ANALYSIS: Record-Low Calf Slaughter Shapes the US Veal Market

The most striking development is the collapse in federally inspected calf slaughter. Through the week ending July 6, 2026, slaughter has ranged from about 1,350 to 2,100 head per week, compared with a 33-year average of roughly 14,000 to 16,000 head for the same period. Year-to-date, federally inspected calf slaughter totaled approximately 45,100 head, down 29.5% from the same period in 2025 and more than 60% below 2023 and 2024 levels. The July 6, 2026, total of 1,343 head was the lowest weekly volume in the available...

ANALYSIS: US Veal Carcass Prices Reach New All-Time Highs

The US veal industry remains under significant structural supply pressure. According to the USDA, the available calf supply continues to shrink as the US dairy herd has contracted in recent years, while data from the National Association of Animal Breeders (NAAB) show beef-on-dairy breeding has become increasingly common. Today, roughly 30% of dairy breeders utilize beef genetics, reducing the number of Holstein bull calves available for veal production. At the same time, several processors have exited the veal sector over the past few years in favor of beef...

ANALYSIS: US Veal Carcasses Hold at Record Price Levels Amid Limited Supply

Expana’s carcass veal prices in the Northeast (hide-off, 255–315 lbs) are described as full steady to firm sitting in the $660–$700/cwt range, holding at all time high price levels following the step-up seen earlier in the year. On average, this range is about 35% higher than the three-year average near $470/cwt. 

The strength in the market is largely tied to tight supply conditions, which continue to underpin pricing. According to USDA data, US...

The Retail Rundown: Ham Leads the Holiday Table as Promotions Surge

During Easter week, pork dominates the spotlight, accounting for 30% of all protein promotions. Within this category, ham stands out as the clear leader, making up 37% of all pork features and the highest share in the segment. Promotional activity has surged dramatically, with approximately 13,583 ham-related opportunities this week, a sharp increase from about 1,300 the week prior.

Data from Expana’s US Easter Index shows that wholesale prices for key holiday items have generally declined in 2026. The overall index dropped about 7% year-over-year (YOY)...

ANALYSIS: US Special-Fed Veal Market Conditions

US special-fed veal carcass prices remain at record-high levels, with Northeast Hide-off Carcasses (255/315 lb) trading in a $660 to $680/cwt range. Current prices are roughly 6 to 10% higher than 2025 averages, 28 to 32% above 2024 levels, and more than 120% above the 33-year average of about $296/cwt, underscoring tight supply conditions.

USDA Cattle Inventory reports from January 1, 2023 through January 1, 2025 show the US dairy cow herd declined by roughly 1%, reducing the pool of dairy-sourced calves available to the veal sector. At the same time, industry breeding data indicate...

ANALYSIS: Veal Slaughter Remains Well Below Year Ago Levels

USDA data shows special-fed veal slaughter in the Northeast and North Central regions remains well below prior years, with year-to-date totals through mid-September 2025 at 50,984 head, down 35% from 2024 and over 40% below 2022. Weekly kills have consistently tracked under the 3-year average. According to some market participants, supplies remain short as calf availability continues to be limited, in part due to market competition and elevated young calf values.

Packers have also been operating on reduced schedules, with several noting difficulty securing consistent head...