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Record markets for vegetable oils. Soybean, Canola, palm and Sunflower all seeing record highs. Argentina is restricting exports of beans, meal, and oil. Expect China to become a US buyer.
Record low harvest for Gulf Oysters due to mortality rate and several fishing areas being shut down. All Texas public fishing areas are closed. Oyster companies are scrambling to get raw materials to freeze.
The jumbo wing market has been dropping and supply is readily available. Tenders availability is tightening. The random breast market is very strong. Portion control breast have strong demand and have tight supplies due to labor. Boneless thigh meat price is stable but supply is tightening. Boneless legs meat is more available.
Bone-in butts continue to gain strength as demand from foodservice and retail has remained steady. Supplies on boneless butts are increasing driving this market back down. Bellies are still moving upwards as demand is still strong. Ribs remain relatively flat but should begin to trend up as the warmer weather approaches. Hams looked to have stalled and are now trading sideways.
The beef complex is one of optimism, as is apparent by pricing and availability being offered by packers. Reduction in harvest last few weeks, has helped reduce supply levels. Ribs continue to chop sideways, as buyers appear hesitant to extend themselves. Strips and tenders continue to reflect steady to strong tones for weeks ahead. End cuts are to fight to hold values.
The block and barrel markets are up for the week due weak milk production and current demand. The butter market is up for the week. The egg markets are up due to increased demand due to preparing for potential supply issues relating to Avian flu.
Higher exports, higher crude oil, higher Canola, and poor crop results in South America so far, are all putting upward pressure on soybean oil. Corn oil is moving higher with the lack of available sunflower oil. It will become difficult to source as the middle east is buying up what they can. Despite poor production palm was lower.
A large part of Russian crab is unsellable due to the conflict with Ukraine and Russia. Record low harvest for Gulf Oysters due to mortality rate and several fishing areas being shut down. All Texas public fishing areas are closed. Oyster companies are scrambling to get raw materials to freeze for the half-shell market.
Market softer on smaller sizes, mostly steady on XL and jumbo, as those two are shorter in supply. Peru imports expected to come back online late next week into Miami.
The market is being supplied by Mexico then California, there is a very limited number of Colombian avocados coming in. The supply of avocados will be good, and prices will be a bit weaker as the market looks to find a balance between the supply and demand. 60’s are the dominate size followed by 48’s and then 70’s then 84’s then the jumbo sizes.
Supplies are plentiful on commodity and value-added broccoli. Baby broccolini and broccolini remain short for some suppliers
Carrot suppliers remain at max capacity on their snack pack carrots. Jumbo carrot supply out of California is limited at best. Carton jumbo carrots are now unavailable till Mid May. Carrot sticks have now been impacted as a result of the overall shortage of jumbos, with the sizing on carrot sticks for some being reduced from 4 to 2 inches.
Active market conditions remain. Expect to see unsettled market conditions for the next 7-10 days. Quality is fair with occasional discoloration, and bruising being reported.
Value Added-Processed (sticks, diced) celery is under and demand exceed supply situation.
Commodity celery out of CA, and AZ is more active this week as well due to overall lighter supplies.
Active celery conditions expected through the end of March.
Import supply very light, Florida supply just starting and very light, quality is good. Mexico supplies very light due to gap in production with strong demand, expect limited volume. Market strong.
Supplies of CA Garlic continue to dwindle down. As a result, more product from Argentina to be seen in the coming weeks.
Florida bean supply decreasing, demand remains strong, market is increasing. Mexico in short supply as northern supplies are limited until the end of the month.
Very active and strong markets on iceberg, romaine, and butter lettuces for this week. Iceberg market continues to be active with limiting supplies being reported. Romaine markets also remain active with limited supply for both romaine liner, romaine hearts and chopped romaine.
West Coast Commodity Transition
The annual move from the desert growing regions to the CA Central Coast growing regions is on the horizon. Look for more updates over the next 4-6 weeks.
Shortages and active market conditions continue to plague the mushroom industry. All varieties are impacted. Conditions are not expected to change for the foreseeable future.
Northwest supplies continue to dwindle as growers wrap up for the season. Crossings from Mexico have been sporadic day to day, but Texas crop expected to start the week of Mar 28, which should help filling the void.
Green, red and yellow bell peppers are limited and short in supply on both coasts. Chili peppers remain short in supply as well.
Active markets on both yellow squash and zucchini on both coasts.
Lemons: Supplies are good with moderate demand. Sizing is peaking on the large sizes fancy grade. Pack outs are 75-80% fancy.
Oranges: Market is steady with moderate to good demand. Color and sugar are very good. Sizing is heavy to 72’s and larger fancy grade and lighter on smaller sizes choice grade. Pack outs are 75-80% fancy
Lime: Production remains low as costs are unsettled out of Mexico. Markets are anticipated to become more flexible in the coming weeks as small fruit becomes more plentiful. Large fruit is becoming increasingly scarce as the new production cycle begins harvest.
There will be a significant gap between small & large fruit going forward. Some groves are experiencing a loss of the new bloom due to cold temperatures and excess rain – which could ultimately impact the crop towards the end of April in terms of production/yields
Things will be tight on strawberries this week and we could see it stay this way through Easter. We have two regions ending sooner than anticipated in Mexico and Florida. High winds are slowing down and creating quality challenges with crops in Oxnard.
