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There has been a lot of heat in the southeast that could bring crops early or damage them. . There is improving volume on mid-sized to small limes. Larger sizes will continue to be short. Favorable weather conditions throughout the growing regions have fueled increased supplies for many commodities helping markets remain steady as we see increased summer demand. Harvest crews continue to wok product in the fields to mitigate quality issues.
Gains had a mostly down week with corn and wheat. Volatility on these items will persist. The soybean export season will get underway soon. Soybean oil traded higher last week but finished down sharply. Weather has improved in Canada for Canola, but no real pricing action has taken place.
Block and barrel markets dropped this week. Butter prices are down slightly but cream remains tight. Prices on eggs continue to increase. Production will be stressed as the weather starts to turn warmer for most of the country.
Packers are trying to hold steady pricing for as long as possible. Chucks and rounds continue to trade steady. Tenderloin supply is outpacing sales. Packers hope to slow the drop in trade in the nearby month. Ribs continue steady. Ribs are steady.
Bellies are going up for next week. Loins have slipped as retail has backed off. Pork butts continue to move up as demand has steadily increased
The random breast market is high, but prices are starting to drop. Tenders’ availability is very tight with high prices. We are starting to see additional product availability as bird weights have improved and demand has softened.
Canadian processing companies have stopped snow crab lines due to the strong decline in the market. They are dedicated to stabilizing the market and attempting to turn things around.