This report represents information for the week ending February 21, 2020.

Market is steady to weaker. Total beef production for last week was down 1.7% versus prior week but up 3.9% compared to same time last year. Total headcount for last week was 620,000 as compared to 608,000 for the same week last year. Live weights for last week were even with prior week and up 24 lbs. from same time last year. Demand has been seasonally lighter as we moved through this week. End cuts have seen seasonal buying activity and improved retail advertising while middle meats have seen downward pressure with a light to dull buying demand.

Grinds- Market is steady.

Loins- Market is weaker. Demand is seasonally lighter and is helping put downward pressure on the market.

Rounds- Market is steady.

Chucks- Market is steady.

Ribs- Market is steady to weaker. This week has seen large swings in asking prices between some packers as they look to get their inventories in line with current demand.

Market is unsettled. Total pork production for last week was down 3.8% versus prior week but was up 4.3% compared to same time last year. Total headcount for last week was 2,596,000 as compared to 2,497,000 for the same week last year. Live weights for last week were down 1 lb. from prior week but up 1 lb. from same time last year. Record production combined with lighter seasonal demand is helping to make inventories more available. A large variable that is helping to keep the market unsettled is exports to China. China is expected to begin buying larger amounts of U.S. pork, but current issues related to the Coronavirus has led to a slow down at Chinese ports and causing delays in shipments.

Bellies- Market is weaker. Strong production combined with a demand that is fair is putting pressure on the market.

Hams- Market is steady to firmer. Good buying interest helped put upward pressure on the market last week and has held mostly steady as we moved through this week.

Loins- Market is steady to firmer. Pricing has been varied between packers for the past several weeks and this week has seen continued buying interest and some packers raising asking prices.

Butts- Market is steady to weaker. Buying demand has been fair to dull as we moved into this week.

Ribs- Market is steady to weaker. The market saw downward pressure last week as production outpaced buying demand. The market has held steadier this week. The market typically sees seasonal downward pressure as we move into March before seeing buying activity pick up for spring and summer activities.

Market is steady to weaker. Total headcount for last week was 170,974,000 as compared to 161,570,000 for the same week last year. Average weights for last week were 6.20 lbs. as compared to 6.09 lbs. for the same week last year. Domestic demand remains steady across most categories. With more birds being harvested on a weekly basis, industry supply appears to be more than adequate. Export activity for leg quarters has stagnated recently and the industry is experiencing some excess inventory. Supply across most lines of business is available.

WOGS- Market is weaker. Retail and foodservice demand for sized WOGS remains steady. Plant production is outpacing demand and this category is starting experience some pressure. Supply is available.

Tenders- Market is steady. Demand from foodservice and QSR’s is steady as seasonal demand tends to improve this time of year. Further processor demand is also active as suppliers build inventory for the early spring.

Boneless Breast- Market is steady. Demand for breast meat continues to remain flat in both the retail and foodservice channels. With plant production at peak levels, supply is available.

Leg Quarters and Thighs- Market is steady to weaker. Leg quarter demand from the domestic and export channels remains stagnant at the current time. The industry continues to anticipate future demand from China which has yet to develop. Supply is available.

Wings- Market is steady to weaker. Foodservice demand for jumbo and medium wings appears to have peaked in late January and is starting to decline a bit. Small wings remain supported by foodservice processors. Supply is available.

Market is steady. Total headcount for last week was 3,877,000 as compared to 4,123,000 for the same week last year. Average weights for last week were 32.77 lbs. as compared to 32.95 lbs. for the same week last year. Egg sets for last week were up 2.55% from prior week and are trending up 1.93% for year to date versus same time last year. The demand for whole body turkeys continues to be active as customers determine their future holiday needs. The need for boneless breast continues to be reported as subpar for this time of year. Limited activity and information continue to be the theme on bone in parts. Export activity for frozen parts remains steady at the current time and mostly unchanged. Supply is available.

Whole Birds- Market is steady to firmer. Whole birds are being supported by future bookings for holiday shipments. More and more customers are booking their holiday needs earlier this year as a means to secure their needs. Supply is available but getting tighter.

