CommodityOne Weekly Market Reports

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Produce

As a result of adverse weather conditions, the transition of seasonal commodities, and the recent Easter holiday observance, there has been a decrease in production across different commodities. Consequently, there has been an increase in the overall market prices of specific commodities. The transition from Yuma to Huron/Salinas for carton commodities is ongoing in California and Arizona. Processed items are scheduled to begin in Salinas either on the 15th or the 21st, depending on the shipper.

Grains

In its planting intentions report, the USDA declared a decrease in corn acres and an increase in bean acres. The market rebounded for both beans and corn. Trade in soybean oil was erratic, but overall the week witnessed little change in canola. Palm is still on the rise.

Dairy

The markets for shell eggs are all flat, and demand is declining. Northwest and California markets remain stagnant. A farm in Texas and Michigan has tested positive for HPAI, and the initial estimate of loss is 1.9 million birds, including pullets. Based on the need for exports, the Block & Barrel is getting smaller. Butter continues to rise in demand. It’s desirable to have unsalted butter.

Beef

The market has slowed as April approaches, and packers are still attempting to hold back harvest. Overall, ribs stay constant, but top butts and strips get progressively higher. It seems that end cuts are at their limit. Though the current price support for grinds is beginning to show cracks, the limited harvest still supports thin meats.

Pork

B/I Butts are rising. Since there has been some downturn in the boneless industry, boneless butt sales are declining. The market for ribs is predicted to continue rising since supply is anticipated to become more limited throughout the warmer months. As retail demand for loins rises, loin prices are also rising. Bellies are still getting smaller.

Poultry

Demand for breasts has begun to decline, and prices may have reached a plateau. It’s still difficult to find wings in the market. There is a high demand for tenders, yet they are still the hardest to locate offering. The desire for dark meat is still high. The majority of whole birds are balanced.

Seafood

The Pacific Halibut season has begun, and while whole fish prices are now higher, it is anticipated that they will decrease over the next few weeks. The supply of lobster in the North Atlantic is still decreasing, and prices are rising. Due to increased supply, warm water lobster prices have remained stable and have not grown as anticipated.

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Produce

We continue to experience shortfalls on several winter veg items out of Mexico and Florida due to the impacts of El Niño with the shortest item being color pepper. Pro-rates and further price escalations may happen on these items this week as supply gets critically low. The hot pepper market is shorter this week with low volume and moderate demand continuing to put upward pressure on pricing. We will see a dip in production on the entire tomato category as transition from winter to spring crops get underway. Improvement on supply not expected for 2-3 weeks and concerns over the water restrictions are making shortages a possibility. Overall, the current supply remains at record lows until we see some consistency in weather, this will only continue to hamper a recovery.

Grains

Last week, soybean oil saw another increase as fund traders resumed purchasing contracts rather than disposing of them. This week’s plating intentions report is expected, and some acres are predicted to shift from corn to soybeans. In Europe, palm stabilized with a short-term balance, while canola rose upward with fewer planted acres.

Dairy

Despite a decrease in the total amount of shell eggs in stock, all shell egg markets are rising. The markets in California and the Northwest are stagnant, but with Easter, they might rise. Based on export, the Block decreases and the Barrel is increases. Although butter doesn’t rise, it can due to variations in milk production and the demand for cream.

Beef

The supply and demand are still matching. While strips and tenders continue to rise because to increased demand and limited supply, ribs remain stable. Chuck should make corrections in the following weeks, but it looks like end cuts have reached a ceiling as insides. In the short run, thin meats and grinds are experiencing the most artificial assistance due to restricted harvest.

Pork

The butts of B/I are rising. Since there has been some downturn in the boneless industry, boneless butt sales are declining. The market for ribs is predicted to continue rising since supply is anticipated to become more limited throughout the warmer months. As retail demand for loins rises, loin prices are also rising. Bellies continue to go down.

Poultry

Bird mortality, hatchability, and weights are limiting product availability and driving up costs. There is a high demand and limited supply for breasts. It’s still difficult to find wings in the market. There is a high demand for tenders and no excess supply. The desire for dark meat is still high. Whole birds, still mostly balanced.

