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Produce
Tropical Storm Debby and unfavorable weather conditions in Mexico and Guatemala are impacting various commodities, resulting in expected prolonged elevated market prices and possible supply shortages. From the Salinas Valley, we are observing consistent supplies and quality across most products, although there are some exceptions.
Grains
Soybean oil futures moved a little higher last week. Increased biodiesel demand, higher energy costs, and some tightness in soybean oil supply (mostly due to higher biodiesel demand). The Canadian rail strike had begun, was ended, began again, and ended, so for now, Canola is flowing.
Dairy
Shell egg markets are up this week. California and Northwest markets are down except for Medium which is up. The strong demand from both retail and foodservice outlets emphasizes the widespread need for eggs across the market. The Block & Barrel are increasing. EU cheese/ whey looks undervalued relative to butter/SMP.
Beef
Heading into a holiday, supply levels are ample. Ribs and tenders are attracting interest, leading to packers raising or holding price offerings. Loin and top sirloin, pricing continues to be softer. The chuck and round complexes continue to perform well. Grinds continue limited and packers have moved pricing slightly higher.
Pork
Butts are steady with moderate pulled pork demand. Bone-in and boneless materials have seen a bit of support for Labor Day. Loins are steady–domestic buying has slowed, however export channels are strong. Ribs are mostly steady. A softer tone was present in bellies this week as supply is up and bacon processing has slowed down. Trim markets have softened, supply is more steady.
Poultry
Wings demand has begun to pick up as we near football season. Tenders continue to be mostly steady. Jumbo and medium 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.