Breast Meat- Market is weak. At the current time, domestic demand from foodservice operations and retail deli remains less than desired. The usual uptick in demand has yet to develop this year. This lack of demand is creating some excess in supply.

Wings- Market is steady. Export sales for whole wings and domestic demand for two joints continues to be steady for this time of year. Supply is available.

Drums- Market is steady. The need for frozen drums is being well supported by the domestic and export channels. Supply is available.

Gulf Shrimp- Market is steady but firm. Inventories are limited. Production in 2019 was down 17% compared to prior year.

Black Tiger Shrimp- Market is weaker. Demand is light.

White Shrimp- Market is weaker. Inventories are good for a fair demand. The Coronavirus is having an impact on the shrimp market as exports from South America to China have dropped sharply causing additional product to be available on the market.

King Crab- Market is unsettled. Strong demand from Asia has been putting upward pressure on this market for several months. Shipments to China have been drastically lower over the past few weeks causing the market to become more unsettled. The quota for Alaskan King Crab for this season was over 11% lower from prior year.

Snow Crab- Market is firm. Inventories are light for an active demand.

Warm Water Lobster Tails- Market is steady but firm. Inventories are limited.

North American Lobster Tails- Market is unsettled. The market has seen some downward pressure on smaller sized tails, but larger sized tails remain limited. The Coronavirus remains a concern and is holding the market unsettled as China is a very large user of lobster products. Seasonal plant closures are also impacting production.

Salmon- Market is unsettled. The decrease in demand from China over the past few weeks helped put downward pressure on the market. Demand from other regions has improved and is helping hold the market in a more unsettled tone.

Cod- Market is steady.

Flounder- Market is steady.

Haddock- Market is unsettled. The tariff reductions are expected to impact this market over the coming weeks. Total imports for 2019 were down over 32% compared to prior year.

Pollock- Market is steady. Imports for 2019 rose sharply compared to prior year. Larger sized fillets are in lighter supply due to smaller sized fish being caught more.

Domestic Catfish- Market is unsettled. Inventories have been light for several months due to lighter than expected production levels. Inventories were on allocation for several months last year due to the limited inventories. Production is expected to be seasonally lighter as we move closer to spring.

Tilapia- Market is steady.

Swai- Market is steady.

Scallops- Market is steady.

Market is steady. After recent unsteady market movement, the CME block and barrel markets are steady this week. Demand nationally is mixed on average. Milk is plentiful and cheese production active. In the northeast restaurant demand is positive. Milk flow to production is steady and inventories are adequate. Midwest producers report mixed demand. Inventory levels are reported as adequate. Western region producers report continued flow of milk to production. Demand in the retail segment has been steady.

Market is weaker. The CME butter market moved lower this week. Cream supply nationally is ample for butter production needs. Inventories continue to grow for both print and bulk butter, but producers continue churn taking advantage of abundant cream supplies. In the eastern region producers are looking toward the Easter holiday. While some are producing in anticipation of the seasonal demand, others are playing it more cautious. Demand in the region for bulk butter is good. Central region producers report demand has met or exceeded expectations. Production activity it ongoing with widely available cream supply. Western demand for bulk butter varieties is reported as strong. Demand for prints is mixed. Inventory levels are adequate.

Market is steady. Retail demand and volume is being reported as consistent. With the recent increase in market prices, promotional activity is average at best. Foodservice demand is good and QSR sales are performing well since most fast food concepts are promoting their breakfast menus. Supply across most sizes is being reported as available. Market is trending flat on medium and large sizes. National weekly shell egg inventory reports shell egg inventory up 1.3% over last week.

Market is weak. The market reaction is mostly due to the decrease in palm oil prices, and also since soy crush has picked up due to domestic demand for animal feed and export demand of U.S. meat products. Demand from China for US soy products has been lighter than expected and putting additional pressure on the market.

Market is firm. Australia’s announcement of the lowest wheat harvest in more than a decade due to drought and recent fires has influenced the market. Australia may have to import U.S. wheat.