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Produce

Overall supplies across most commodities continue to see improvement due to warmer temperatures in the growing regions. These increased supplies have helped markets continue their downward trend. The Imperial Valley and Yuma growing regions saw rainfall towards the beginning of the week, which caused slight delays in the fields. However, supplies have continued to increase over the past few weeks and markets continued their downward trends.

Grains

Due to the dry weather in South America, particularly Argentina, pressure is being placed on soybean oil prices and, in fact, the entire soybean complex. Production of palm oil has been impacted by the severe rains in Malaysia, and Indonesia is once again revising its export regulations. Canola has not altered much.

Dairy

Higher prices on eggs have started to curb demand. Cheese markets have the potential for softness if demand slows though markets rose last week.

Beef

As the business adapts to decreasing supply, harvest rates, fed cattle prices, and primal values will all fluctuate significantly outside of historical price trends. There will be less stock on grocery store shelves along with the drop. The market appears to have “frozen” in place as a result of back-to-back decreased harvest weeks and winter storms moving across the nation. Due to possibly low stockpiles, ribs and tenderloin prices have remained stable within the tight delivery window. Strips remain stable; this cut, combined with top butts, has satisfied customer needs and helped the market bounce back from the lows experienced only a few weeks before. Rounds and Chucks are solid. 

Pork

Futures for lean hogs finished lower. February reached a two-week low and is getting close to being oversold. However, due to the unpredictable weather across the US, pork supplies are generally low. Slower demand results in fewer hams. Light volume and steady bellies were present. Trims were in high demand. 

Poultry

The season for wings has arrived, but there are still many options at reasonable costs. Product is easily accessible, and tender availability is rising. Seasonally low breast prices will persist through the end of the year, but estimates for slower production will result in a supply shortage. Thigh meat without a bone is widely accessible.

Seafood

Lobster season in Nova Scotia is coming to an end. Larger tails were disrupted by unfavorable weather. Reductions on Cod and increases for Pollock were announced by Alaska. Landing remain below average for brown shrimp, though the white shrimp season so far has been better than expected.  

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Produce

Overall supplies across most commodities continue to see improvement due to warmer temperatures in the growing regions. These increased supplies have helped markets continue their downward trend. The Imperial Valley and Yuma growing regions saw rainfall towards the beginning of the week, which caused slight delays in the fields. However, supplies have continued to increase over the past few weeks and markets continued their downward trends.

Grains

Last week, the soybean oil market recovered as dealers added back some of the volume they had previously sold off. The energy market also strengthened. Due to a decrease in demand and great stock levels, Palm was up. Canola remained almost unchanged. 

Dairy

Markets for shell eggs should continue to rise because there are now very few of them available, particularly in California. The demand for cheese and butter is slowing down, but milk supply is growing. Prices for Cream and Culture will be lower in January. 

Beef

Holiday hours were shortened and winter storms reduced availability. On the week, all cuts were constant or increased. The demand for ribs and tenders remains high this week. Strips are still a well-liked intermediate meat option. The price of the chuck and round is rising, and packer positions are getting better. With the short harvest, grinds jumped up and should be a favorite value cut in 2023. 

Pork

Butts are still trending up thanks to retail advertising demand. Butts are trailing loins in order. Even though exports are declining, the price of ribs is still keeping reasonably steady, thus this market should remain stable. Given the short harvest week and the sideways trading in stomachs, the market may move upward. Trimmings are also decreasing. 

Poultry

The time of year when there are the most wings available is called “wing season.” Product is easily accessible, and tender availability is rising. Seasonally low breast prices will persist through the end of the year, but estimates for slower production will result in a supply shortage. It’s easy to find dark meat. Both the price and supply of whole birds and cut ups are generally stable.

Seafood

Public freezers around the country continue to struggle with over capacity issues. Supply chain challenges persist even though there are some signs of improvement.

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Produce

As growing regions saw warmer temperatures, many volatile markets have continued to see a downward trend. We will likely see slightly cooler temperatures, but markets are expected to continue the downward trend.

Grains

Last week, the soybean oil market recovered as dealers added back some of the volume they had previously sold off. The energy market also strengthened. Due to a decrease in demand and great stock levels, Palm was up. Canola remained almost unchanged.

