Poultry
Poultry prices rose slightly last week, with boneless breasts at $2.77/lb and tenderloins up $0.06 to $2.50/lb. Boneless thigh meat continued its steady climb, now 34% higher year-over-year. Increased harvest volumes and strong ad activity contributed to overall market firmness.
Outlook: Operators should expect continued elevated pricing through summer. Ensure GL coding and invoice audits are up to date to catch any variances in real time.
Beef
Beef prices remained strong despite softness in rib segments, with striploins increasing to $11.84/lb and cattle futures rising 3.5%. Ground beef and trim segments also edged upward.
Outlook: High beef prices may impact plate costs across multiple menu items. Use Back Office reporting tools to monitor actuals vs. theoretical costs and adjust purchasing where needed.
Pork
The pork cutout rose 3% to $108.12/cwt, supported by strong retail demand and gains in bellies, ribs, and trim. Bellies surged to $1.98/lb, while pork tenderloins also rose.
Outlook: Pork costs are expected to stay firm through July. Finance teams should update food cost models and evaluate prep yield to protect margins.
Seafood
Snow crab pricing fell 2.9% month-over-month as import volumes returned to normal. Market volatility appears to be easing as we enter the traditional on-season.
Outlook: Crab prices may remain soft this summer. Evaluate recipe profitability and consider leveraging this trend for limited-time seafood features.
Produce
Roma tomatoes dropped 15% last week to $9.48/cs, continuing a sharp two-week decline. Iceberg and avocados held flat, with seasonal lows expected to stabilize throughout the month.
Outlook: Produce pricing offers an opportunity for cost control. Review invoice accuracy and adjust forecasted spend based on seasonal performance trends.
Dairy
Butter climbed $0.13 to $2.49/lb, while cheese prices stayed flat amid strong promotional activity. Nonfat dry milk increased to $1.29/lb, supported by robust production and growing export demand.
Outlook: Expect moderate price increases in butter and milk segments. Reevaluate your P&L categories and ensure up-to-date pricing is reflected across recipes and reporting.
Grain
Spring wheat remains elevated on global concerns, but improving U.S. winter wheat crop ratings are keeping prices in check. Export activity remains steady but unspectacular.
Outlook: Grain costs may decline slightly in the short term. Use analytics tools to model savings opportunities and adjust ingredient costs accordingly.
