Category: Uncategorized

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Freshly Picked, November 7, 2022

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Produce

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Vegetable supplies out of the Salinas Valley are considerably limited due to ongoing weather issues. The most affected are the lettuces (green leaf, red leaf, romaine and iceburg). Supplies out of Mexico saw a slight increase but supplies remain limited due to the heavy rainfall, hail and wind damage experienced two weeks ago. Growers continue to see quality issues such as tip burn, fringe burn, pin rot, browning and lighter weights

Grains

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The Black Sea Grain Initiative may be terminated by Russia, and low diesel fuel stockpiles all increased pressure on soybean oil. Prices for palm oil increased as well, but more so because Malaysian demand increased. With Canada’s harvest over, canola is essentially flat.

Dairy

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The previous several days have seen a substantial decline in butter markets; fall orders appear to be finished. While a new instance of AI is being reported, shell egg sales are still rising. Cheese sales are declining as cheese manufacturing returns to milk.

Beef

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Packers are still gathering animals, and they are intent on obtaining as many Choice and Select boxes as possible for the upcoming holiday season. Ribs keep going strong, but it’s hard to find light-weight products and packs of top quality. Round slices, chuck rolls, and strips all continue to be produced steadily.

Pork

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Butts are seeing some modest market concessions, despite increased demand from retailers and exporters. With historic cold storage levels, the price of ribs is still declining, and suppliers keep building up their supplies. Because exports are preventing this market from declining, loin prices are also declining, though not as much as was anticipated. There is a good supply and a downward trend in belly size.

Poultry

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The whole bird was up. Breasts had fallen. Tenders significantly decreased. Medium and jumbo wings were covered. Flat wings that were little. Boneless thigh flesh was greatly reduced. Leg meat without bones was on sale. Although it is wing season, there are still plenty of wings available. Prices are falling quickly and there are more tenders available. Breasts of every size are widely accessible, and costs are dropping. Prices for boneless thigh meat decreased once more this week. Boneless leg meat prices keep dropping. Cut ups and whole birds had a greater price.

Seafood

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Due to conservation concerns, the Alaska Department of Fish and Game announced the closure of the Alaskan Red King crab season and the Alaskan snow crab season for 2022–2023. As processors find new labor sources, catfish production keeps becoming better. In Texas and Louisiana, landings of head-on shrimp for peeling have significantly decreased.

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Freshly Picked, October 31, 2022

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Produce

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Vegetable supplies out of the Salinas Valley are considerably limited due to ongoing weather issues. The most affected are the lettuces (green leaf, red leaf, romaine and iceburg). Supplies out of Mexico saw a slight increase but supplies remain limited due to the heavy rainfall, hail and wind damage experienced two weeks ago. Growers continue to see quality issues such as tip burn, fringe burn, pin rot, browning and lighter weights

Grains

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Canola moved sideways as the crop is nearly 100% complete. The crop looks good but inconsistent across different growing regions.

Dairy

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Prices for shell eggs are rising once more as demand rises and supplies become more scarce. Butter prices are stable as the conclusion of the holiday shopping season draws closer. The supply situation for blocks of cheese is good, and there is some pressure in the barrel market.

Beef

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The market can be best defined as unsettled as a result of the harvest number being higher than anticipated last week and packers’ pricing trajectory rising. Ribs continue to command higher prices, with premium grade packaging and light weight range products. Strip production is still strong, but in the coming months, there won’t be as many premium boxes available for purchase. The grind is constant.

Pork

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The market for butts is expected to rise as a result of increased demand from merchants, which is expected to continue steady for the coming week. In line with seasonal trends, the market for boneless loins remains soft. Due to suppliers clearing out their cold storage stocks, the price of ribs is still declining. After the recent increase, the enthusiasm for bellies has calmed off. Ham levels remain high.

Poultry

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Although it is wing season, there are still plenty of wings available. Prices are falling quickly and there are more tenders available. Breasts of every size are widely accessible, and costs are dropping. Prices for boneless thigh meat decreased once more this week. Boneless leg meat prices keep dropping. Cut-ups and whole birds had greater prices. 

