Seafood
Portico Atlantic Cod is transitioning to new raw materials due to high demand across all SUPCs, reflected in the pricing changes. Continue to talk with suppliers when bringing in new, large-volume customers.
July 26, 2024
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Market Headlines
Poultry
Chicken Wings have started to loosen up on the open market, especially in the small size. Tenders continue to be mostly steady. Jumbo and medium breasts were mostly even. Small breasts are seeing some excess supply. Dark meat demand remains very good. Whole birds are mostly balanced.
Pork
Butts market continue to decline. Loins are steady. Loins are steady for B/I. Ribs overall continue to dive downward as supply has increased. The belly market is still unsettled but may be leveling out. The bottom has fallen out of trimmings, supply is getting tighter and 72’s & 42’s continued to increase significantly on the week.
Beef
The dog days of summer are here, and packers cannot seem to get out from under growing inventories and stagnant demand. Tenders, ribs, and strips continue to challenge packers. Meanwhile chucks and rounds for the most part are holding value due to lean trim shorts and demand from consumers for affordable ground beef.
Dairy
Shell egg markets are up this week. California and Northwest markets are up. Farm in Colorado was identified as HPAI positive over the weekend with an expected loss of approximately 1.3 million birds at least primarily cage free. The Block & Barrel are increasing. Butter is down.
Grains / Oil
Soybean oil moved down last week, albeit, very little, with increased supply reported and very good crop conditions being reported. Canola moved higher last week as European rapeseed is struggling with drought and Canadian oil is more in demand. Palm exports have increased, but so has palm production.
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
Supply has improved somewhat, large sizing remains short, but volume is improving. Weather issues out of Mexico could cause supply issues due to quality concerns, and cold nights in Peru. Markets have declined slightly.
Broccoli
Market and demand decreased this week. Supplies are going to be lighter for the next couple of weeks, but demand is flat keeping the market lower.
Brussel Sprouts
Demand is exceeding supplies and market pricing continues to move higher. Seasonal quality and transitional challenges have significantly reduced yields.
Cauliflower
Good to moderate supplies for next week or so, but with lighter demand it’s keeping markets on the lower end.
Celery
Market softer as supplies improve and demands remains steady.
Cilantro/ Parsley
Cilantro into good supplies for the next two weeks. Demand has been moderate; the market decreased this week. Market dropping as Italian Parsley supplies continue improving. Curly parsley market lower as well.
Hot House
Peppers, cocktail, Heirloom and Beefsteak tomatoes demand exceeds supplies.
Lettuce Romaine
Market mostly steady as supplies are in full swing for both romaine and hearts. Quality is good.
Onions
Supplies are good on yellows, reds and whites in New Mexico and California. Demand is good. Quality is good. Prices are declining.
Bell Peppers
West – Marginal quality and condition due to heat. All Bell Peppers are in demand exceeds.
East – Production from multiple growing areas is providing increased availability for bell peppers. Expect some easing in pricing.
Potatoes – Russets
Supplies are light on 40–50 ct from most suppliers. 90–120 ct are plentiful. This now looks to be the case through the summer months. Demand is following supply accordingly. Prices are steady on large and lower on smaller sizes. Quality is good.
Tomatoes
Round availability remains stable both east and west, but roma markets continue to be elevated due to low availability and lack of production out east. Cherry/grape markets have stabilized due to additional availability.
Squash – Alert
West – High temperatures pushing market higher and supply lower as effects of heat including bloom drop, scalding, wind scar and weakened shelf life come into play.
East – Yellow squash and zucchini is pretty flat right now. There is product from GA up to Michigan. Quality has been pretty good.
Lettuce Iceberg
Market slightly lower as supplies pick up. Quality continues to improve, but an increased presence of insects could be brought on as we get into higher temps in the region.
Fruit
Avocado – Alert
After two weeks of falling prices, markets have started to stabilize as overall production has been limited by heavy rains in Mexico. California production continuing to fall going into August. Prices have stabilized in line with the MX market.
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).
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
Red’s are starting to get tight as the Flame variety harvest is wrapping up, and with the heat the later varieties are delayed so we expect to see demand exceed supplies over the coming weeks. Green supply is better and market steady.
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.
