Market Conditions Report

Market Conditions Report: For the Week of June 9, 2019

 

 

Beef

  • Beef production was 582,000 head down 9.2% from last week and down 0.5% from last year.
  • Ribeye – Market is up 0.4% over last week and down 9.7% from last year
  • Strips – Market is down 2.8% from last week and down 20.8% from last year
  • Tenders – Market is up 0.6% from last week and down 3.0% over last year
  • Rounds – Market is up 3.5% from last week and down 9.7% from last year
  • Grinds – Market is down 2.4% over last week and up 15.0% over last year

Pork

  • Pork production was 2.3 million head down 8.5% from last week and up 4.6% from last year.
  • Bacon – Market is down 15.6% from last week and down 2.5% from last year
  • Sausage – Market is up 14.8% from last week and up 43.9% from last year
  • Loins – Market is down 1.2% from last week and up 6.2% from last year
  • Butts – Market is down 3.2% from last week and down 3.3% from last year
  • Ribs – Market is down 0.5% from last week and up 6.6% from last year

Poultry

  • Poultry production was 171.7 million head up 2.9% from last week and down 3.7% from last year.
  • Breast – Market is steady with last week and down 14.9% from last year
  • Wings – Market is steady with last week and up 45.1% from last year
  • Tenders – Market is steady with last week and up 22.2% over last year.
  • Dark Meat – Market is steady with last week and up 9.9% over last year
  • Whole Chicken – Market is steady with last week and down 24.2% from last year

 Fish

  • Swordfish – Market is even for this week and quality is stellar
  • Tuna – Market steady, excellent landings
  • Halibut –  Market is down slightly as Novia Scotia has witched to halibut fishing
  • Cod – Market is steady at current level
  • Haddock – Market is steady at current level
  • Salmon Farmed – Market is down on Chilean and even from all other areas
  • Salmon Wild – King market down but still at high point not enough to go around and demand’s a premium price. Sockeye production has increased and market is down best value in wild salmon. Coho season not yet started.
  • Cobia – Market steady, great quality, and readily available
  • Barramundi – Market steady, great quality, and readily available
  • Bronzino – Market steady, great quality, and readily available

 Seafood

  • Lobster – Live market is trending down slightly. Cold and warm tails show no real changes as we are in low demand time.
  • Shrimp – Large sizes of all types of shrimp are demanding a premium as supply is tight. That being said this market is still a value as it is only higher over last year but below the five year average. Smaller sizes are in great supply and price is reasonable.
  • Scallop – Markets are steady and supply is on pace with demand
  • Mussels – Market is steady with improved weather comes improved harvest numbers
  • Oysters – Market is steady and weather is improving for harvesting so we may see decrease in near future
  • Clams – No change. NY legal size in tight supply, otherwise farmed and wild clams in good supply.

Dairy

  • Milk – Priced monthly. Will hold at current level through June
  • Cheese – Market is expected to trend up at snail’s pace through the summer season with increased demand but raw material for processing is the determining factor
  • Butter – Overall steady but as weather improves, demand follow and market will trend up – not at an alarming rate, but up.
  • Eggs – Market remains steady on all sizes

Wheat

  • Spring wheat planting is nearly caught up and almost complete. Initial condition reports are 83% good to excellent. the hard red winter wheat crop condition report is that it is a lower than expected protein level, which is the standard for this crop but below expectations. Weather is improving globally for producing nations and United States exports of wheat are next to nothing. Overall we are in steady position.

Non-Foods

  • Again, no news this week as these markets are continuing to adjust to International political situations. Such as, trade with China and tariffs on Mexico. Also they are monitoring the changing attitude of the United States and new state laws forthcoming as previously reported to determine the path they will take. This will be a slow process and we continue to monitor the situation and will report as any change in conditions appear.

 

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