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Produce
Hurricane Helene, unfavorable weather patterns across the U.S., Mexico, and Guatemala, port delays, and insect pressure in California are affecting multiple commodities. These issues have led to continued higher market prices and lower overall yields.
Grains
Soybean oil futures traded higher last week with concerns of dry South American weather ahead of their planting. Crude oil moved higher, Canola, was higher, and palm oil were higher, too. There is also a strike looming by the Longshoreman which will disrupt imports and exports for all agricultural products.
Dairy
Shell egg markets are down this week. California and Northwest markets are flat. The Block & Barrel are decreasing. Butter is down. Market participants are closely monitoring the potential impacts of Hurricane Helene and port strikes along the U.S. East and Gulf Coasts.
Beef
The SE Region demand is being impacted by hurricane Helene. Ribs continue to trade steady. Strips also are trading steady, while top butts are showing weakness. Tenderloins are steady but for how long? Chuck and round complexes are diverging; chuck rolls continue to show strength, while the round complex is adjusting lower. Grinds continue to offer opportunity to buyers.
Pork
Butts both Bone–in and boneless are trading near established price levels. Loins are barely steady–as chop demand has decreased. Ribs are steady. Bellies are steady and market has settled. Trim is steady to higher for supply.
Poultry
Bigger birds, better hatchability, and larger egg sets are allowing extra supply on the market, especially in the boneless market. Tenders and breasts are seeing increased supply on all sizes. Wings are seeing extra availability on all sizes. Dark meat demand remains very good. Whole birds are mostly balanced.
Seafood
Port Strike on the East and Gulf coast began Tuesday of this week. The impact is being assessed in the seafood sector, but the depth of the effects will be dynamic pending the length of the strike.
