Freshly Picked, June 20, 2022

Alerts & What’s Trending

Produce

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There is improving volume on mid-sized to small limes. Larger sizes will continue to be short. Favorable weather conditions throughout the growing regions have fueled increased supplies for many commodities helping markets remain steady as we see increased summer demand. Harvest crews continue to wok product in the fields to mitigate quality issues.

Grains

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Gains had a mostly down week with corn and wheat. Volatility on these items will persist. The soybean export season will get underway soon. Soybean oil traded higher last week but finished down sharply. Weather has improved in Canada for Canola, but no real pricing action has taken place.

Dairy

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Spot Cheese prices were mixed but well supported at the end of last week. Butter prices continue to climb up due to tighter cream suppliers. Egg market increased this week with good demand.

Beef

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Packers are trying to hold steady pricing for as long as possible. Chucks and rounds continue to trade steady. Tender supply is out pacing demand while strips show strength but could tail off in the upcoming weeks. Ribs are steady.

Pork

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Hams are starting to decline while pork trimmings continue to increase. Back ribs continue to trend down for the week while loins have started to show some strength but remain relatively flat. Butts continued their upward momentum.

Poultry

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Chicken breast prices are at a historic high. Production levels have not recovered from the pandemic and Avian Flu. The short production cycle will allow chicken to adjust quickly while seasonality shows that lower prices will most likely occur this month.  Avian Flu has had its worst outbreak since 2015. Turkey supply is extremely constrained across the market.

Seafood

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Seafood import prices are due shortly. The US ban on Russian imports will shift our demand to Canada. There has been a strong decline in the snow crab market. Canadian processing companies have stopped producing snow crab clusters. Domestic white shrimp season kicked off in Louisianna.

Freshly Picked, June 13, 2022

Alerts & What’s Trending

Produce

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Favorable weather conditions throughout the growing regions have fueled increased supplies for many commodities helping markets remain steady as we see increased summer demand. Harvest crews continue to wok product in the fields to mitigate quality issues.

Grains

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The soybean oil market was very volatile last week, starting the week lower. Canola oil is still finding logistic issues in Canada. Indonesian exports are still not shipping on palm oil.

Dairy

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The cheese markets have continued to slowly drop. Tighter cream supplies are forcing butter prices to climb. The egg market continues to remain down.

Beef

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Ribs and tenders are finding continued demand. A big question is how long will buyers pay current asking prices for middles with such a large harvest? Look for the steady range on chucks and rounds to hold true.  

Pork

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Hams are back up due to exports to Mexico. Bellies are still moving up as demand continues to increase. Loins remain flat while back ribs are slowing down and trending down for next week.

Poultry

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There is continued constraint on whole bird supply. Avian Flu is having its worst outbreak since 2015. 5.5 million Turkeys have been lost so far. The Midwest has been the most affected by the Avian Flu. Portion controlled breasts are still in high demand and difficult to come by. The current market is strong and excess product is nonexistent.

Seafood

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Domestic shrimps’ season had kicked off in Louisiana. Landing on head-on shrimp for peeling continues to be good. This is signaling softening prices. There has been a record low harvest for Gulf Oysters due to mortality rate and fishing areas being shut down. Frozen tuna imports have started to arrive.

Freshly Picked, June 6, 2022

Alerts & What’s Trending

Produce

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There us improving volume on mid-sized limes, though larger sizes will continue to be short throughout June. Tomato volume will be light as the growing season in Florida is coming to an end. Crop production in South Georgia has begun to ramp up. Cucumbers, squash, cabbage and bell peppers show good volume. The green bean market is showing short supply with high prices while corn quality is very nice

Grains

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The grain markets were lower this week. New corn crop export sales have tapered off. Soybean oil future had a dip this week but prices are still very high. Planting corn and beans from several states has been delayed due to weather.

Dairy

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The cheese markets are down slightly, due to softening demand. There has been a slower export demand than usual. Butter prices are up due to tighter cream supplies. Egg continued a downward trend last week due to declines in retail demand and Avian Influenza

Beef

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Live cattle are expected to remain steadily priced this week. The warm weather and Memorial Day weekend is a reminder that grilling weather has arrived. Ribs, strips and tenders have benefited from better demand and a smaller harvest this week.