Seafood

The Pacific Halibut season has begun, and while whole fish prices are now higher, it is anticipated that they will decrease over the next few weeks. The supply of lobster in the North Atlantic is still decreasing, and prices are rising. Due to increased supply, warm water lobster prices have remained stable and have not grown as anticipated.

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Produce

Continued adverse weather conditions across various growing regions have caused a considerable drop in overall yields and an uptick in quality problems and bloom loss. Thankfully, several regions are expected to experience better weather in the upcoming weeks, which will likely improve the situation in multiple markets. We are less than a month away from the beginning of the leafy green transition, heading back to the Salinas Valley. Historically, we have seen higher markets and increased quality issues during this time. The weather has taken its toll on most commodities in Yuma, and the market has risen considerably.

Grains

A notable rise in soybean oil prices last week. A significant increase in palm oil and some fund buying contracts contributed to the rise in soybean oil. The largest market input is the greater move from palm due to lower production and dropping stocks, even if soybean oil and canola supplies are both good.

Dairy

Markets for shell eggs are rising everywhere, even in the Northwest and California. Block and barrel sales are declining. Butter is still up.

Beef

The state of market demand is still quite poor. Packers continue to provide higher upfront quotes despite abundant supply. While strips are still rising due to seasonal demand and limited supply, ribs and tenders are staying rather stable. End cuts are still going strong, but inside rounds are getting closer to the ceiling. The supply of thin meats and grinds is experiencing some artificial support due to poor harvest.

Pork

The demand for butts is still high, thus they are still moving upward. Demand for ribs has also soared. Following a period of low market activity, loins are currently rising and are predicted to follow the trend of butts. Next week, bellies will rise along with all the other primals, but this market will continue to be unstable every week.

Poultry

Bird mortality, hatchability, and weights are limiting product availability and driving up costs. The availability of breasts is limited and demand is strong. It’s still difficult to find wings in the market. There are very few tenders available in the market. The desire for dark meat is still high. The majority of whole birds are balanced.

Seafood

Seafood: The Pacific Halibut season has begun, and while whole fish prices are now higher, it is anticipated that they will decrease over the next few weeks. The supply of lobster in the North Atlantic is still decreasing, and prices are rising. Due to increased supply, warm water lobster prices have remained stable and have not grown as anticipated.

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Produce

Due to challenging weather conditions, various regions like Arizona, California, Florida, Honduras, and Mexico are facing a decline in crop yields, coupled with quality issues and bloom loss. The move from Yuma, AZ, to Salinas Valley, CA, will be completed a few weeks from now. During this time markets are expected to remain higher. The desert growing regions have experienced ongoing market volatility due to recent weather-related challenges, resulting in fluctuating prices for many items. Furthermore, there has been a noticeable decrease in yields and weights.

Grains

While palm oil saw a significant boost due to strong demand and lower production values, soybean oil went up due to declining crop forecasts in South America. Canola is following soy and palm in popularity.

Dairy

Except for the medium and California/Northwest regions, all shell egg markets are flat. Block and barrel sales are declining. Butter is growing.

Beef

The majority of the present demand can be met by supply, therefore packers are hopeful. Buyers are still on the cautious side and prioritize their urgent needs. While strips continue to surprise with stronger pricing, middle meats remain stable. End cuts are still popular, particularly within rounds where they are supported by the requirement for lean trim.

Pork

The rise in boneless butts was mostly caused by higher exports but B/I butts are flat. Although they are predicted to trade sideways until late March, ribs are also expected to move up next week. With the weather getting warmer, strap on loins are moving down and strap off loins are predicted to move up. The complex as a whole should also start to move higher. Once more, bellies are erratic, and they will drop over the coming week.

Poultry

Bird mortality, hatchability, and weights are limiting product availability and driving up costs. The supply of breasts has decreased. In the market, wings are still tight. There is a limited supply of tenders. The desire for dark meat is still high. The majority of whole birds are balanced.

