 1 is the largest contributing factor. Higher input costs have
forced packers to raise prices.
0.66
Jan-10
Jan-11
Jan-12
Jan-13
Jan-14
2014 has been a year of record prices in the pork market. The effect
of the widespread Porcine Epidemic Diarrhea Virus, or PEDV,
which is estimated to have killed up to 7 million piglets since May
of 2013, has restricted the amount of available hogs for slaughter.
Even though slaughter is anticipated to remain several percentage
points below that of last year through the fall, pork production has
so far remained on par with last year due to heavier hog weights.
Higher year over year pork prices are anticipated across most cuts
for the remainder of 2014.
Chicken Index
Turkey Index
0.93
1.50
1.34
0.84
1.18
0.75
1.02
0.66
0.86
0.57
Jan-10
Jan-11
Jan-12
Jan-13
Jan-14
Urner Barry’s chicken index has rebounded since its six month
decline finishing 2013. It was last year when the wing and breast
meat markets drove UB’s index to an all-time high of $.92/lb., but
overproduction and diminished demand eventually forced values
downward. Since that time, the supply and demand scenario
has been restored to a much closer, if not tight, balance. The
combination of severe winter weather, an aging breeder flock and
underperforming birds has restrained production. Demand has
been “seasonal” at worst and at times quite aggressive. Assuming
that high prices will continue in the competitive meat arena, the
outlook for the chicken market remains strong.
0.70
Jan-10
Jan-11
Jan-12
Jan-13
Jan-14
Record or near record setting values have been the differentiating
characteristic of the turkey market this year. The effects of double
digit cutbacks in slaughter, excellent consumer demand in the U.S.
and a broadening reach into the export arena have turned the tables
on traditional market expectations. Additionally, requirements for
grinding materials are at higher levels than ever and have helped
to generate the strongest index on record. Even though slaughter
is anticipated to advance several percentage points starting in late
summer, turkey production has so far remained well below the
last two years. The lack of attractively priced protein alternatives,
coupled with traditional increases in white meat demand during
the summer months, suggest that higher year on year market values
will remain in place across much of the turkey complex for the
balance of 2014.
Market Insight for the Meat and Poultry Industry © | A publication of Obsono, LLC | 732-240-2349 | P.O. Box 312, Bayville, NJ 08721
While the data contained in this report is gathered from reliable sources, accuracy and completeness cannot be guaranteed. The publisher does not give investment advice or act as an
investment advisor. All data, information, & opinions are subject to change without notice. This publication is protected by U.S. copyright laws. Do not copy or redistribute this information.
Market Insight for the Meat and Poultry Industry | Released JULY 2014 | PAGE 3
WHEY (Animal Feed Milk Replacer, Central)
0.60
Dollars Per Pound
0.50
0.40
0.30
0.20
0.10
Source: USDA
Whey, used as an animal feed milk replacer, has been increasing in value fairly consistently over the course of the past several years. This
trend resembles, though technically exceeds, the upward movement seen in liquid milk values.
Prices Received For Hay
CBOT Corn Continuous Front Month Futures
900
224
800
Cents Per Bushel
193
Cents Per Bushel
700
600
162
500
131
400
300
Jan-10
Jan-11
Jan-12
Jan-13
Jan-14
Source: Chicago Board Of Trade
Corn prices for animal owners have been favorable after falling
nearly 48 percent from peak levels in 2012. Optimal growing
weather has improved prospects for this year’s plantings. The
government projects record level production which should keep a
ceiling on prices.
100
Jan-10
Jan-11
Jan-12
Jan-13
Jan-14
Source: USDA
The longer term trend of higher hay prices looks like it is going
to continue. Tighter production and supplies are anticipated for
the foreseeable future. Both supply and demand fundamentals
should be supportive of elevated prices. Tighter hay production and
supplies are further limited by drought conditions across the U.S.
while global demand is expected to remain strong.
Market Insight for the Meat and Poultry Industry © | A publication of Obsono, LLC | 732-240-2349 | P.O. Box 312, Bayville, NJ 08721
While the data contained in this report is gathered from reliable sources, accuracy and completeness cannot be guaranteed. The publisher does not give investment advice or act as an
investment advisor. All data, information, & opinions are subject to change without notice. This publication is protected by U.S. copyright laws. Do not copy or redistribute this information.
Market Insight for the Meat and Poultry Industry | Released JULY 2014 | PAGE 4
Per Capita Veal and Lamb Consumption
110
2
95
1.6
80
1.2
Pounds
Pounds
Per Capita Red Meat and Poultry Consumption
65
0.8
50
0.4
35
0
Source: Urner Barry, USDA
BEEF
PORK
TOTAL POULTRY
This chart measures the amount of red meat and poultry consumption
by each individual in the United States. It is calculated by dividing
the total number of pounds of meat consumed in the US by the total
population. Beef consumption peaked in the late 1970s and has
steadily declined. At about the same time, consumption of poultry
has risen dramatically. This can be used to help determine demand
for each area, but is not the sole measure of demand. Increased
population and wealth tend to lead to increased consumption.
The rapid rise in population, however, is outweighing production
increases, especially on the beef side.
Source: Urner Barry, USDA
Veal
Lamb
Despite the fact that slightly over half of all meat consumed are red
meat products- beef, pork, veal, lamb, and mutton; veal and lamb
consumption in the U.S. is small relative to other red meat items.
Consumption for veal and lamb has been on the decline with veal
falling at a greater pace.
The U.S. is a net exporter of beef right now. Exports have increased annually and should drive growth in the foreseeable future. Japan,
Mexico, China/Hong Kong, and Canada are the primary markets. The U.S. also imports beef, mainly muscle cuts from Canada and
manufacturing beef from Australia, New Zealand and Central & South America.
Market Insight for the Meat and Poultry Industry © | A publication of Obsono, LLC | 732-240-2349 | P.O. Box 312, Bayville, NJ 08721
While the data contained in this report is gathered from reliable sources, accuracy and completeness cannot be guaranteed. The publisher does not give investment advice or act as an
investment advisor. All data, information, & opinions are subject to change without notice. This publication is protected by U.S. copyright laws. Do not copy or redistribute this information.
