CommodityOne Weekly Market Reports

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Produce

The western US has experienced substantial rainfall, which, when coupled with persistently unfavorable weather conditions in Mexico and the Eastern US, has resulted in reduced yields and a sudden surge in the overall markets. Apart from very cold temperatures in the desert growing regions of Southern California and Western Arizona (Yuma), these regions encountered more than an inch of precipitation. As a result, growers were unable to package any goods on Tuesday and Wednesday of this week due to the muddy terrain. Although the rain has ceased, shippers are still grappling with exceedingly muddy fields, impeding the packing process and causing delays in load times. Temperatures are anticipated to heat up in the upcoming week. This will definitely put stress on the commodities. Harvest levels are tracking similarly to last week, and with current U.S. inventories sitting at a high level, the market is expected to remain steady into the Super Bowl.

Grains

As crude oil moved flat to higher and bean oil moved lower, soybean oil separated from energy. The weather in South America has improved for the soybean crop, the US dollar is stronger, and stocks are up. Higher prices are possible since there are insufficient supplies of soybean oil. Canola markets are steady, whereas palm markets are erratic.

Dairy

The Northwest’s shell egg markets are up this week, while all other markets are down. Block markets are shrinking and barrels are rising. It’s butter time. Prices for January Cream and Culture will be lower as a result of such market modifications.

Beef

Softer tones are beginning to appear in middle meat prices. Ribs and tenderloins are essential commodities to keep selling out, although strips will still be in demand in early 2024 because of their favorable price spread. Rounds and Chucks seem to be exchanging consistently. Because of their limited harvest, grinds are in limited availability.

Pork

Next week, butts moved up once more. This market should continue to be robust due to decreased harvest numbers and strong demand. The price trend for ribs is firmer than anticipated; this is also a result of lower harvest levels. Due to strong retail and export demand, the loin market is still performing better than anticipated. Bellies are still erratic and have increased this week.

Poultry

Because of the limited production period after the holidays, overall supply is tighter. The supply of breasts has decreased. Tenders are becoming less available. The demand for wings has increased, making them more difficult to locate. The market for dark meat is still strong. The demand for whole birds is rising.

Seafood

On December 22, 2023, a new regulation on the origin restriction of seafood raw materials was announced. We’re taking a proactive approach with all suppliers to ensure continued adequate supply. The season is now in full swing in the big lakes with initially strong catches.

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Produce

The markets have sustained their upward trajectory as a result of a confluence of heightened domestic demand and reduced yields stemming from unfavorable weather conditions across various cultivation areas. It is projected that this pattern will endure until the month of January. The desert growing regions of Southern California and Western Arizona (Yuma) have experienced cold weather over the last two weeks, with several hours of field freeze in the early morning hours. Nighttime temperatures have risen slightly, with only traces of frost in the fields at this time, but due to the cold temperatures, expect to see the effects of the freezing temperatures in all items shipping from these growing areas. Supplies out of these regions remain steady, but markets have increased slightly.

Grains

The soybean oil market is moving sideways because there isn’t any meaningful market news. The market may rise swiftly if the big funds reverse their short positions, which they currently hold. Canola seed is weak and canola oil is flat. Due to a decrease in available stockpiles and a rise in exports, palm climbed marginally higher.

Dairy

This week, shell egg marketplaces are booming. Markets for barrels and blocks are expanding. It’s butter time. Prices for January Cream and Culture will be lower as a result of such market modifications.

Beef

This market has increased as a result of the first winter storm. Rounds and chucks are in style. This week has seen a 180° turn in the appreciation of ribs and strips, which began last week. In the best-case scenario, tenderloins will maintain the present market pricing and follow suit. Due to the restricted crop, grinds are still in short supply; gains are observed on 80’s and source grinds.

Pork

It appears that butts have peaked and should start to decline. Large cold storage inventories are also contributing to the downward trend in rib prices. Be prepared to give in this market. Because there is little demand, boneless loins are likewise continuing to decline. Bellies are expected to gain strength over the month after showing modest support the previous week.