Seafood

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Due to conservation concerns, the Alaska Department of Fish and Game announced the closure of the Alaskan Red King crab season and the Alaskan snow crab season for 2022–2023. As processors find new labor sources, catfish production keeps becoming better. In Texas and Louisiana, landings of head-on shrimp for peeling have significantly decreased.

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Freshly Picked, October 24, 2022

Alerts & What’s Trending

Produce

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Vegetable supplies out of the Salinas Valley are considerably limited due to ongoing weather issues. The most affected are the lettuces (green leaf, red leaf, romaine and iceburg). Supplies out of Mexico saw a slight increase but supplies remain limited due to the heavy rainfall, hail and wind damage experienced two weeks ago. Growers continue to see quality issues such as tip burn, fringe burn, pin rot, browning and lighter weights

Grains

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The bushels of soybeans produced per acre by the USDA were far lower than anticipated, which caused bean prices to rise. Since fewer beans result in less oil, soybean oil rose. Canola and palm had a plentiful supply and were flat.

Dairy

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Demand for cheese in the foodservice and retail sectors is uneven. Cream prices fell, softening the butter market. Despite the fact that there have been no new occurrences of avian influenza, shell egg costs are still very high.

Beef

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Last week, the average USDA Choice boxed-beef cutout lost 0.24 percent from the prior week, and it was 12.2 percent lower than a year ago. Beef production declined 0.6 percent from the prior week, but it was 2.2 percent larger than a year ago. Despite rising live and feeder cattle prices, most beef markets, especially the steak cuts, continue to struggle, which suggests that overall beef demand is waning.

Pork

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The price of bone-in butts is rising as a result of increased demand from retailers. Boneless butts experienced a small decline, but they will rise throughout the week. As providers exhaust their older stocks, the market is displaying weakness for all rib cuts. Following the brief run from last week, bellies are comparatively flat. Ham prices are still high and are predicted to remain so.

Poultry

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Wing season has arrived, but there are lots of huge wings available now. Prices are falling quickly and there are more tenders available. All breasts are easily accessible, and the cost is going down. Prices for boneless thigh meat decreased once more this week. Compared to dark meat alternatives, boneless leg meat is more widely accessible.

Seafood

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National Seafood Month occurs in October! As specialities on the menu to honor the event, now is a fantastic time to advertise shrimp, lobsters, salmon, cod, tuna, catfish,  mahi-mahi, tilapia, and snow crab. Due to conservation concerns, the Alaska Department of Fish and Game has canceled the 2023 fishing season for both Alaska Red King crab and Alaska Snow crab. For the Alaska Red King crab, this is the second season.

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Freshly Picked, October 17, 2022

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Produce

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Weather issues (heat and rainfall_ continue to linger across several growing regions, leading to tightened supplies and quality issues, resulting in overall higher markets. Vegetable production out of the Salinas Valley continues to see a decrease in supply due to the virus. Additionally, the commodities still continue to see increased heat-related issues such as lighter weights, fringe burn, tip burn, internal burn, discoloration and lower shelf life.

Grains

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Soybean harvests are behind while canola harvests are almost complete. Palm oil and Canola oil prices were forced higher due to higher soybean prices. Low water in the Mississippi River and higher crude oil has caused higher soybean prices. 

Dairy

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Last week saw gains in both cheese markets thanks to stable foodservice demand and inconsistent retail demand. Despite being more accessible, butter prices were higher. Egg prices decreased as the supply rose. The price of milk increased as inventories increased.

Beef

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The cattle market is still one that feels generally stable. Ribs stay consistent, with quality boxes and light-weight products commanding higher prices. Stripes are still softer, and there are still few luxury options available. As consumers wait for the arrival of fall weather to increase demand for roast, chucks and round cuts remain steady. The end of grilling season has resulted in lower costs for grind.

Pork

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Butts should keep moving down the slope in which they currently find themselves. Due to the excess inventory in cold storage, the market for ribs is currently moving sideways. In contrast to the premiums we have been seeing every year, loins are also down. As retail demand for bacon soared, bellies bulged. Hams are now flat. Inventory is limited for the upcoming holidays. 