Seafood

The season of Lent is now upon us. Due to the difficult season, there is a limited supply of lobster tails. The Dungeness crab season is well underway, as seen by the vendors’ fresh stock. This year, live crawfish costs will be high and supplies will be limited. Please think about switching to frozen crawfish.

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Produce

Multiple growing regions, including Arizona, California, Florida, Honduras, and Mexico, continue to experience adverse weather conditions. As a result, there has been a notable decrease in crop yields overall, accompanied by an increase in quality problems and bloom loss. In a few weeks, we are nearing the transition from Yuma, AZ, to Salinas Valley, CA. This particular period has historically seen higher market prices and increased worries about product quality.

Grains

Soybean oil had a better start to the week but ended it with bigger inventories and less demand for biofuel. Recent weeks have seen an increase in canola prices, primarily as a result of technical trading and robust demand for biofuels. Palm grew as production decreased.

Dairy

The markets for shell eggs are declining throughout the Northwest and California. Block and barrel prices are rising. Butter is now flat.

Beef

The market is still stable and there is plenty of supply. Customers are still on the cautious side and prioritize their urgent demands. Middle meats stay consistent. End cuts continue to be intriguing and effective. Packers are finding support on thin meats and grinds due to a restricted yield. Limited supplies rather than high demand is the driving force.

Pork

Again, butts are rising, with B/I butts rising far higher than Boneless butts. The demand for B/I butts is substantially more than expected. Since more people are placing orders for ribs, the price of ribs has also increased. Boneless loins have lowered a little. Given that the market is flat for the upcoming week, bellies may have stabilized. As demand and exports increase, ham sales are as anticipated.

Poultry

Bird mortality, hatchability, and weights are limiting product availability and driving up costs. The supply of breasts has decreased. In the market, wings are still tight. There is a limited supply of tenders. The desire for dark meat is still high. The majority of whole birds are balanced.

Seafood

Lent is now in full force. Due to the difficult season, there is a limited supply of lobster tails. The Dungeness crab season is well underway, as seen by the vendors’ fresh stock. This year, live crawfish costs will be high and supplies will be limited. Please think about switching to frozen crawfish for a substitute.

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Produce

Adverse weather conditions persisting in different growing regions have resulted in a significant decline in overall crop yields and an increase in quality issues and bloom loss. Moreover, we are approaching the transition from Yuma, AZ to Salinas Valley, CA in a few weeks, a period that has historically witnessed elevated market prices and heightened quality concerns. California is currently experiencing another round of storms, with additional rainfall expected in the central growing regions. While these rains won’t immediately impact vegetable production, the effects will be seen as the transition from Yuma to Salinas occurs. Growers have been dealing with quality defects that can affect yields and weights but are working hard to address these issues in the fields.

Grains

Last week, the market for soybean oil fell by about 3.5% as speculative speculators kept selling. With some increased exports and China pulling back after the Lunar New Year celebrations, palm oil saw little change. Canola saw significant speculative selling but finished largely unchanged despite its volatility.

Dairy

The markets for shell eggs are declining throughout the Northwest and California. Block size is getting smaller. Barrel is becoming bigger. Butter is still up.

Beef

Chucks are still steady. Rounds are getting stronger, and buyers appear to be entering the market more quickly. Sel/No Roll grade and light ribs in particular have produced a little strength in the ribs and tenders. Strips are still scarce and getting stronger. For the near future, grinds are combined from packer to packer.

Pork

Butts are still in high demand, thus they are continuing to rise. Strengthening of the ribs is still evident. Within the next week, this is anticipated to fall off. Loins are moving in line with the usual seasonal trend, notwithstanding the slowdown in retail demand. Although the market is still erratic, bellies are heading downward for the upcoming week. As predicted, ham sales are rising due to robust exports and rising consumer demand.

Poultry

Prices are rising across the board, following the same pattern that has been evident over the past month. All sizes of breasts had significant price hikes. Wings of all sizes continue to rise in popularity due to high demand. There is a persistent rise in tenders. The birds as a whole were marginally smaller. Dark is still up.