Poultry

Because of MLK Day and the cold conditions in the South that halted production, there is a shortage of goods overall. The availability of breasts in all sizes has decreased. Tenders are becoming less available. Demand for wings of all sizes has increased due to the NFL Playoffs, and production has decreased. The market for dark meat is still strong.

Seafood

On 12/22/23, an executive order was announced concerning the limitations on the provenance of seafood raw materials. Proactively, we are collaborating with suppliers to guarantee the availability of impacted commodities. Great Lakes whitefish season begins with some good catches. In the upcoming months, shortages of lobster tails from the North Atlantic are anticipated.

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Produce

The markets have remained higher due to a combination of increased national demand and lower yields caused by adverse weather in multiple growing regions. It is anticipated that this trend will persist until January. The desert growing regions of Southern California and Western Arizona (Yuma) have been experiencing cold weather over the last week, with several hours of field freeze in the early morning hours. Expect delays in load times due to harvesting starting late due to the cold weather.

Grains

The market for soybean oil has stabilized. Crop conditions and weather in South America are getting better. Money has been transferred from commodities to stocks by funds. Canola is still in a steady state with favorable market circumstances generally and no history of problems with winter logistics. With a generally strong balance sheet, palm is lower. steady.

Dairy

This week, shell egg markets are completely closed. Block markets are growing while barrels are shrinking. It’s butter time. Prices for January Cream and Culture will be lower as a result of such market modifications.

Beef

Although top 2/3, select grade, and light weight specifications have leveled off due to limited boxes, middle beef pricing had begun to drop. The supply of tenderloins exceeds the demand, causing them to continue to decline. Strips are nevertheless valuable even in limited quantities. Rounds and Chucks are trading consistently. There is still a shortage of grinds because of the small yield.

Pork

It appears that butts have peaked and should start to decline. Large cold storage inventories are also contributing to the downward trend in rib prices. Be prepared to give in this market. Because there is little demand, boneless loins are likewise continuing to decline. Bellies are expected to gain strength over the month after showing modest support the previous week.

Poultry

Because of the limited production period after the holidays, overall supply is tighter. The availability of breasts in all sizes has decreased. There are fewer and fewer tenders available. The demand for wings has increased, making them more difficult to locate. The market for dark meat is still strong. Complete birds are balanced.

Seafood

On December 22, 2023, a new executive order pertaining to restrictions on the provenance of seafood raw materials was made public. To guarantee appropriate supply continuity for all impacted commodities, we are proactively collaborating with all suppliers. In the Great Lakes, whitefish season is well underway with some excellent catches thus far.

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Produce

Adverse weather conditions in several growing regions continue to play a pivotal role in lower supplies across several commodities, which have caused markets to remain higher and will likely remain through the end of January. In Yuma, temperatures have dropped this week, with much lower daytime and nighttime temps. With these lower temperatures, expect to see some frost in all desert-growing areas. Supplies have remained steady with some quality issues.

Grains

As crude oil moved flat to higher and bean oil moved lower, soybean oil separated from energy. The weather in South America has improved for the soybean crop, the US dollar is stronger, and stocks are up. Higher prices are possible since there are insufficient supplies of soybean oil. Canola markets are steady, whereas palm markets are erratic.

Dairy

The Northwest’s shell egg markets are up this week, while all other markets are down. Block markets are shrinking and barrels are rising. It’s butter time. Prices for January Cream and Culture will be lower as a result of such market modifications.

Beef

Softer tones are beginning to appear in middle meat prices. Ribs and tenderloins are essential commodities to keep selling out, although strips will still be in demand in early 2024 because of their favorable price spread. Rounds and Chucks seem to be exchanging consistently. Because of their limited harvest, grinds are in limited availability.

Pork

Next week, butts moved up once more. This market should continue to be robust due to decreased harvest numbers and strong demand. The price trend for ribs is firmer than anticipated; this is also a result of lower harvest levels. Due to strong retail and export demand, the loin market is still performing better than anticipated. Bellies are still erratic and have increased this week.

Poultry

Because of the limited production period after the holidays, overall supply is tighter. The supply of breasts has decreased. There are fewer and fewer tenders available. The demand for wings has increased, making them more difficult to locate. The market for dark meat is still strong. The demand for whole birds is rising.