Poultry

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Demand for wings is stable. Prices are falling quickly and there are more tenders available. The market for random breasts is declining. Breasts for portion control are available, and their costs are going down. Prices for boneless thigh meat decreased once more this week. Compared to dark meat alternatives, boneless leg meat is more widely accessible. Higher are whole birds. 

Seafood

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The Bristol Bay Red King Crab season in the Bering Sea will be closed for a second year in a row, the Alaska Department of Fish and Game stated Monday. For the first time in recent memory, the snow crab season in the Bering Sea will be closed. Due to low catches, there is a limited quantity of canned chopped clams for chowders.

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Freshly Picked, October 10, 2022

Alerts & What’s Trending

Produce

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Weather issues (heat and rainfall_ continue to linger across several growing regions, leading to tightened supplies and quality issues, resulting in overall higher markets. Vegetable production out of the Salinas Valley continues to see a decrease in supply due to the virus. Additionally, the commodities still continue to see increased heat-related issues such as lighter weights, fringe burn, tip burn, internal burn, discoloration and lower shelf life.

Grains

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All traded commodities made from soybeans traded lower as a result of USDA data showing significantly bigger soybean inventories than anticipated. However, soybean oil stocks have dropped to a 13-year low. Expect a higher trend in this market. Canola markets increased as a result of farmers delaying the sale of seed and lower-than-expected yields. With high stock levels, Palm is significantly lower.

Dairy

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High shell egg markets have started to curb demand, prices starting to fall/Butter markets remain high as we move into holiday season/Cheese markets remain mixed as supply for barrels tighten, while block are available.

Beef

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With the availability and price disparity being wider for premium grade boxes, the industry is moving in two different directions. Overall, the rib market is still stable, with some inventory providing purchasers time to consider their options for choosing between Choice, Sel, and No Roll. Strips keep getting softer, but there is still a shortage of CAB and higher product. Chucks are still holding the line, and inside round cuts are still steady. 

Pork

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Retail provided some support for butts past week, driving the market higher because it is a value pick. Although the market for boneless loins is currently quite static, overseas markets may show some interest in the product. Demand and supply for ribs both stayed the same. Fresh bellies did not experience much activity, but once secondary processing picks up, it may begin to increase. 

Poultry

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Although there is seasonal wing demand, prices are stable. Prices are down and there are more tenders available. The market for random breasts is declining. Breasts with portion control are available. Prices for boneless thigh meat decreased once more this week. Leg meat without bones is widely accessible. The price of whole birds is rising.

Seafood

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National Seafood Month occurs in October! As specialties on the menu to honor the event, now is a fantastic time to advertise shrimp, lobsters, salmon, cod, tuna, catfish, pangasius/swai, mahi-mahi, tilapia, and snow crab.

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Freshly Picked, October 2, 2022

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Produce

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Weather issues (heat and rainfall_ continue to linger across several growing regions, leading to tightened supplies and quality issues, resulting in overall higher markets. Vegetable production out of the Salinas Valley continues to see a decrease in supply due to the virus. Additionally, the commodities still continue to see increased heat-related issues such as lighter weights, fringe burn, tip burn, internal burn, discoloration and lower shelf life.

Grains

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Grain market took a hit with this weeks Russian annexations in eastern Ukraine. This is casting doubt over the Black Sea deal. Last week, soybean oil fluctuated in both directions but finished well. The main cause of the increased market was the USDA reports. As a result, corn and wheat prices increased as well. A decrease in the anticipated production of that crop helped canola climb higher. Due to weak demand and rising supplies, Palm was unchanged. 

Dairy

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With concerns about having enough supply to fulfill demand, both the block and barrel cheese markets increased. Another record price for butter has been reached due to strong exports and inadequate production. Bird flu and high demand drastically reduced egg inventories, driving up egg prices. 