Pork

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Retail and food service demand is up after the Memorial Day Holiday. The retail sector has been holding loins up which continue to move. Supplies have increased for ribs which are on a slight decline since summer booking have been completed.

Poultry

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The random breast market is historically high but there was a decrease this week. Tender availability is very tight with higher prices. Bird weight has improved, and demand has softened causing additional product availability.

Seafood

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Fishing zones for shrimp have all opened in Louisiana. So far there have been great catches. There has been a record low harvest for Gulf Oysters. Public fishing areas in Texas are all closed. Oyster companies are scrambling to get raw materials to freeze for the half-shell market.

Freshly Picked, February 21, 2022

Alerts & What’s Trending

Produce

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Mushrooms are in a dire state. High prices and limited availability continue to plague the industry. 

Grains

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Soybean oil continues to move higher with volatility over the last week. Soybean oil is moving higher along with canola due to tensions in the Black Sea region. There has been 15% increase in soybean oil since last month.

Dairy

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Butter, block and barrel markets are down for the week. Continued bad weather across the country are driving cream and egg markets up. 

Beef

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Larger supplies and lack-luster demand drove this week’s market to be under pressure. Outpacing demand are rib and tender availability. Overall market pressure could drive price lower.

Pork

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Hams were sold off this week as exports to Mexico are down. Ribs are trading side ways but demand is steady. Butts are expected to remain stable.

Poultry

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Tenders were up while dark meat was flat. Wings should continue to be available. The breast market continues to be very strong. Whole birds were up as supply continues to tighten.

Seafood

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The Covid resurgence has made restaffing difficult in China. Record low harvest for Gulf Oysters. Oyster companies are scrambling to acquire raw materials to freeze for the half-shell market. Supplies will be tight in the coming months.

Freshly Picked, February 14, 2022

Alerts & What’s Trending

Produce

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Mushrooms are in a dire state. High prices and limited availability continue to plague the industry. 

Grains

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Soybean oil is moving higher along with canola due to tensions in the Black Sea region. There has been 15% increase in soybean oil since last month.

Dairy

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Continued bad weather is driving the cream and egg markets up causing a shift from retail to foodservice. Block, barrel and butters markets are down for the week.

Beef

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Strips, loins and top butts are increasing in demand. Underperforming food service demand is causing tenders to slide. Packers are showing improved production. Transportation and foodservice demand continue to be volatile. Packers have noted that availability of cows is tighter than expected.

Pork

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Hams are expected to go back up with increased labor shortages. Bellies continue an upward trend due to tightened availability. Strong buying has caused butts to gain strength.

Poultry

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Tender availability is tightening. Breasts continue to have a strong demand with tight supplies. Wings are more widespread with availability on all sizes.

Seafood

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The season is ending for mahi-mahi. The 2021/2022 catches are below average resulting in higher costs.

Freshly Picked, February 7, 2022

Alerts & What’s Trending

Produce

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Mushrooms are in a dire state. High prices and limited availability continue to plague the industry. 

Grains

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Soybean oil markets continue to move higher with poorer then expected crops in South America. Good demand and less available stocks are pushing Canola and Palm Markets Higher.

Dairy

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Butter markets are down for the week while the cream and eggs markets are up due to continued bad weather across the country.

Beef

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Packers are showing improved production. Winter storms in the Northeast and Midwest are hindering distribution. Ribs and tender demand are steady. Strips, butts and short loins are increasing in demand.

Pork

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butts are gaining strength again. Loins are seeing an increased demand. Hams are coming down again but are expected to go back up with increased labor challenges.

Poultry

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Weather and COVID are affecting overall fresh chicken production. Tender availability is tightening and wings are more available in all sizes.

Seafood

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Congestion in ports has not improved, impacting seafood pricing and availability. Inflation persists in most seafood categories.

Freshly Picked, January 31, 2022

Alerts & What’s Trending

Produce

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Mushrooms are in a dire state. High prices and limited availability continue to plague the industry. 