Market Insight for the Meat and Poultry Industry | Released JULY 2014 | PAGE 5
DPI & PCE Monthly Percent Change
1.00
CPI-U 12 Month Change
Disposable Personal Income
7.00
Personal Consumption Expenditures
0.52
Percentage
Percentage
Meat, Poultry, Fish, and Eggs
Food at Home
Food Away from Home
5.60
0.76
0.28
0.04
-0.20
All Items
Dec-13
Jan-14
Feb-14
Mar-14
4.20
2.80
1.40
0.00
Apr-14
Source: Urner Barry, BLS
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
Source: Urner Barry, BLS
Disposable personal income has slowly grown each month. But as
the CPI-U12 Month Change chart shows, higher prices on food and
energy have increased personal consumption expenditures faster.
We continue to see year-over-year gains in consumer prices. Two
measures that could be telling to the veal industry are the Meat,
Poultry, Fish and Eggs and the Food Away From Home categories.
The former continues to see the largest increases over last year,
with food inflation running high. Food Away From Home is also
important, as much of the consumption for veal is in restaurants.
With the economy still recovering, restaurants were reluctant to
pass sharply higher costs to consumers but some are now altering
portion/packaging sizes or offering alternate items in an effort to
ease price increases.
450,000
101.8
444,000
101.4
438,000
101.0
432,000
100.6
426,000
100.2
RPI
Dollars
Retail and Foodservice Sales, Monthly Seasonally Adjusted and Restaurant
Performance Index
420,000
Retail and Foodservice Sales
Dec-13
Jan-14
Restaurant Performance Index (RPI)
Feb-14
Mar-14
Apr-14
99.8
Source: Urner Barry, Board of Governors of the Federal Reserve System, National
Restaurant Association
Restaurant health and outlook sentiment continues to be positive, as measured by the Restaurant Performance Index, where a greater than
100 reading indicates expansion. This has been fueled by increased traffic and same-store sales. This is an important consumer gauge of
the economy.
Market Insight for the Meat and Poultry Industry © | A publication of Obsono, LLC | 732-240-2349 | P.O. Box 312, Bayville, NJ 08721
While the data contained in this report is gathered from reliable sources, accuracy and completeness cannot be guaranteed. The publisher does not give investment advice or act as an
investment advisor. All data, information, & opinions are subject to change without notice. This publication is protected by U.S. copyright laws. Do not copy or redistribute this information.
Market Insight for the Meat and Poultry Industry | Released JULY 2014 | PAGE 6
Veal: Carcass Veal, Hide-off, 255/315, North East-(LTL)
Carcasses are expected to be steady to slightly firmer. Slaughter declines remain noticeable when compared to last year. In fact, every week
so far this year has been down between 5 and 25 percent compared to the equivalent week for 2013. The first three weeks of June showed
the average slaughter was down 20 to 25 percent compared to a year ago. The third and fourth quarter calf slaughter is expected to be 15
to 16 percent lower than 2013.
MARKET PRICES AND PROJECTIONS
$3.94
$3.58
$3.22
$2.86
'09-'13
$2.50
Jan
Feb
Mar
Apr
May
Jun
13
Jul
14P
Aug
14
Sep
Oct
15P
Nov
Dec
PROJECTED
Explanation of Ratios
YS Carcass Veal, Hide-off, 255/315, North East-(LTL)
2015
2014
2013
2012
2011
2010 5-Yr Avg
Jan
3.68
3.57
3.55
3.36
2.72
2.18
2.87
Feb
3.71
3.56
3.53
3.45
2.73
2.20
2.88
Mar
3.75
3.60
3.50
3.56
2.74
2.34
2.91
Apr
3.79
3.60
3.50
3.65
2.75
2.30
2.91
May
3.81
3.64
3.50
3.68
2.79
2.35
2.90
Jun
3.83
3.69
3.50
3.70
2.84
2.37
2.91
3.69
3.50
3.68
2.90
2.40
2.93
Jul
Aug
3.69
3.50
3.64
2.95
2.43
2.93
Sep
3.74
3.58
3.63
3.04
2.47
2.96
Oct
3.79
3.60
3.63
3.20
2.55
3.02
Nov
3.76
3.60
3.54
3.24
2.61
3.02
Dec
3.77
3.60
3.54
3.28
2.63
3.04
Avg
3.76
3.61
3.54
3.59
2.93
2.40
2.94
High
3.83
3.69
3.60
3.70
3.28
2.63
3.04
Low
3.68
3.56
3.50
3.36
2.72
2.18
2.87
MONTHLY 5-YR SEASONAL FACTOR
On the succeeding pages we’ll provide a table of ratios intended to
show the relationship of the market value of a particular veal cut
compared to the market value of the veal carcass. This tool can be
used as a measure of performance for a particular veal item.
This following example will explain how the ratios are calculated
and hopefully help you to understand their purpose:
The value of a cut on April 1, 2013 was $1000/cwt. One year later
(April 1, 2014), the price was again $1000/cwt. At first glance one
might believe that this cut showed consistent performance from
year-to-year.
However, when taking into account the entire carcass, things are
viewed differently. Let’s say that the value of the carcass on April
1, 2013 was $325/cwt (the ratio would be 1000/325 or 3.08) and
the carcass price on April 1, 2014 was $380/cwt (the ratio would
be 1000/380 or 2.63). Under this scenario, the price of the cut has
not kept pace with the entire carcass, which is shown by the lower
ratio on April 1, 2014. A cut to carcass ratio can be helpful when
comparing it to historical ratios.
MONTHLY VEAL CARCASS PRICES
110%
$3.94
105%
$3.58
100%
$3.22
95%
$2.86
90%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
$2.50
'09-'13
14
Jan Feb Mar Apr May Jun
13
15P
14P
Jul Aug Sep Oct Nov Dec
Market Insight for the Meat and Poultry Industry © | A publication of Obsono, LLC | 732-240-2349 | P.O. Box 312, Bayville, NJ 08721
While the data contained in this report is gathered from reliable sources, accuracy and completeness cannot be guaranteed. The publisher does not give investment advice or act as an
investment advisor. All data, information, & opinions are subject to change without notice. This publication is protected by U.S. copyright laws. Do not copy or redistribute this information.