Beef

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With the availability and price disparity being wider for premium grade boxes, the industry is moving in two different directions. Overall, the rib market is still stable, with some inventory providing purchasers time to consider their options for choosing between Choice, Sel, and No Roll. Strips keep getting softer, but there is still a shortage of CAB and higher product. Chucks are still holding the line, and inside round cuts are still steady. 

Pork

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Retail provided some support for butts past week, driving the market higher because it is a value pick. Although the market for boneless loins is currently quite static, overseas markets may show some interest in the product. Demand and supply for ribs both stayed the same. Fresh bellies did not experience much activity, but once secondary processing picks up, it may begin to increase. 

Poultry

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Although there is seasonal wing demand, prices are stable. Prices are down and there are more tenders available. The market for random breasts is declining. Breasts with portion control are available. Prices for boneless thigh meat decreased once more this week. Leg meat without bones is widely accessible. The price of whole birds is rising.

Seafood

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Optimal harvest sizes for catfish production improves. Walleye and Whitefish is having better harvest do to the cooling of the warm water in the Great Lakes.

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Freshly Picked, September 26, 2022

Alerts & What’s Trending

Produce

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Weather issues (heat and rainfall_ continue to linger across several growing regions, leading to tightened supplies and quality issues, resulting in overall higher markets. Vegetable production out of the Salinas Valley continues to see a decrease in supply due to the virus. Additionally, the commodities still continue to see increased heat-related issues such as lighter weights, fringe burn, tip burn, internal burn, discoloration and lower shelf life.

Grains

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Tuesday was a tremendously optimistic day for the wheat complex as big gains were seen everywhere but particularly in Chicago wheat, where the December contract saw a day-to-day increase of about 8%, wiping out all of last week’s losses. The surge could be attributable to a number of things, but the most likely cause is fresh concerns over the Black Sea grain trade. Even Putin himself was somewhat taken aback by how effective the export agreement has been thus far. We might witness a return to a very bullish price environment for maize and the wheat complex if the agreement isn’t renewed and grain exports from the Black Sea stop once more. 

Dairy

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Cheese block manufacturing in the US has grown in recent year and cheese cold storage inventories have been adequate. Demand both globally and domestically has been strong. Exports for 2022 are on record pace. With concerns about having enough supply to fulfill demand, both the block and barrel cheese markets increased. Another record price for butter has been reached due to strong exports and inadequate production. Bird flu and high demand drastically reduced egg inventories, driving up egg prices.

Beef

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With the availability and price disparity being wider for premium grade boxes, the industry is moving in two different directions. Overall, the rib market is still stable, with some inventory providing purchasers time to consider their options for choosing between Choice, Sel, and No Roll. Strips keep getting softer, but there is still a shortage of CAB and higher product. Chucks are still holding the line, and inside round cuts are still steady. 

Pork

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The USDA pork belly primal price has been trending lower this week and is now down 35.4 percent from its peak in August ($2.170/lb). According to the USDA, this fall’s (Q4) U.S. pork output will be 1.5% lower than last year’s level, which might restrain the growth of pork belly (bacon) inventories in the coming months. Although bacon is a popular breakfast and sandwich item addition among Americans, its demand may be in doubt. This is because consumers may be choosing more robust meat proteins as a result of their limited budgets.

Poultry

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Egg supply remains tight due to the current impact of the Avian Flu. Demand on wings and prices continue to be steady. Tenders are dropping and availability is increasing. Boneless leg meat is readily available with prices down again this week. Whole birds are trending higher.    

Seafood

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Seafood import prices were released by the USDA last week. Snow crab is down almost 15%. This is the 8th consecutive month that snow crab has fallen. The frozen cod market strengthened. The Great Lakes’ warm water gradually cooled, allowing for better Walleye and Whitefish harvesting (perch remain elusive). As fish grow to the right size for harvest, catfish production increases.

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Freshly Picked, September 19, 2022

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Produce

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Weather issues in may growing regions will cause markets to increase over the next few weeks. Avocado supplies have continued to increase on the larger sizes.

Grains

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The market moved lower for the majority of previous week due to technical trading, but by Friday the market had recovered. Scores for soybeans moved very little. Farmers are selling canola as it approaches a two-year low. Large oil inventories and weak Chinese demand are pushing palm prices lower.

