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Produce
Adverse weather conditions and seasonal changes in growing regions in Mexico, Guatemala, and the U.S. are still impacting multiple commodities. As a result, we anticipate prolonged periods of increased market prices and possible supply shortages.
Grains
Soybean oil was lower last week as funds are selling contracts. The US crop looks excellent, the weather is favorable, technical data favors a downturn, and the EPA announced new rules that could lessen the demand for biodiesel. Canola is higher with some growing areas dry with crop damage. Palm is higher with increased demand.
Dairy
Shell egg markets are up this week. California and Northwest markets are up. The Block & Barrel are increasing. Butter is down.
Beef
With limited harvest, thin meats increased in price; continued demand for chucks and rounds are still bolstering those cuts, as need for lean trimmings continue to be top of mind. Grinds are leveling off and having to compete w/ other proteins. Upper 2/3 grade and PRIME product is limited, and prices are starting to firm.
Pork
Butts market continue to decline. Boneless Loins are steady, but softer for bone in as there is increased supply. Ribs overall continue to dive downward as supply has increased. The belly market is still being called as unsettled. The bottom has fallen out of trimmings, supply is getting tighter and 72’s & 42’s continued to increase significantly on the week.
Poultry
Wings have started to loosen up on the open market. Tenders continue to be mostly steady. Jumbo and medium breasts are mostly balanced. Small breasts are seeing some excess supply. Dark meat demand remains very good. Whole birds are mostly balanced.
Seafood
Wild salmon season is in full swing and domestic shrimp has 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!
