Market is unsettled. Total beef production for last week was down 10.8% compared to prior week due to the shortened holiday week and was down 2.5% compared to same time last year. Total headcount for last week was 570,000 as compared to 575,000 for the same week last year. Live weights for last week were up 3 lbs. from prior week but were down 17 lbs. from same week last year. Overall demand is seasonally light and putting pressure on the market as packers try to keep inventories in line with demand. Demand for holiday items has been good coming into this week with some packers raising asking prices. Production will be impacted in the next few weeks as packers will see reduced production during the holiday weeks.
Grinds– Market is unsettled. Demand is typically lighter around Thanksgiving and this has helped to put some downward pressure on the market as we moved into this week. Retail advertising is expected to pick up over the coming days. The market is expected to see improved demand and tighter inventories as we move thru the holiday weeks.
Loins– Market is mixed. Asking prices from packers have been mixed this week with both higher and lower prices being seen as packers look to get their inventories in line with current demand.
Rounds– Market is unsettled. The market has been moving lower as we moved into this week due to lighter demand. Demand typically picks up after we move past Thanksgiving and as this week progressed we saw both higher and lower asking prices from packers.
Chucks– Market is mostly steady.
Ribs– Market is unsettled. Multiple packers raised asking prices as we moved into this week as buyers look to cover their holiday needs. Demand typically drops sharply as we move thru the coming days and it is common to see very large drops in the market as we move thru December.
Market is mixed. Total pork production for last week was down 13% compared to prior week due to the shortened holiday week but was up 5% compared to same time last year. Total headcount for last week was 2,273,000 as compared to 2,153,000 for the same week last year. Live weights for last week were up 1 lb. from prior week but were down 1 lb. from same time last year. Demand for holiday items is good and keeping pressure on those cuts. Strong production this year is keeping overall inventories higher, but this is putting pressure on available freezer space. Retail advertising is expected to be improved over the coming weeks and help to improve demand. An additional processing facility will be coming on line in the next few weeks and this will put additional pressure on the market as production numbers continue to rise.
Bellies– Market is steady to weaker. Demand is light and helping to put downward pressure on the market.
Hams– Market is steady to firmer. Holiday demand is good and helping to move inventories.
Loins– Market is mostly steady.
Butts– Market is mostly steady.
Ribs– Market is mostly steady.
Market is steady. Total headcount for last week was 124,072,000 as compared to 125,488,000 for the same time last year. Average weights for last week were 6.22 lbs. as compared to 6.16 lbs. for the same week last year. Coming out of a holiday week, demand across most lines of business is being reported as steady. Supply side of the industry has been more than ample to cover almost all categories. Reports on export demand show that foreign demand remains steady, but uneventful.
WOGS– Market is steady to firmer. Strong demand from retail deli and foodservice operations continue to keep WOGS and 8pc cutups in a sold-up position. Supply side continues to be able to support the strong demand.
Tenders– Market is steady. Coming out of the holiday week, demand is being reported as steady and consistent. Supply is available.
Boneless Breast– Market is steady. Demand has improved slightly this week as buyers have a full week’s worth of needs to fulfill. Supply continues to be readily available.
Leg Quarters and Thighs– Market is steady. Domestic demand for leg quarters continues to be fair at best. Export demand continues to be reported as average. Supply continues to be available. Market levels remain unchanged.
Wings– Market is steady. Demand for all sizes of wings is being reported as steady. Market is being well supported by foodservice activity and value-added processors. Wing supply is available to cover demand.
Market is steady. Total headcount for last week was 2,371,000 as compared to 2,673,000 for the same week last year. Average weights for last week were 32.38 lbs. as compared to 32.14 lbs. for the same week last year. Egg sets for last week were up .77% from prior week and are trending down 1.75% for year to date versus same time last year. Coming out of the holiday week, demand is being reported as very good on whole birds and the parts segment.
Whole Birds– Market is steady. Typically, demand after Thanksgiving is less than stellar. Demand for whole birds continues to be active and keeping the market fully supported. Supply is available but limited. Market is steady but seeing some upward pressure.
Breast Meat– Market is steady. Demand from foodservice and deli operations is being reported as steady and consistent. Therefore, demand from further processors making deli products continues to be steady and consistent as well. Supply remains steady and available but limited.
Wings– Market is steady. Domestic and export demand remain steady. Supply is available, but very limited.
