Market is mixed. Total beef production for last week was up 18.7% compared to prior week but down 5.4% versus same time last year. Total headcount for last week was 520,000 as compared to 545,000 for the same week last year. Live weights for last week were even with prior week but down 8 lbs. from same time last year. Production the past few weeks has been seasonally lighter due to the holiday weeks. This was further compounded by some plant closers across the middle of the country due to severe weather. The impact was not felt as much due to the seasonally light demand right after the holidays. Buying interest is mixed as buyers are looking to replenish their inventories now that the holidays are behind us. The light production has helped to push the market higher on some cuts while also helping to keep the market from seeing as large of drops on some holiday cuts once that demand eased. Recent reports show that thru October 2018 exports were up 12.3% compared to same time 2017.
Grinds- Market is unsettled. The lighter production combined with good demand has helped this market see large increases coming into this week. Supplier asking prices begin to vary by the end of this week as inventory levels vary between suppliers.
Loins- Market is mostly steady.
Rounds- Market is mostly steady.
Chucks- Market is steady to weaker. Retail demand has been light moving thru this week and has helped to push some cuts slightly lower as the week progressed.
Ribs- Market is mostly steady. The market appears to be more leveled out this week after seeing the seasonal drops for the past few weeks.
Market is mixed. Total pork production for last week was up 20% compared to prior week and up 6.3% compared to same time last year. Total headcount for last week was 2,262,000 as compared to 2,122,000 for the same time last year. Live weights for last week were down 1lb from prior week but even with same time last year. Live hog prices have been moving higher and the trend has continued again into this week. The USDA average has moved up 12% since mid-December. Production has been shortened the prior two weeks due to holiday production hours and also saw some production issue due to the severe weather across the Midwest. Recent reports show that exports thru October of 2018 were up 5.4% compared to same time 2017.
Bellies- Market is firm. Good demand is keeping pressure on the market.
Hams- Market is mostly steady.
Loins- Market is unsettled. Pricing is varied between suppliers due in part to varied inventory levels between the packers.
Butts- Market is steady to slightly weaker. Inventories are good for a fair demand.
Ribs- Market is firmer. Buying interest is good and putting pressure on the market.
Market is steady to firmer. Total headcount for last week was 137,882,000 as compared to 129,090,000 for the same time last year. Average weights for last week were 6.21 lbs. as compared to 6.14 lbs. for the same week last year. Demand for wings, tenders, and leg quarters is extremely strong. Demand for boneless is currently listed as steady. Industry supply is back to full capacity as plants are now running complete weekly schedules. Market is trying to find new trading levels as active demand is now being matched with full production levels.
WOGS- Market is steady. Demand from both retail and foodservice channels continues to be strong. Supply is back to normal production schedules. Sized WOGS and cutting stock WOGS are being held at firm levels.
Tenders- Market is firmer. Demand from foodservice and further processors continues to improve. Supply is limited, and the market continues to correct upwards.
Boneless Breast- Market is steady. Demand for all sizes of boneless breast has eased a bit over the last week, but still remains consistent and steady. Full production schedules and some Saturday production has put supply back at full capacity. Market is currently steady and not experiencing any movement.
Leg Quarters and Thighs- Market is firmer. Domestic demand from the retail sector has improved. Export demand has also shown improvement. Supply is available, but not in excess. Market is correcting upwards.
Wings- Market is firmer. Demand for all sizes of wings continues to be strong and active. The strong activity from foodservice operations and further processors continue to keep this line of business sold up. Supply is being held at premium. Market is correcting upwards.
Market is mixed. Total headcount for last week was 3,053,000 as compared to 3,242,000 for the same week last year. Average weights for last week were 33.30 lbs. as compared to 32.93 lbs. for the same week last year. Egg sets for last week were down 1.1% from prior week and are trending down 12.46% for year to date versus same time last year. Demand is steady for whole birds and mixed in the parts segment. Supply is being reported as available, but not excessive.
Whole Birds- Market is steady. Demand for fresh and frozen whole birds continues to be active. Supply is back to full production and available. Market levels are currently holding steady.
Breast Meat- Market is steady. Demand from retail deli, foodservice operations, and further processors continue to be consistent. Supply is available.
Wings- Market is steady to weaker. Demand for whole wings continues to be steady while two joint wings are slowing down. Supply is available, and the market is seeing some downward pressure.
Drums- Market is steady to weaker. Demand continues to be slow in both the domestic and export channels. Supply is becoming more available and market is seeing downward pressure.