Market Insight for the Meat and Poultry Industry | Released JULY 2014 | PAGE 7
Veal: 306 Hotel Rack, 7-Rib 14/20-(LTL)
As demand continues to build, hotel racks should level off a little before moving higher going into the fourth quarter. Prices have pushed
to new historical highs above $9.00/lb. A steady upward trend is expected for the rest of 2014.
MARKET PRICES AND PROJECTIONS
$9.65
$8.55
$7.45
$6.35
'09-'13
$5.25
Jan
Feb
Mar
Apr
May
Jun
PROJECTED
13
Jul
Aug
14
Sep
Oct
15P
Nov
Dec
PROJECTED
MARKET PRICE: YS Boxed Veal Cuts, 306 Hotel Rack, 7-Rib 14/20-(LTL)
2015
14P
2014
2013
2012
2011
2010 5-Yr Avg
VEAL RATIO: UB Carcass Veal vs UB 306 Hotel Rack
2015
2014
2013
2012
2011
2010 5-Yr Avg
Jan
8.76
8.50
8.23
6.60
5.13
3.93
5.83
Jan
2.38
2.38
2.32
1.96
1.88
1.80
2.01
Feb
9.22
8.60
8.27
7.50
5.13
4.18
6.04
Feb
2.49
2.42
2.34
2.17
1.88
1.90
2.07
Mar
9.34
8.70
8.30
7.57
5.33
4.37
6.12
Mar
2.49
2.42
2.37
2.13
1.94
1.87
2.08
Apr
9.44
8.70
8.30
7.71
5.42
4.41
6.13
Apr
2.49
2.42
2.37
2.11
1.97
1.91
2.08
May
9.46
8.82
8.30
7.73
5.45
4.60
6.10
May
2.48
2.42
2.37
2.10
1.96
1.96
2.08
Jun
9.46
2.47
2.45
2.37
2.09
1.92
1.91
2.05
2.45
2.37
2.10
1.92
1.92
2.05
9.05
8.30
7.73
5.45
4.53
6.04
Jun
Jul
9.04
8.30
7.73
5.56
4.60
6.07
Jul
Aug
9.14
8.30
7.77
5.80
4.60
6.11
Aug
2.45
2.37
2.13
1.96
1.90
2.06
Sep
9.21
8.32
7.82
5.93
4.77
6.18
Sep
2.46
2.33
2.16
1.95
1.93
2.06
Oct
9.39
8.46
7.91
6.15
4.98
6.33
Oct
2.48
2.35
2.18
1.93
1.95
2.07
Nov
9.60
8.50
8.01
6.63
5.09
6.47
Nov
2.55
2.36
2.26
2.05
1.95
2.11
Dec
9.70
8.50
8.22
6.63
5.08
6.45
Dec
2.57
2.36
2.32
2.02
1.93
2.09
Avg
9.28
8.73
8.34
7.69
5.72
4.60
6.16
Avg
2.47
2.42
2.36
2.14
1.95
1.91
2.07
High
9.46
9.05
8.50
8.22
6.63
5.09
6.47
High
2.49
2.45
2.37
2.32
2.05
1.96
2.11
Low
8.76
8.50
8.23
6.60
5.13
3.93
5.83
Low
2.38
2.38
2.32
1.96
1.88
1.80
2.01
MONTHLY 5-YR SEASONAL FACTOR
MONTHLY VEAL CARCASS PRICES
110%
$3.94
105%
$3.58
100%
$3.22
95%
$2.86
90%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
$2.50
'09-'13
14
Jan Feb Mar Apr May Jun
13
15P
14P
Jul Aug Sep Oct Nov Dec
Market Insight for the Meat and Poultry Industry © | A publication of Obsono, LLC | 732-240-2349 | P.O. Box 312, Bayville, NJ 08721
While the data contained in this report is gathered from reliable sources, accuracy and completeness cannot be guaranteed. The publisher does not give investment advice or act as an
investment advisor. All data, information, & opinions are subject to change without notice. This publication is protected by U.S. copyright laws. Do not copy or redistribute this information.
Market Insight for the Meat and Poultry Industry | Released JULY 2014 | PAGE 8
Veal: 309 Chuck, Square Cut 36/47-(LTL)
As spring demand winds down, look for prices to drift lower through summer. The trend should be higher for the fourth quarter of the year.
Chucks will likely be one of the more stable items in the market.
