Beef
The spread between the choice/select cutout as reported by the USDA was the widest it has been all year at $.27 last week. Foodservice and retail have shifted away from buying select and more towards choice over the past decade.
November 1, 2024
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Market Headlines
Poultry
Bigger birds, better hatchability, and larger egg sets are allowing extra supply on the market. Breast meat has started to even out. Jumbo tenders continue to see good availability. Wings are seeing extra availability on larger sizes. Dark meat demand is starting to supply increases. Whole birds are mostly balanced.
Pork
Butts both Bone–in and boneless are trading near established price levels & are steady. Loins are mostly steady–again, demand continues to be down. Ribs are mixed–spareribs are ramping up for New Year’s. Bellies are becoming unstable as supply is becoming uncertain. Trim is also unsteady, as 42’s have availability and 72’s remain high, market expected to fall soon.
Beef
Packers are seeing better margins with the recent increase in prices over the past few weeks. The main challenge continues to be the grade as prime and upper 2/3 choice remain very limited across most cuts. Ribs and PSMOs are still racing toward their seasonal highs. Ball tips and Top Sirloins are two cuts which present opportunities as packers look to push both.
Dairy
Shell egg markets are up this week. Supplies remain tight to short across most regions. With the industry flock still below 310 million birds and weekly inventories lingering at a decade low. The Block & Barrel is up. Butter is down.
Grains / Oil
There was a lot of volatility for soybean oil futures, ending in the week being much higher. There is uncertainty surrounding the upcoming elections and the possibility of tariffs on used cooking oil, which effectively would cause increases in demand for US soybean oil. Canola oil is higher.
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
Market is active with smaller sizes lower and larger sizes steady to higher. Peru production is slightly better, and MX has hit peak volume and will start to trend down in production leading into Thanksgiving.
Bell Peppers
East – Green bells very short supply, quality good and market extremely high. Red and yellow bells are extremely limited.
West – Oxnard winding down, Coachella and Mexico starting up. All peppers, green/red/ yellow short supply next several days. The market is up due to shortage.
Broccoli
Market has firmed up quickly as Salinas is winding down and weather is impacting yields. Cooler weather in the forecast will only slow growth further and push market up. Value added production is low and struggling to meet demand.
Cauliflower
Market firmed up quickly as Salinas is winding down and weather is impacting yields. Cooler weather in the forecast will only slow growth further. Value added production is low and struggling to meet demand.
Celery
Market up a bit as demand has picked on moderate to good supplies. Quality has been reported as good to very good.
Cilantro/ Parsley
Market a higher on both Cilantro and parsleys as we get closer to the move South and yields are lower. Quality is fair to good.
Corn
East – Supplies are very limited, and the market remains strong.
West – Supplies are very light to non-existent, and quality is fair, markets are elevated.
Lettuce Iceberg
Supplies are getting tighter as Salinas winds down. Weights are on the lighter side, and cooler weather are impacting yields. Market has firmed up quickly.
Lettuce Romaine
Supplies are getting tighter as Salinas winds down. Weights are on the lighter side, and cooler weather are impacting yields. Market has firmed up quickly on romaine and hearts.
Mushrooms
Supplies are tight in particular cremini and portobellos. Market is a bit active.
Onions
Supplies are good on new crop yellows and reds from Washington and Idaho. Whites are lighter in supply this season. Demand is fair on yellows but good on reds and whites. Quality has been good with good sizing. Prices are steady on Yellows and reds but higher on whites.
Potatoes – Russets
Supplies are good on the new crop. The size so far is large with some growers being limited on small sizes. Quality is also good. Prices are slightly lower.
Squash
East – Zucchini and yellow squash supply better, quality good and markets a little lower.
West – California and Mexico in production steady supplies and quality is good
Tomatoes
The tomato market remains on alert status due to significantly reduced availability in FL due to weather. Availability also remains extremely light out of CA and Mexico. Markets are expected to remain volatile until December.
Fruit
Avocado
Large fruit remains limited in supply market remains firm. The current size curve are heavy on 60/70/84ct, leading the market to decline on those sizes. Expect prices to begin to stabilize, as a result of lower demand.
Citrus
Lemons – Demand for lemons is steady. District 3(desert) has begun for most suppliers. Chilean imports still have a few weeks to go and peaking on 200s /165s. Desert district is peaking on 165s, 200s, and 140s followed by 115s.
Oranges – Navel oranges have officially started. Volumes will be extremely limited as the industry continues to fight color break. Crop peaking on small sizes 163s/138s/113s then 88s. 72s and larger will be short in supply.
Limes – Market stable on the mid to small sizes. The 110s/150s market has eased off but looks to be leveling off now. Rain in the forecast Friday and into the weekend. As quality has improved, the supply on #2s has gone down.
Grapes
Reds in good supply and quality. Greens also in good supply and quality, but supply expected to drop off drastically in November.