Dairy

Egg markets continue to increase as supply is extremely tight. Milk supply is increasing, and demand is slowing causing cheese and butter markets to decline 

Beef

The market is scarce because packers cut back on harvest last week and winter storms are sweeping the nation. Due to festive demand, ribs and tenderloins are still in high demand. Last-minute purchasers continue to fill in with this cut to meet the need for a middle meat choice as strip sales remain steady. The round and chuck are still trading mixed. The biggest gain from reduced harvest has been in grinds. 

Pork

Butts are still trending up thanks to retail advertising demand. Butts are trailing loins in order. Even though exports are declining, the price of ribs is still keeping reasonably steady, thus this market should remain stable. Given the short harvest week and the sideways trading in stomachs, the market may move upward. Trimmings are also decreasing.

Poultry

Over the weekend, two commercial egg layer farms were found to be HPAI-positive, adding another 2.5 million birds affected this fall. The farms were in South Dakota and Washington, respectively. HPAI is still having an impact on turkeys, with 9 million birds lost this year. Expect Turkey prices to continue high and for the selections to decrease. The season for wings has arrived, but there are still many options at reasonable costs. Product is easily accessible, and tender availability is rising. Seasonally low breast prices will persist through the end of the year, but estimates for slower production will result in a supply shortage. Thigh meat without a bone is widely accessible. Leg meat without bones is flattening. Both the price and supply of whole birds and cut-ups are generally stable.

Seafood

The season for Gulf oysters began on November 1. Multiple bays are closed in order to safeguard and rebuild oyster reefs. Introducing the Ecuadorian Portico Imperial Latin White Headless Shell-On shrimp. For more information, kindly contact your sales consultants. Hillman Half Shell Oysters are now offered from the La Porte, Texas, warehouse.

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Produce

Markets have seen continued volatility as growers deal with cooler weather, rainfall, multiple hurricanes, and growing region transitions which have considerably impacted overall yields through most growing regions. We will likely see markets remain higher for the remainder of the year.

Grains

Wheat and corn fell this week. Soybean markets moved much higher with poor crop news from South America. Canola oil was flat. Palm oil market was pulled down due to a large sell-off of speculators long position.

Dairy

Markets for shell eggs have increased significantly; the supply is currently very limited, especially in California. As milk production rises and demand begins to wane around the holidays, cheese and butter markets are beginning to contract. Decreasing prices for Cream and Culture in December. 

Beef

Decisions were taken as packers’ per-head profits decreased. Packers started reducing their harvest as early as last weekend and in the coming weeks. Due to festive demand, ribs and tenderloins are still in high demand. As shoppers continued to demand a middle meat alternative, strips did get firmer than in previous weeks. Chucks, rounds, and grinds are still traded in a mixed bag. 

Pork

Butts continue to rise above expectations due to store interest and advertising features. Next week, the market for ribs is expected to witness a modest increase, but it should then level off and remain essentially flat. As demand for this product continues to decline, loins have marginally decreased for the upcoming week. The massive cold storage inventories and decreased demand continue to drive down belly prices. 

Poultry

Over the weekend, two commercial egg layer farms were found to be HPAI-positive, adding another 2.5 million birds affected this fall. The farms were in South Dakota and Washington, respectively. The season for wings has arrived, but there are still many options at reasonable costs. Product is easily accessible, and tender availability is rising. Seasonally low breast prices will persist through the end of the year, but estimates for slower production will result in a supply shortage. Thigh meat without a bone is widely accessible.. 

Seafood

The lobster season in Nova Scotia is coming to a close. The possibility for the larger tails has been hampered by the poor weather. Alaska declares lower cod quotas and higher pollock quotas. In Texas and Louisiana, landings of head-on shrimp for peeling have significantly decreased. 

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Produce

Markets have seen continued volatility as growers deal with cooler weather, rainfall, multiple hurricanes, and growing region transitions which have considerably impacted overall yields through most growing regions. We will likely see markets remain higher for the remainder of the year.

