US retail pork prices for July were generally higher compared to a month earlier, however varied compared to the year previous. Bacon prices edged +0.2% to $6.24/lb which is -15.9% under last year, while hams were up +2.0% in the latest data to $4.53/lb and is +11.0% over July 2022, while all other pork prices improved +2.8% to $3.56/lb for the month however is -2.4% under last year. All chops slipped -0.1% from July to $4.24/lb though is +1.5% over year-ago prices. Monthly wholesale pork values also rose overall in July. US pork cutout at $112.17/cwt jumped +21.0% on the month though is -7.0% under year-ago values. Wholesale bellies were up the most, surging +91.3% for July though is -0.6% under 2022, hams rose +17.9% on the month but is -8.3% under last year, while picnics rose +10.8% from the previous month and is +0.6% over last year. Ribs slipped -2.8% from June values and is -24.2% under 2022, while butts fell -12.7% on the month and is -20.3% under a year earlier.
Monthly US retail beef prices continue to climb higher: Uncooked ground increased +1.9% to $5.54/lb which is +2.0% over last year, roasts were up +2.6% to $7.20/lb bringing them +6.8% over July 2022, and steaks increased +2.6% to $10.63/lb (a new historical high behind Nov'21 at $10.23/lb & Jun'23 at 10.36/lb) which is +9.5% over last year. All other beef (not veal) rose +4.0% higher to $6.77/lb however is -0.5% under year-ago prices. Wholesale beef values overall declined from June into July, excluding a modest improvement in flanks. Choice cutout was down -6.5% in July to $308.82/cwt however is +15.1% over a year earlier, while select cutout fell -7.1% on the month to $280.61/cwt and is +15.9% over last year.
US retail broiler prices at $2.50/lb for July dipped -0.1% from June and is +2.0% over a year earlier. Wholesale broiler values declined -3.3% on the month to $0.92/lb which is -25.6% under 2022, however it's worth noting that wholesale broiler values were at historically high values with June 2022 at 1.29/lb representing the historical high.