Dairy

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Despite flat demand and weaker exports, cheese prices rose last week on both the block and barrel markets. Butter reached a record-high price while anticipating a pullback. With strong retail and foodservice demand, as well as the effects of resurgent avian influenza, egg markets are higher.

Beef

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In particular for CAB or higher product, ribs continue to benefit from close in sales and the front-end demand; Sel and No Roll present prospects. While strips continue to get softer, CAB or higher product is still scarce. Chucks are still holding the line, but clods and inner round cuts are getting stronger. The grinding is constant. 

Pork

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More demand is causing bellies to trend up. Loins moved up slightly due to short supplier. Ribs continue to remain flat. Support from retail and a short harvest week are moving butts up for next week.

Poultry

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Wing demand for the season is here. Prices are dropping and availability is increasing for tenders. The random breast market is dropping. Thigh meat prices were down again this week. Whole birds are higher while boneless leg meat is more available than its dark meat counterpart.  

Seafood

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The Great Lakes’ warm water makes fishing difficult and delays harvest until late September. As fish grow to the right size for harvest, catfish production increases. Farmers don’t let the fish stay in the water longer than necessary, so the majority of the tilapia collected is small. There are not enough 7-9 ounce fillets available. 

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Freshly Picked, September 12, 2022

Alerts & What’s Trending

Produce

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Weather issues in may growing regions will cause markets to increase over the next few weeks. Avocado supplies have continued to increase on the larger sizes.

Grains

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There is weak demand and large stocks of palm oil causing it to move lower. Good Canadian crops for canola. Soybean oil market traded down last week.   

Dairy

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Avian Flu has resurged causing shell eggs to move higher. The butter market has moved higher as cream has softened.

Beef

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Summer holidays are behind us causing buyers to look for product on a shortened production week. Demand and sales for ribs continue.  

Pork

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Butts have found their floor and levels off. Supplies for ribs are in good demand. Bellies have seen a slight dip and will continue the trend for the next few weeks.

Poultry

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Avian Influenza outbreaks have started to return. Whole birds market is trending up. Boneless thighs were down this week. Seasonal wing demand is back. Increasing availability on tenders and portion-controlled breasts.

Seafood

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There is good market value on frozen tuna. Tilapia harvests have been small since farmers are not letting fish stay in the water longer than is necessary. There is a shortage on 7oz-9oz filets. 

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Freshly Picked, September 5, 2022

Alerts & What’s Trending

Produce

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Weather issues across many regions are causing markets to trend upwards and will likely remain for several weeks. Many of the mixed vegetables out of the Salinas Valley see volatility due to increased INSV pressure combined with warmer temperatures.

Grains

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Last week, the soybean oil market increased as a result of recent private crop appraisals that expressed concerns about crop production. Canola and palm oil prices increased as a result, albeit palm oil only moved very slightly because demand has decreased and supply is plenty.

Dairy

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Despite good production, cheese sales declined once more. The demand is rising. Supply of butter is becoming increasingly scarce, driving this market upward. The market is rising as a result of the restricted cream market. Shell egg prices increased as a result of strong foodservice demand and steady retail demand.

Beef

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Strips continue to show firm demand. Markets continue to hold flat with buyers and packers both trying to gain leverage. Ribs are steady.

Pork

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Expect more concessions this coming week as butts continue to deteriorate. For the time being, ribs are trading sideways and are marginally lower. Because of retail demand, loin prices remain comparatively flat. Bellies fell below markets from the previous year. Ham sales are also declining as export demand declines.

Poultry

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Football season is almost approaching, and supply has already started to become scarce. The number of available tenders is rising. Due to Labor Day demand, the market for random breasts has leveled off. Breasts with portion control are available. Prices for boneless thigh meat decreased once more this week. It’s easier to find leg meat without bones.

Seafood

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The availability of domestic and imported catfish is continuing to increase. The supply of frozen tuna has increased and has a high market value. Due to manpower shortages, a lack of containers, and FDA holds, some tilapia shipments are currently experiencing delays.