Beef
Ground beef will be a focus as we move through the short holiday harvest weeks. Reminder to place po’s with tentative quantities through January 8 delivery week so that packers can plan appropriately for our needs.
November 10, 2023
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Market Headlines
Poultry
The chicken industry is in peak growing season. Breasts have good supply on all sizes, but we are seeing tightening. Tenders are more available especially in larger sizes. Wings of all sizes have a steady supply, but we are seeing some softening on demand. Dark meat is staying strong. Whole birds are mixed to steady.
Pork
Overall, all primal markets are trending down as demand for pork is weak. Butts continue their descend and will continue to push downward. Boneless loins are following the same trend as butts and are seeing weak demand from retail and foodservice. Ribs are also coming down as booking demand is down. Bellies are still seeing downward pressure as supplies push out cold storage inventories.
Beef
Larger harvests, increasing prices, and lackluster demand has left packers with unsold positions. The market is trading softer. Upper 2/3 or CAB product remains in a well sold position across most cuts. Demand continues to be the wildcard. Look for short supply the week of Thanksgiving to give a slight bump to an otherwise dreary market.
Dairy
Shell egg markets are up this week. Barrel & Block markets are decreasing. Butter is down. November Cream and Culture pricing will reflect price increases.
Grains / Oil
Soybean oil continued to fall last week as traders continue to sell their positions and buy soybean meal. Demand is good, and energies are starting to move higher. Biofuel demand is very good, so expect some higher trading. Canola seed is lower with poor export demand. Palm is flat to higher with smaller demand and good stock.
Seafood
Peru reportedly just re–opened their 2nd anchovy season 3 days ago; supply remains tight. The imported shrimp market is still experiencing historic lows, but prices are expected to level off soon. The Tilapia market is plateauing, after inventory challenges. Going into the holidays, expect increased usage on shellfish items.
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 higher on the west coast but expected to even and hold. East coast is lower and expected to hold as Thanksgiving pulls are lower.
Broccoli
Supplies are slightly increasing but regional growing regions will end soon causing more demand to the west coast and keeping this market fairly steady.
Cabbage – Green & Red
Supplies and quality good on both red and green. Market mostly steady on both.
Cauliflower
Market is mostly steady with good supplies and Yuma looking to start in a couple of weeks.
Cilantro/Parsley
Cilantro and Parsley supplies and overall quality look good. Market is holding mostly steady for both.
Green Beans
East Market has rapidly increased this week; Georgia was frozen out last week and Florida volume is very light. No relief anticipated until the end of the month. West Market has increased with pre–Thanksgiving pull and short supplies.
Lettuce & Romaine
Market steady with good overlapping supply from now multiple growing regions. Good volume and quality this week on Romaine and market holding steady. Hearts, seeing active markets as transition begins and supplies are a little tighter.
Mushrooms – Brown
We are now starting to see demand exceeding supplies on Portobello mushrooms along with Crimini mushrooms. Expect these shortages to persist into mid–November.
Onions
Onion quality is good to excellent, and we expect a good strong storage season. All colors/packs are available in good supplies. This market is mainly steady.
Peppers Red & Yellow – Alert
Green bells on both coast into good volumes and quality reported, with the market steady to lower. Red and yellow peppers on both coast are extremely short in supplies.
Potatoes
Packing sheds will start to ramp up production in preparation for the holiday pull. The quality is very good this year. Prices are mostly steady.
Snap & Snow Peas
Market active on both snap and snow as supplies are limited. Snap peas improving and should be closer to meeting demand, expecting demand to exceed supplies on snow peas as many orders are waiting on field deliveries to arrive.
Squash
East – Zucchini and yellow squash plentiful, quality is good, and market low. West Good supplies, steady market, good quality. Should see demand increase and cause a spike in the market.
Tomatoes
Overall Market have a firmer feel to it, California supply is done, Mexican supply has started tighten, and Eastern availability is transitioning over to Ruskin/Palmetto regions.
Fruit
Avocado – Alert
Volume is beginning to improve, and the market is declining on larger sizes and smaller fruit currently remains steady at lower levels. #2 fruit continues to be short in supply.
Blackberries
The main growing region in Central Mexico has suffered some major impacts to their production due to weather. This is expected to be long term and demand will exceed supplies.
Citrus – Alert
Lemons Alert – Lemon supplies are getting better this week out of the desert and Central Cal. Heavier pack out to choice grade in the desert compared to 70–80% fancy grade in Central California. Peaking on 140s, 115s, 165s and 95s.
Oranges Alert – The Valencia crop is coming to an end, and this will be the last week of shipping. Navels are starting in a light way this week; with more coming online.
Limes Alert – Supplies of large fruit continue to be limited with growers dealing with weather events this week. Overall supplies are meeting the lower demand bringing some minor price relief.
Grapes
Some tiered pricing showing up in the market due to late variety quality and availability. More imports are showing up on the east coast. California is now looking to be able to stretch through to full import season.
Pineapple
Volume is returning to normal. Production curve has switched back to large sizes. 25% of harvest is on size 5. Market prices have dipped but will be moving up with the coming Thanksgiving demand.