Drums– Market is steady to firm. Good domestic demand and increased export demand continue to keep this line of business in a sold-up position. Supply continues to be tight as there is a limited number of drumsticks available.
Market is steady. Coming out of a holiday week, current retail demand is reported as average at best. Future promotional activity is expected to be active as the Christmas season comes into play, but that remains a couple of weeks away. Foodservice and institutional demand is currently being rated as fair. Supply is being reported as available in almost all sizes. Market is seeing some downward pressure. National weekly shell egg inventory reports shell egg inventory to be up 9.5% over last week.
Gulf Shrimp– Market is firm. Landings are seasonally lighter and putting additional pressure on available inventories. White shrimp inventories are light and seeing the most pricing pressure currently. Year to date thru October total landings of Gulf Shrimp are down 1.5% compared to year to date 2017.
Black Tiger Shrimp– Market is mixed. Larger sized shrimp continue to see limited inventories and upward pressure on the market. Mid and smaller sized shrimp are in better supply and continue to see downward pressure due in part to the lower priced White shrimp market.
White Shrimp– Market is unsettled. Demand is improved from prior weeks and helping to move additional inventories. Demand has been lighter for several weeks and has been keeping downward pressure on the market. Prices for replacement product overseas continues to see higher pricing than current market and this is helping to keep the market in a more unsettled tone.
King Crab– Market is firm. Inventories are light for a strong demand. Demand from Asia is very active and keeping pressure on the market.
Snow Crab– Market is steady but firm. Light inventories are keeping pressure on the market.
Warm Water Lobster Tails– Market is firm. Demand is strong and keeping inventories from building. Year to date import numbers have improved from prior months and are now up 4.8% thru September compared to same time last year. Imports from Brazil are up over 14% while imports from the Bahamas are down over 26% for the same time frame.
North American Lobster Tails– Market is firm. Demand from China is strong and putting pressure on available inventories. This combined with processors trying to cover contract obligations are keeping available inventories in tighter supply.
Salmon– Market is steady to lower. Inventories are good for a fair demand. Year to date total imports are up 4.2% thru September as compared to year to date 2017.
Cod– Market is firm. Reduced quotas and a good demand is keeping pressure on the market. Demand is expected to be strong as we move into 1st quarter.
Flounder– Market is steady to firmer. Inventories on larger sized fillets remain light. This combined with increased tariffs is keeping pressure on the market.
Haddock– Market is firm. Reduced quotas and strong demand is keeping pricing at higher levels. Increased tariffs are putting additional pressure on the market.
Pollock– Market is firm. Quota cuts and strong demand is keeping pressure on the market.
Domestic Catfish– Market is steady. Pressure is being put on the import market as product from China is seeing pressure from the tariffs and this is expected to put domestic product more competitive on pricing over the coming months.
Tilapia– Market is firm. Inventories from China are in lighter supply as buyers have been increasing their orders for the past few months trying to get ahead of the additional tariffs that are set to take effect on January 1.
Swai– Market is firm. Smaller sized fillets remain in tight supply and putting additional upward pressure on pricing. Total imports year to date thru September are down 22.2% compared to year to date 2017.
Scallops– Market is steady to firmer. Lighter landings combined with lighter imports are keeping pressure on the market.
Market is firm. US supplies are growing as exports continue to lag significantly behind last year’s export volume and crush volume increases. Soy is still a great buy at these levels.
Market is unsettled. The CME Block market has moved higher while the Barrel market has moved both higher and lower this week. Demand for both mozzarella and provolone remains strong. In the Northeast producers are seeing additional milk loads available despite colder temperatures. Western producers report steady demand. Milk supply is ample for production needs. In the Midwest producers of specialty holiday variety cheese are bust procuring for the season
Market is unsettled. The CME Butter market has been both higher and lower this week. Demand is strong for the season as cream remains readily available. The US Cold Storage report shows a 6% increase in butter inventories over October 2017. In the Northeast production is active. Demand in the retail segment is strong. Western producers report adequate cream inventories for production. Demand for retail and club stores is very good. Central region producers are experiencing strong seasonal demand. Cream remains available though not as abundant as expected.
Wheat Weekly Market Highlights
Market is steady. The winter crop is in the ground with much needed snow cover in the Midwest growing regions. Raw wheat movement to markets has been light for weeks and in hopes for signs of increased US exports. Indicators are that US wheat is very competitive in world markets, but a strong US dollar is keeping export volume lower than expected. Thus, keeping pressure on this market.
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|