Goldman Sachs Sees Mixed Protein Market Conditions Ahead of Earnings

Goldman Sachs has released its latest protein market analysis, showing mixed conditions across domestic meat sectors in July. The report found that pork cutout prices fell 11.2% year-over-year, remaining below the five-year average. In contrast, beef cutout prices declined by only 2.6% compared to the prior year.

The poultry sector showed varied performance in July, with prices for tenderloins, leg quarters, and breasts decreasing during the month. However, wing prices moved higher. Egg prices rose in July but remained below the five-year average.

Goldman Sachs maintains a favorable view on Hormel Foods entering its fiscal third-quarter earnings report scheduled for August 27. The investment bank's Protein in Pictures report provides data points for tracking trends across commodity markets relevant to protein companies.