MARKET PRICES AND PROJECTIONS
$3.33
$3.01
$2.69
$2.37
$2.05
'09-'13
Jan
Feb
Mar
Apr
May
13
Jun
PROJECTED
14P
Jul
14
Aug
Sep
15P
Oct
Nov
Dec
PROJECTED
MARKET PRICE: YS Boxed Veal Cuts, 309 Chuck, Square Cut 36/47-(LTL)
2015
2014
2013
2012
2011
2010 5-Yr Avg
Jan
3.04
2.96
2.90
2.57
1.90
1.65
2.11
Feb
3.16
2.99
2.90
2.80
1.94
1.65
2.17
Mar
3.21
2.98
2.90
2.82
2.08
1.81
2.23
VEAL RATIO: UB Carcass vs 309 Chuck, Square Cut
2015
2014
2013
2012
2011
2010 5-Yr Avg
Jan
0.83
0.83
0.82
0.77
0.70
0.76
0.73
Feb
0.85
0.84
0.82
0.81
0.71
0.75
0.74
Mar
0.86
0.83
0.83
0.79
0.76
0.77
0.76
0.83
0.78
0.80
0.78
0.77
Apr
3.26
2.98
2.90
2.85
2.19
1.80
2.25
Apr
0.86
0.83
May
3.27
3.02
2.90
2.85
2.25
1.77
2.23
May
0.86
0.83
0.83
0.78
0.81
0.75
0.76
Jun
3.21
0.84
3.07
2.95
2.68
2.25
1.75
2.21
Jun
0.83
0.84
0.72
0.79
0.74
0.75
Jul
3.02
3.00
2.53
2.28
1.75
2.20
Jul
0.82
0.86
0.69
0.79
0.73
0.74
Aug
3.03
3.00
2.53
2.33
1.75
2.21
Aug
0.82
0.86
0.69
0.79
0.72
0.75
Sep
3.09
3.02
2.55
2.47
1.83
2.27
Sep
0.83
0.84
0.70
0.81
0.74
0.76
Oct
3.14
2.90
2.75
2.50
1.88
2.31
Oct
0.83
0.81
0.76
0.78
0.73
0.76
Nov
3.15
2.88
2.80
2.50
1.88
2.32
Nov
0.84
0.80
0.79
0.77
0.72
0.76
Dec
3.20
2.88
2.90
2.50
1.88
2.35
Dec
0.85
0.80
0.82
0.76
0.72
0.77
Avg
3.19
3.00
2.93
2.72
2.27
1.78
2.24
Avg
0.85
0.83
0.83
0.76
0.77
0.74
0.75
High
3.27
3.07
3.02
2.90
2.50
1.88
2.35
High
0.86
0.84
0.86
0.82
0.81
0.78
0.77
Low
3.04
2.96
2.88
2.53
1.90
1.65
2.11
Low
0.83
0.83
0.80
0.69
0.70
0.72
0.73
MONTHLY 5-YR SEASONAL FACTOR
MONTHLY VEAL CARCASS PRICES
107%
$3.94
102%
$3.58
97%
$3.22
92%
$2.86
87%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
$2.50
'09-'13
14
Jan Feb Mar Apr May Jun
13
15P
14P
Jul Aug Sep Oct Nov Dec
Market Insight for the Meat and Poultry Industry © | A publication of Obsono, LLC | 732-240-2349 | P.O. Box 312, Bayville, NJ 08721
While the data contained in this report is gathered from reliable sources, accuracy and completeness cannot be guaranteed. The publisher does not give investment advice or act as an
investment advisor. All data, information, & opinions are subject to change without notice. This publication is protected by U.S. copyright laws. Do not copy or redistribute this information.
Market Insight for the Meat and Poultry Industry | Released JULY 2014 | PAGE 9
Veal: 310 Shoulder Clod 14/20-(LTL)
The low in the shoulder clod market likely happened back in April at the $5.75/lb. This year’s average price will likely continue the trend of
being at a premium to previous year’s high. Strength can be attributed to reduced supplies.
MARKET PRICES AND PROJECTIONS
$6.40
$5.80
$5.20
$4.60
'09-'13
$4.00
Jan
Feb
Mar
Apr
May
13
Jun
PROJECTED
14P
Jul
14
Aug
Sep
15P
Oct
Nov
Dec
PROJECTED
MARKET PRICE: YS Boxed Veal Cuts, 310 Shoulder Clod 14/20-(LTL)
VEAL RATIO: UB Carcass vs UB 310 Shoulder Clod
2015
2014
2013
2012
2011
2010 5-Yr Avg
2015
2014
2013
2012
2011
2010 5-Yr Avg
Jan
6.12
5.90
5.73
5.43
4.28
3.85
4.60
Jan
1.66
1.65
1.61
1.61
1.57
1.77
1.61
Feb
6.16
5.90
5.73
5.43
4.39
3.85
4.63
Feb
1.66
1.66
1.62
1.57
1.61
1.75
1.61
Mar
6.25
5.76
5.73
5.58
4.50
3.86
4.67
Mar
1.67
1.60
1.64
1.57
1.64
1.65
1.60
Apr
6.30
5.75
5.73
5.63
4.59
3.87
4.69
Apr
1.66
1.60
1.64
1.54
1.67
1.68
1.61
May
6.30
5.84
5.73
5.63
4.60
4.07
4.69
May
1.65
1.60
1.64
1.53
1.65
1.73
1.62
Jun
6.30
5.94
5.73
5.63
4.60
3.99
4.67
Jun
1.64
1.61
1.64
1.52
1.62
1.68
1.61
Jul
6.04
5.73
5.63
4.74
3.95
4.70
Jul
1.64
1.64
1.53
1.64
1.65
1.61
Aug
6.06
5.73
5.63
4.82
3.91
4.69
Aug
1.64
1.64
1.54
1.63
1.61
1.60
Sep
6.08
5.74
5.63
4.87
4.01
4.77
Sep
1.63
1.61
1.55
1.60
1.62
1.62
Oct
6.20
5.83
5.63
5.21
4.08
4.91
Oct
1.64
1.62
1.55
1.63
1.60
1.64
Nov
6.29
5.90
5.65
5.43
4.08
4.98
Nov
1.67
1.64
1.60
1.68
1.56
1.66
6.33
5.90
5.73
5.43
4.13
5.01
Dec
1.68
1.64
1.62
1.65
1.57
1.66
Avg
Dec
6.24
5.85
5.76
5.60
4.79
3.97
4.75
Avg
1.66
1.62
1.63
1.56
1.63
1.66
1.62
High
6.30
5.94
5.90
5.73
5.43
4.13
5.01
High
1.67
1.66
1.64
1.62
1.68
1.77
1.66
Low
6.12
5.75
5.73
5.43
4.28
3.85
4.60
Low
1.64
1.60
1.61
1.52
1.57
1.56
1.60
MONTHLY 5-YR SEASONAL FACTOR
107%
MONTHLY VEAL CARCASS PRICES
$3.94
104%
$3.58
100%
$3.22
97%
$2.86
93%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
$2.50
'09-'13
14
Jan Feb Mar Apr May Jun
13
15P
14P
Jul Aug Sep Oct Nov Dec
Market Insight for the Meat and Poultry Industry © | A publication of Obsono, LLC | 732-240-2349 | P.O. Box 312, Bayville, NJ 08721
While the data contained in this report is gathered from reliable sources, accuracy and completeness cannot be guaranteed. The publisher does not give investment advice or act as an
investment advisor. All data, information, & opinions are subject to change without notice. This publication is protected by U.S. copyright laws. Do not copy or redistribute this information.
