Beef
In October new highs were set on live cattle weights at 1424# and dressed at 869#. Historically, cattle weights peak in the winter, so we should expect to see new highs set over the next 3 months.
November 8, 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 evened out on all sizes. Jumbo tenders continue to see good availability. Wings are seeing extra availability on larger sizes. Dark meat demand continues to be strong. Whole birds are mostly balanced.
Pork
Butts both Bone–in and boneless are steady but have seen some increased export interest. Loins are mostly steady with some support within bone–in loins. Ribs continue to see some early in the holiday season support. Bellies are becoming unstable as supply is becoming uncertain. Trim is also unsteady, as 42’s have availability and 72’s decreased sharply.
Beef
The choice cutout moved lower last week. Larger slaughters, heavier cattle, and price resistance are all factors putting additional product on the market. Chucks, round and grinds are the putting the most pressure on the cutout. Prime and upper 2/3 middles continue to be the toughest to find. As Thanksgiving approaches the tone of the beef market is expected to be steady to lower.
Dairy
Shell egg markets are down this week except for mediums. Availability has eased, significantly reducing open-market bid volumes from the triple–digit levels seen in late October. Egg products market remain stable mid–week there is buying interest for both whole egg and whites.
Grains / Oil
Strong increases last week for soybean oil. Crude oil fell, beans were flat, and meal was down. Soybean oil exports have risen. This year’s harvest is complete, but oil stocks are still not as strong as expected. Competitive oils like palm are helping push soybean oil higher. Canola is following soybean oil.
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 steady but expected to increase slightly as volume declines out of Mexico. Peruvian supply is strong and quality from both areas are good. Demand is increasing and will do so into the 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
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.
Green Beans
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 lighter than normal due to growing conditions. We are seeing good order coverage from suppliers, but the market remains short on cremini’s and portobellos.
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.
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 tight and prices holding firm. Small sizes have hit bottom and even bounced up slightly, due to retail promotions. Category 2 fruit is still tight. No concerns with quality or dry matter currently.
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 orange harvest ramping up this week. Crop peaking 138s/113s with 72s and larger supplies remaining tight; putting more pressure on 88s. Market strong on 88s and larger.
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
Green and Red grapes continuing with good supply and quality. Supply on Reds looks to be good through November where we expect Greens to increase in price and shorten in supply going forward.
