Protein Processors: Monthly Protein Monitor – June 2026

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Protein Processors: Monthly Protein Monitor – June 2026

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Protein Processors

Monthly Protein Monitor – June 2026

Industry Overview

Monthly protein monitor 02 July 2026

Our monthly protein monitor has key takeaways and charts from relevant United States Equity

Department of Agriculture (USDA) and Hedgers Edge animal protein data reported over United States

the past four weeks. Detailed charts are in Exhibits 1-22. With full USDA/protein third- Food Processors

party data for June, we update estimates for June quarter end protein companies: TSN,

PPC, SFD (see our preview note here). Peter T. Galbo, CFA

Research Analyst

Beef: Trailing 4-week boxed choice beef prices have averaged $393/cwt (up +2.6% YoY), BofAS +1 646 743 0175

select beef prices have averaged $375/cwt (up +1.3% YoY), and live cattle prices have peter.galbo@bofa.com

averaged $258/cwt (up +9.9% YoY). Beef packer margins have averaged ($241)/head on Isabella Simonato >>

a trailing 4-week basis according to Hedgers Edge vs ($51)/head in the comparable 4- Research Analyst Merrill Lynch (Brazil)

week period a year ago. Beef remains challenged as cattle costs continue to outpace +55 11 2188 4243

boxed beef pricing, keeping packer margins deeply negative. Following TSN’s Nebraska isabella.simonato@bofa.com

beef plant closure, in early June JBS recently announced the closure of its Souderton, PA Fernando Olvera >> Research Analyst

beef plant (slaughter capacity of 2k head/day) as the industry continues to rationalize Merrill Lynch (Mexico)

capacity. +52folvera@bofa.com55 5201 3473

Pork: Trailing 4-week boxed pork prices have averaged $98/cwt (down -17% YoY), and ChrisResearchDowningAnalyst

lean hog spot prices have averaged $94/cwt over the trailing 4 weeks (down -11% YoY). BofAS

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