Market Insight for the Meat and Poultry Industry | Released JULY 2014 | PAGE 10
Veal: 332 Loin, 4x4 Trimmed 12/18-(LTL)
Prices have likely already seen lows for the year and are expected to be steady to slightly higher for the rest of 2014. Supplies will be slightly
tighter than last summer's levels, providing price support and probably keeping prices above year-ago levels.
MARKET PRICES AND PROJECTIONS
$6.40
$6.05
$5.70
$5.35
'09-'13
$5.00
Jan
Feb
Mar
Apr
May
Jun
PROJECTED
13
Jul
14P
Aug
Sep
14
Oct
15P
Nov
Dec
PROJECTED
MARKET PRICE: YS Boxed Veal Cuts, 332 Loin, 4x4 Trimmed 12/18-(LTL)
VEAL RATIO: UB Carcass vs UB 332 Loin, 4x4 Trimmed 12/18
2015
2014
2013
2012
2011
2010 5-Yr Avg
2015
2014
2013
2012
2011
2010 5-Yr Avg
Jan
6.35
6.13
6.20
5.75
5.20
4.30
5.27
Jan
1.73
1.72
1.75
1.71
1.91
1.97
1.86
Feb
6.29
6.13
6.12
5.75
5.11
4.41
5.23
Feb
1.70
1.72
1.73
1.67
1.87
2.01
1.84
Mar
6.24
5.86
5.84
5.75
5.40
4.41
5.21
Mar
1.66
1.63
1.67
1.61
1.97
1.89
1.81
Apr
6.22
5.85
5.75
5.79
5.40
4.51
5.21
Apr
1.64
1.63
1.64
1.59
1.96
1.96
1.82
May
6.32
5.95
5.97
5.80
5.41
4.92
5.30
May
1.66
1.64
1.70
1.58
1.94
2.10
1.86
Jun
6.45
1.68
6.24
6.18
5.93
5.33
5.00
5.35
Jun
1.69
1.77
1.61
1.88
2.11
1.87
Jul
6.17
6.20
6.10
5.14
5.08
5.34
Jul
1.67
1.77
1.65
1.77
2.12
1.85
Aug
6.23
6.20
6.19
5.22
5.10
5.38
Aug
1.69
1.77
1.70
1.77
2.10
1.87
Sep
6.26
6.09
6.29
5.38
5.08
5.40
Sep
1.67
1.70
1.73
1.77
2.05
1.85
Oct
6.30
6.08
6.30
5.55
5.08
5.44
Oct
1.66
1.69
1.74
1.74
1.99
1.83
Nov
6.26
6.13
6.14
5.58
5.17
5.44
Nov
1.66
1.70
1.73
1.72
1.98
1.82
Dec
6.30
6.13
6.15
5.75
5.23
5.49
Dec
1.67
1.70
1.74
1.75
1.99
1.83
6.31
6.03
6.07
5.99
5.37
4.86
5.34
Avg
1.68
1.67
1.72
1.67
1.84
2.02
1.84
High
6.45
6.24
6.20
6.30
5.75
5.23
5.49
High
1.73
1.72
1.77
1.74
1.97
2.12
1.87
Low
6.22
5.85
5.75
5.75
5.11
4.30
5.21
Low
1.64
1.63
1.64
1.58
1.72
1.89
1.81
Avg
MONTHLY 5-YR SEASONAL FACTOR
MONTHLY VEAL CARCASS PRICES
108%
$3.94
104%
$3.58
100%
$3.22
96%
$2.86
92%
$2.50
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
'09-'13
14
Jan Feb Mar Apr May Jun
13
15P
14P
Jul Aug Sep Oct Nov Dec
Market Insight for the Meat and Poultry Industry © | A publication of Obsono, LLC | 732-240-2349 | P.O. Box 312, Bayville, NJ 08721
While the data contained in this report is gathered from reliable sources, accuracy and completeness cannot be guaranteed. The publisher does not give investment advice or act as an
investment advisor. All data, information, & opinions are subject to change without notice. This publication is protected by U.S. copyright laws. Do not copy or redistribute this information.
Market Insight for the Meat and Poultry Industry | Released JULY 2014 | PAGE 11
Veal: 334 Leg, Single 35/45-(LTL)
Leg values are expected to be about steady through the end of the summer before trending higher. Supplies in some areas are expected to be
more readily available in the short term.
