Market Conditions Report

Market Conditions Report: For the Week of September 15, 2019

 

Beef

  • Beef production was 565,000 head down 2.3% from last week and down 1.1% over last year. Numbers are down last week because of short week with no production on Labor Day.
  • Ribeye – Market is down 7.5% over last week and up 7.2% over last year.
  • Strips – Market is down 6.1% over last week and up 32.0% over last year.
  • Tenders – Market is up 0.8% over last week and up 9.3% over last year.
  • Rounds – Market is up 5.1% from last week and up 18.5% over last year.
  • Brisket – Market is up 1/2% from last week and up 16.1% from last year.
  • Grinds – Market is down 0.3% from last week and up 22.8% over last year.

Pork

  • Pork production was 2.2 million head down 10.4% from last week and down 0.7% from last year. Again, last week was a short production week due to Holiday.
  • Bacon – Market down 1.4% from last week’s drop and up 21.9% from last year. Futures are indicting that end of November or early December we will see a drop in belly market trading.
  • Sausage – Market is up 10.5% from last week and up significantly from last year.
  • Loins – Market is up 2.1% from last week and up 2.0% from last year
  • Butts – Market is up 0.4% from last week and up 1.3% from last year
  • Ribs – Market is up 1.8% from last week and up 1.1% from last year

Poultry

  • Poultry production was 177.9 million head up 2.2% from last week and up 4.1% from last year. Thankfully Hurricane Dorian did not have the devastating effects that early indications predicted.
  • Breast – Market is down 0.7% from last week and down 12.3% from last year
  • Wings – Market is steady with last week and up 23.1% over last year. Football season demand is upon us now full swing.
  • Tenders – Market is steady with last week and up 2.7% over last year.
  • Dark Meat – Market is down 3.4% from last week and up 28.6% over last year
  • Whole Chicken – Market is down 0.3% from last week and down 8.7% from last year

 Fish

  • Swordfish – Market is up slightly but excellent quality
  • Tuna – Market up on true number 1 fish grades
  • Halibut – Market is up as boats came in ahead of predicted storm but supply will adjust to normal by late next week
  • Cod – Fresh and previously frozen markets steady. Heavy landings holding market at current level
  • Haddock – Fresh and previously frozen markets steady. Heavy landings holding market at current level
  • Salmon Farmed – Markets down from all producing areas
  • Salmon Wild – Kings are down. Coho is up and sockeye is up with supply dwindling
  • Cobia – Market steady with larger sizes than usual, plentiful supply, and great quality
  • Barramundi – Market steady with larger sizes than usual, plentiful supply, and great quality
  • Bronzino – Market steady with larger sizes than usual, plentiful supply, and great quality

 Seafood

  • Lobster – Whole live true hard shell market is up as supply is very tight with very heavy seasonal demand
  • Shrimp – Asian whites steady at current level / Black Tiger market high on large size with limited supply / Wild Mexican season not yet open.
  • Scallops – All true dry markets are holding steady
  • Pasteurized Crab – No change. Markets very high and supplies are extremely tight
  • Mussels – Supply is normal and market is steady
  • Oysters – Market is steady with high demand still upon us
  • Clams – Market is up due to higher production costs to catch and harvest. All due to weather. The average loss of business to clammers this year was 20-25% due to lack of supply of legal size and weather conditions.

Dairy

  • Milk – Production is up nationwide with improved cooler weather conditions and market is priced monthly so it remains steady. Heavy back to school demand
  • Cheese – Market trending up with increase in foodservice demand
  • Butter – Market steady at current level
  • Eggs – Large and mediums are down a couple pennies and may drop more as week progresses. This will be short term as distribution will do buy ins when they believe market is at a low and so will retain and you will see it featured everywhere.

Wheat

  • The United States spring wheat harvest continues to improve but still behind where we were last year currently however this is not a bad thing. Exports are right where they were expected to be and there is plenty of product right now in the pipeline from the fields to storage mills to in process, so outlook is positive and stable and improving weather patterns are another good sign to keep market stable and balanced.

Non-Foods

  • Tamper resistant delivery seals are continuing to be the trend and the consumer base ordering is young and on constant social media telling their friends. Now is the time to check that option of your delivery service. In addition, we are in an Eco Friendly consumer that wants materials recycled/biodegradable and plastic and foam are the enemies. This trend will not slow and it will continue to grow at an amazing rate.
  • Another issue these consumers are looking at is complete recycling. A great example is Starbucks that they have separate containers for everything as well as Wi-Fi hot spots. Lastly, we are still in wait and see mode when it comes to trade and tariffs with China. Talks are scheduled for October and that is when we will have a clear idea about where these markets will turn.

 

Local Produce Outlook

NYS Tomatoes Still have all codes in stock, including rounds, cherry, grape, and romas
Corn Supplies and quality remain strong
Yellow/Green Squash Just about done for the season, some inventory remains
Green Peppers Season is still going strong, we have inventory on all sizes
NYS Apples Now stocking multiple varieties!
PA Peaches and Plums Prune plums are done for the season. We should have peaches for another week or so
Grapes Now stock NYS concord grapes and Niagara grapes
Pumpkins and Gourds All sizes will be in stock next week
Indian Corn In stock next week

Get produce market updates from Markon’s Fresh Crop Report