Market is steady to firmer. Total beef production for last week was up 0.7% from prior week and up 4.3% compared to same time last year. Total headcount for last week was 596,000 as compared to 576,000 for the same week last year. Live weights for last week were down 1 lb from prior week but up 13 lbs for same time last year. Lighter production numbers combined with an improved demand is helping to put upward pressure on the market. The Choice grading percentage continues at very high levels and availability of Select and lower grade product is in tighter supply. Export demand has been improved and this has helped put inventories in tighter supply. Prices have moved higher this week and some cuts have become more difficult to locate extra inventories. Spring buying activity is improved and putting additional pressure on the market.
Grinds- Market is firmer. Demand is improved and putting pressure on the market.
Loins- Market is steady to firmer. Retail buying activity is improved.
Rounds- Market is steady.
Chucks- Market is steady.
Ribs- Market is steady to firmer. Demand is improved and putting upward pressure on the market.
Market is steady to firmer. Total production for last week was down 0.3% compared to prior week but up 2.0% compared to same time last year. Total headcount for last week was 2,384,000 as compared to 2,356,000 for the same week last year. Live weights for last week were even with prior week but up 2 lbs from same time last year. Production has been impacted across the country this week due to the holiday and winter weather across the norther part of the country. Demand is typically light this time of year due to Lent but buying activity has been good coming into this week. Export interest is good and helping to move additional inventories.
Bellies- Market is firm. Demand is very good and inventories of fresh bellies are in tight supply.
Hams- Market is firm. Demand for Easter is putting pressure on available inventories.
Loins- Market is steady to firmer. Demand is improved over prior weeks.
Butts- Market is firm. Export demand is very good.
Ribs- Market is steady to firmer. Demand is good as buyer are looking to cover their needs for grilling and summertime demand.
Market is steady to weaker. Total headcount for week ending February 10th was 162,822,000 as compared to 162,204,000 for the same week last year. Average weights were 6.12 lbs as compared to 6.07 lbs for the same time last year. Overall demand has been light now that we are past the Super Bowl and now that we have entered Lent. March Madness is just around the corner and expected to help improve demand over the coming weeks. Freight continues to be a concern due to the lack of available trucks and increasing freight rates.
WOGS- Market is steady.
Tenders- Market is unsettled. The market has seen downward pressure this week due to a lighter demand. This trend is opposite of what we have seen prior weeks.
Boneless Breast- Market is steady.
Leg Quarters and Thighs- Market is mostly steady.
Wings- Market is weaker. Demand is light.
Market is mostly steady. Total headcount for the week ending February 10th was 4,165,000 as compared to 3,742,000 for the same week last year. Average weights were 32.16 lbs as compared to 32.27 for the same time last year. Egg set numbers for the week of February 14th were down 5.06% compared to same time last year. Overall demand for this week has been fair but seasonally lower compared to prior weeks.
Whole Birds- Market is steady to slightly firmer. The market for product for immediate ship is holding mostly steady while the market for future orders continues to see upward pressure due to a good demand.
Breast Meat- Market is steady.
Drums- Market is steady.
Wings- Market is steady.
Market is firmer. Demand in the retail segment is good ahead of the Spring holidays. Demand is best where eggs are featured. Foodservice business is good. National weekly shell egg inventory is up 5.4% from last week.
Gulf Shrimp- Market is firm. The market continues to see pressure from limited inventories, higher raw material prices, and a fair demand for Lent.
Black Tiger Shrimp- Market is steady.
White Shrimp- Market is steady to weaker. Inventories are good for current demand.
King Crab- Market is steady.
Snow Crab- Market is steady.
Warm Water Lobster Tails- Market is firm. Inventories are limited for an active demand. Larger sized tails continue to see the most upward pressure due to extremely limited inventories.
North American Lobster Tails- Market is firm. Larger sizes are more limited due to light availability from other regions. Current production is light and putting additional pressure on availability.
Salmon- Market is steady to firmer. Demand is improved over prior weeks and is putting upward pressure on the market.
Cod- Market is firm. Demand for Lent is very good. Reduced quotas and poor catches are putting additional pressure on the market.
Flounder- Market is steady to firmer. Larger sized fillets remain in tighter supply and have seen continued upward pressure on the market. Inventories for smaller sizes are in better supply.
Haddock- Market is firm. Global demand is very good.
Pollock- Market is firm. Demand is very good. Russia is keeping more of their catch for domestic use and this is putting additional pressure on the market.
Domestic Catfish- Market is steady.
Tilapia- Market is steady.
Swai- Market is firmer. Inventories are in tighter supply due to lighter imports and longer ship times on incoming imports. Inventories on larger sized fillets are in tighter supply and seeing additional upward pressure.
Scallops- Market is steady.
Market firming as weather in Argentina gets worse. This major soy bean producing/exporting country now has predictions of 50% of the crop in poor condition. Market up 2 days in a row but record crush and larger than expected exports from the US.
Market is unsettled. The CME Barrels market has moved higher this week while the Blocks market has moved both higher and lower. Production of milk varies by region. In the West and Midwest milk production rose as milder winter temperatures helped stimulate milk production. Cheese production is active. Demand is steady across the nation. International interest has been on the rise as cheese prices in other areas of the world has increased. Inventories are reported as long in most areas.
Market is unsettled. The CME Butter market has moved both higher and lower this week. Production is active but with inventories growing some producers have cut back production schedules. Retail segment demand is increasing.
Wheat Weekly Market Highlights
Market firmer due to lower than expected yields per acre than originally forecast. Weather also playing a part in current market as drought is prevenient in some of the northern US growing regions. The third reason is still estimated acreage give to wheat for spring planting that is lowest in decades. Plenty of surplus and world supply should keep this market from reacting too bullish.
OTHER MARKET NEWS
Market has been soft for most of November, but has started to firm again. Bio-diesel continues to be in the press and along with continuing logistics price increases due to new regulations, both keeping pressure on this market.
Rice market is firming and some suppliers have announced price increases. The driving factor is acreage reduction by farmers down 24% from same time last year. Farmers are devoting more acreage to corn and soy as they are more profitable per acre yield than rice. Rice prices have not risen is years when production and transportation costs have.
Georgia Grown Produce:
|LOCAL PRODUCE – WEEK|
|COLLARDS BUNCH||24||EA||Georgia||Baker Farms||http://www.bakerfamilyproduce.com|
|COLLARDS SPROUT||24||EA||Georgia||Baker Farms||http://www.bakerfamilyproduce.com|
|TURNIP SALAD||24||EA||Georgia||Baker Farms||http://www.bakerfamilyproduce.com|
|JUMBO SWEET POTATO||40||LB||N. C.||Wayne Bailet||http://www.sweetpotatoes.com/|
|#1 SWEET POTATO||40||LB||Alabama||Haynes Farming|