Market is steady to slightly lower. Total beef production for last week was down 1.8% versus prior week and down 2.8% versus prior year. Live prices are holding mostly steady and remain well above same time last year. Futures continue to point towards strong pricing as we move thru this year. Packer margins remain very negative. Inventories remain good to long on some cuts while demand is rated as steady to slightly lower. Grilling season is right around the corner and is expected to help spur demand and put pressure on pricing.
Grinds– Market is slightly lower. Inventories are good to slightly heavy for current demand. Seasonal demand is expected to tighten inventories and put pressure on the market as we move thru the next few weeks.
Loins– Market is steady to slightly lower. Inventories are very good for current demand. Packers moved pricing downward again this week in an attempt to help bring demand in line with inventories.
Market is steady to slightly lower. Inventories are good for current demand and expectations are for pricing to move slightly lower as we move thru the next few weeks.
Chucks– Market is steady.
Ribs– Market is mostly steady. Inventories are good for current demand.
Market is steady to slightly lower. Total pork production for last week was up 2% versus previous week and up 1.7% versus same time last year. Live prices are holding mostly steady but remain above same time last year. Live weights increased 1 lbs from previous week and were up just over 2 lbs from last year. Inventories are heavy too long at times on several cuts and are putting downward pressure on the market. Packer margins remain negative and reports show that packers are expected to reduce production to help bring inventories in line with current demand.
Bellies– Market is slightly lower. The market drifted lower this week as current inventories continue to exceed demand.
Hams– Market is mixed. Heavy hams continue to move downward because of ample supply and only a fair demand. Smaller sized hams and spirals have held firmer as inventories are tighter as demand has been good.
Loins– Market is steady.
Butts– Market is mostly steady. Demand is expected to increase over the next few weeks and help push this market heavier as seasonal demand starts to impact inventories.
Ribs– Market is mixed. Spareribs continue to trend downward as inventories outpace demand. Back ribs remain firm and are expected to remain firm as we move thru April.
Business continues to be mostly seasonal. Most offerings are adequate for current inventory levels. WOGs and whole birds have become troublesome for suppliers, with inventory levels building to where market has seen some decreasing this week in the hopes of making a sale.
Whole breasts and breast fronts are steady with product limited in availability. Boneless is about steady. Tenders are short of full needs. This market has seen some increase this week as demand has strengthened. Dark meat overall is flat. Wings are steady.
Markets are mixed. The whole bird market is gaining strength as we move into spring. Both toms and hens are tight on availability, with toms more so. This market more than likely will continue to get stronger. Consumer sized breasts are strong as buyers are paying premiums to get needs covered though the next few months. Institutional sized product currently trading at market. Thigh meat at best is steady. Wings are steady with hen wings harder to secure. Tenders are steady.
Gulf Shrimp– Market is steady but firm. Inventories remain limited and supplies vary between suppliers.
Black Tiger Shrimp– Market is steady.
White Shrimp– Market is mixed. 36–40 count and smaller from Latin America are firming in price based on a good demand and inventories tightening. Replacement costs on this product are moving higher putting additional pressure on the market. The rest of the market is mostly steady.
King Crab– Market is steady.
Snow Crab– Market is steady to slightly lower. Inventories are good for current demand.
Scallops– Market is mixed. Domestic IQF prices have eased slightly because of good production since the opening of the new season on March 1st. 40/60 count bay scallops from China continue to firm because of limited inventories.
Salmon– Market is soft. Inventories are good for a dull demand.
Cod– Market is steady.
Flounder– Market is firmer. Inventories are light for a good demand.
Haddock– Market is steady. Inventories are below average because of low production numbers but demand is low and is helping to hold the market steady.
Pollock– Market is steady.
Whiting– Market is steady.
Domestic Catfish– Market is steady.
Mahi-Mahi– Market is softer– Inventories are good for a dull demand. Current pricing remains above normal seasonal averages.
Tilapia– Market is steady to slightly lower. Inventories are good for current demand. 3–5’s and 5–7’s have inventories rated as very good.
Grouper– Market is firm. Inventories are light for a good demand.
Swai– Market is steady.
Cheese-Market is firmer. Both the CME Block and Barrel market moved upward again this week. Export demand remains good and is noted as helping to move some of the inventories that had started to build from the previous weeks of strong production. Domestic demand is also good and is due in part to the warm weather across the country.
Butter– Market is firmer. The CME Butter market opened stronger on Monday and has remained steady for the week which has pulled the weekly average higher. Retail demand is very good and there are several ads currently in place. Retail demand is noted as increasing and is expected to increase over the next few weeks. Export demand is also good. Current production is good as processors utilize seasonally building milk and cream supplies.
Market is firm. Total shell egg inventories were up 1.8% to start this week versus prior week. Retail demand is increased and expectations are for demand to continue to increase as we move closer to Easter. Foodservice demand continues strong and better than expectations. Inventories on most sizes remain tight for current demand and continue to put additional pressure on pricing.
FRUITS, VEGETABLES, & IMPORTS
Dry Pack Product – costs continue to rise on all dry pack items and availability is tight due to shortage in raw material. Expect firm to rising prices.
White Potatoes – expect spot shortages in some whole sizes. Sliced and diced inventories are currently balanced, but raw material is tight. Expect firm to rising prices.
Green Beans – Due to diminishing inventories, some canners are instituting pallet minimums on green beans. Expect spot shortages and rising prices.
Green Peas – Inventory is very tight and most canners are concerned about having product available until new pack in June.
Carrots – adequate supply to meet needs.
Corn – All grades are available immediate needs. Expect firm Pricing
Beets – Whole beets are very tight with most canners enforcing pallet minimums – some canners are out completely. Sliced and diced are in adequate supply.
Soy bean oil futures prices have pulled back from last Friday’s level. Good domestic weather, the possibility of more bean plantings, lower outside and energy markets and were the primary drivers. On the other side concerns still exist for the South American crop. Brazil’s crop is over the half way point and some are expecting a reduction. Argentina while in the middle of their crop has a truckers strike which could possibly result in reductions.