Grains

The long-awaited biofuel mandates from the EPA were finally announced, which prompted investors to liquidate their long positions and drove the price of soybean oil lower. Due to the terrible weather in Malaysia, palm was somewhat higher, and canola was also up due to the EPA authorizing its use for biodiesel.

Dairy

Shell egg markets are still strong since demand is strong and supplies are limited. Despite a decline in cheese markets, demand is still high. Markets for butter are beginning to ease. As butter markets have fallen over the past 30 days, cream and culture prices have decreased for December.

Beef

In 2024, there will be a 3% decrease in beef production, and between 2% and 5% in 2025 and 2026. That might translate to a reduction in annual beef production of up to 500,000 metric tons. Overall, there is plenty of supply, and purchasers don’t seem pressed to make purchases beyond those necessary for the upcoming holiday season. Due to festive demand, ribs and tenderloins are still in high demand. As the demand for a medium meat product with a lower price point increased, strips did firm up above levels from weeks earlier. As long as supply outpaces demand, the chuck and round will continue to trade lower. 

Pork

Because of features in retail advertisements, butts rose as predicted. Due to the slowing demand, loin prices are still declining. Ribs remain flat for the upcoming week, but once suppliers start taking reservations, the market may rise. As suppliers purge frozen stocks, belly sales are also on the decline. 

Poultry

The season for wings has arrived, but there are still many options at reasonable costs. Product is easily accessible, and tender availability is rising. Seasonally low breast prices will persist through the end of the year, but estimates for slower production will result in a supply shortage. It’s simple to find thigh meat without the bones. 

Seafood

Cod filet prices are poised for a downturn heading into the new year but have been unusually strong since August. Frozen crab continues a nine-month falling streak. 

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Produce

Markets have seen continued volatility as growers deal with cooler weather, rainfall, multiple hurricanes, and growing region transitions which have considerably impacted overall yields through most growing regions. We will likely see markets remain higher for the remainder of the year.

Grains

With weaker crude oil futures and improved logistics along the Mississippi River, soybean oil moved marginally lower last week. Canola seed futures in Canada decreased as a result of declining Chinese demand. Although demand is low and stockpiles are strong, Palm climbed slightly higher.

Dairy

Butter prices are stable as long as demand is strong. Markets for shell eggs are still rising despite last week’s new AI epidemic. Despite strong demand, cheese markets are shrinking. Due to the recent decline in butter markets, cream and culture prices are falling for December. 

Beef

As the week goes on, buyers are applying the breaks as packers offer cheaper prices. Due to limited supply and ongoing seasonal demand, ribs and tenderloins remain popular. Strips continue to trade steadily because purchasers seem to be living off-the-grid and using them as middle-priced meat at a cheaper price point. Chucks and rounds are still reflecting a softer tone on quality supplies. 

Pork

Although butts are trading sideways, retail may offer some support, causing the market to stay flat. The rib complex is still suffering from high cold storage levels, thus the market should remain sluggish. Butts and loins saw some sideways movement and may appear in advertisements for goods shortly. The market is being flooded with fresh bellies as cold storage capacity keeps expanding. 

Poultry

The time of year when there are the most wings available is called “wing season.” Product is easily accessible, and tender availability is rising. Seasonally low breast prices will persist through the end of the year, but estimates for slower production will result in a supply shortage. Thigh meat without a bone is widely accessible.

Seafood

White and Tiger shrimp are saturating the market as demand has slowed. There are excess inventories in the US market. Lobster season has begun in Nova Scotia, resulting in larger tails.  season. Some importers are selling their inventory at a loss.

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Produce

Markets have seen continued volatility as growers deal with cooler weather, rainfall, multiple hurricanes, and growing region transitions which have considerably impacted overall yields through most growing regions. We will likely see markets remain higher for the remainder of the year.

Grains

Despite reports of rising stocks, the soybean oil market rose. We are anticipating the EPA’s statement regarding the approval of Canola for use in biodiesel. Canola oil will probably rise while the price of soybean oil may decrease as a result. On account of rising Chinese demand, Palm was up. 

Dairy

Due to the ongoing demand during the holidays, butter markets are rising. Markets for shell eggs are still growing, with the exception of California, where they remain stagnant. Markets for cheese are recovering as demand rises.

