Market is firm. Total beef production for last week was down 6% versus prior week and was down 2.6% compared to same time last year. Total headcount for last week was 609,000 as compared to 631,000 for the same week last year. Live weights for last week were down 1 lbs. from prior week but up 21 lbs. from same time last year. Buying activity has been picking up over the past several days and putting pressure across the market. The market has seen large increases in prices on several cuts over the past few days. Foodservice demand continues to improve as dining restrictions continue to ease across the country. Availability has become a concern with multiple packers as the recent surge in buying activity is keeping pressure on availability. Select Graded product is in very limited supply and prices have moved much higher than just a few weeks ago. Warmer temperatures across the country are expected to help fuel additional retail demand which is already seeing a good seasonal increase.
Grinds- Market is firmer. Demand has been improved and the market has continued to push higher. Retail advertising is expected to be good as we move through April.
Loins- Market is firmer. Multiple cuts have seen large increases as this week progressed. Buying activity has continued to improve over the past several days. Demand typically continues to seasonally improves as we move through April.
Rounds- Market is firmer. Good buying demand and lighter production numbers are keeping pressure on the market.
Chucks- Market is firmer. Improving demand and lighter production are keeping pressure on this market.
Ribs- Market is firm. The market has pushed much higher over the past few days. Select grade product is difficult to come by and prices have surged higher. Demand is typically seasonally improved as we move through the spring.
Market is firm. Total pork production for last week was down 2.9% versus prior week and was down 2.9% compared to same time last year. Total headcount for last week was 2,470,000 as compared to 2,573,000 for the same week last year. Live weights for last week were even with prior week and up 3 lbs. from same time last year. Easing of dining restrictions across the country are helping to improve foodservice demand at a time that production is moving lower. Cold storage inventories remain very low and keeping pressure on the overall market. Export demand has been good as global demand for pork is very strong. Additional cases of African Swine Fever continue to be reported in Asia and keeping pressure on their domestic production.
Bellies- Market is firm. The belly market has surged higher over the past few weeks and is well above same time last year. The sharp increases are a result of lighter production, higher foodservice demand, and strong exports over the past several weeks.
Hams- Market is firm. Light inventories and a strong demand have been keeping pressure on the market. Buying demand for Easter was good and kept pressure on the market for the past several weeks. Export demand has been very good and helping to move additional inventories. Demand for deli items is improving and putting additional pressure on the market.
Loins- Market is firm. Inventories are varied between suppliers helping to keep pressure on overall availability. Buying demand continues to improve and putting pressure on inventories.
Butts- Market is firm. Seasonal demand is very good and keeping pressure on the market.
Ribs- Market is firm. Retail demand has been good and now with the easing of dining restrictions foodservice demand is picking back up. Lighter production numbers will help keep pressure on the market over the coming days. Demand is typically seasonally better as we move through spring.
Market is steady to firmer. Total headcount for last week was 161,931,000 as compared to 164,732,000 for the same week last year. Average weights for last week were 6.23 lbs. as compared to 6.17 lbs. for the same week last year. Chick placements on fryers for week ending 5/8/21 are estimated at 164.5 million headcounts. Placements for previous week were 162.1 million and same week last year was 171.7 million. Retail and foodservice demand is moderate to strong. As for the supply side, plants continue to be faced with labor shortages which is limiting weekly throughput and floor stocks. Industry demand for boneless breasts and split breasts are steady to firm. Tenders, wings, and dark meat remain fully supported. Export volume on leg quarters and whole legs is rated as steady. Supply is tight across the industry with limited offerings for spot market activity.
WOGS- Market is steady to firmer. Fast food and retail deli business is being reported as vibrant with strong seasonal sales. All sizes of WOGS and 8pc cutups continue to clear on a weekly basis. Supply has tightened.
Tenders- Market is steady to firmer. Improved foodservice demand is keeping select and jumbo sizes well supported. The number of tenders being sized and portioned on a weekly basis is limited due to a lack of labor. Supply remains tight.
