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Produce

Lack of manpower, freight, and operational challenges continue to plague all aspects of the business, posing difficulties in the execution of the supply chain flow from harvest to shipping to reception.

Grains

As a result of the USDA report released last week indicating lower soybean oil supplies, the soybean oil market has risen. However, it is still trading in a range, and while the futures market is higher, the cash market is largely unchanged. Due to the drought, canola is in the early stages of harvest, with smaller seeds and thus less oil. The palm of the hand is higher.

Dairy

With milk shortages due to the return of schools, cheese markets have risen week after week. With a limited milk supply, butter markets have also grown week over week. With robust demand from retail and foodservice, all shell eggs climbed significantly week over week.

Beef

The availability of meat is now overshadowing price hikes, and the supply chain is once again dry due to back-to-back lower harvests. Overall market strength helped the entire beef complex, with nothing showing a price drop. Price increases were led by ribs, briskets, and chucks, which are all in hot demand for Labor Day advertisements.

Pork

Butts remain the best value buy when compared to other proteins, but they continue to trade sideways due to tight supplies and strong demand. Loins are following in the footsteps of butts, so anticipate the concessions to slow and the market to trade sideways. Although belly fat levels have dropped from recent highs, resources remain scarce.

Poultry

Whole birds are up. Breasts were raised. Tenders are higher due to increasing demand. Wings were flat, yet they were still in high demand. Boneless dark meat is in high demand, and prices are rising. Dark meat that hasn’t been boned is flat.

Seafood

Lobster tails from the North Atlantic (6.77 oz and up) are on allocation until at least December, when the Nova Scotia season begins. The new season’s warm water lobster tails have begun to arrive in the United States.
Lobster tails from the Portico brand will be available in a few weeks. Pasteurized crab flesh has a very low shelf life.

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Produce

Lack of manpower, freight, and operational issues continue to plague all parts of the industry, posing challenges in the supply chain flow from harvest to shipping to receiving.

Grains

This year’s Canola crop will be harmed by the hot and dry weather in Canada. Corn will suffer some losses in the United States as well. Soybeans are doing better, although soybean oil stocks are down; nonetheless, soybean oil was down a little last week. Following soybean oil, palm oil was also down.

Dairy

Natural cheese and mozzarella markets remained unchanged from week to week, but processed cheese markets fell. Butter prices remained unchanged from week to week. This week, extra large and big eggs have increased $0.02$0.03/dz, while medium eggs have increased $0.01/dz.

Beef

Prices are continuing to rise, while supply is decreasing. Finding product for the rib is now the primary priority; cost is a secondary consideration. Tenders and loin thin meats quickly rebound upwards due to decreased supply, benefiting the loin complex. With a mix of retail and export demand driving it, chucks and rounds are hard to come by and priced more.

Pork

Due to retail demand, bone in butts saw a little increase late last week and should now trade sideways. Loins are likewise trading in a sideways pattern. Spareribs are on their way back up due to increased demand and price cuts in recent weeks. Bellies appeared to have reached their peak and may be starting to decline, but fresh bellies are still in short supply.

Poultry

Labor shortages persist across the business, but supply for many commodities is improving. Wings are becoming more readily accessible at the moment, but demand is projected to increase as football season approaches. Tenders cost a lot of money and are hard to come by. Breasts are in high demand, and the market is rising upward.

Seafood

With the new season, the supply of brown shrimp and white shrimp has improved. Whites, browns, and peeled shrimp in certain sizes are still unavailable. The huge tails of North Atlantic lobster (56oz and greater) are on allocation until the start of the Nova Scotia lobster season in December. Crab meat that has been pasteurized is still in scarce supply.

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Produce

Lack of manpower, freight, and operational issues continue to plague all parts of the industry, posing challenges in the supply chain flow from harvest to shipping to receipt.

Grains

Soybean crop scores have improved with some excellent weather, allowing soybean oil to fall somewhat, while drought-stricken Canola growing regions will face crop losses. Demand from China and available supply pushed palm oil prices higher.

Dairy

Though production was higher, cheese markets climbed week over week. With ample supply, butter markets fell by $0.072/lb week over week. With solid demand and supply, extra big and giant eggs have declined $0.02$0.03/dz this week.

Beef

Pricing is growing higher, and supply is trending lower, as the recipe of little yield and higher demand continues to settle in. The rib complex is increasing and looks to be on the upswing in the next weeks. Due to limited availability and renewed interest at cheaper costs, the loin complex has firmed up as well, with tenders and most of the loin thin meats rebounding upwards.

Pork

Due to labor shortages, harvest numbers are continuing to decline. The price of all primal marketplaces is increasing. Butts have recovered following a three-week decline, and retail demand has increased. Due to market demand, loins are following in the footsteps of butts. As supply continues to be an issue, rib concessions have soon vanished. The size of our bellies is still increasing.

Poultry

Labor shortages persist across the business, but supply for many commodities is improving. Wings are becoming more readily accessible at the moment, but demand is projected to increase as football season approaches. Tenders cost a lot of money and are hard to come by. The breast market is essentially flat, with supplies in a variety of sizes.

Seafood

Due to a lack of labor to unload containers from ships, US ports are still experiencing delays, resulting in major imported seafood shortages. COVID has rendered Vietnam fully inaccessible. Pangasius and large shrimp may be affected. The cost of a container continues to rise.

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Produce

Large issues persist in all parts of the industry, including a shortage of steady labor and high freight prices, posing challenges in the supply chain flow from harvest to shipping to reception.

Grains

Last week, rainfall aided the decline in soybean oil. The soybean crop is looking well for the most part. While the market was flat, the price of canola is expected to rise as the current crop is being harmed by drought. Palm oil prices have risen as production has slowed.

Dairy

Week after week, the cheese markets began to drop. This week, the butter market was flat; nevertheless, it began to fall late last week. Except for Mediums decreasing $0.02/dz, there are no current changes in the shell egg market this week. For the month of August, the milk and cream markets will decline in most categories.

Beef

The market corrections continued to be gradual because to end user desire and back-to-back minor harvest weeks overlapping. The rib complex continues to be in short supply, and prices are rising. The loin sub-primal continues to struggle, with thin loin meats contributing to lower prices. Although chucks were lower, export interest helped to moderate the decline.

Pork

The market for pork butts is still declining, but it is projected to bottom out next week. Right now, B/I butts are regarded a good value buy; expect retail support to push this market higher. Fresh bellies are still in high demand, and supplies are limited. This market will continue to be strong. Even though the market is short on spareribs, prices will drop again next week.

Poultry

Whole birds were down. Jumbo breasts were down. Medium and small breasts were flat. Tenders are higher because of the increased demand. Although the price of jumbo wings was flat, it was historically high. The medium wings were completely flat. Small wings had been lowered. The demand for boneless dark meat is strong, although it is flat. Dark flesh with bones is flat.

Seafood

Warm-water lobsters are in short supply, with fresh season product arriving in mid- to late-August. The demand for North Atlantic lobster tails and flesh continues to outstrip supply. Pasteurized crab meat is in short supply, and there are no alternatives available. The supply of brown shrimp is increasing.