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Produce
Tropical Storm Debby and unfavorable weather conditions in Mexico and Guatemala are impacting various commodities, resulting in expected prolonged high market prices and possible supply shortages. The temperatures in Salinas are finally beginning to drop, which is aiding in the moderation of growth rates. The growers have managed the heat effectively, and we have navigated the heat wave with minimal significant problems.
Grains
The soybean oil market finished higher last Friday, but the weekly average was down about 2%. The soybean market fell as the upcoming WASDE report is expected to report thirty-five million more bushels. Canola moved higher, likely due to the possible Canadian rail strike. Palm was flat for the week.
Dairy
Shell egg markets are up this week. California and Northwest markets are up except Mediums are down. The Block is increasing & Barrel decreasing. Butter is flat.
Beef
The market has been impacted by back–to–school expenses and continued consumer budget restraints for entertainment. Middle meats inventories continue in just enough supply to keep price peaks & valleys from establishing. The chuck and round complexes continue to perform well overall. Grinds continue steady and packers look toward Labor Day.
Pork
Butts market continue to decline. Bone–in and boneless materials have seen a bit of support for Labor Day. Loins are sideways as retail demand is up. Ribs are down again this week, supply is static, and demand continues to be soft post July. Bellies are on the rise. Trim shows limited trade activity as availability is described as tight on the spot market.
Poultry
Wings have excess supply in the up on the open market for now. Tenders continue to be mostly steady. Jumbo breasts are seeing increased demand as further processors a bolstered demand. Medium and small breasts have steadied. Dark meat demand remains very good. Whole birds are mostly balanced.
Seafood
As markets have firmed up on groundfish items. The prices of imported, farm-raised, white, and black tiger shrimp are gaining strength and firming depending upon sizes due to rising shipping costs, delays in shipment arrivals, and shortages of shipping containers to load the products.
