In early June, the grills are out of storage, and the aroma of smoked and grilled meats fills the warm air as friends and family gather to enjoy the weather and vacation season. Sizzling steaks, burgers, hot dogs, ribs, and other meats are a part of American culture. The demand for beef and pork products will rise over the coming weeks and months, ending on the Labor Day weekend in early September when the summer ends and grills are packed up and sent into storage until the summer of 2024.
Live and feeder cattle futures have been trending higher since reaching lower in early 2020, and lean hog futures have not been on the same bullish path. The cattle trend suggests supply issues, while the price action in the hog futures arena reflects a glut of pork at the beginning of the 2023 peak grilling season.
