Beef
Heifers are entering the US cattle supply as beef – dairy crosses, a concept that is gaining support from the industry. Prior, this was not as openly discussed or accepted, but has found industry support recently.
February 9, 2024
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Market Headlines
Poultry
With Super Bowl fast approaching the star of the market continues to be wings which are hard to find. Breasts availability has improved on all sizes. Tenders are becoming less available. Dark meat demand remains very good. Whole birds are mostly balanced.
Pork
Butts saw a slight lift due to increased amount of out-front buys. Ribs also saw some strength in the market especially spareribs and backribs. Loins are holding relatively flat as demand is steady. Bellies continue to be volatile and shifted down this week.
Beef
Packers paid more for cattle last week and are in turn trying to raise replacement cost. Chucks and rounds continue to be steady. Ribs continue in correction mode keeping buyers cautious. Strips continue steady as well, w/ CAB and Sel carrying premiums. Tenders overall remain soft. Grinds are topping out and should correct in the upcoming weeks as supplies build.
Dairy
Shell egg markets are up except Northwest California who is flat. Block & Barrel cheeses are increasing. Butter is up.
Grains / Oil
Soybean oil futures started last week on a high note but moved back down toward week’s end. The higher move was due to higher energy markets, but the fundamental good supply of beans, etc. helped keep the soybean futures in check. Palm moved higher with production issues and Chinese demand, while Canola is flat.
Seafood
Imported Shrimp market is slowly firming up and expecting to see pricing creep up going into Lent. Dungeness crab season opened last week in California and suppliers will start seeing new inventory from new season. Expect some discounts on last season product. Dry weather this summer has destroyed the stock of domestic Crawfish.
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
Arugula
Supplies are very tight due to yellowing and causing lower yields. Expect supplies to be short another week or so.
Asparagus
Market has declined significantly to match rise in volume swings into full production. Supplies are expected to hold strong, through March. Jumbos remain somewhat limited, but all other sizes are plentiful.
Bell Peppers – Alert
East – Green bells extremely limited, demand very strong, and market very high.
West – remains short, cold is holding back coloring. Eastern low supply is causing excess demand, keeping the market elevated. Yellow impacted the most.
Broccoli
Market mainly steady with good supplies and moderate demand.
Broccolini
Rain has impacted harvesting and yields are down on all varieties, demand exceeds supplies.
Cabbage – Green & Red
Supplies and quality good on both red and green. Market lower on green and steady on red.
Cauliflower
Market mainly steady with good supplies and moderate demand.
Celery
Market mainly steady with good supplies and moderate demand.
Cilantro/ Parsley
Cilantro and Parsley supplies and overall quality look good. Market mainly steady for on Parsley and cilantro up a bit.
Corn – Alert
East – Supplies out of Florida continue to be dire. Production has been limited and quality has been poor overall. Most harvests are to cover contracts; with little to no production for the open market.
West – Very little supply, demand is moderate, market is high.
Green Beans – Alert
East – Beans supplies lighter, demand weaker, quality good and market a little lower, but still high.
West – Limited supplies good demand market steady.
Lettuce & Romaine
Market mostly steady. Good volume available with good quality. Romaine market holding steady, and the heart market is steady on good supplies.
Onions – White – Alert
White onions are still in alert status. No quality inventory is available from Idaho. Washington white supplies continue to decrease, how long they will last is currently unknown as very high pricing continues to drive demand down. The onion market remains very strong as demand continues to outpace supplies. Mexico is now at a week to ten days away from having any volume to ship.
Potatoes – Russets
Supplies are good for all sizes and demand remains slow. The market is steady. Quality is good.
Squash – Alert
East – Zucchini supplies better, demand lighter and market lower. Yellow squash demand is good, and market very strong.
West – Moderate demand and zucchini market lower, others steady. Supply has improved but will not do so significantly for another 2 weeks.
Tomatoes – Alert
Round and roma varieties are no longer on alert status due to increasing availability out of Mexico. Grape and cherries remain on alert status; however, volume has improved slightly with additional volume out of Mexico.
Fruit
Avocado
Seeing higher prices on 48’s and larger. Smaller sizes will be steady this week and next.
Citrus – Alert
Lemons – Alert Central California will be impacted by this week’s rain. Shortages and gaps in sizes will most likely come next week. Packinghouses are preparing for the stalled harvest.
Oranges – Alert Rain now has slowed harvest on the already limited supplies of 88s, 113s and 138s in both grades.
Shortages and substitutions will become the norm.
Limes – Anticipate overall supplies to significantly tighten up in the next week as growers work through their aging inventory. There is not as much fruit on the trees in Mexico for the current crop.
Grapes – Alert
East – Supplies out of Florida continue to be dire. Production has been limited and quality has been poor overall. Most harvests are to cover contracts; with little to no production for the open market.
West – Very little supply, demand is moderate, market is high.
Strawberries
Valentine’s Day demand and rain in California has created quite a challenge in the west. Orders are being supplemented with transferred product from Mexico which has also been delayed. Supplies will be a concern for 2 weeks.
