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Produce

Lack of manpower, freight, and operational issues continue to plague all parts of the industry, posing challenges in the supply chain flow from harvest to shipping to receiving.

Grains

This year’s Canola crop will be harmed by the hot and dry weather in Canada. Corn will suffer some losses in the United States as well. Soybeans are doing better, although soybean oil stocks are down; nonetheless, soybean oil was down a little last week. Following soybean oil, palm oil was also down.

Dairy

Natural cheese and mozzarella markets remained unchanged from week to week, but processed cheese markets fell. Butter prices remained unchanged from week to week. This week, extra large and big eggs have increased $0.02$0.03/dz, while medium eggs have increased $0.01/dz.

Beef

Prices are continuing to rise, while supply is decreasing. Finding product for the rib is now the primary priority; cost is a secondary consideration. Tenders and loin thin meats quickly rebound upwards due to decreased supply, benefiting the loin complex. With a mix of retail and export demand driving it, chucks and rounds are hard to come by and priced more.

Pork

Due to retail demand, bone in butts saw a little increase late last week and should now trade sideways. Loins are likewise trading in a sideways pattern. Spareribs are on their way back up due to increased demand and price cuts in recent weeks. Bellies appeared to have reached their peak and may be starting to decline, but fresh bellies are still in short supply.

Poultry

Labor shortages persist across the business, but supply for many commodities is improving. Wings are becoming more readily accessible at the moment, but demand is projected to increase as football season approaches. Tenders cost a lot of money and are hard to come by. Breasts are in high demand, and the market is rising upward.

Seafood

With the new season, the supply of brown shrimp and white shrimp has improved. Whites, browns, and peeled shrimp in certain sizes are still unavailable. The huge tails of North Atlantic lobster (56oz and greater) are on allocation until the start of the Nova Scotia lobster season in December. Crab meat that has been pasteurized is still in scarce supply.

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Produce

Lack of manpower, freight, and operational issues continue to plague all parts of the industry, posing challenges in the supply chain flow from harvest to shipping to receipt.

Grains

Soybean crop scores have improved with some excellent weather, allowing soybean oil to fall somewhat, while drought-stricken Canola growing regions will face crop losses. Demand from China and available supply pushed palm oil prices higher.

Dairy

Though production was higher, cheese markets climbed week over week. With ample supply, butter markets fell by $0.072/lb week over week. With solid demand and supply, extra big and giant eggs have declined $0.02$0.03/dz this week.

Beef

Pricing is growing higher, and supply is trending lower, as the recipe of little yield and higher demand continues to settle in. The rib complex is increasing and looks to be on the upswing in the next weeks. Due to limited availability and renewed interest at cheaper costs, the loin complex has firmed up as well, with tenders and most of the loin thin meats rebounding upwards.

Pork

Due to labor shortages, harvest numbers are continuing to decline. The price of all primal marketplaces is increasing. Butts have recovered following a three-week decline, and retail demand has increased. Due to market demand, loins are following in the footsteps of butts. As supply continues to be an issue, rib concessions have soon vanished. The size of our bellies is still increasing.

Poultry

Labor shortages persist across the business, but supply for many commodities is improving. Wings are becoming more readily accessible at the moment, but demand is projected to increase as football season approaches. Tenders cost a lot of money and are hard to come by. The breast market is essentially flat, with supplies in a variety of sizes.

Seafood

Due to a lack of labor to unload containers from ships, US ports are still experiencing delays, resulting in major imported seafood shortages. COVID has rendered Vietnam fully inaccessible. Pangasius and large shrimp may be affected. The cost of a container continues to rise.

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Produce

Large issues persist in all parts of the industry, including a shortage of steady labor and high freight prices, posing challenges in the supply chain flow from harvest to shipping to reception.

Grains

Last week, rainfall aided the decline in soybean oil. The soybean crop is looking well for the most part. While the market was flat, the price of canola is expected to rise as the current crop is being harmed by drought. Palm oil prices have risen as production has slowed.

Dairy

Week after week, the cheese markets began to drop. This week, the butter market was flat; nevertheless, it began to fall late last week. Except for Mediums decreasing $0.02/dz, there are no current changes in the shell egg market this week. For the month of August, the milk and cream markets will decline in most categories.

Beef

The market corrections continued to be gradual because to end user desire and back-to-back minor harvest weeks overlapping. The rib complex continues to be in short supply, and prices are rising. The loin sub-primal continues to struggle, with thin loin meats contributing to lower prices. Although chucks were lower, export interest helped to moderate the decline.