Boneless Breast- Market is steady to firmer. The retail channel is being supported by consumers enjoying the grilling season. In addition, consumers view poultry as a good alternative to the rising costs of other proteins. Foodservice volume continues to show improvement as the economy reopens. Fast food QSRs continue to promote sandwich options. Supply has tightened.
Leg Quarters and Thighs- Market is steady to firmer. Export sales continue to be sufficient to support the leg quarter market. Retail demand for drums and thighs is strong as these items are considered a value protein. Dark meat usage is on the rise from foodservice operations and further processors. Supply is tight.
Wings- Market is steady to firmer. Foodservice demand and carryout business have the wing category in a sold-out position on all sizes. In addition, further processors continue source all the small wings they can to replenish inventory levels. Limited supply is being reported on all sizes.
Market is steady to firmer. Total headcount for last week was 2,847,000 as compared to 4,047,000 for the same week last year. Average weights for last week were 32.77 lbs. as compared to 32.28 lbs. for the same week last year. Frozen whole birds remain fully supported with commitments for the holidays. Demand for breast meat, white trim, and tenders is strong as seasonal demand is taking shape. Domestic and export business on drums, thighs, and wings is moderate to good and keeping supply clearing well. Supply for whole birds is very tight, parts remain limited, and white meats are tight.
Whole Birds- Market is firm. Future orders to support the holidays have the category is a sold-up position. Supply remains tight, hen sizes are the most requested and offerings are light.
Breast Meat- Market is steady to firmer. Breast meat is rated as steady and frozen breast meat is reported as strong due to limited supply. Retail deli and foodservice are both performing well as seasonal demand is in full swing. Supply has tightened on fresh and frozen raw material.
Wings- Market is steady. Domestic and export volume for whole wings and 2-joints is adequate. Tom sizes remain more requested with all sizes are selling adequately.
Drums and Thigh Meat- Market is steady to firmer. Demand for all sizes of drums is gaining momentum. High demand for thigh meat is being reported as retail sales for ground turkey are strong. Supply is tight.
Gulf Shrimp- Market is firm. Demand has been very good for the past several weeks and is keeping continued pressure on availability due to limited inventories. There has been optimism is the recent catch numbers with the National Marine Fisheries Services reporting that year to date catch numbers through February are 31% higher than same time last year.
Black Tiger Shrimp- Market is firm. Inventories are limited and the market has seen price increases across all sizes over the past few weeks. Production costs and logistical concerns are putting additional pressure on the market.
White Shrimp- Market is firm. Buying activity is active and putting upward pressure on all sizes. The surge in foodservice demand is putting pressure on larger sized product which have not seen the normal demand for several months, so suppliers have been keeping these inventories at lower levels and the recent increase in demand is impacting availability.
King Crab- Market is firm. Global demand is strong and keeping pressure on available inventories.
Snow Crab- Market is firm. Inventories are limited for an active demand. Foodservice demand continues to improve as additional dining restrictions are lifted across the country. Demand is expected to be very good over the coming weeks.
Warm Water Lobster Tails- Market is firm. The market has continued to push higher over the past several days as the active demand is keeping pressure on limited inventories. Inventories have been limited for several months due to strong demand keeping pressure on lighter than expected imports. Low production the past few years and seasonal closures are keeping pressure on availability.
North American Lobster Tails- Market is firm. Demand continues to improve and putting pressure on very limited inventories. Seasonal plant closures are causing additional issues with the limited availability.
Salmon- Market is steady to firmer. Improving demand around the world is helping to put pressure on the market. Foodservice demand is improving and putting pressure on available inventories. This combined with ongoing logistical concerns is helping to keep pressure on the market.
Cod- Market is mostly steady. Inventories are good for current demand.
Flounder- Market is steady to firmer. Pricing is expected to be higher as we move into Q2 as suppliers’ costs are being impacted by tariff increases.