Gulf Shrimp- Market is steady. Production is seasonally slower with production not expecting to see larger gains until we move into late spring. Inventories on browns are good for current demand while white shrimp inventories remain limited and more difficult to come by.
Black Tiger Shrimp- Market is mixed. Inventories on larger sized product remain limited and continue to push the market higher. Inventories on smaller sized shrimp are in much better supply and that market is steady to weaker.
White Shrimp- Market is unsettled. The market has been seeing downward pressure as we moved into the new year due in part to heavy inventories. Buying activity has been very good now that we have moved past the holidays. Buying interest in product from Latin America is active on reports that available inventories in that region are in lighter supply.
King Crab- Market is firm. Inventories are light for an active demand. The strong demand from the Asian markets is keeping continued pressure on this market.
Snow Crab- Market is mixed. The market for 5-8 oz Canadian product moved slightly lower as we moved into this week due in part to good inventories and a fair demand. Larger sized products are seeing an active demand and lighter available inventories. This is putting upward pressure on that market.
Warm Water Lobster Tails- Market is firm. Buying activity has been active for several weeks and is keeping continued pressure on the light inventories.
North American Lobster Tails- Market is firm. Inventories are limited, and demand is active. Production is seasonally lighter, and this follow lighter than expected landings over the past few months. Most of the production has been going to fulfill contracts and leaving little additional product available.
Salmon- Market is mixed. The market for product of Chile is steady to firmer with fair inventories for an active demand. The market for product from Europe is steady to weaker with good inventories for current demand.
Cod- Market is firm. Strong global demand is keeping pressure on the market.
Flounder- Market is firm. Inventories on smaller sizes has been improved over prior months but demand is keeping pressure on this market. Larger sized fillets remain in tight supply.
Haddock- Market is firm. Strong demand, reduced quotas, tariff increases, and lighter available raw materials are keeping upward pressure on this market.
Pollock- Market is firm. The strong demand on other species is putting additional focus on Pollock as buyers look to cover their needs. Reduced quotas are putting additional pressure on inventories.
Domestic Catfish- Market is steady.
Tilapia- Market is mostly steady. A surge in buying activity combined with the tariff increases helped to push the market higher as we moved thru 4th quarter. The market is holding mostly steady as we moved into this week.
Swai- Market is firm. Smaller sized fillets remain in light supply and are seeing continued pressure on the market. The market for all sizes are seeing pricing much higher than the past few years.
Scallops- Market is mostly steady.
Market is weaker. The CME Block and Barrel markets have both moved lower this week. In the Central region several plants have been shut down unexpectedly for maintenance issues. Demand in the region is steady. Pizza cheese producers have seen increased interest while producers of other cheese types are experiencing slowing demand. The Northeast cheesemakers report higher milk intakes. Production schedules are full, and inventories are growing. Western producers have seen slower than usual demand recently and are looking ahead to the football playoff season in hopes of seeing increased interest. Milk is plentiful in the region and inventories are heavy.
Market is firmer. The CME Butter market moved higher this week. Cream is readily available for churning of butter as well as other cream-based products. Inventories continue to build. Bakery segment interest has slowed. Some producers continue to build their print butter inventory. In the Northeast demand for bulk butter is good although print demand is down slightly. Maintenance issues are affecting producers in the central region causing some plants to shut down. Sales for both Foodservice and retail segments is good. Cream is the West is readily available. Most plants are running at full capacity.
Market is weaker. Retail demand is being reported as fair to weak due to limited feature activity. Foodservice and institutional demand is being reported as average. Supply is being reported as available in almost all sizes. Market is experiencing downward pressure. National weekly shell egg inventory reports shell egg inventory to be up 9.4% over last week.
Market is unsettled. Market has been higher and lower this week after seeing upward pressure earlier in the week based on reports that China trade negotiations with China are going well as agricultural products are a significant portion of the discussion. The US representative was quoted saying the outlook is optimistic. Other major soy export countries are not having favorable weather conditions and early predictions are for lower yields than previous years. US soy crop carryover is at record levels and will keep some pressure on this market.
Market is slightly firmer this week as futures prices moved higher. Recent trade talks with China and higher Russian export prices driving this market. This market as well as several others rely on government information from the USDA. With the current government shutdown affecting reporting, interpretation may make market react slightly different. Know that record high world wheat reserves may keep this market from changing drastically.