Seafood

The season of Lent is now upon us. Due to the difficult season, there is a limited supply of lobster tails. The Dungeness crab season is well underway, and new stock is already available from vendors. This year, crawfish prices will be high and supplies will be limited.

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Produce

Continued adverse weather conditions across various growing regions have caused a considerable drop in overall yields and an uptick in quality problems and bloom loss. Thankfully, several regions are expected to experience better weather in the upcoming weeks, which will likely improve the situation in multiple markets. We are less than a month away from the beginning of the leafy green transition, heading back to the Salinas Valley. Historically, we have seen higher markets and increased quality issues during this time. The weather has taken its toll on most commodities in Yuma, and the market has risen considerably. Growers see lighter weights as harvest crews mitigate epidermal peels and blisters. The markets have reacted due to the industry experiencing decreased yields and increased demand.

Grains

Although trading was down for the majority of the week, soybean oil finished the day down only around ½ percent. However, the market remains mostly negative. Canola fell along with soy, and supplies are good due to decreased exports and lower-than-anticipated demand for biofuel. Palm is higher when exports rise and production declines.

Dairy

Shell egg markets are rising, with the exception of the Northwest and flat mediums. Eggs from California are declining. Block is going down and barrel is going up in cheese. Cream is plentiful, and butter is low.

Beef

Packers keep cutting crop in order to control inventories and boost profits. For the time being, buyers remain calculating and live hand to mouth. As consumers search for deals on value cuts, chucks and rounds maintain their appeal due to their firmness in the ends. Since tenders and ribs have the most dollar exposure, buying has slowed and pricing discovery has been constrained.

Pork

The market for butts is still very active and moves against the seasonal trend. Spareribs and backribs are still in demand, although this market is likely to experience a downturn before rebounding. This time of year, low demand for boneless loins is to be expected, hence prices are dropping. Bellies remains a highly unstable market. For the next few weeks, there should be significant volatility.

Poultry

The market for chicken is expanding overall, with some products enjoying HUGE increases. Breasts increased in all sizes, with jumbo and medium sizes seeing the biggest price increases. Wings of all sizes continue to rise in popularity due to high demand. There is a persistent rise in tenders. Last week, whole birds were somewhat higher. Thighs were elevated.

Seafood

Lent is now here. Due to the difficult season, there is a limited supply of lobster tails. The Dungeness crab season is well underway, and new stock is already available from retailers. This year, crawfish prices will be high and supplies will be limited.

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Produce

The persistent unfavorable weather conditions in different growing regions have led to a decrease in overall yields and an increase in quality issues and bloom loss. Consequently, market prices have remained higher and are anticipated to stay at this level for the upcoming weeks. The weather patterns continue to challenge quality and harvesting crews out of the desert growing regions of Arizona and California.

Grains

Last week, oil consumers took advantage of the lower markets and invested in soybean oil, which caused the markets to rise. Canola oil is flat since there is a good supply and soft exports of seeds. Palm is likewise flat; nevertheless, although we have been anticipating some supply problems due to their weather, nothing significant has happened as of yet.

Dairy

Eggshell markets are rising, with the exception of the Northwest and flat mediums. Eggs from California are declining. Barrels are growing while blocks are shrinking. Butter remains down.

Beef

Rounds and chucks stay constant as long as supplies are traded. The lighter tones of ribs continue to warn purchasers. Strips show a mixed reflection because of product pockets, with CAB showing the greatest strength. Overall, tenders are still soft; the only grade that shows strength is Sel. As supply increase, grinds are topping out and should correct in the coming weeks.

Pork

Demand for butts is still high, but it should level down in the coming week or two. Bellies are dropping following a brief spike brought on by buy-ins that have since decreased. Although spareribs and backribs saw another increase in price, the market is expected to decline over the coming weeks

Poultry

The increased demand for wings and tenders has persisted even after the Super Bowl. The supply of breasts in greater sizes has somewhat decreased. The market is still thriving for dark meat. Mostly balanced whole birds.