Pork

The market for pork butts is still declining, but it is projected to bottom out next week. Right now, B/I butts are regarded a good value buy; expect retail support to push this market higher. Fresh bellies are still in high demand, and supplies are limited. This market will continue to be strong. Even though the market is short on spareribs, prices will drop again next week.

Poultry

Whole birds were down. Jumbo breasts were down. Medium and small breasts were flat. Tenders are higher because of the increased demand. Although the price of jumbo wings was flat, it was historically high. The medium wings were completely flat. Small wings had been lowered. The demand for boneless dark meat is strong, although it is flat. Dark flesh with bones is flat.

Seafood

Warm-water lobsters are in short supply, with fresh season product arriving in mid- to late-August. The demand for North Atlantic lobster tails and flesh continues to outstrip supply. Pasteurized crab meat is in short supply, and there are no alternatives available. The supply of brown shrimp is increasing.

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Produce

Large issues persist in all parts of the industry, including a shortage of steady labor and high freight prices, posing challenges in the supply chain flow from harvest to shipping to reception.

Grains

Last week, all vegetable oil kinds rose in price. As soybean crops in the United States are stressed, the main cause is very hot and dry weather. Canola is growing more challenging by the day, and this crop will suffer some losses. Soybean oil-based products, Canola, and palm oil are all expected to rise in price.

Dairy

The cheese markets flattened week over week, barely going up with flat demand. The Butter market decreased by $0.011/lb week over week on weak  demand. There are no current changes to the Shell Egg market this week, all sizes remain unchanged.

Beef

Due to exports, most packers were unable to supply Chucks. Rounds continued to weaken, but interest served to keep the decrease at bay for the time being. Ribs appear to have reached a plateau, while strips and tenders continue to fall. Thin meats such as tritips, sirloin flaps, and chuck flaps continue to be underpriced. Demand for grind and trim has slowed, causing cost and demand to fall.

Pork

After a few brief harvest weeks, hog futures have stabilized. Butts are easing slightly heading into next week as demand continues to fall. Spareribs are also expected to fall off next week, with the market trading sideways as August approaches. Fresh bellies continue to have a stable demand and limited supply due to the lack of cold storage. Trim is rising once more.

Poultry

Labor shortages persist across the business, but availability for some commodities is improving. Jumbo wings and tenders are expensive, and the product is hard to get by. The breast market is flat, and there is plenty of supply in a variety of sizes. Portion control breasts are stable, but supply are limited due to labor.

Seafood

Warm-water lobsters are in short supply, and there are few options to replace them. The first cargo left Nicaragua last week, but the product will take longer than projected to reach the warehouses due to transportation and container constraints. Suppliers of North Atlantic Lobster are striving to refill warehouses.

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Produce

Challenges remain industry‐wide with lack of labor, pallets and freight in all segments of the business, making for challenges in the executions of the supply chain flow from harvest to shipping to receiving.

Grains

The grain futures market dropped a bit last week. This was in response to very needed rain in some very dry areas. Corn is most vulnerable due to its life cycle.

Dairy

Supply of cheese tightens as the markets increase. The butter market saw a decrease in $0.043/lb week over week with abundant supply. Jumbo, extra large, and large shell eggs increased week over week with increased demand.

Beef

Price reductions slowed and continues to be in correction mode. Chucks and rounds are having larger corrections than ribs and strips, with support of trim & grind market slowing and exports not pulling at same rates as prior. Thin meats: tri tips, ball tips, sirloin flap, chuck flap continue to show weakness in pricing.  Grind and trim slowed in pricing and demand.

Pork

Hog futures are still showing weakness in the market. Bone‐in and boneless butts are still trending down as domestic and export demand has softened up. Loins have leveled off and trading sideways as retail as pulled back on this cut. Spareribs are coming down more next week and backribs are relatively flat. Fresh bellies are seeing an increase going into next week.

Poultry

Labor is still constrained across the industry, but supply is improving on some items. Jumbo wings and tenders are at premium pricing and product is difficult to find. The breast market is lower, and supply of random sizes are more available. Portion control breasts are steady with tight supplies due to labor.

Seafood

Due to the covid outbreak, the seafood flow in Vietnam and Indonesia has been disrupted. Items such as shrimp and pangasius will be affected. As for shrimp, certain sizes and forms are unavailable as demand is higher than production.