Beef

Last week, the average USDA Choice boxed-beef cutout declined 2.3 percent from the previous week, and it was 8.1 percent lower than a year ago. Spot live cattle prices are currently 13.6 percent costlier (y/y), which should equal more expensive beef prices, but that has not occurred yet as beef demand is soft. Wholesale beef prices usually peak after Thanksgiving, but this November price may have already topped.

Pork

Although they continued to go downward this week, butts were mostly flat. Still, ribs are descending, but more slowly than previous week. Supplies clearing out stockpiles is what has caused the drop. Because November is a slow month for pork, loins also continue to trend lower. Compared to prior weeks, bellies were slightly higher. There is a stable market for bacon notwithstanding low demand.

Poultry

The shell egg markets continue to price near or above record highs as bird flu culls unfortunately have still occurred, most recently in Iowa. The turkey markets remain historically high. The chicken markets continue to weaken, but prices usually bottom during November. The downside risk for chicken prices from here is likely nominal. The egg and liquid egg markets unfortunately still have upside potential and look poised to establish record highs in the nearing weeks. 

Seafood

The season for Gulf oysters began on November 1. Multiple bays are closed in order to safeguard and rebuild oyster reefs. The limited harvesting locations may remain accessible for an undetermined amount of time, but Portico Imperial Oysters will be available starting in January 2023. In Texas and Louisiana, landings of head-on shrimp for peeling have significantly decreased. The landing of Headless Whites 10/15, 16/20, and 21/25 has slowed down. Mahi-mahi sales are declining as consumers get ready for the upcoming 2022–2023 season. Some importers are selling their inventory at a loss.

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Produce

Vegetable supplies out of the Salinas Valley are considerably limited due to ongoing weather issues. The most affected are the lettuces (green leaf, red leaf, romaine and iceburg). Supplies out of Mexico saw a slight increase but supplies remain limited due to the heavy rainfall, hail and wind damage experienced two weeks ago. Growers continue to see quality issues such as tip burn, fringe burn, pin rot, browning and lighter weights

Grains

Despite reports of rising stocks, the soybean oil market rose. We are anticipating the EPA’s statement regarding the approval of Canola for use in biodiesel. Canola oil will probably rise while the price of soybean oil may decrease as a result. On account of rising Chinese demand, Palm was up. 

Dairy

Shell egg markets are soft in California but continue to increase everywhere else. Demand is increasing, causing the cheese markets to rebound. Continued holiday demand is causing the butter market to increase.

Beef

Because everyone is thinking about Thanksgiving, box beef demand is suffering, which has a negative impact on pricing. There are a few promising signs; ribs and tenderloins are still popular despite their limited supply and cyclical demand. Strips are becoming softer, but boxes of the highest quality are still hard to come by, while choice and choose continue to oversupply the market. 

Pork

Although they continued to go downward this week, butts were mostly flat. Still, ribs are descending, but more slowly than previous week. Supplies clearing out stockpiles is what has caused the drop. Because November is a slow month for pork, loins also continue to trend lower. Compared to prior weeks, bellies were slightly higher. There is a stable market for bacon notwithstanding low demand.

Poultry

The season for wings has arrived, but there are still many options at reasonable costs. Product is easily accessible, and there are more tenders available. Seasonally low breast prices will persist through the end of the year, but estimates for slower production will result in a supply shortage. Thigh meat without a bone is widely accessible. 

Seafood

The season for Gulf oysters began on November 1. Multiple bays are closed in order to safeguard and rebuild oyster reefs. The limited harvesting locations may remain accessible for an undetermined amount of time, but Portico Imperial Oysters will be available starting in January 2023. In Texas and Louisiana, landings of head-on shrimp for peeling have significantly decreased. The landing of Headless Whites 10/15, 16/20, and 21/25 has slowed down.