MARKET PRICES AND PROJECTIONS
$6.75
$6.30
$5.85
$5.40
$4.95
'09-'13
$4.50
Jan
Feb
Mar
Apr
May
Jun
PROJECTED
13
Jul
Aug
Sep
14
Oct
15P
Nov
Dec
PROJECTED
MARKET PRICE: YS Boxed Veal Cuts, 334 Leg, Single 35/45-(LTL)
2015
14P
2014
2013
2012
2011
2010 5-Yr Avg
VEAL RATIO: UB Carcass vs UB 334 Leg, Single 35/45
2015
2014
2013
2012
2011
2010 5-Yr Avg
Jan
6.35
6.13
6.15
5.38
4.23
3.85
4.76
Jan
1.73
1.72
1.73
1.60
1.55
1.77
1.66
Feb
6.35
6.13
6.15
5.38
4.23
3.86
4.77
Feb
1.71
1.72
1.74
1.56
1.55
1.75
1.66
Mar
6.47
6.13
6.15
5.44
4.53
4.01
4.87
Mar
1.73
1.70
1.76
1.53
1.65
1.71
1.68
Apr
6.58
6.13
6.15
5.53
4.80
3.96
4.92
Apr
1.74
1.70
1.76
1.51
1.75
1.72
1.70
May
6.65
6.18
6.15
5.65
4.83
4.07
4.95
May
1.75
1.70
1.76
1.54
1.73
1.73
1.72
Jun
6.65
1.74
6.37
6.15
5.65
4.83
4.10
4.94
Jun
1.73
1.76
1.53
1.70
1.73
1.71
Jul
6.33
6.15
5.64
4.83
4.10
4.91
Jul
1.72
1.76
1.53
1.67
1.71
1.69
Aug
6.32
6.15
5.60
4.86
4.10
4.91
Aug
1.71
1.76
1.54
1.65
1.69
1.69
Sep
6.41
6.13
5.67
5.13
4.10
4.98
Sep
1.71
1.72
1.56
1.68
1.66
1.69
Oct
6.46
6.13
5.77
5.13
4.10
4.99
Oct
1.70
1.70
1.59
1.60
1.60
1.66
Nov
6.54
6.13
5.93
5.19
4.10
5.04
Nov
1.74
1.70
1.68
1.60
1.57
1.68
Dec
6.69
6.13
6.15
5.38
4.12
5.14
Dec
1.77
1.70
1.74
1.64
1.56
1.70
6.18
6.14
5.65
4.83
4.04
4.93
Avg
1.73
1.71
1.74
1.58
1.65
1.68
1.69
Avg
6.51
High
6.65
6.37
6.15
6.15
5.38
4.12
5.14
High
1.75
1.73
1.76
1.74
1.75
1.77
1.72
Low
6.35
6.13
6.13
5.38
4.23
3.85
4.76
Low
1.71
1.70
1.70
1.51
1.55
1.56
1.66
MONTHLY 5-YR SEASONAL FACTOR
MONTHLY VEAL CARCASS PRICES
108%
$3.94
105%
$3.58
101%
$3.22
98%
$2.86
94%
$2.50
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
'09-'13
14
Jan Feb Mar Apr May Jun
13
15P
14P
Jul Aug Sep Oct Nov Dec
Market Insight for the Meat and Poultry Industry © | A publication of Obsono, LLC | 732-240-2349 | P.O. Box 312, Bayville, NJ 08721
While the data contained in this report is gathered from reliable sources, accuracy and completeness cannot be guaranteed. The publisher does not give investment advice or act as an
investment advisor. All data, information, & opinions are subject to change without notice. This publication is protected by U.S. copyright laws. Do not copy or redistribute this information.
Market Insight for the Meat and Poultry Industry | Released JULY 2014 | PAGE 12
Veal: 348A Leg, TBS 3-Piece 24/32-(LTL)
Supplies will tighten into early next year and even though demand will likely be steady going forward, the limited availability will probably
result in a higher price trend.
MARKET PRICES AND PROJECTIONS
$10.85
$10.20
$9.55
$8.90
$8.25
'09-'13
Jan
Feb
Mar
Apr
May
Jun
PROJECTED
13
14P
Jul
Aug
14
Sep
Oct
15P
Nov
Dec
PROJECTED
MARKET PRICE: YS Boxed Veal Cuts, 348A Leg, TBS 3-Piece 24/32-(LTL)
2015
2014
2013
2012
2011
2010 5-Yr Avg
VEAL RATIO: UB Carcass vs UB 348A Leg, tbs 3-piece 24/32
2015
2014
2013
2012
2011
2010 5-Yr Avg
Jan
10.37
9.93
9.88
9.60
8.53
8.10
8.99
Jan
2.82
2.78
2.78
2.86
3.13
3.72
3.20
Feb
10.39
9.94
9.88
9.60
8.64
8.10
8.97
Feb
2.80
2.79
2.80
2.78
3.17
3.68
3.18
Mar 10.43
10.00
9.86
9.60
8.84
7.89
8.94
Mar
2.78
2.78
2.82
2.70
3.22
3.37
3.13
10.52
10.00
9.83
9.75
8.98
8.14
9.03
Apr
2.78
2.78
2.81
2.67
3.26
3.53
3.17
May 10.54
10.07
9.83
9.80
8.98
8.17
9.02
May
2.77
2.77
2.81
2.67
3.22
3.48
3.19
2.74
Apr
10.63
9.83
9.67
8.98
8.14
8.92
Jun
2.88
2.81
2.62
3.16
3.43
3.15
Jul
10.42
9.83
9.50
8.98
8.25
8.89
Jul
2.82
2.81
2.58
3.10
3.44
3.12
Aug
10.25
9.83
9.50
9.16
8.25
8.93
Aug
2.78
2.81
2.61
3.10
3.40
3.14
Jun
10.48
Sep
10.08
9.90
9.50
9.23
8.25
8.96
Sep
2.70
2.77
2.62
3.03
3.34
3.10
Oct
10.12
9.93
9.55
9.40
8.25
9.00
Oct
2.67
2.76
2.63
2.94
3.23
3.05
Nov
10.38
9.93
9.61
9.60
8.30
9.05
Nov
2.76
2.76
2.72
2.97
3.18
3.06
10.24
9.93
9.87
9.60
8.38
9.17
Dec
2.72
2.76
2.79
2.92
3.18
3.09
Avg
Dec
10.46
10.09
9.87
9.63
9.07
8.18
8.99
Avg
2.78
2.80
2.79
2.69
3.10
3.42
3.13
High
10.54
10.63
9.93
9.87
9.60
8.38
9.17
High
2.82
2.88
2.82
2.86
3.26
3.72
3.20
Low
10.37
9.93
9.83
9.50
8.53
7.89
8.89
Low
2.74
2.77
2.76
2.58
2.92
3.18
3.05
MONTHLY 5-YR SEASONAL FACTOR
MONTHLY VEAL CARCASS PRICES
104%
$3.94
102%
$3.58
100%
$3.22
99%
$2.86
97%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
$2.50
'09-'13
14
Jan Feb Mar Apr May Jun
13
15P
14P
Jul Aug Sep Oct Nov Dec
Market Insight for the Meat and Poultry Industry © | A publication of Obsono, LLC | 732-240-2349 | P.O. Box 312, Bayville, NJ 08721
While the data contained in this report is gathered from reliable sources, accuracy and completeness cannot be guaranteed. The publisher does not give investment advice or act as an
investment advisor. All data, information, & opinions are subject to change without notice. This publication is protected by U.S. copyright laws. Do not copy or redistribute this information.
