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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.