Grains

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Soybean oil markets continue to move higher with poorer then expected crops in South America. Good demand and less available stocks are pushing Canola and Palm Markets Higher.

Dairy

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The block and barrel markets are in decline for the week while the butter, cream and eggs market are up due to bad weather across the country.

Beef

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Demand remains softer given the demand and sales for January and February year after year. Transportation, labor and COVID continue to heighten volatility within the market.

Pork

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Hams hit their floor last week and are starting to come back up. Loins came off their lows and made some big gains. Butts remained flat.

Poultry

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Whole birds were up this week as supply continues to tighten. Bad weather in the East and Midwest coupled with staffing issues is impacting production across the country.

Seafood

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Congestion in ports has not improved, impacting seafood pricing and availability. Inflation persists in most seafood categories. .

Freshly Picked, January 24, 2022

Alerts & What’s Trending

Produce

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Mushrooms are in a dire state. High prices and limited availability continue to plague the industry. 

Grains

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Soybean markets moved higher due to continued dryness in South American. Reduction in production was announced by Brazil. Palm and Canola both moved higher with production softening.

Dairy

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Weather conditions are driving mixed markets. Butter market has moved much higher in recent weeks.

Beef

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Several factors are effecting beef. Weather Omicron, reduced harvest and transportation issues are stressing demand. Inventories are tight due to retail demand and limited inventory. End cuts are moving higher in price. Strips, ribs and tenders continue to trade higher.

Pork

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Increased labor struggles are causing supply for boneless and precooked bacon supplies to tighten up.

Poultry

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Overall Fresh Chicken production is being effected by weather and COVID. The market for random breasts is very strong and continues to increase.

Seafood

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Fishing areas being shut down for conservation is leading to a record low harvest for Gulf Oysters. Keta salmon fishery came in way below the forecast harvest. Logistical constraints is resulting in short supply.

Freshly Picked, January 17, 2022

Alerts & What’s Trending

Produce

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Mushrooms are in a dire state. High prices and limited availability continue to plague the industry. 

Grains

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Soybean oil markets moved higher over the last couple of weeks due to demand increases, higher crude oil, much higher palm oil, and a consistently high Canola market. 

Dairy

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Processed cheese and milk markets are up for the week due to tightened milk supplies. Egg markets are up due to higher retail demand as companies and schools return to remote operations.  

Beef

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Packers have been allowed to drive prices up. Shorter production weeks has allowed producers to better position inventories.  Strips and tenders are trading steady. Ribs continue to slow in demand and drive pricing down. Chucks and rounds are following seasonal trends. 

Pork

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Butts showed a slight dip due to labor issues. Hams are continuing to trend down but are expected to trend back up. Bellies continue to gain strength 

Poultry

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Outside forces, like weather and Covid, are affecting fresh chicken this week. Wings and tenders are becoming more available as while the random breast market is facing supply constraints.  

Seafood

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Inflation prices are hurting the sector as 85% of the seafood in the US is imported.  Atlantic salmon inventories are rising while most of the tilapia being harvested are small.

Freshly Picked, January 10, 2022

Alerts & What’s Trending

Produce

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Mushrooms are in a dire state. High prices and limited availability continue to plague the industry. 

Grains

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Soybean oil markets moved higher over the last couple of weeks due to demand increases, higher crude oil, much higher palm oil, and a consistently high Canola market. 

Dairy

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Increased butter markets are causing the cream market to move higher. The natural, mozzarella and processed cheese markets are higher with lower production 

Beef

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Shorter production weeks has allowed producers to better position inventories. Strips and tenders are trading steady. Ribs continue to slow in demand and drive pricing down. Chucks and rounds are following seasonal trends.

Pork

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Bellies and butts are seeing support because of the short harvest week tightening up availability.  Hams moved lower as extra inventory for hams is forcing the market lower 

Poultry

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Outside forces, like weather and Covid, are affecting fresh chicken this week. Wings and tenders are becoming more available as while the random breast market is facing supply constraints.  

Seafood

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Inflation prices are hurting the sector as 85% of the seafood in the US is imported.  Atlantic salmon inventories are rising while most of the tilapia being harvested are small.