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Produce

Vegetable supplies out of the Salinas Valley are considerably limited due to ongoing weather issues. The most affected are the lettuces (green leaf, red leaf, romaine and iceburg). Supplies out of Mexico saw a slight increase but supplies remain limited due to the heavy rainfall, hail and wind damage experienced two weeks ago. Growers continue to see quality issues such as tip burn, fringe burn, pin rot, browning and lighter weights

Grains

Soybean oil futures rose sharply as a result of the South American soybean crop’s bad start, Brazil’s announcement that it will utilize more soybean oil for biofuel, as well as ongoing logistics concerns. As farmers are reluctant to sell Canola seed to the market, Palm followed suit, and Canola saw rises.

Dairy

Milk is shifting back to cheese production causing cheese markets to drop. Butter markets had dropped but are now starting to go back up. Shell eggs continue to climb but California markets are falling.

Beef

A stable market should be considered as a positive for packers as retail ramps up for the Thanksgiving holiday. Premium grade boxes and light weight range products are driving the ribs market, which is still strong. Strips are mixed; however, premium grade boxes continue to rise while Choice and Select appear to be stagnating. Grinds are steady, and chucks and rounds appear to be leveling.

Pork

Butts continue to trend lower and will do so marginally next week. Because suppliers are clearing off stockpiles, rib prices are still falling quickly. Due to November being a slow month for pork, loins are also heading downward. As supplies are pushed out, belly sizes are decreasing. 

Poultry

The season for wings has arrived, but there are still many options at reasonable costs. Product is easily accessible, and there are more tenders available. All sizes of breasts are widely available, but as the holidays draw near, supply will become more scarce as demand falls. Thigh meat without a bone is widely accessible.

Seafood

The season for Gulf oysters began last week, but there are several bay closures planned to save and rebuild oyster reefs. Texas Parks and Wildlife is unsure of how long the few harvesting zones will remain open. Mahi-mahi sales are declining as consumers get ready for the upcoming 2022–2023 season. Some importers are selling their inventory at a loss. In Texas and Louisiana, landings of head-on shrimp for peeling have significantly decreased. The landing of Headless Whites 10/15, 16/20, and 21/25 has slowed down. 

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Produce

Vegetable supplies out of the Salinas Valley are considerably limited due to ongoing weather issues. The most affected are the lettuces (green leaf, red leaf, romaine and iceburg). Supplies out of Mexico saw a slight increase but supplies remain limited due to the heavy rainfall, hail and wind damage experienced two weeks ago. Growers continue to see quality issues such as tip burn, fringe burn, pin rot, browning and lighter weights

Grains

The Black Sea Grain Initiative may be terminated by Russia, and low diesel fuel stockpiles all increased pressure on soybean oil. Prices for palm oil increased as well, but more so because Malaysian demand increased. With Canada’s harvest over, canola is essentially flat.

Dairy

The previous several days have seen a substantial decline in butter markets; fall orders appear to be finished. While a new instance of AI is being reported, shell egg sales are still rising. Cheese sales are declining as cheese manufacturing returns to milk.

Beef

Packers are still gathering animals, and they are intent on obtaining as many Choice and Select boxes as possible for the upcoming holiday season. Ribs keep going strong, but it’s hard to find light-weight products and packs of top quality. Round slices, chuck rolls, and strips all continue to be produced steadily.

Pork

Butts are seeing some modest market concessions, despite increased demand from retailers and exporters. With historic cold storage levels, the price of ribs is still declining, and suppliers keep building up their supplies. Because exports are preventing this market from declining, loin prices are also declining, though not as much as was anticipated. There is a good supply and a downward trend in belly size.

Poultry

The whole bird was up. Breasts had fallen. Tenders significantly decreased. Medium and jumbo wings were covered. Flat wings that were little. Boneless thigh flesh was greatly reduced. Leg meat without bones was on sale. Although it is wing season, there are still plenty of wings available. Prices are falling quickly and there are more tenders available. Breasts of every size are widely accessible, and costs are dropping. Prices for boneless thigh meat decreased once more this week. Boneless leg meat prices keep dropping. Cut ups and whole birds had a greater price.

Seafood

Due to conservation concerns, the Alaska Department of Fish and Game announced the closure of the Alaskan Red King crab season and the Alaskan snow crab season for 2022–2023. As processors find new labor sources, catfish production keeps becoming better. In Texas and Louisiana, landings of head-on shrimp for peeling have significantly decreased.