Beef
Cattle slaughter projected slightly lower but fed beef weights points to +2.5% gains y/y through November. This points to higher fed beef supplies for all Q4. USDA forecasts fed beef production in Q4 down just 35 M Lbs.
October 10, 2024
Download Our PDF for this report
Market Headlines
Poultry
Bigger birds, better hatchability, and larger egg sets are allowing extra supply on the market, especially in the boneless market. Tenders and breasts are seeing increased supply on all sizes. Wings are seeing extra availability on all sizes. Dark meat demand remains very good. Whole birds are mostly balanced.
Pork
Butts both Bone–in and boneless are trading near established price levels. Loins are barely steady–as chop demand has decreased. Ribs are steady. Bellies are steady and market has settled. Trim is steady to higher for supply.
Beef
Ribs are ticking higher, as buyers need to restock. Strips are mirroring ribs, while top butts weak tone has slowed. Tenderloins continue to muster strength, as packers continue to raise prices. The chuck and round complex are leveling out for the time being due to roast ads and change of the seasons. Grinds, w/reduced harvest, appear to have allowed reduction in inventory.
Dairy
Shell egg markets are up this week. California and Northwest markets are up. Many buyers, anticipating a potential market uptick, are looking to secure larger positions in advance of any price increases. The Block & Barrel are decreasing. Butter is down.
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
Ports of Miami are closed due to Hurricane Milton which will cause unloading delays resulting in limited supplies of Peruvian asparagus this week with next week arrivals market is expected to decline. Mexico is still experiencing heat, some quality issues but improving.
Bell Peppers
East – Green up as northern harvest is ending and limited availability in Georgia. Red and yellow are limited in the east.
West – Light supplies of green with an increasing market. Increasing supplies of color pepper was lowered the market.
Broccoli
Lighter supplies due to the heat. Demand has been good, and the market is firm and looks to be trending up.
Broccolini/ Sweet Baby Broccoli
Supplies are extremely limited from all suppliers due to weather–related quality issues. Currently demand is exceeding supplies
Cauliflower
Market is steady but seeing some quality issues impacting yields that could move this market up if demand picks up as supplies are just moderate.
Celery
Market mostly steady to a bit higher on moderate supplies. Quality has been reported as good.
Cilantro/Parsley
Market up on Cilantro. Parsley is mostly steady on moderate supply and demand. High heat in the forecast will likely impact yields and push these markets up.
Hurricane Helene/Milton
Damage is still being assessed on the impact for green beans, corn, cucumbers eggplant, bell peppers and squash. With Milton now going through Florida this will further impact a number of these items.
Lettuce Iceberg
Demand is moderate to good, and supplies are a bit tighter on lower yields, market is up a bit. Extended heat expected to bring on some tip burn.
Lettuce Romaine
We should see markets tighten up as quality defects and lower yields are coming in from the fields due to the higher than normal temps in the Salinas area. Hearts have strong demand and moderate supplies, market remains firm.
Onions
Supplies are good on new crop yellows and reds from Washington and Idaho. Demand is good. Quality has been good. Prices are lower on all colors.
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. Markets are lower.
Squash
East – Squash prices will continue to trend up. Quality will vary depending on GA harvest region. Overall quality will be good.
West – Stable supplies with increased demand, market is slightly higher. Quality is good.
Tomatoes
Supplies are steady on grape & cherry varieties. Extra–large round market availability is tight, but large and medium sized round fruit is readily available. Roma tomatoes are on alert status due to low availability both east and west.
Fruit
Avocado
Expect to start seeing better supplies of fruit going into the weekend. All suppliers are still catching up from the shortages caused by previous Hurricane. Category 2 fruit remains in short supplies, demand exceeds.
Citrus
Lemons – Demand for lemons is steady. The coastal district is winding down, while the harvest in the desert has begun for several suppliers. Chilean imports still have a few weeks to go and peaking on 200s and 165s. Desert district is peaking on 140s, 165s, 200s followed by 115s. Central CA district should start late to mid–October.
Oranges – The strong demand for oranges continues and supplies remain extremely limited. Demand exceeds supplies. Import volume will be limited. No relief until the California Navel Orange season starts late October/early November. Subbing to alternate sizes is needed to fill orders.
Limes – The lime market is trending downwards. Recent rains have caused new crop to gain size, mostly in 200’s and 230’s. Less volume on 250’s and still very limited volume on 110’/150. Improved overall quality.
Grapes
Supplies remain good and quality good as well. Not much change expected for the next 2 weeks, market is steady.
