February 11, 2022

Download Our PDF for this report

Market Headlines

Beef

Beef trim supply, like it was needed, now has other stresses to drive this market. Protests at the US/Canada border and other logistical issues all caused a shift in market prices this week.

 

Seafood

After the Chinese New Year, restaffing at the seafood factories could be difficult in China due to the anticipated COVID resurgence. Delays in shipments are expected.

 

Soybean Oil

Soybean oil continues to move higher with heavy vitality. 46% over last year, and 3% over last week.

 

 

Poultry

Whole birds were up this week as supply continues to tighten. The breast market was very strong again as the breast market continues to be the biggest mover again this week. Wings should continue to be available once we get through Super Bowl week spike. Tenders were up and that market had stayed sold. Dark meat was flat.

Pork

Bellies continue to move higher following more of a seasonal trend, expect demand to drop off causing concessions. Butts are expected to hold up for the next few weeks and remain stable. Ribs are trading sideways at the moment as demand is steady but supplies are still tight. Hams were sold off this week as exports to Mexico are down. Trimmings are trading sideways at the moment.

Beef

The week's market is under pressure, due to larger supplies and lackluster demand. The call for the market tone for remainder of this week is barely steady to lower. Rib and tender availability are outpacing demand. Strips are in better shape, but overall market pressure could drive prices lower. End cuts (Chucks/rounds) are under pressure as well, due to increased productions.

Dairy

The block, barrel, and butter markets are down for the week while the cream and eggs market are up due to continued bad weather across the county causing a shift from retail to foodservice.

Grains / Oil

Higher crude oil, dryness in South America, higher palm, and large trading volume all contributed to higher soybean oil prices las week and Canola oil, too.

Seafood

Record low harvest for Gulf Oysters due to mortality rate with several key fishing areas being shut down in the Texas waters. Oyster companies are scrambling to acquire raw materials to freeze for the half-shell market. Supplies will be tight in the coming months. Yellow fin tuna fishing remains slow. Inventory in the US is short.

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

Market is adjusting as volume should start to pick up on both the east and west coasts.

Avocados –Alert

Size curve is peaking on 48/60ct with alarmingly lower numbers of 70ct being seen in the pack. Reduced harvest in Mexico as Super Bowl ads have been made. Potential for shortages in small sizes as packs seem to reflect less 70ct and less being seen quoted on the spot market. More California harvests underway as stronger markets continue out of Mexico.

Broccoli & Baby Broccoli

Supplies out of CA, AZ and Mexico are improved this wee with good supply to meet all demand.

Brussels Sprouts

Good availability on conventional and organic sprouts. Markets continue to adjust as they come down from the previous elevated market conditions.

Carrots-Alert

Carrot suppliers remain at max capacity on their snack pack carrots. Market will be shorter and limited in supply as a result. Jumbo carrots are very limited out on the west coast. Better supplies available out of GA. Expect very active carrot markets for the month of February.

Cauliflower

Stronger markets this week as MX is short on cauliflower. Lower yields are also being reported out of CA and AZ. Expect to see unsettled market conditions for the next 2-3 weeks.

Celery Value Added –Alert

Value-added Processed (sticks, diced) celery is under and demand exceeds supply situation due to capacity constraints. Commodity supplies are doing better out of CA, AZ, and MX.

CornAlert

Florida corn growers around the lake took a big hit with the cold weather last weekend. Growers are out harvesting corn that is in good condition, but short term does not look favorable for the balance of the winter crop.

Green Beans

Markets still active due to lighter supplies out of Florida. Mexico volume is steady for now but will start to decline in the coming weeks. Overall demand is lighter this week.

Green Onions

Continued improvement continues to be seen. Full market relief is not expected until till the middle of February.

Hot House

Campari tomatoes short in supply and peppers are becoming snug due to cold weather.

Mushrooms-Alert

Demand continues to outpace available supply on all mushrooms. Supplies remain challenged and the lack of available peat moss for production needs continues to be a major concern. Improvements not expected for the foreseeable future.

Onions-Alert

Market continues to be active on short supplies on all colors, in particular Reds. Mexico expected to start crossing some Reds into Texas as early as next week. Value Added/Processed Onions- are in a demand exceed supply situation and all are
being held to averages due to capacity issues coupled with supply concerns based on sizing issues of raw product. This would apply to whole peeled, diced, sliced and slab processed yellow and red onions.

Peppers, Chillies – East

Florida hot pepper supply lighter due to cold weather, quality good and demand strong. Growers need time to assess damage. Mexico production steady supplies with stronger demand on Serrano.

Squash

Yellow squash extremely short supply and will remain short for a few weeks. Market is strong. Mexico production on yellow squash will remain tight this week.

Fruit

 

Bananas

Demand is good. Supplies are lighter due to colder than normal weather and low humidity in the tropics. Transportation is also negatively impacting volume.

Citrus

Lemons: Demand is steady with good availability on all sizes.

Oranges: Sizing is lighter on 88, 113 and 138 counts and will continue to lighten through the season.

Lime: Supply continues to lighten through the season.

Grapes

Import arrivals from Peru and Chile, have been very light due to logistical delays shipping and off-loading. Most all fruit is coming into the east coast with little fruit hitting the west coast. We are expecting improved supplies by the end of the month.

StrawberriesAlert

Florida is still in a demand exceeds supplies scenario. As we work our way through the Valentine’s Day and Super Bowl pull supplies will begin to equalize with demand. Florida still has the fewest number of supplies and continues to be in a demand exceeds supplies scenario. California has had better growing conditions this week and supplies will continue to improve as we work our way through the week. Texas will continue to have adequate supplies this week and going into next week.