Market Conditions Report

Market Conditions Report: For the Week of October 27, 2019

 

Beef

  • Beef production was 642,000 head down 0.5% from last week and up 1.6% from last year.
  • Ribeye – Market is up 3.1% from last week and up 4.2% over last year.
  • Tenders -Market is up 3.5% over last week and up 7.2% over last year
  • Strips – Market is down 3.3% from last week and up 5.3% over last year.
  • Rounds – Market is down 0.6% from last week and up 4.9% over last year.
  • Grinds – Market is down 3.0% from last week and up 7.6% over last year

Pork

  • Pork production was 2.73 million up 1.2% over last week and up 4.9 % over last year.
  • Bacon – Market is down 8.3% from last week and down 8.2% from last year.
  • Sausage – Market is down 8.4% from last week and down 23.5% from last year.
  • Loins – Market is steady with last week and down 20.0% from last year.
  • Butts – Market is down 0.2% from last week and down 10.6% from last year.
  • Ribs – Market is steady with last week and up 4.4% over last year

Poultry

  • Poultry production was 174.6 million head down 0.5% from last week and up 6.5% over last year
  • Breast – Market is steady with last week and down 2.7% from last year
  • Wings – Market is down 2.6% from last week and up 8.8% over last year.
  • Tenders – Market is steady with last week and down 4.5% from last year.
  • Dark Meat – Market is steady with last week and up 1.4% over last year.
  • Whole Chicken – Market is steady with last week and down 8.7% from last year

 Fish

  • Swordfish – Market steady for now but Grand Banks season is closing and supply will be tight and market will rise
  • Tuna – Market is down and quality is stellar. Great time to feature
  • Halibut – Market is down and this is the best time to buy as fish have a very high fat content.
  • Cod – Market up slightly with heavy demand
  • Haddock – Market up slightly with heavy demand
  • Salmon Farmed – There is civil unrest and labor crisis in Chile. Boats are not out, air and ground transportation is shut down, and nothing going in or out. This is causing a shortage in the market and all producing areas are raising prices.
  • Salmon Wild – King – Nothing available for past 5 days, alternative is organic kings. Coho – Season is ending soon market is high supply is tight. Sockeye – Next to nothing available and market is at high point season all but shut down.
  • Cobia – Market steady and quality is incredible. A great time to feature
  • Barramundi – Market steady and quality is incredible. A great time to feature
  • Bronzino – Market steady and quality is incredible. A great time to feature

 Seafood

  • Lobster – Live market is steady at current level while demand is down so is supply. Cold and warm tails – No change in market conditions main sizes in tight supply.
  • Shrimp – Asian white – market is softening on 13/15 – 16/20 – 21/25 raw headless shell on and EZ Peel cooked shrimp has leveled after previous weeks increases. Black Tiger – Large sizes are tight supply and command a premium price. Wild Mexican – Season has just started and only hearing reports of smaller sizes being caught. The large sizes are usually lagging behind at this point so no need for concern at this time.
  • Scallops – Market is currently steady
  • Pasteurized Crab – Supply tight market is high
  • Mussels –  Supply is normal market is steady
  • Oysters – Market is steady and oysters are at their best this time of year due to colder temperatures
  • Clams – Supply is normal market is steady.

Dairy

  • Milk – Market is priced monthly and we have had 3 straight weeks of increases so we will see increase in November
  • Cheese – Market is up 2% over last week and up 38.7% over last year. Very heavy demand.
  • Butter – Market is steady to down pennies. This will not last long as thanksgiving is heaviest baking time of year demand skyrockets.
  • Eggs – All sizes holding steady

Wheat

  • This year’s late fall row crop harvest is commanding producers attention and slowing wheat movement to market. A delayed harvest could support prices increasing at least for the near term. This year’s winter wheat crop has caught up to seasonal averages. More than 77% of the cop that has been planted has emerged. Global economic uncertainty could lead to further reductions in United States exports for at least the near future

Non-Foods

  • In past reports we discussed new law that will go into place in 2020 and that is right around the corner. So as a reminder in New York state plastic bags will go away in retail effective March 1 2020. Your choice will be bring your own reusable cloth bags or paper and that will cost .05 cents each. That trend will spread like anything else more states will adopt the policy and it will carry over into foodservice before you know it.
  • In addition the cost of using recycled plastic is close to exceeding the cost of newly made plastic. With that being said the decision on manufacturers is save the money up front and then face negative publicity on social media or absorb the cost or pass it on to the consumer. These are just early indicator reports so we will follow it more closely and see what way it pans out in the end and report more accurate findings as they become cold hard facts.

 

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