Seafood

On December 22, 2023, a new executive order pertaining to restrictions on the provenance of seafood raw materials was made public. To guarantee appropriate supply continuity for all impacted commodities, we are proactively collaborating with all suppliers. In the Great Lakes, whitefish season is well underway with some excellent catches thus far.

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Produce

The southeastern U.S. and Mexico’s growing regions have been experiencing adverse weather conditions, leading to lower yields. Additionally, the heightened national demand during the holiday season is further contributing to the upward pressure on prices, which is expected to persist for the next 3-4 weeks. In Yuma, rain is in the forecast with an estimated rainfall amount of 1-3 inches last week. The amount of rain is not enough to damage the crops seriously but is enough to slow down harvesting, as excessive mud will make it hard for trucks and tractors to get through fields.

Grains

Biofuels and less demand caused last week’s movement in the energy markets downward. This contributed to the decline in the price of soybean oil. A portion of the drop in demand for biofuels was caused by increased use of Canola oil. With ample supply and decreased Chinese demand, palm oil prices remained stable.

Dairy

This week, shell egg markets are closed. Barrels are expanding slightly, while block markets are contracting. Time for butter. There will be some fluctuations in the cost of Cream and Culture in December.

Beef

Buyers’ attention is still focused on tenderloins and ribs due to the holiday. The price of middle-aged meat has been supported by demand. Shortloins and strips are nevertheless valuable, and increased trades have been supported by interest. Chucks and rounds keep getting softer as boxes begin to form and purchasers’ attention wanes. At best, grinds are constant and choppy since packers have different supplies.

Pork

Butts are seeing a little decline in the market after an unexpected increase last week. Given the relative flatness of boneless loins, sideways trading is to be anticipated in the upcoming weeks. Ribs are also exchanging sideways. Their bellies are shrinking quickly because they are still searching for the floor. Trimmings are likewise trading sideways, and demand is stable.

Poultry

During the height of the chicken industry’s growth season, larger birds with greater yields are the outcome. The breasts are beginning to contract. There is availability on tenders. Demand for wings of all sizes has somewhat decreased. The market for dark meat is still strong. The demand for whole birds is rising.

Seafood

The Texas Department of Parks & Wildlife has closed the Texas Gulf oyster beds, which will impact availability. Alaska Red King crab is available, albeit at a premium price. According to reports, Peru reopened its second anchovy season three days ago, although there is still a shortage. The market for shrimp imports is still struggling.

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Produce

The southeastern U.S. and Mexico’s growing regions have been experiencing adverse weather conditions, leading to lower yields. Additionally, the heightened national demand during the holiday season is further contributing to the upward pressure on prices, which is expected to persist for the next 3-4 weeks. In Yuma, rain is in the forecast with an estimated rainfall amount of 1-3 inches last week. The amount of rain is not enough to damage the crops seriously but is enough to slow down harvesting, as excessive mud will make it hard for trucks and tractors to get through fields.

Grains

Biofuels and less demand caused last week’s movement in the energy markets downward. This contributed to the decline in the price of soybean oil. A portion of the drop in demand for biofuels was caused by increased use of Canola oil. With ample supply and decreased Chinese demand, palm oil prices remained stable.

Dairy

This week, shell egg markets are closed. Barrels are expanding slightly, while block markets are contracting. Time for butter. There will be some fluctuations in the cost of Cream and Culture in December.

Beef

Buyers’ attention is still focused on tenderloins and ribs due to the holiday. The price of middle-aged meat has been supported by demand. Shortloins and strips are nevertheless valuable, and increased trades have been supported by interest. Chucks and rounds keep getting softer as boxes begin to form and purchasers’ attention wanes. At best, grinds are constant and choppy since packers have different supplies.

Pork

Butts are seeing a little decline in the market after an unexpected increase last week. Given the relative flatness of boneless loins, sideways trading is to be anticipated in the upcoming weeks. Ribs are also exchanging sideways. Their bellies are shrinking quickly because they are still searching for the floor. Trimmings are likewise trading sideways, and demand is stable.

Poultry

During the height of the chicken industry’s growth season, larger birds with greater yields are the outcome. The breasts are beginning to contract. There is availability on tenders. Demand for wings of all sizes has somewhat decreased. The market for dark meat is still strong. The demand for whole birds is rising.

