Goldman Sachs Updates View on Protein Markets Ahead of Hormel Earnings

Goldman Sachs has released its latest protein market analysis, showing mixed conditions across domestic meat sectors in July. According to the report, pork cutout prices fell 11.2% year-over-year in July, while beef cutout prices declined 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, while 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.