Market Insight for the Meat and Poultry Industry | Released JULY 2014 | PAGE 13
Veal: 349A Top Round, Trimmed, Cap-Off 8/10-(LTL)
Top rounds are expected to dip short term before moving higher into the fourth quarter with a possible modest increase late in the year.
Supplies will be tighter during the fourth quarter.
MARKET PRICES AND PROJECTIONS
$16.25
$15.00
$13.75
$12.50
'09-'13
$11.25
Jan
Feb
Mar
Apr
May
Jun
PROJECTED
13
Jul
Aug
14
Sep
15P
Oct
Nov
Dec
PROJECTED
VEAL RATIO: UB Carcass vs ub 349A Top Round, Trimmed
MARKET PRICE: YS Boxed Veal Cuts, 349A Top Round, Trd, Cap-off 8/10-(LTL)
2015
14P
2014
2013
2012
2011
2010 5-Yr Avg
2015
2014
2013
2012
2011
2010 5-Yr Avg
Jan
15.94
15.00
15.01
13.55
12.50
8.93
12.12
Jan
4.33
4.20
4.23
4.03
4.59
4.10
4.23
Feb
15.99
15.00
15.13
13.55
12.50
9.03
12.12
Feb
4.31
4.21
4.28
3.92
4.59
4.11
4.22
Mar 16.11
15.00
15.09
13.76
12.67
9.21
12.22
Mar
4.30
4.17
4.31
3.86
4.62
3.94
4.20
16.13
15.00
15.03
13.88
12.63
9.43
12.22
Apr
4.26
4.17
4.29
3.80
4.59
4.09
4.22
May 16.11
15.14
14.89
13.96
12.63
9.81
12.15
May
4.23
4.16
4.25
3.80
4.53
4.18
4.21
15.25
14.96
13.92
12.56
10.42
12.23
Jun
4.20
4.14
4.27
3.76
4.43
4.40
4.23
15.32
14.98
13.93
12.45
10.66
12.19
Jul
4.15
4.28
3.78
4.30
4.45
4.19
Apr
Jun
16.10
Jul
Aug
15.33
14.98
13.93
12.49
11.14
12.24
Aug
4.15
4.28
3.82
4.23
4.59
4.21
Sep
15.48
14.99
14.04
12.85
11.67
12.43
Sep
4.14
4.19
3.87
4.22
4.72
4.22
Oct
15.66
15.00
14.32
13.12
11.95
12.60
Oct
4.13
4.17
3.95
4.10
4.68
4.19
Nov
15.90
15.00
14.68
13.42
12.29
12.80
Nov
4.23
4.17
4.15
4.14
4.72
4.25
Dec
16.01
15.00
14.87
13.55
12.50
12.95
Dec
4.25
4.17
4.21
4.13
4.75
4.27
Avg
16.06
15.07
15.00
14.03
12.78
10.59
12.36
Avg
4.27
4.17
4.24
3.91
4.37
4.39
4.22
High
16.13
15.25
15.13
14.87
13.55
12.50
12.95
High
4.33
4.21
4.31
4.21
4.62
4.75
4.27
Low
15.94
15.00
14.89
13.55
12.45
8.93
12.12
Low
4.20
4.14
4.17
3.76
4.10
3.94
4.19
MONTHLY 5-YR SEASONAL FACTOR
MONTHLY VEAL CARCASS PRICES
105%
$3.94
103%
$3.58
101%
$3.22
99%
$2.86
97%
$2.50
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
'09-'13
14
Jan Feb Mar Apr May Jun
13
15P
14P
Jul Aug Sep Oct Nov Dec
Market Insight for the Meat and Poultry Industry © | A publication of Obsono, LLC | 732-240-2349 | P.O. Box 312, Bayville, NJ 08721
While the data contained in this report is gathered from reliable sources, accuracy and completeness cannot be guaranteed. The publisher does not give investment advice or act as an
investment advisor. All data, information, & opinions are subject to change without notice. This publication is protected by U.S. copyright laws. Do not copy or redistribute this information.
Market Insight for the Meat and Poultry Industry | Released JULY 2014 | PAGE 14
Veal: 1312 Osso Buco, Foreshank-(LTL)
Supplies are tighter as production continues to decline. Expect some short-term buying opportunities as demand is seasonally slower
throughout the summer months.
