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Produce
Tropical Storm Debby and adverse weather conditions in Mexico and Guatemala are affecting multiple commodities, leading to anticipated extended high market prices and potential supply shortages. The weather conditions in Salinas are favorable, and although a few commodities are experiencing challenges, we are observing consistent supplies and quality.
Grains
Soybean oil futures continued lower last week. US beans and South American beans are parity for pricing, so they are very competitive. Despite the much lower price, soybean oil stocks are tight as biodiesel producers are buying it up. Canada is about to have a rail strike causing problems for Canola. Palm oil has remained flat.
Dairy
Shell egg markets are up this week. California and Northwest markets are up. The Block & Barrel are increasing. Butter is up.
Beef
The market continues to be uneventful. Middle meat inventories continue to be mixed, w/ PRIME & upper 2/3 limited by smaller harvest, while choice grade continues to build. The chuck and round complexes continue to perform well overall. Inside round are starting to slow. Grinds continue steady and packers look toward Labor Day demand for a lift at the end of month.
Pork
Butts market is unsettled. Bone-in and boneless materials are expected to continue to trade at current levels. Loins are steady. Ribs are down again this week, supply is static, and demand continues to be soft post July. Bellies are unsettled. Trim softened up on the week after the last few weeks of rising markets- 42’s are up, 72’s are down on the week.
Poultry
Wings demand has begun to pick up as we near football season. Tenders continue to be mostly steady. Jumbo breasts are seeing increased demand as further processors continue to pull heavy. Small breasts continue to stay steady. Dark meat demand remains very good. Whole birds are mostly balanced.
Seafood
Shrimp prices are gaining strength; the Alaska Gold King Crab season has kicked off while the Red King Crab season remains closed. Lakefish is now transitioning to a mix of fresh and refreshed products available due to warming trends in the lakes.
