Market Conditions Report

Market Conditions Report: For the Week of February 17, 2019

 

 

Beef

  • Beef production was 614,000 head up 3.5% from last week and up 4.2% from last year.
  • Ribeye – Market is up 0.3% from last week and up 11.7% over last year
  • Tenders – Market is up 3.2% over last week and up 7.7% over last year
  • Strips – Market is down 0.5% from last week and up 5.9% over last year
  • Rounds – Market is down 1.4% from last week and up 3.5% over last year
  • Grinds – Market is down 7.8% over last week and up 10.7% over last year

Pork

  • Pork Production was 2.51 million head up 5.1% from last week and up 5.3% from last year.
  • Bacon – Market is down 0.9% from last week and down 10.0% from last year
  • Sausage – Market is down 6.9% over last week and down 21.4% from last year
  • Loins – Market is steady with last week and up 2.4% from last year
  • Butts – Market is down 2.1% from last week and down 22.3% from last year
  • Ribs – Market is up 0.1% from last week and up 4.7% over last year

Poultry

  • Poultry production was 163.2 million head, up 3.2% from last week and down 1.3% from last year.
  • Breast – Market is up 0.5% over last week and up 3.2% from last year
  • Wings – Market is steady with last week and up 26.7% over last year
  • Tenders – Market is up 0.8% from last week and up 23.2% over last year. This is due to heavy buys from further processors to bread for upcoming summer season.
  • Dark Meat – Market is steady with last week and down 25.0% from last year
  • Whole chicken – Market is steady with last week and down 6.2% from last year

 Fish

  • Swordfish -Market is up this week on domestic so best value is in imports on true cold water
  • Tuna -Market is up on number 1 grade and a little lower on number 2 grade due to abundant supply on number 2 fish being caught
  • Halibut – East coast market is steady as long as weather holds to bring in boats in timely fashion
  • Cod – Market is steady due to increased landings
  • Haddock – Market is steady and demand is on rise
  • Salmon – Market is down from all producing countries, good value
  • Cobia – Market steady and supply is stable, makes a great feature
  • Barramundi – Market steady and supply is stable, makes a great feature
  • Bronzino – Market steady and supply is stable, makes a great feature

 Seafood

  • Lobster – Market is up on whole live until next opening in April. Cold and warm tails will remain in same situation of tight supply of main sizes 5/6/8/10oz tails so best value is in off sizes. Meat remains at market high.
  • Shrimp – Asian white P&D are best value due to abundant supply
  • Scallop – U-10 and larger size market up as this is very low percentage of the overall catch so best value is in smaller sizes
  • Pasteurized Crab – No changes from last week, market remains at high point
  • Mussels – Market is steady and supply is normal
  • Oysters – Market steady, supply is good
  • Clams – Cherry stone and chowder clams in very sort supply, all other sizes readily available

Dairy

  • Milk – Market is steady, priced monthly
  • Cheese -Market is up modest level, heavy demand
  • Butter – Market steady, low demand. Increasing inventories so near term outlook remains positive
  • Eggs – Markets are in holding pattern no real changes from last week

Wheat

  • The long awaited USDA reports held very few surprises if any at all, resulting in little to no market reaction. We continue to be in weather issues in growing areas for the next several weeks but we are on the downside of winter which is welcome news. The outlook is more positive every day. We remain also on hold on what the outcome will bring in trade talks with China. Overall the outlook is steady for the near term.

Non-Foods

  • Markets are in holding pattern at current level mode. We do not anticipate any major changes until the United States trade talks resume and we see what direction the future will hold. Again it is a great time to determine what non-food items you use and if that is the best item. This non-food category demand, mainly for takeout containers, is at an all time high and is expected to grow as more and more restaurants are joining the takeout/delivery via all the venues that offer it. The amount of revenue per restaurant continues to grow in the 15% to 25% range in this area so again a great time to review your present and future plans.

 

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