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Produce
Unfavorable weather patterns and seasonal decreases in Mexico, Guatemala, and the U.S. continue to affect different growing areas and commodities. Consequently, these issues are expected to result in prolonged periods of higher market prices and possible supply shortages. For the Salinas Valley, weather challenges will continue through July as temperatures have been very hot. While the early harvesting had caused some issues with supplies, the heat wave may now also be a factor in causing more supply issues. While we have been seeing good quality on most items and supply was improving, the heat wave will likely be impacting that progress.
Grains
The soybean oil market was on fire last week. Due to the recent market lows, biofuel manufacturers entered back into the market and pushed the market nearly 16% higher. It took Canola oil and palm oil higher, too.
Dairy
Shell Egg markets remain steady with steady demand. California eggs re still dropping slightly. Cheese and butter markets are both up due to increased demand. Cream and culture pricing will have nominal increases for July. Processed Eggs will see a decrease for July as Avian Influenza is not a factor this season.
Beef
Packers continue to pay more for cattle and are left with the need to balance cost w/ return on investment going forward. Middle meats have slowed and anything grading less than upper 2/3 programs on strip, rib, and sirloin sub–primals are encountering resistance. Insides, chucks, and grinds continue steady; due to need for lean material for ground beef.
Pork
Butts continue to come down as post–holiday demand was expected to be weak. Loins are still down as demand has tapered off, but based on historical trends, could still rebound. Ribs took a hit this week, as demand has waned. The belly market continues its downward trend for several weeks, but experts are still calling this market volatile. Trimmings are down with good supply.
Poultry
Wings and tenders continues to be the hottest part of the bird and excess supply is nonexistent. The wing market continues to show growth despite being in a traditional slow time for wing demand. Breast have started to even out. Dark meat demand remains very good. Whole birds are mostly balanced.
Seafood
Wild salmon season is in full swing and domestic shrimp have been at great value all year with steady prices. Wild domestic shrimp and wild domestic salmon are great additions to summer menus that customers look for. Be sure and check out all that Portico fish and shrimp offer in Wild and Domestic selections!