Seafood

The Texas Department of Parks & Wildlife has closed the Texas Gulf oyster beds, which will impact availability. Alaska Red King crab is available, albeit at a premium price. According to reports, Peru reopened its second anchovy season three days ago, although there is still a shortage. The market for shrimp imports is still struggling.

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Produce

Colder temperatures out of the Southeast and Mexico growing regions and increased holiday demand have caused many markets to increase considerably, and higher prices are expected for the next several weeks. Volumes remain relatively steady out of the Yuma growing region. Growers have seen ice delays on lettuce over the past few days. The ice will likely cause blister and epidermal peeling. Growers mitigate this on the harvesting level to minimize the blister and peel. We could see decreased weights and yields in the coming weeks.

Grains

According to USDA data, the soybean oil market was down about 3% from the previous month. The need for biofuels has also decreased. Canola is steadily declining but is anticipated to rise. Due to rival vegetable oils, a decline in Chinese demand, and strong output, palm dropped down.

Dairy

This week’s markets for shell eggs are up. Markets for barrels and blocks are expanding. It’s butter time. The prices for Cream and Culture in December will fluctuate somewhat.

Beef

Overall, it seems that the market has settled into a stable tone. The near-term demand for middle-of-the-road beef prices is expected to persist throughout the year. Strips still have good tones and are reasonably priced. Chucks and rounds keep getting softer as the boxes begin to fill. The best way to characterize the grinds is choppy, and the supplies differ from packer to packer.

Pork

Next week, butts moved up once more. This market should continue to be robust due to decreased harvest numbers and strong demand. The pricing trend for ribs is firmer than anticipated. Through the end of the year, loins should continue to decline. Bellies are still erratic and are making yet another significant compromise. Anticipate further volatility in this market.

Poultry

There are still breasts available. Most tenders are accessible. Demand for wings of all sizes has somewhat decreased. The market for dark meat is still strong. The demand for whole birds is rising.

Seafood

The Texas Department of Parks & Wildlife has closed the Texas Gulf oyster beds, which will impact availability. Alaska Red King crab is available, albeit at a premium price. According to reports, Peru reopened its second anchovy season three days ago, although there is still a shortage. The market for shrimp imports is still struggling.

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Produce

The more favorable growing conditions combined with the lower demand after the holiday season helped most markets see a decline. However, demand is expected to pick up in the next two weeks and remain strong through the end of the year, which historically brings a slight uptick in markets. There have been minimal growing or harvesting disruptions in the Yuma, AZ, growing region. Supplies remain steady for most commodities. However, Broccolini supplies remain extremely limited and are expected to remain limited for the next 1-2 weeks. Demand has remained steady for all commodities.

Grains

Soybean oil prices declined last week as a result of an EPA court decision and a shortened trading period. Lower markets were helped by good rainfall in Brazil and a nearly full crop harvest in the United States. Although there was no movement in the canola oil market, canola seed futures saw a decrease. Concerns about El Nino and rising demand drove up palm prices.

Dairy

Markets for shell eggs are closed this week. The market for barrel and block is shrinking. It’s butter time. The price of Cream and Culture on the West Coast will go up in December.

Beef

Now that Thanksgiving week is passed, consumers are entirely fixated on ribs and tenderloins. Up to the end of the year, consumers ought to support middle-cut meats. Short loins and strips are still valuable, which has supported increased transactions. Rounds and chucks keep getting softer. The best way to characterize grinds is as choppy, and at most steady, depending on the packer.

Pork

In the marketplace, there is some support for pork butts. There has been considerable strength in this sector due to an increase in demand for upfront purchases. There are still decreases in every other market. Because of the poor retail demand, ribs and boneless loins are declining in popularity. Bellies are predicted to keep getting smaller as they look for the floor.

Poultry

During the height of the chicken industry’s growth season, larger birds with greater yields are the outcome. The breasts are beginning to contract. Tenders are available. Demand for wings of all sizes has somewhat decreased. The market for dark meat is still strong. The majority of whole birds are steady.

