2020 average prices for Choice Steers are forecast at $108.71/cwt., marking the second year of declines. 2021 average prices are forecast at $114/cwt, marking some recovery, but still coming in below 2018 and 2019. Despite lower farmgate prices for commodity beef, prices for beef marketed to local consumers have generally held steady.
Northeast specialty meat producers have had to pivot away from restaurant markets and towards individual sales to consumers in many cases. While the demand has generally been strong, this has been a challenging adjustment for some.
Seasonal cycles continue to affect slaughter availability in the region, with capacity constraints affecting some Northeast producers.
Eggs are trending significantly higher in 2020. Prices surged in the 1st quarter but have backed off slightly since. The 2020 season average is forecast at $1.17/doz, compared to $0.94 last year. The 2021 forecast is for $1.10/doz.
Pork exports have substantially increased due to rising demand from China. Beef and broiler exports are also higher, but to a lesser extent. Turkey exports are forecast lower.