Seafood
Imported shrimp are still seeing historic lows but are expected to level off going into the holiday season as inventory position for suppliers improves.
October 27, 2023
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Market Headlines
Poultry
The chicken industry is in peak growing season and bigger birds with more product is the result. Breasts have ample supply on all sizes. Tenders are more available especially in larger sizes. Wings of all sizes have good demand and steady supply. Dark meat demand is staying strong. Whole birds are mostly steady.
Pork
Butts declined again for the 6th straight week, and we expect this market to continue to decline with normal seasonal trends. Spareribs have increased demand but that should be short lived. We expect declines in the rib complex. Boneless loins are also seeing weak demand and will continue to decline. Bellies are continuing their steep decline with no support for this market in sight.
Beef
The larger harvest last week due to packers needing to fill orders. Prices increased on beef due to packers paying up for cattle. Ribs, tenders, and strips all climbed higher. Chucks and rounds continue to exceed expectations, as seasonal demand drive pricing higher. Grinds remain steady. Primal source grinds and 81% remain firm and are demanding higher prices.
Dairy
Shell egg markets are flat this week. Block & Barrel markets on the rise. Butter is down; however, indications are that the market will fall within the next couple of weeks. November Cream and Culture pricing will reflect price increases.
Grains / Oil
Soybean oil traded flat last week with focus on the latest USDA report, South American planting, and US harvest progress. South American harvest is behind due to very dry conditions. Canola seed prices fell last week on technical trading, and palm was flat with a good balance between supply & demand.
Seafood
Peru 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. The Tilapia market is poised for inventory challenges and pricing going into the first quarter of the new calendar year due to the heavy floods in China.
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
Rain in Mexico and limited Peru volume have created an increasing market. Quality and production will be affected out of both regions. Market active.
Broccoli
Market softer as volume continues improve into next week.
Broccolini / Baby Broccoli – Alert
Supplies have been significantly impacted due to quality issues in the field reducing yields. Expect supplies to start to improve late next week.
Cabbage – Green & Red
Supplies and quality good on both red and green. Market mostly steady on green and red.
Cauliflower
Market is softer as we expect good supplies into next week with the recent warm weather brining on growth.
Cilantro / Parsley
Cilantro and Parsley supplies and overall quality look good. Market is holding mostly steady for both.
Celery
Good supplies and market is steady to softer. No issues with quality. Look for this to continue for the next couple weeks.
Lettuce & Romaine
Market is leveling out with better supply on lettuce. Good volume on Romaine, market steady as we head towards the transition. Romaine Hearts, market steady.
Mushrooms – Brown
Growers continue to work through the gap on brown mushrooms and remain in a demand exceed supplies. You can expect some supply disruption on brown mushrooms through the end of the month. The overall market remains steady.
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
East – Green pepper supply light, demand lighter and market a little lower. Red and yellow bells are in extremely short supply.
West – Green peppers remain short and in high demand. The red market is steady but should turn next week due to recent storm.
Potatoes
The harvest is complete, and supplies will be good for the season. Sizing varies from good to slightly less than optimum depending on the growing region. The quality is very good this year. Prices are mostly steady.
Snap Peas
Supplies are extremely light, and demand is stronger and exceeds supplies. Salinas region is winding down and we are several weeks away before Mexico production comes on.
Squash
East – Zucchini and yellow squash supply good, quality is good, and markets remain low.
West – Good supply of zucchini, market is lower, quality is good.
Tomatoes
Markets remain steady on all varieties both east and west. Markets will improve through November as volume out of Florida increases.
Fruit
Avocado – Alert
Hurricane Otis made land fall and harvest delays are expected. The market is still recovering from the tight supplies from a few weeks ago and this will delay filling up the pipeline further.
Blueberries
Volume is very limited due to low volume from Peru. Production will start to improve in November with Mexico increasing but will still be below normal through December. Prices are steady.
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 will begin to finish packing this week and next. Navels are starting in a small way this week; the following weeks will ramp up production. Small Valencia’s 88’s and smaller will remain extremely tight through the end of the season.
Limes Alert – Supplies of large fruit continue to tighten up with growers watching the weather events this week. Overall supplies are meeting the lower demand bringing some minor price relief.
Grapes
Market is stable and should remain so as supply and demand are in sync. Green is in better supply than red. Slower movement over the last few weeks have helped maintain a better hold on supplies but additional labor cost and concern for supply through import season have this item on continued alert.
Pineapple
Supplies are returning to normal numbers. The size curve is switching back to the larger sizes. Market remains a little active.