Haddock- Market is steady to firmer. Inventories are light for an active demand. Increased tariffs combined with higher production costs and more limited inventories are putting pressure on the market.
Pollock- Market is mixed. Larger sized product is in limited supply due to recent catches being more on smaller sized fish. Production delays in China are putting additional pressure on the market with reports of port closures backing up shipping lanes.
Domestic Catfish- Market is steady but firm. Inventories have been limited for several months and the easing of dining restrictions across the country is expected to help keep pressure on the market. Allocations remain common place and are anticipated as we move into the summer.
Tilapia- Market is firmer. Higher production and logistical costs are putting pressure on the market. Buying activity is improving as more dining restrictions ease across the country.
Swai- Market is steady to firmer. Improving demand is helping to tighten overall availability.
Scallops- Market is steady. The market is steady but firm for both domestic and product of Canada with additional fisheries set to open over the next few weeks. The rest of the market is holding mostly steady.
Market is weaker. The CME butter market has moved lower as the week has progressed. Availability of cream varies by region. Inventories overall are up year over year. In the northeast, butter production schedules have been higher with additional cream supply flowing into production. Retail demand remains healthy and foodservice demand is slightly higher. In the central region retail demand has exceeded expectations even as foodservice demand is increasing. Western producers report plenty of cream is available in the region. Interest in export has been steady. Production of butter for domestic use is slightly lower this week.
Market is unsettled. The CME butter market moved higher and lower this week. The NASS Cold Storage Report for February 2021 showed a 17 percent increase in butter holdings over the same month in the prior year. Eastern butter producers are beginning to see additional cream supply moving to ice cream production. Inventories in the region are steady. Retail demand is strong. In the central region foodservice demand is increasing. In the west, cream availability is ample for the time being. Producers are anticipating a seasonal rise in cream pulls into ice cream and other cream-based products. Butter for export is competitively priced and interest in exports is good.
Market is weaker. Retail activity is mixed across the regions of the country with some areas reported as light and others rated as good. Some regional promotional activity is being reported, but still not enough to influence market demand. Foodservice volume is reported to be improving across more and more regions of the country. Fast food sales remain constant and are rated as steady for this time of year. Supply is available on both medium and large sizes. Market is trending lower on both medium sizes and large sizes. National weekly shell egg inventory reports shell egg inventory down 0.9% over last week.
Market is firmer. The rising market on soy oil is now being compounded with allocations and shortages across the United States. It is anticipated that this trend could continue through at least this summer. Soybean markets and futures have been on the rise again over the last week. Three key factors are the root cause for the uptick in market levels: tight soybean supply in the United States, strong export demand, and rising demand from the bio-diesel sector of the economy. The Brazilian crop harvest is about 78% harvested which is considered average for this time of year. The crop out of Argentina remains uncertain as dry conditions have lowered expectations on yield. The market remains volatile and continues to change daily as new information becomes available.
Market is steady. Weather continues to be favorable for wheat domestic and abroad. The potential of China purchasing US agricultural products will weigh on how this market moves.
Reports of additional production capacity is beginning to emerge for some glove types. The vinyl glove market is seeing downward pressure as additional supplies are entering the supply chain. Supply is expected to be stable for the near future which will place additional pressure on the market. Vinyl/nitrile blend availability is stable at the present time though no softening of the market is expected. Latex gloves are seeing a resurgence in interest as nitrile supply remains tight. Supply of latex has become increasingly unstable as the demand has increased. The nitrile market has seen increased capacity recently. Though priority is still going to the healthcare industry, other industries have yet to experience an increase in availability. Poly resin markets have been unstable and rising though supply and availability are good. In transportation news, both domestic transportation as well as ocean freight operations continue to battle multiple challenges as attempts are made to keep up with increased traffic. There have been some improvements recently, as wait times on the water for incoming ocean freight are improving. Improvements in congestion are anticipated over the coming months.