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US retail pork prices for the month of January were primarily lower, excluding an increase in ham prices. Bacon prices fell -2.1% to $6.81/lb for the month and is -5.7% under last year, while chops were -4.0% to $4.14/lb which is +3.0% over January 2022. All hams rose +6.2% from a month earlier to $4.30/lb and is up +10.5% over year-ago levels, while Other pork declined -0.9% in the latest data to $3.61/lb which is +4.5% over last year.
- Monthly wholesale pork values were lower overall in the month of January. US pork cutout at $81.03/cwt fell -7.1% from December levels, bringing cutout -10.5% under year-ago levels. Wholesale picnics and hams declined in January but are significantly stronger than a year-ago, while remaining primal values were recorded under January 2022 levels. While wholesale ribs and loins were each up from the month previous, both are under last year's values.
- Monthly US retail beef prices were generally stable to modestly higher: Uncooked ground slipped -0.3% to $5.17/lb which is near even with last year, roasts climbed +0.6% to $6.77/lb bringing them -1.2% under Jan 2022, while steaks were up +1.3% to $9.58/lb which is -2.5% under last year, and other beef (not veal) edged +0.1% higher to $6.60/lb which is -2.6% under a year-ago.
- For comparison, wholesale beef values also recorded increases in January. Choice cutout improved +6.0% in January to $275.78/cwt bringing them -2.5% under last year, while select cutout rose +9.7% on the month to $255.21/cwt and is -6.7% under last year.