MARKET PRICES AND PROJECTIONS
$10.80
$10.00
$9.20
$8.40
$7.60
$6.80
$6.00
'09-'13
Jan
Feb
Mar
Apr
May
Jun
PROJECTED
13
Jul
Aug
Sep
14
Oct
15P
Nov
Dec
PROJECTED
MARKET PRICE: YS Boxed Veal Cuts, 1312 Osso Buco, Foreshank-(LTL)
2015
14P
2014
2013
2012
2011
2010 5-Yr Avg
VEAL RATIO: UB Carcass vs UB 1312 Osso Buco, Foreshank
2015
2014
2013
2012
2011
2010 5-Yr Avg
Jan
9.48
9.38
9.78
7.77
5.30
4.80
6.53
Jan
2.58
2.63
2.75
2.31
1.95
2.20
2.24
Feb
9.67
9.38
9.88
8.03
5.38
5.39
6.74
Feb
2.61
2.63
2.80
2.33
1.97
2.45
2.31
Mar
9.84
9.38
9.97
8.23
5.49
5.59
6.80
Mar
2.62
2.60
2.85
2.31
2.00
2.39
2.30
Apr
9.90
9.38
9.65
8.42
5.81
5.45
6.78
Apr
2.61
2.60
2.76
2.31
2.11
2.36
2.29
May 10.00
9.53
9.65
8.63
5.83
5.35
6.77
May
2.62
2.62
2.76
2.35
2.09
2.28
2.29
2.62
9.68
9.65
8.69
5.82
4.92
6.69
Jun
2.63
2.76
2.35
2.05
2.08
2.25
Jul
9.45
9.65
8.36
5.98
4.85
6.63
Jul
2.56
2.76
2.27
2.06
2.02
2.22
Aug
9.55
9.65
8.48
6.13
4.98
6.71
Aug
2.59
2.76
2.33
2.07
2.05
2.25
Sep
9.56
9.23
8.60
6.50
4.98
6.72
Sep
2.56
2.58
2.37
2.14
2.01
2.23
Oct
9.86
9.21
9.02
6.90
4.98
6.91
Oct
2.60
2.56
2.49
2.16
1.95
2.25
Nov
10.14
9.38
9.32
7.15
5.09
7.10
Nov
2.70
2.60
2.64
2.21
1.95
2.31
Dec
10.45
9.38
9.71
7.60
5.23
7.29
Dec
2.77
2.60
2.75
2.31
1.99
2.36
Jun
10.03
Avg
9.82
9.45
9.59
8.60
6.16
5.13
6.80
Avg
2.61
2.62
2.71
2.40
2.09
2.14
2.28
High
10.03
9.68
9.97
9.71
7.60
5.59
7.29
High
2.62
2.63
2.85
2.75
2.31
2.45
2.36
Low
9.48
9.38
9.21
7.77
5.30
4.80
6.53
Low
2.58
2.60
2.56
2.27
1.95
1.95
2.22
MONTHLY 5-YR SEASONAL FACTOR
MONTHLY VEAL CARCASS PRICES
114%
$3.94
108%
$3.58
102%
$3.22
96%
$2.86
90%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
$2.50
'09-'13
14
Jan Feb Mar Apr May Jun
13
15P
14P
Jul Aug Sep Oct Nov Dec
Market Insight for the Meat and Poultry Industry © | A publication of Obsono, LLC | 732-240-2349 | P.O. Box 312, Bayville, NJ 08721
While the data contained in this report is gathered from reliable sources, accuracy and completeness cannot be guaranteed. The publisher does not give investment advice or act as an
investment advisor. All data, information, & opinions are subject to change without notice. This publication is protected by U.S. copyright laws. Do not copy or redistribute this information.
Market Insight for the Meat and Poultry Industry | Released JULY 2014 | PAGE 15
Veal: 1337 Osso Buco, Hindshank-(LTL)
Buying interest is at or near the yearly lows for this item. Expect inquiries to increase near the end of the third quarter and for this increase
to continue through the end of the year.
MARKET PRICES AND PROJECTIONS
$15.00
$13.25
$11.50
$9.75
'09-'13
$8.00
Jan
Feb
Mar
Apr
May
13
Jun
PROJECTED
14P
Jul
14
Aug
Sep
15P
Oct
Nov
Dec
PROJECTED
MARKET PRICE: YS Boxed Veal Cuts, 1337 Osso Buco, Hindshank-(LTL)
VEAL RATIO: UB Carcass vs 1337 Osso Buco, Hindshank
2015
2014
2013
2012
2011
2010 5-Yr Avg
Jan
13.30
13.13
13.30
10.80
7.78
7.75
Feb
13.50
13.18
13.30
11.13
7.91
7.75
9.61
Feb
3.64
3.70
3.77
3.22
2.90
3.52
3.33
Mar 13.59
13.28
13.11
11.32
8.16
8.40
9.78
Mar
3.62
3.69
3.74
3.18
2.97
3.59
3.35
Apr
9.52
Jan
2015
2014
2013
2012
2011
2010 5-Yr Avg
3.61
3.68
3.75
3.22
2.86
3.56
3.30
13.75
13.28
13.00
11.58
8.41
8.07
9.78
Apr
3.63
3.69
3.71
3.17
3.06
3.50
3.35
May 13.86
13.38
13.27
11.58
8.43
7.72
9.77
May
3.64
3.68
3.79
3.15
3.02
3.28
3.36
Jun
13.50
13.75
11.61
8.43
7.24
9.77
Jun
3.68
3.66
3.93
3.14
2.97
3.05
3.35
Jul
13.31
12.98
11.87
8.74
7.15
9.72
Jul
3.61
3.71
3.22
3.02
2.98
3.32
Aug
13.20
12.75
11.68
8.98
7.15
9.66
Aug
3.58
3.64
3.20
3.04
2.95
3.30
Sep
13.38
12.75
11.93
9.19
7.34
9.79
Sep
3.58
3.57
3.29
3.02
2.97
3.31
Oct
13.80
12.99
12.35
9.64
7.65
10.07
Oct
3.64
3.61
3.41
3.02
2.99
3.33
14.08
Nov
14.22
13.13
12.72
10.26
7.74
10.32
Nov
3.78
3.65
3.60
3.17
2.97
3.41
Dec
14.55
13.13
13.19
10.66
7.78
10.50
Dec
3.86
3.65
3.73
3.24
2.95
3.44
Avg
13.68
13.52
13.12
11.81
8.88
7.64
9.86
Avg
3.64
3.68
3.71
3.29
3.02
3.19
3.35
High
14.08
14.55
13.75
13.19
10.66
8.40
10.50
High
3.68
3.70
3.93
3.73
3.24
3.59
3.44
Low
13.30
13.13
12.75
10.80
7.78
7.15
9.52
Low
3.61
3.66
3.57
3.14
2.86
2.95
3.30
MONTHLY 5-YR SEASONAL FACTOR
MONTHLY VEAL CARCASS PRICES
114%
$3.94
108%
$3.58
102%
$3.22
96%
$2.86
90%
$2.50
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
'09-'13
14
Jan Feb Mar Apr May Jun
13
15P
14P
Jul Aug Sep Oct Nov Dec
Market Insight for the Meat and Poultry Industry © | A publication of Obsono, LLC | 732-240-2349 | P.O. Box 312, Bayville, NJ 08721
While the data contained in this report is gathered from reliable sources, accuracy and completeness cannot be guaranteed. The publisher does not give investment advice or act as an
investment advisor. All data, information, & opinions are subject to change without notice. This publication is protected by U.S. copyright laws. Do not copy or redistribute this information.