Market Conditions Report

Market Conditions Report: For the Week of December 16, 2018

 

Beef

  • Beef production was 660,000 head up 4.1% from previous week and up 4.2% from last year
  • Ribeye – Market is down 0.2% last week and up 2.8% over last year
  • Tenders – Market is down 0.8% last week and up 3.0% over last year
  • Strips – Market is up 3.6% from last week and up 2.4% from last year
  • Rounds – Market is down 0.1% from last week and down 0.6% from last year
  • Grinds – Market is up 4.9% from last week and up 15.5% over last year

Pork

  • Pork production was 2.6 million head, up 1.1% from last week and  up 0.7% over last year
  • Bacon – Market is up 11.0% from last week and down 15.5% from last year
  • Sausage – Market is up 7.7% from last week and down 24.4% from last year
  • Loins – Market is down 0.7% over last week and down 4.3% over last year
  • Butts – Market is up 0.6% from last week and down 1.2% from last year
  • Ribs – Market is up 7.7% over last week and down 24.0% from last year

Poultry

  • Poultry production was 165.5 million head, up 33.4% from last week and down 1.4% from last year.
  • Breast – Market is down 0.6% from last week and down 2.2% from last year
  • Wings – Market is steady with last week and down 8.5% from last year
  • Tenders – Market is steady with last week and up 51.4% over last year
  • Dark Meat – Market is steady last week and down 24.2% from last year
  • Whole chicken – Market is steady with last week and up 3.1% over last year

 Fish

  • Swordfish -Market is steady and good supply now, expect increase in January
  • Tuna -Market is steady and price is favorable
  • Halibut – Weather hampering catch, market up, tight supply
  • Cod – Market steady
  • Haddock – Market trending up slightly as seasonally expected
  • Salmon Farmed – Market steady, expect modest increase next week with heavy demand
  • Cobia – Market steady, good supply
  • Barramundi – Market steady, good supply
  • Bronzino – Market steady, good supply

 Seafood

  • Lobster – Live Market is trending up as seasonal demand is upon us and will continue through New Year’s Day
    • Tails – Market is steady at current level and inventories are bought for next several weeks
  • Shrimp – Market is steady and outstanding value
  • Scallop – Market is trending up as boats are getting their quota and very heavy demand this time of year
  • Pasteurized Crab – Holding steady at current high level
  • Mussels – Supply is normal and market is steady
  • Oysters – Market and supply stable
  • Clams – Market is steady and supply is ample to meet demand

Dairy

  • Milk – Production is steady with seasonal patterns and demand is down; market is steady
  • Cheese -Market is steady, demand is now on specialty items and raw material for production is ample
  • Butter – Market is steady as supply is on pace with demand however expect increases last 2½ weeks of the year as demand soars with Holiday baking season.
  • Eggs – Market steady on supply is stable; expect increase as seasonal demand increases last weeks of 2018

Wheat

  • Market is steady despite weather concerns in some growing areas such as record precipitation and colder than usual temperatures have affected yields. The big news is exports of wheat are nonexistent. This should hold price stable through the end of the year.

Non-Foods

  • After months of volatility we are on the cusp of some welcome news. This week the trade war with China has underwent some changes as the Chinese government is buying the first purchase of United States soybeans since the start of the trade situation. In addition they have also lowered the tariffs on American made cars sold in China. As tensions ease and new talks are being scheduled between leaders is what will have a direct impact on the non-food category as we enter into 2019.

 

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