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Produce
Adverse weather conditions in different growing areas such as Florida, Mexico, and California have significantly impacted various commodities, resulting in lower yields and ultimately driving up market prices. Additionally, some markets saw a slight increase due to the increased demand from Mother’s Day.
Grains
Selling of soybean oil futures, good South American harvest, shrinking biofuel demand, good soybean oil stocks, and good U.S. planting progress all helped push soybean oil lower last week which dragged palm oil down and Canola, too.
Dairy
Shell egg markets are all down and demand has softened. The Block & Barrel are increasing and steady. Milk availability has tightened. Butter is up. Domestic butter demand is steady from retail and food service sectors. However, for unsalted butter loads, demand is stronger. Cream volumes are comfortable across the nation.
Beef
Continued over production by packers has stifled long–term increases. Ribs, strips, and tenders are steady as the week progresses and currently do not point to a run higher to end the week. End cuts, insides, and chucks, continue coming under pressure from buyer bids. Grind demand continues to improve and with holidays and grilling season ahead, the outlook is good.
Pork
Butts continue to rise as domestic and export demand is strong. Ribs saw some decreases but are expected to be short lived as the holiday approaches. Boneless loins will continue to rise due to strong export demand. Bellies declined this week the market remains volatile. Trimmings are moving up due to the strong demand.
Poultry
Breast demand is high on all sizes and excess supply is non–existent. Wings demand continues to strengthen. Tenders demand is very strong and tenders remain the hardest offering to find. Dark meat demand remains very good. Whole birds are mostly balanced.
Seafood
Markets are steady week–over–week. Seafood sector is gearing up for big holidays going into summer and operators are revamping summer menus.