Seafood

Prices for Alaska Red King are steep, and supplies are scarce. According to reports, Peru only reopened its second anchovy season three days ago, yet there is still a shortage. Although the market for imported shrimp is currently at all-time lows, prices should soon start to rise again. With the holidays approaching, shellfish products should be used more frequently.

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Produce

Increased demand, growing region transitions, and weather effects continue to negatively impact supplies on many commodities and are expected to remain elevated over the next several weeks. The full transition to Yuma has been fairly smooth this year. There hasn’t been any disruption in the supply chain for most commodities. Broccolini supplies will be very limited for the next two weeks as growers expect a gap in supply due to lower-than-expected production as they finish the Salinas growing region and lower yields out of Mexico caused by weather issues.

Grains

Although the week’s average for futures was little down overall, it ended the week strongly. The market’s trajectory was not significantly impacted by the USDA WASDE report. The ongoing dry spell is slowing down agricultural growth in South America. Canola seed saw an increase after dropping to six-week lows. With worries about El Nino, palm is higher.

Dairy

This week’s markets for shell eggs are up. Block and barrel sales are declining. It’s butter time. The prices for November’s Cream and Culture will be higher.

Beef

Following two weeks of substantial harvests and a decrease in the overall cutout, packers have reduced their output. Chuck rolls and the grind complex are the main causes of the recent decline in the beef market. Beef interest is lukewarm this season. The upper 2/3 or CAB product is still in a well-sold position.

Pork

Even while there is some counter seasonal movement with butts, the demand for pork is still declining. Last week, we saw an upsurge in boneless butts and B/I along with some rekindled enthusiasm. Although currently trading sideways, ribs should start to move lower. Due of low demand, loins are declining. Bellies are also continuing to go downward.

Poultry

During the height of the chicken industry’s growth season, larger birds with greater yields are the outcome. The breasts are beginning to contract. There are open tenders. Demand for wings of all sizes has somewhat decreased. Demand for dark meat is still strong. Most birds as a whole are steady.

Seafood

According to reports, Peru reopened its second anchovy season three days ago, although there is still a shortage. Although the market for imported shrimp is currently at all-time lows, prices should soon start to rise again. The market for tilapia is plateauing following issues with inventory. As the holidays approach, clam products should see an increase in use.

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Produce

Increased demand, growing region transitions, and weather effects continue to negatively impact supplies on many commodities and are expected to remain elevated over the next several weeks. The Yuma transition is complete, but a few items are shipping from Salinas, and all value-added shippers have transitioned. Quality is expected to improve out of the desert region, but growers still see issues such as lighter weights, seeders, twist, and increased insect pressure.

Grains

: Last week, soybean oil prices declined further as dealers kept liquidating their holdings and purchasing soybean meal. Good demand is being experienced, and energies are beginning to rise. There is a strong market for biofuels, so expect some increased trading. The demand for canola seed is low for exports. Palm is flat to up with good availability and low demand.

Dairy

This week’s markets for shell eggs are up. Block and barrel sales are declining. It’s butter time. The prices for November’s Cream and Culture will be higher.

Beef

Following two weeks of substantial harvests and a decrease in the overall cutout, packers have reduced their output. Chuck rolls and the grind complex are the main causes of this week’s decline in the beef market. Beef interest is lukewarm this season as we approach the turkey-heavy Thanksgiving holiday. Throughout the animal, the upper 2/3 or CAB product is still in a well-sold position.

Pork

Even while there is some counter seasonal movement with butts, the demand for pork is still declining. Next week saw an upsurge in boneless butts and B/I along with some rekindled enthusiasm. Although currently trading sideways, ribs should start to move lower. Due of low demand, loins are declining. Bellies are also continuing to go downward.

Poultry

During the height of the chicken industry’s growth season, larger birds with greater yields are the outcome. The breasts are beginning to contract. There are open tenders. Demand for wings of all sizes has somewhat decreased. Demand for dark meat is still strong. Most birds as a whole are steady.

Seafood

According to reports, Peru reopened its second anchovy season three days ago, although there is still a shortage. Although the market for imported shrimp is currently at all-time lows, prices should soon start to rise again. The market for tilapia is plateauing following issues with inventory. As the holidays approach, clam products should see an increase in use.