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February 4, 2022

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Market Headlines

 

Beef

Cow pickers were quick to point out that the availability of cows was tighter than expected. This is the source for many grinders and patty makers for 90% lean trimmings causing higher grind prices.

Seafood

The new Mahi-mahi fishing season is ending in a few weeks in South America. The 2021/22 attached are dismal and below average, resulting in higher raw material costs with reduced landings.

Soybean Oil

There has been a 15% increase in soybean oil since one month ago. This is driving Canola and palm higher, too.

Pork

Butts are gaining strength again after a market reset and strong buying has come into play. Loins as well are seeing increased demand causing Bellies are continuing on an upwards trend as availability is tight. Hams are coming down again but are expected to go back up with increased labor challenges. Trimmings remain firm.

Dairy

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

Grains / Oil

Much higher soybean oil market last week due to crude oil, and palm moving higher. Crude is much higher due to tensions in the Black Sea region between Russia and Ukraine. Also, there is some more dryness in South America. Canola is moving higher along with soybean oil.

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 active. Peru volume is declining, and Mexico will be the primary source. Volume is improving from Mexico.

Avocados –Alert

Small fruit is seeing better demand due to a decent domestic market in Mexico. California is packing in light numbers and will increase production each week. Do not expect to see any kind of significant volumes until after the Super Bowl. Colombia is arriving to the east coast. Stronger market activity as demand picks up for the Super Bowl.

Broccoli and Baby Broccoli

Supplies out of Mexico are challenged this week. Improved supplies out of AZ and CA should be sufficient to cover all demand needs.

Brussels Sprouts-Alert

Supplies are finally starting to see improvement out of Mexico. Markets are adjusting and over the next few weeks we should see the pipeline start to fill back up for the supply chain.

Carrots-Alert

Carrot suppliers remain at max capacity on their snack pack carrots. Market will be shorter and limited 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.

Celery Value-Added-Alert

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

Green Beans

Florida harvesting in multiple regions, quality is hit and miss within the state. Demand is sluggish a result of post-holiday markets. Expect higher pricing on good quality beans. Mexico volume steady with moderate demand after the holiday and lack of promotions. Market anticipated to get stronger going into the weekend.

Corn

Florida market is extremely elevated due to frost and freeze damage. Growers are assessing fields to evaluate the damage. It may take a few days to see the effects of the cold. Mexico production light to moderate and prices have increased because of the Florida freeze. Expect demand to exceed supplies. 

Green Onions

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

Peppers, Chilies – 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. 

Peppers Green Yellow, Red-East

Florida pepper supply to remain low this week due to this past weekend’s freeze affecting the Immokalee region. Growers need time to assess damage. Mexico has good supplies for the next few weeks; demand has increased significantly due to the Florida freeze. Expect sufficient volume to supplement where necessary. 

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

Market continues to strengthen on short supplies, in particular all red onions. Some yellow onions are starting to cross from Mexico, but red onions are still 10 – 14 days out. Value-Added/Processed Onions are in a demand exceeds 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. 

Hot House

Cucumber sizing is heavy to Small/Medium, limited on Large. Campari tomatoes short in supply.

Fruit

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: Demand has decreased causing an elevated amount of fruit over the last 7 days. That volume has caused a temporary stop to what appeared to be a market headed much higher. Still, expectation is February will be active and short 

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. 

Strawberries

Production out of Florida continues to be challenged due to colder weather patterns. Out of MX and CA better supplies are being seen. The next 2 weeks will be a very high demand time for both the Super Bowl and Valentine’s Day. Stem production is still expected to be limited and advanced ordering is recommended.