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August 19, 2022

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Market Headlines

Seafood

The shrimp market is saturated with both Whites and Tigers as importers brought in excess inventories to build a cushion while the demand has softened due to slow retail sales. Prices have continued to decline on specific sizes.

Produce

Potatoes Supply situation continues to be dire. Demand is exceeding supplies in all regions. Subbing sizes, prorates and loading delays expected. WA & Central Idaho started but volume is limited and heavy to 80-120cts

Shell Eggs

Shell egg markets are expected to fall in the coming weeks with ample supply and flat demand.

Dairy

Both cheese markets moved higher following several weeks of a downward trend, though demand is softening. Cream supplies are tightening forcing butter markets higher. Supply demand for eggs is well balanced and eggs continue to move lower.

Grains / Oil

Most grain-based commodities rose last week, including soybean oil, which led the way with more than a 6% increase vs. previous week. Dry hot weather is the leading cause for the higher markets. Canola and palm moved higher to keep pace with soybean oil. Canadian weather is still really good for the Canola crop.

To learn more contact your local Sales Consultant. Market Corner Produce information reflects both US and Canadian markets. All other commodity information is based on US market data only.

Produce Market Updates

Vegetables

Asparagus – Alert

Market remains firm. Supplies continue to be tight from both Peru and Mexico, but demand is light to moderate. Prorates are a potential in the coming weeks.

Broccoli & Cauliflower

Market is steady from previous weeks with good supply to meet all demand needs.

Cabbage – Green & Red – Alert

Out of Mexico green and red cabbage remain limited in supply with active markets. Expect to see continued market volatility for rest of the month.

Cilantro & Parsley – Alert

Active markets with limited available supplies on cilantro. Domestic supplies have been impacted by previous high heat in the growing regions.

Eggplant – Alert

East – Eggplant supply lighter, quality good, demand good, and market could increase.

West – Lighter supplies next week, anticipate volume to slightly increase 2 weeks from today.

California eggplant quality fair, Mexican eggplant better movement and quality.

Fingerling Potatoes – Alert

Market continues to short with limited supplies for the 4-5 weeks.

Green Onions – Alert

Market is very active and becoming more limited in supply because of hot weather conditions in the growing regions. The impact of the weather has reduced the weight and yields of available product to harvest.

Leaf, Iceberg, and Romaine

The markets on iceberg, romaine, romaine hearts, are moving quickly into a demand exceeds supply situation. Weather conditions coupled with inconsistent demand patterns are driving the markets upward. Limited supplies and volatile market conditions are expected for the next 2-4 weeks.

Peppers – Green, Red, Yellow & Chili-Alert

Markets active on red and gold bell peppers. Expect active markets for the next few weeks.

Russet Potatoes

The industry is facing shortages due to suppliers having reduced volume caused by the previous heat events that took place last June. The storage crop is currently coming to an end with significantly less volume that is needed to meet all demand.

Relief is not expected until mid- August when out the new crop out of Washington starts with Idaho to follow. Supply situation continues to be dire, and market continues to climb. Demand is exceeding supplies in all regions.

Squash – Alert

East Coast – Squash has become extremely tight this week. Markets are increasing strongly. Small gap in production will keep the market fairly strong for at least a week.

West Coast – Zucchini and yellow squash from central coast CA will be light. Fresno area coming back into production. Baja, Ca volume hard to tell as wet weather has passed through.

Tomatoes– Alert

Round market supply is limited and on alert status due to high temps out west combined with rainfall and high temps out east.. Round market could remain in alert status for the next 2-3 weeks until supply improves.

 

Fruit

Avocado

Avocado availability remains strong with good volume available on most sizes. Mexico’s harvest has been producing more large fruit while 60s and smaller have firmed up some. California has limited harvest and will be done by the end of the month.

Colombian inbounds continue to trickle in with volume peaking on size 60s. There’s very good availability of Peruvian supply with volumes peaking on size 48s and larger.

Citrus–Alert

Lemons: Markets are mostly steady except large fancy which is seeing better availability and lower prices as import volume increases. California is heavy to mid-size choice grade.

Oranges: The market is strong with limited supplies of 88-138 ct. California Valencia shippers are limiting their harvest to stretch out the season into October. Quality is fair on domestic Val’s. with some regreening present. Chilean navels are showing better signs of quality and volume versus Valencia oranges.

Lime: The market is beginning to react as costs increase in Mexico. Overall quality is deteriorating, including lighter coloring, decreased shelf life, and increased skin breakdown.

Pineapple–Alert

The market is tight. Supplies are light on 5 and 6 ct. with some suppliers subbing into 7 ct. Volume is expected to improve by mid- September.

Strawberries

Active market and shorter supplies continue as growers continue to struggle with quality issue attributed to tired plants and less than desirable growing conditions.

Market conditions are expected through the end of August.