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August 4, 2023

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Market Headlines

Beef

Cattle markets are focused on calf prices to build incentives for herd expansion. However, input costs for fertilizer, chemicals and fuel are a challenge. Droughts and record high hay prices are a problem.

Seafood

Snow crab season extended in multiple areas into August due to full quota not being caught. Delayed season opener caused by the hold out of the FFAW over pricing is the main driver of these extensions.

Poultry

High temperatures across the south is keeping bird weight down and limiting production on Jumbo Chicken products. Expect an already tight wing and tender market to continue to experience constraints.

Dairy

Shell Egg markets remain steady, however some softness in California markets for next week. Cheese and Butter markets both continue to increase, with more bullish overtones for the following week. Cream and Culture pricing will be flat to slightly up depending on categories listed below.

Grains / Oil

Soybean oil futures were near 6% higher again last week as hot dry weather persists. Increases in crude oil and biofuel demand also helped aid higher prices. Canola was flat with farmer’s selling seed. Palm followed the soybean oil market.

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 – Alert

Supplies from both Mexico and Peru are light. Regions that have been negatively affected by weather. Larger sizes remain light. Market is holding.

Broccoli

Market a bit active but growers are reporting good supplies and should be able to keep up to the stronger demand.

Brussels Sprouts – Alert

Poor yields continue impacting production and market is reacting higher, yields are better in some growing areas, but the overall supplies are struggling to keep up to the demand.

Cabbage – Red & Green

Market steady on both red and green cabbage.

Cauliflower

Supplies are steady to a little lighter depending on grower. Market is active but nothing too extreme.

Cilantro/ Parsley

Market remains firm as supplies are lighter with cilantro. Parsley supply and quality look good over the next 2–3 weeks.

Celery

Celery supplies are much better, and market is reacting down. Growers are seeing more 24 size celery and starting to meet the demand.

Eggplant – Alert

West – Light supplies due to weather related damage resulting if fair quality. East – availability is tight, and pricing should continue to stay strong.

Lettuce and Romaine – Alert

Iceberg supplies very short, market active. Romaine and all leaf good quality, supplies good and market steady.

Onions

Markets are slightly soft due to excess inventory in the pipelines. California will be winding down this week and New Mexico next week.

Washington to be starting in earnest next week and Idaho the following week.

Peppers –  Alert

Moderate supplies are expected to decrease into next week expected to trade higher. Quality fair on all. East – Green pepper supply lighter, good quality, and demand strong. Red and yellow extremely short in the east.

Peppers Chilies

West – Extremely light supplies with high probability of prorates, primarily poblano’s. Other varieties affected but manageable to cover orders. East – with GA finished for the season, pricing is elevated overall. No major volumes yet.

Potatoes

Markets remain steady after last week’s short pack schedule. Product was tight to start the week but will improve towards the end of the week on smaller sizes. New crop continues to look on schedule.

Squash

West – Lighter demand with steady supply, only fair on yellow. East – Zucchini and Yellow squash supply light, demand good, quality good and moving well at current prices.

Tomatoes

Supplies steady on all varieties. Markets look to hold steady.

Fruit

Avocado – Alert

Harvest has fully transitioned to the Loca Crop. Supply are extremely short on 48’s and larger. Crop is peaking on 60’s and smaller. Flexibility on size, grade and country of origin are needed to fill orders.

Citrus – Alert

Lemons – Alert The market is firming up. The Central Coast is not producing enough. Imports are needed to fill the pipeline. Vessels due this week are being held up at port and containers are not being offloaded in a timely manner. Supplies are thin but will improve once this fruit hits. Fancy grade and small sizes are extremely tight.

Oranges – Valencia’s are in full swing peaking in an 88/113. growers seeing some re–greening due to the extreme heat. An increased amount of choice grade will be packed as well.

Limes –Alert Weather issues/continued rain limiting harvest and creating quality

Grapes 

Market on reds down slightly, quality and supply very good.

Pineapple

Pineapples are still tight especially on bigger sizes. Prices are up as demand continues to be strong and supplies are down.