Live hog pricing moved up some at midweek. It had been virtually unchanged from last week. The market is largely unchanged. July 4^th demand has not kicked in yet on most cuts.

Hams moved a little lower despite healthy sales to Russia and Mexico. Butts were supposed to start firming but it hasn’t happened yet. We may see some upward pricing for a week or so and then we will be in the post 4^th slump. Cushion is steady. Bellies are unchanged. Trim is mixed with 42% being available and weaker and 72% holding steady. Bone in loins are unchanged while boneless ticked up. Spareribs are staring to increase in response to the 4^th. This should fade around the 4^th however.

Demand for fresh pork is still weak overall. While margins eroded somewhat this week they are still in the black.

 

 

The price of live cattle is down slightly again this week and the call is barely steady for next week. There is little change from last week as suppliers wait for the 4^th of July demand to kick in.

Grinds were on prompt earlier in the week but firmed up by midweek. This should continue through the 4^th. Strips have stabilized but tenders showed some weakness this week. Ribs are steady. Rounds should be up slightly and level off moving into the 4^th. Chucks and briskets are well sold out front and should see upward pressure.

Packers margins have dwindled dangerously close to break even. Cattle weights are steady with last week but below last year

One industry note, a major packer announced that they were pulling their price list on choice product this week. The choice grade percentage is down somewhat but some feel that a major retail user is moving towards selling all choice product which would spike demand. If this is so you should see the Choice/Select spread widen considerably.

 

 

As of June 17^th NOAA has updated the area closed to fishing in the Gulf  to include 33.4% of the Federal waters.  This is down from the 37% from just over a week ago.

Gulf Shrimp-Market remains firm.  Demand remains strong.

Black Tiger- Market remains firm.  Reports show Vietnam’s production running behind.

White Shrimp-Market remains firm.  Larger count remain tight.

Tilapia- Market is steady.

Snow Crab- Market is firming.  Supplies are tightening as demand has increased.

Salmon- Market is listed as softening.  Supplies have increased as demand has fallen.

Grouper- Market is steady.

Mahi- Market firmed slightly earlier this week.

Lobster- Market is firm.  Father’s Day is reported as being the busiest time of the year for retail sales.

 

 

Cheese- The market leveled off this week after experiencing a few weeks of softening.  Pricing remains above same time last year but well below the numbers seen in 2008.  Production continues strong and inventories are reported as increasing with some manufacturers.  Cheese exports were listed as record amounts for both March and April.  However, export interest should slow if the dollar continues to build strength.

 

 

 

Butter- The market has continued to firm thru this week.  Cream supplies have tightened as the result of normal seasonal activities.  It is reported that butter supplies are low historically and could be a concern as the year progresses.

 

 

 

Shell Eggs-Market remains weak.  Demand in Retail is listed as fair while Foodservice is listed as steady.  Supply appears to be larger than current demand.  The market is expected to level out over the next few weeks as retail demand is expected to improve.

Egg products- Market is steady.  Inventories are reported as higher compared to same time last month but still well below same time last year.

 

Pulp pricing continues to be strong some 25 points over same period a week ago and 40% higher than a year ago.  This will keep napkin, tissue, and all paper board items up.

Resin is starting to soften, cup (PS-CHH) cutlery (PP-HIGP) market still holding , but liner and film wrap (PE-LLD) took a six point drop compared to last week.  That is still 19 points higher than same period a year ago.  Pricing will remain firm until further declines.

 

 

 

Walnuts - The CASS final harvest report was for 436 thousand in shell tons. Most growers are cautiously optimistic this crop will be larger than last year as all varieties look good.

 

Macadamias - Shipments continue to be late from all origins. Packers in Australia report disappointing yields and volume from early shelling.

 

 

All eyes are on the weather.  The converse of the last few years is occurring this season, as many vegetable growing regions are dealing with rain rather than a shortage of water. Too much rain can delay the planting and harvesting phases as well as affect the grade of finished product through size, color, and defects. In the last few weeks some areas have experienced heavy rains and some slight delays to plantings and harvest have occurred. Peas so far seem to be progressing well. Green beans, corn, and tomatoes are having weather related issues but none are being reported as harmful to the overall budget yet. No canner yet has expressed the possibility of shortages due to the rain. It is a mixed bag of forecast with the ultimate result of it being too early to tell.

 

Tuna is the hot issue in imports this week. Product sourcing issues are the topic.  Fishing bans for sustainability purposes are to begin very soon in the prominent fishing areas. China, a tuna producing country, is rumored to be trying to source tuna from Thailand and other outside areas. For tuna coming into the US, these factors shift the supply and demand scale and the associated pricing should follow suit.