Freshly Picked, January 21, 2025

Freshly Picked Insights

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Produce

Avocado prices climbed 14.5% w/w, hitting a 20-week high with more increases expected through February. Meanwhile, roma tomatoes continued their seasonal price drop, falling another 16.4% last week.

 

Grains

Wheat prices inched up 1.5% w/w following USDA balance sheet updates. The ongoing Black Sea weather risks could tighten global wheat supplies, possibly benefiting U.S. producers.

 

Dairy

Dairy prices softened as butter and cheese production remained steady with ample supply. CME spot butter fell $0.06 w/w to $2.54/lb, while retail cheese advertisements dropped for the third consecutive week.

 

Beef

Beef prices continue climbing, with ground beef up 32% over the past month and choice cuts seeing steady increases. The rib and round segments saw mixed movements, but consumer demand for ground products keeps pushing prices higher.

 

Pork

Ham prices rose 2% w/w as Easter preparations began, while ribs and loins saw modest increases. Bellies and trim prices softened slightly but remain a key contributor to the overall pork cutout value.

 

Poultry

Chicken demand remains strong as retailers promote cost-effective protein. Chicken breast sales surged last week, while tenderloins held steady. Turkey breast prices jumped 13.4% w/w due to higher deli promotions, and retail chicken features remain promising.

 

Seafood

Frozen cod prices eased last month after months of overinflated values, supported by declining import volumes. However, prices could rise again after April when volumes typically hit their lows.