Market is unsettled. Total beef production for last week was up 12.9% compared to the prior week which was shortened due to the holiday. Production was up 3.6% compared to same time last year. Total headcount for last week was 658,000 as compared to 636,000 for the same week last year. Live weights for last week were down 3 lbs. from prior year and down 1 lb. from same time last year. The market has seen demand move seasonally lower on multiple as we move thru this week. Retail advertising appears to be lighter than anticipated and is adding additional uncertainty as we come up on Father’s Day weekend. Buying activities for the 4th of July will begin easing as we move closer to the holiday and this is expected to make the market unsettled due to buyers looking for product ahead of the holiday and then demand seasonally easing after the holiday.
Grinds– Market is steady to weaker. Demand has been below expectations and putting pressure on the market.
Loins– Market is steady to weaker. Choice graded product has seen downward pressure this week as the Choice grading percentage remains high and demand is not keeping up with expectations.
Rounds– Market is mostly steady.
Chucks– Market is mostly steady.
Ribs– Market is unsettled. Retail advertising leading up to Father’s Day has been below expectations. The 4th of July is just around the corner and the market typically sees additional pressure as demand eases after the holiday.
Market is unsettled. Total pork production for last week was up 11.6% compared to the prior week which was a shortened holiday production week. Production was up 4.9% compared to the same time last year. Total headcount for last week was 2,271,000 as compared to 2,201,000 for the same week last year. Live weights for last week were down 1 lb. from prior week but were up 4 lbs. from the same week last year. Seasonal demand is good and helping to move additional inventories. Reports of warm weather for the Northeast for Father’s Day weekend is helping to spur additional demand.
Bellies– Market is firm. Availability of fresh bellies is limited as current demand is very good and keeping upward pressure on the market.
Hams– Market is firmer. Demand is seasonally improving and putting pressure on the market.
Loins– Market is unsettled. The market has seen both ups and downs over the past couple of weeks. Demand is improved as we moved thru this week and has resulted in some upward pressure on prices.
Butts– Market is unsettled. The market has seen some downward pressure coming into this week but has held steadier as the week progressed as demand has been improved.
Ribs– Market is firmer. Demand is good and putting pressure on available inventories.
Market is mixed. Total headcount for last week was 163,861,000 as compared to 164,892,000 for the same time last year. Average weights for last week were 6.05 lbs. as compared to 6.15 lbs. for the same week last year. Buying interest has been improved this week and helping to move additional inventories. Retail demand is good and grilling activity is expected to be very good as we move thru the next few weeks.
WOGS– Market is mostly steady.
Tenders– Market is firmer. Improved demand has helped put pressure on the market this week.
Boneless Breast– Market is mostly steady.
Leg Quarters and Thighs– Market is steady to weaker. Demand has not been strong enough to keep up with production and is putting pressure on the market.
Market is steady to firmer. Total headcount for last week was 4,320,000 as compared to 4,465,000 for the same week last year. Average weights for last week were 31.31 lbs. as compared to 31.97 lbs. for the same time last year. Egg sets for last week were 3.59% from same time last year but continue to trend down about 4% for year to date. Deli demand has been improving as the weather improves across much of the country. Outdoor festivals are going strong and helping to improve overall demand.
Whole Birds– Market is steady to firmer. The market for product for quick ship is holding mostly steady but additional upward pressure is being seen for product shipping later this year.
Breast Meat– Market is firmer. Demand is good and putting pressure on the market.
Drums– Market is steady to firmer. Demand is putting pressure on available inventories and keeping pressure on the market.
Wings– Market is steady.
Market is firmer. Retail demand is good and in line with seasonal demands especially where feature ads are found. Business in the foodservice segment is as expected. Demand in the QSR segment is shifting as some major chains shift focus away from egg items. The National Weekly Shell Egg Inventory reports a drop of -4.3% in shell egg inventory from prior week.
Gulf Shrimp– Market is steady to weaker. The HLSO market has held mostly steady as this week has progressed. The market for PUD’s has moved lower this week. Seasonal production continues to improve and is helping to build inventories.
Black Tiger Shrimp– Market is unsettled. The market continues to face pressure due to the lower priced white shrimp market even though inventories on larger sizes are more limited. The lower priced white market is keeping downward pressure on the market.
White Shrimp– Market is unsettled. The market has seen downward pressure for several weeks due to high inventory levels and a demand that has been below expectations. Demand has improved the past couple of week and is helping to move additional inventories. Inventories overall are in good shape but availability is now more mixed than it has been in prior weeks and this is causing the market to be more unsettled. Product from Ecuador is getting harder to procure and this is helping to put some pressure on the Latin American market.
King Crab– Market is firm. Inventories are light for current demand. Replacement costs on imports are continuing to see upward pressure and this is keeping upward pressure on the market.
Snow Crab– Market is steady to firmer. Overall inventories are light and this is keeping pressure on the market.
Warm Water Lobster Tails– Market is firm. Inventories are light for current demand. Imports continue to trend low and this is keeping pressure on available inventories.
North American Lobster Tails– Market is mostly steady.
Salmon– Market is weaker. Current demand is light.
Cod– Market is firm. Current season catches have been below expectations while demand has remained good. This is putting pressure on inventories and keeping upward pressure on the market.
Flounder– Market is firm. Inventories are light for current demand. Availability of larger sizes remains limited and keeping pressure on prices.
Haddock– Market is firm. Global demand is very good and keeping pressure on the market.
Pollock– Market is firmer. The higher prices on Cod and Haddock are putting additional buying interest on Pollock as buyers look to cover their needs. There is also additional demand for Alaskan product as surimi production out of Asia has been below expectations and putting additional pressure on the Alaskan market.
Domestic Catfish– Market is steady.
Tilapia– Market is steady.
Swai– Market is firm. Higher production and import costs continue to put pressure on the market. Lighter overall inventories are putting additional pressure on the market.
Scallops– Market is steady.
Market is weaker. The market has moved lower this week and is seeing levels we have not seen for several months. This is due in part to tariff talks and their effect on the Chinese business, the largest importer of soy products for the U.S. China is currently looking at other soy exporting countries for products which is causing excess supply in the U.S. and the reduced pricing. The WASDE report for crop conditions in the U.S. are very favorable as weather is currently cooperating for newly planted soy beans.
Market is unsettled. The CME Barrels market moved lower this week while the Blocks market moved higher. Production remains steady along with availability of milk for cheesemakers. In the Northeast, milk intake at or near capacity with inventories increasing. Western producers report balanced inventory despite slower demand.
Market is weaker. The CME Butter market moved lower this week. Availability of cream is stable with demand from producers is in line with seasonal trends. Inventories for both print and bulk butter is growing as some producers are beginning to look towards fourth quarter demand. Interest domestically as well as globally is steady.
Wheat Weekly Market Highlights
Market is soft as spring and winter wheat futures prices are lower to unchanged. Good news for quality protein wheat as early indications for winter crop looks favorable. U.S. wheat prices are higher than other major wheat growing countries keeping pressure on this market to follow suite.
OTHER MARKET NEWS
Market moved higher after early week lows. Since Argentina still has crop issues due to the lack of rain, the U.S. soy exports are strong and are picking up the additional sales. Estimates in the Brazilian crop production may not have the harvest speed required to meet the demands.
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|