Poultry
Poultry supply has improved across the complex. Wings are seeing excess supply. Now may be the time to put some inventory in the freezer in anticipation of peak wing season.
August 2, 2024
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Market Headlines
Poultry
Wings have started to loosen up on the open market. Tenders continue to be mostly steady. Jumbo and medium breasts are mostly balanced. Small breasts are seeing some excess supply. Dark meat demand remains very good. Whole birds are mostly balanced.
Pork
Butts market continue to decline. Boneless Loins are steady, but softer for bone in as there is increased supply. Ribs overall continue to dive downward as supply has increased. The belly market is still being called as unsettled. The bottom has fallen out of trimmings, supply is getting tighter and 72’s & 42’s continued to increase significantly on the week.
Beef
With limited harvest, thin meats increased in price; continued demand for chucks and rounds are still bolstering those cuts, as need for lean trimmings continue to be top of mind. Grinds are leveling off and having to compete w/ other proteins. Upper 2/3 grade and PRIME product is limited, and prices are starting to firm.
Dairy
Shell egg markets are up this week. California and Northwest markets are up. The Block & Barrel are increasing. Butter is down.
Grains / Oil
Soybean oil was lower last week as funds are selling contracts. The US crop looks excellent, the weather is favorable, technical data favors a downturn, and the EPA announced new rules that could lessen the demand for biodiesel. Canola is higher with some growing areas dry with crop damage. Palm is higher with increased demand.
Seafood
Wild salmon season is in full swing and domestic shrimp has been at great value all year with steady prices. Wild domestic shrimp and wild domestic salmon are great additions to summer menus that customers look for. Be sure and check out all that Portico fish and shrimp offer in Wild and Domestic selections!
To learn more contact your local Sales Consultant. Market Corner Produce information reflects both U.S. and Canadian markets. All other commodity information is based on U.S. market data only.
Produce Market Updates
Vegetables
Asparagus
Growing regional shift is creating quality issues as areas finish. Supplies have been steady enough to mostly fill demand. An expected downward trend in supply should increase market, for now we are steady.
Bell Peppers
West – Supplies for all varieties are slightly better this week with improving numbers expected within two weeks. For now, the pipeline is still not full as quality remains weak due to the heat event. Market is strong.
East – Red and yellow extremely limited, North Carolina green pepper supply is better, market is high, quality is fair due to weather.
Broccoli
Market moving up. Supplies are going to be lighter for the next couple of weeks, in particular on crowns and short trim.
Brussel Sprouts
Demand is exceeding supplies and market pricing remains elevated. Seasonal quality and transitional challenges have significantly reduced yields.
Cilantro/Parsley
Cilantro and Parsley market are up this week as supplies have dropped a bit with signs of seeder impacting yields on both.
Cauliflower
Good to moderate supplies currently, but demand has picked up and market a bit stronger.
Eggplant
West – Demand exceeds, limited volume due to excessive heat.
East – Supply is lighter, quality is good, market is stronger due to demand.
Hot House
Peppers, cocktail, and Beefsteak tomatoes demand exceeds supplies.
Lettuce Romaine
Market mostly steady as supplies are in full swing with favorable weather for both romaine and hearts. Quality is good.
Lettuce Iceberg
Demand is stronger and the market is up on moderate supplies. Quality is reported as good and improving.
Onions
Supplies are lighter on yellows and reds from California and New Mexico. Whites are steady. Washington has started with yellows this week and reds next week. New Mexico volume is declining as fast as the Northwest starts up. Prices are higher on yellows and steady on reds and whites. Quality has generally been good.
Tomatoes
Round markets are on alert status and rapidly escalating due to increased rainfall out east combined with no availability out of MX. Roma markets have decreased due to additional availability. Grapes and cherry markets remain stable.
Squash – Alert
West – Moderate supplies are increasing this market, quality is inconsistent.
East – Supply is lighter with good demand, quality is also hit and miss.
Fruit
Avocado
As we continue to transition from one variety to the next, we are seeing significant challenges around supply of #2 fruit. Smaller sized fruit on the newer variety along with shorter supplies overall. Market higher.
Citrus – Alert
Lemons – Alert – California supplies remain tight, especially for small sizes (165 to 200–count fruit). The US market is receiving significant import volume from Argentina and Chile. Mexican lemon production is starting to increase.
Oranges – Heat is causing re–greening and slower harvests in California growing regions. Demand from the juicing industry and summer school programs is raising prices and narrowing availability of larger sizes (88 and up). Chilean Navels imports are starting to increase.
Limes – Recent rains have increased the availability of large-size limes, though the quality is fair. Small sizes are decreasing and expected to decline further by month’s end. Prices are adjusting with the increased volume of large sizes.
Grapes
Extreme heat continues to take a toll on Red Grapes mostly. Greens are in good supply and good quality, whereas reds are falling off slightly from good to only fair quality.
Pineapple
Pineapple supply is extremely tight. Demand exceeds supply. Prices are increasing weekly. Quality issues internal lighter color due to latest rain. Overall volume expected to continue to remain tight through August.
