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July 29, 2022

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Market Headlines

Beef

PRIME and CAB PRIME graded product continues to be very difficult to find; please make sure to open with a lead time of three to four weeks MINIMUM and large quantities and contracts are not likely.

Turkey

Avian Influenza is having its worst outbreak since 2015.

5.5 million Turkeys have been lost Making up 2.5% of the US Turkey population. Supply is extremely constrained with suppliers output reduced by 20-33%.

Chicken

Chicken wings are nearing a 1-year low for pricing and are readily available in all sizes.

Dairy

Both cheese markets were lower despite milk production being lower. Class III milk, however, is available for cheese production. Butter markets fell slightly last week with demand being steady. Shell eggs continued higher with strong foodservice demand and flat retail demand.

Grains / Oil

Soybean oil futures closed a little lower last week with lower crude oil, lower palm oil, and some good rains over a large portion of the growing region. Weather in Canada has been close to ideal for Canola and the crop scores are improving moving seed and oil prices lower.

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 is dealing with cooler weather and some port delays. Central MX is hot and dry, with Baja winding down affecting supply.

Cabbage – Green & Red – Alert

Out of Mexico and CA, green and red cabbage continue in limited in supply with active markets. Expect to see continued market volatility for the next 6 weeks.

Cilantro and IT Parsley – Alert

Stronger to active markets this week on all parsley and cilantro. Domestic supplies have been impacted by previous high heat in the growing regions. Limited supplies are being reported on cilantro and It Parsley.

Corn–Alert

Growing regions for corn are shifting to the Midwest, mid-Atlantic and northeast. Supplies remain very tight. Colorado has started and supplies out of California have been sporadic.

Eggplant – Alert

For the east coast, the supplies have improved on eggplant, however, out west, there are limited supplies with active markets due to less supply available and fewer plantings made for this season.

Fingerling Potatoes– Alert

Market continues to short with limited supplies for the 4-5 weeks.

Leaf, Iceberg, and Romaine

Markets are steady this week with quiet Steady markets on romaine, green and red leaf. On iceberg is more active this week. Many suppliers seeing issues with INSV again. Supplies industry wide are lighter.

Onions– Alert

Supplies in New Mexico and California continue to down trend. Wet weather in New Mexico has led to harvest delays and some crops are being left in the field. New Crop in WA should start about the second week of August with Idaho/Oregon the following week

Peppers – Green, Red, Yellow & Chili-Alert

Markets active on all types of fresh chili peppers as well as all red and gold bell peppers. Expect active markets for the next few weeks.

Russet Potatoes

The industry is facing shortages due to suppliers having reduced volume caused by the previous heat events that took place last June. The storage crop is currently coming to an end with significantly less volume that is needed to meet all demand.

Relief is not expected until mid- August when out the new crop out of Washington starts with Idaho to follow. Supply situation continues to be dire, and market continues to climb. Demand is exceeding supplies in all regions.

Tomatoes

Active markets continue on both cherries, grapes, and romas. Round market remains stable both east and west.

 

Fruit

Avocados–Alert

Mexico continues to try to control the volume of their fruit as they continue to have competition with product from Peru and Columbia. CA harvest continues to decline and is expected to be finished by the end of August.

Bananas –Alert

Supplies are still impacted from Guatemala due to tropical storm damage to the crop and transportation infrastructure. Supplies are lighter and demand is very good.

Blueberries–Alert

Limited supplies continue to be reported. The market remains active this week as projected supplies are not keeping up with current demand.

Citrus–Alert

Lemons: Market is stronger on fancy but steady on choice grade. California is heavy to small choice grade with lighter volume on large sizes and fancy grade. Fancy and some choice grade Imports from Argentina and Chile are coming into the East and West Coast at higher prices.

Oranges: Market is very strong. California Valencia’s are peaking on 88/72. Supplies are light and growers are limiting packing. Fancy grade Imports from Chile are arriving which is helping but demand still exceeds supplies on California Valencia’s.

Lime: Lower volume on good quality fruit expected into this week, utilization is down 30-40% due to stage of crop and recent weather conditions; rain expected to continue for the next 2-3 weeks, there will be a gap of good quality supply from old crop to new crop in Mid- August.

Pineapple–Alert

Demand is strong on lighter supplies due to typical lighter summer growth cycles. Growth has also been hindered by heavier than normal rainfall in Costa Rica. Sizing is very light on 5-6 count with some substitutions to 7 ct taking place.