Market

Market Conditions Report

Market Conditions Report: For the Week of October 15, 2017

Beef

  • Beef production was 632,000, down 2.5% from previous week but up 3.5% from previous year. Unusually, cattle weights are down slightly due to the warm weather trend in the past few weeks; however, this will change starting this upcoming week to a normal range. There is also slightly more Select grade available.
  • Ribeye – Market up 8.5% from previous week and down 8.7% from previous year.
  • Tenders – Market is down 0.9% from previous week and down 0.7% from previous year.
  • Strips – Market is up 2.1% from previous week and up 14.5% from previous year. This is due to very heavy retail and foodservice demand.
  • Rounds – Market is up 1.6% from previous week and up 11.6% from previous year. This trend will turn and drop quickly as packers are backing up on product and need to discount to move.
  • Grinds – Market is down 6.4% from previous week and up 8.6% from previous year.

Pork

  • Pork production was 2.5 million land even with previous week but up 4.0% from previous year.
  • Bacon – Great news, market is down 1.3% from previous week and down 17.9% from previous year.
  • Sausage – Market is up 3.0% from previous week and up 48.6% from previous year. As this is only item in pork at a high point, expect trend to continue for a couple more weeks and then it will take a sharp turn around the other way.
  • Loins – Market is down 4.1% from previous week and down 16.3% from previous year.
  • Butts – Market is down 3.5% from previous week and up 0.4% from previous year. Again this will be short lived as demand is low this time of year.
  • Ribs – Market is down 1.6% from previous week and down 3.8% from previous year.

Poultry

  • Poultry production levels are ahead of demand, as in previous weeks they have worked extra days to keep up. Some heavier than usual exports in dark meat and whole chickens are the only trends out of sync.
  • Breast – Market is steady with previous week and down 17.4% from previous year.
  • Wings – Market is down 5.0% from previous week and up 16.5% over previous year. The last time wings dropped in price was May 29, 2016.
  • Tenders – Market is down 2.2% from previous week and down 10.4% from previous year. Lighter demand from further processors is the main reason.
  • Dark Meat – Flat with previous week and up 12.9% from previous year.
  • Whole Chicken – Market is steady with previous week and up 19.5% from previous year, heavy retail and export demand is the main reason.

 Fish

  • Swordfish – Down on Canadian MSC certified fish.
  • Tuna – Market is down a significant level, great feature.
  • Halibut – Market is up slightly but still a great value.
  • Cod – Market is up one day down the next due to inconsistent catch.
  • Haddock – Market up on large sizes, steady on smaller sizes.
  • Salmon – Farmed market is steady wild kings are steady and Coho and Sockeye season has ended.
  • Barramundi – Market is steady.
  • Cobia – Market is down with increase in production.
  • Bronzino – Market is steady and production is on the rise.

 Seafood

  • Lobster – Whole market is trending upward on true hard shells. Soft shells have a high mortality rate. Cold Tails – Market on large sizes is high and inventories are tight. Warm Tails – Bahama season ended. 8 oz. size tight and market is inching upward on all sizes. Meat is tight supply and high price.
  • Shrimp – Supply in the United States is plentiful and demand is down, a great time to feature and merchandise.
  • Scallops – Market is steady on all sizes, great value.
  • Pasteurized Crabmeat – No change in market conditions. Supply is tight market and remains at high point.
  • Mussels – Supply is normal and market is steady.
  • Clams – Supply is normal and market is steady, some lighter demand.
  • Oysters – Market is steady.

Dairy

  • Milk/Cream – Market is steady priced monthly. Expect to see increase in November with high demand to replace inventories after high demand time of year orders are placed for Thanksgiving Holiday.
  • Cheese – Overall cheese markets are holding steady with previous week as production is keeping up with some lower demand.
  • Butter – Market is starting a predictable trend upward as Thanksgiving is the highest demand time of year for butter and eggs. The good news is we are in better shape than last year.
  • Eggs – Market is starting trend up as inventories are ordered for Holidays his market will continue upward for the next few weeks.

Wheat

  • The USDA report of the World Agriculture Supply and Demand Report is due any day, however no surprises are expected. Beneficial rains in growing areas are expected to produce quality, high-protein wheat. Domestic and world supply is above average and ahead of demand. Market is steady and expected to stay that way for the near term.