Seafood

Lent has begun. The season has been difficult for lobster tails, and there is a limited quantity. All sizes of cold-water lobster tails are seeing price increases due to difficult inventory circumstances. The Dungeness crab season is well underway, and new stock is already available from vendors.

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Produce

The decline in overall yields and the rise in quality issues can be attributed to the persistent adverse weather conditions experienced in various growing regions. As a result, market prices have remained elevated and are expected to continue at this level for the next few weeks. There is no rain in the forecast for the remainder of the week, but muddy fields will slow packing with minor delays at loading. We have seen freezing temperatures, rain, and heat. That culmination can damper the quality, and we are seeing blisters, peeling, and some pinking in lettuce/leafy items. Growers have been working hard to keep quality and weights consistent through these challenges.

Grains

Last week’s soybean oil futures saw a strong start before declining at the end of the week. Although the higher rise was caused by rising energy markets, soybean futures were kept in control by the overall strong supply of beans and other commodities. Canola is flat, whereas palm has increased due to production problems and Chinese demand.

Dairy

With the exception of Northwest California, where shell egg prices are flat. Cheeses from Block & Barrel are getting better. Butter is still up.

Beef

Packers are attempting to increase replacement cost by paying extra for cattle last week. Chucks and bullets stay consistent. Buyers should use caution as ribs remain in corrective mode. Strips are also steady, with premiums carried by CAB and Sel. Overall, tenders are still soft. As supply increase, grinds are topping out and should correct in the coming weeks.

Pork

A small increase in butts was caused by more upfront purchases. The market for ribs showed considerable growth as well, particularly for backribs and spareribs. Demand is steady and loins are staying basically stable. Bellies moved down this week and are still erratic.

Poultry

Wings were the star of the market, and they were harder to get due to the Super Bowl. The availability of breasts in all sizes has improved. There are fewer and fewer tenders available. The desire for dark meat is still high. The majority of whole birds are balanced.

Seafood

The market for imported shrimp is beginning to solidify, and as Lent approaches, price increases are anticipated. In California, the Dungeness crab season began last week, and vendors will be receiving new stock from the upcoming season. Expect discounts on products from the previous season. The domestic crawfish stock has been wiped out by this summer’s dry weather.

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Produce

The western region of the United States is still experiencing significant rainfall. This, combined with consistently unfavorable weather conditions in Mexico and the Eastern United States, has led to continued decreased crop yields and higher-than usual markets. The overall leafy green markets continue to remain relatively steady. However, we will see delays in harvesting in Yuma from the rainy weather. We should expect to see a limited degree of weather-related issues for about another week. Harvest crews are working diligently to put up a good, usable pack. Production blocks are on a regular harvest schedule. However, we could see some lighter supplies as yields drop due to selection.

Grains

Last week’s soybean oil futures saw a strong start before declining at the end of the week. Although the higher rise was caused by rising energy markets, soybean futures were kept in control by the overall strong supply of beans and other commodities. Canola is flat, whereas palm has increased due to production problems and Chinese demand.

Dairy

This week, shell egg marketplaces are booming. Block is growing while the barrel market is contracting, butter is still up. Prices for January Cream and Culture will be lower as a result of such market modifications.

Beef

The market for beef has remained robust as long as people keep buying it. As retail beef sales volume starts to drop and prices continue to rise, the beef industry is witnessing a little decline in demand.

Pork

Butts are continuing to drop as expected; this trend should continue for a few more weeks. As long as rib stays stable, sideways trading is expected to persist for the foreseeable future. Similar to butts, loins are fashionable at the moment. Due to the strong demand and typical seasonal trends, bellies are still increasing.

Poultry

The demand for chicken is still growing. The availability of breasts in all sizes has improved. There are fewer and fewer tenders available. It’s wing season, so demand for wings of all sizes is rising. The desire for dark meat is still high. The majority of whole birds are balanced.

Seafood

The market for imported shrimp is beginning to solidify, and as Lent approaches, price increases are anticipated. In California, the Dungeness crab season began last week, and vendors will be receiving new stock from the upcoming season. Get a few deals on products from the previous season. The domestic crawfish stock has been wiped out by this summer’s dry weather.