March 25, 2022

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Market Headlines

Vegetable Oils

Slight reduction last week for soybean and palm, but still in record high territory. Lack of sunflower oil has caused other varieties to be sought after. Corn oil is extremely hard to find.

Seafood

A large part of the Russian crab is unsellable due to the conflict with Ukraine and Russia. A suggested substitute item for Russian snow crab is Canadian snow crab.

Eggs

Due to avian influenza being identified in 3 of 4 flyways, infected laying chickens are being euthanized and causing egg prices to rapidly increase with declining stocks.

Poultry

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 becoming more available.

Pork

Butts continue to move upwards with strong demand in the market. Loins are flat for next week as demand and supplies are unchanged. Ribs are also trading sideways for now, with steady demand. Fresh bellies moved up slightly, expected to continue to trend upwards. Hams are sliding down for next week. Demand for trimmings has weakened, expect this market to trend lower.

Beef

The beef complex tone continues to be one of optimism, as the industry is garnering strength, which is correlated to two things: reduction in harvest and the approach of spring/summer demand. Overall, pricing should climb steadily unlike last year’s volatility. Middle meats are increasing in price, as demand for ribs, strips, & tenders improves. End cuts continue to chop sideways.

Dairy

The block and barrel markets are down for the week due to weak milk production. The butter market is down for the week. The egg markets remain up for the week due to Avian Influenza concerns.

Grains / Oil

As crude oil fell last week, so did soybean oil. Palm oil also decreased last week despite having less stocks. Corn, wheat, and soybeans were all lower, too. Regarding Canola there was a strike in Canada for their rail line which could have led to more transportation issues, but it was quickly resolved.

Seafood

The quota for the 2022 Canadian snow crab fishery in The Gulf of St. Lawrence is 70,000 lbs. This is a 34% increase from the quota last year. The domestic scallop season starts April 1st and will start to replenish thin inventories. Domestic shrimp is now off season until May and some sizes headless shrimp may not be available.

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 steady with good volume from Mexico. Quality is good to very good.

AvocadosAlert

Mexico-Market is active this week, with the industry on pace to harvest about 30% less fruit than last week. The size curve is showing greater percentages of small fruit, with less 48ct and larger sizes being seen.  CA- Market is active with very few large sizes available. Lack of size is attributed to very little rain over the last few months. December brought greater than historical averages, but it has been relatively dry since. Very little #2 fruit being available.

Broccoli & Baby Broccoli

Good supplies for now on broccoli and baby broccoli (broccolini. Market is expected to see a change in the next 2 weeks as lower supplies are in the forecast the week of April 4th.

Brussel Sprouts

Good supplies continue conventional and organic sprouts.

CarrotsAlert

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.

CauliflowerAlert

Active market conditions remain. Expect to see unsettled market conditions for the next 2-3 weeks.

Celery Value AddedAlert

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.

CucumbersAlert

Cucumber supply light in Florida, some more domestic growers have begun as the Hondurans have finished up. Mexico supplies still not plentiful, but they are available stronger market prices. Active market into next month.

Garlic

Supplies of CA Garlic continue to dwindle down. As a result, more product from Argentina to be seen in the coming weeks.

Green Beans

Florida bean supply good, quality good, demand good, and market steady. Mexico very short supplies as the northern growing region is not producing yet.

Iceberg, Leaf and Romaine

Markets on iceberg, romaine and romaine hearts are starting to adjust as demand has calmed and new growing regions have started. Market is expected to be unsettled still for the next 2-3 weeks, as the transition from AZ to CA is in full swing

MushroomsAlert

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.

Onions-Alert

Red VA onions remain short and limited in supply out of CA. Commodity- Red onions are tight and suppliers are holding to averages with the strong potential for prorates. Storage quality all colors is poor to fair.

Peppers, red and yellow –Alert

Green, red, and yellow bell peppers are limited and short in supply on both coasts.  Chili peppers remain short in supply as well.

Squash Alert

Active markets on both yellow squash and zucchini on both coasts.

Fruit

Citrus

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:  Supplies remain tight and do not expect much availability on most sizes and grades until the end of this week. The sizing coming in is (55%) 230/250/275s with 33% being 250s. 175s and larger extremely short. #2 limes continue to remain extremely short and limited in availability.

Strawberries & Mixed Berries

Market will continue to be tight on strawberries and is anticipated to remain this way through the Easter Holiday. Mexico and Florida seasons are ending sooner than expected. Shippers are starting to transition to California being the main producing area in the coming weeks.

Watermelon

Supplies are light from Mexico and Central America due to growing are transitions.  Active market conditions are expected as a result.