This report represents information for the week ending March 27th, 2020.

Market is unsettled. Total beef production for last week was up 3.2% versus prior week and up 6.5% compared to same time last year. Total headcount for last week was 653,000 as compared to 636,000 for the same week last year. Live weights for last week were down 1 lb. from prior week but up 38 lbs. from same time last year. The large surge in retail demand has put pressure on availability across the category. Pricing has surged much higher as compared to just a few weeks ago. The surge in demand for ground beef at retail is also putting pressure on end cuts as processors need the additional product for grinding in an attempt to keep up with demand. The surge in demand has pushed the market higher on all cuts the past several days. As this week came to an end pricing has become greatly varied between packers with some lowering prices on some cuts while others were raising prices. Retail buying patterns have become more mixed as we move through this week.

Grinds- Market is unsettled. Product is very limited. Retail demand has surged, and product is difficult to come by as demand has outpaced supply.

Loins- Market is unsettled. Strong demand is pushing the market higher.

Rounds- Market is unsettled. This market has surged higher as packers are needing additional material for grinding as they try to keep up the very strong demand for grinds at retail.

Chucks- Market is unsettled. This market has surged higher as packers are needing additional material for grinding as they try to keep up the very strong demand for grinds at retail.

Ribs- Market is unsettled. Brisk demand is putting pressure on availability.

Market is unsettled. Total pork production for last week was up 5.4% versus prior week and was up 11.8% compared to same time last year. Total headcount for last week was 2,790,000 as compared to 2,503,000 for the same week last year. Live weights for last week were even with prior week and up 1 lb. from same time last year. Retail demand has surged putting pressure across the category. An exception to this has been bacon as foodservice demand has been lighter and the volume at retail has not closed the gap on those items yet.

Bellies- Market is unsettled. The drop in foodservice demand has pushed the market lower as we moved through this week.

Hams- Market is unsettled. Demand has been improved from prior weeks with export demand helping to give additional support to this market.

Loins- Market is unsettled. Retail demand has surged this week, putting additional pressure on availability. Availability had already been mixed between the packers causing gaps in availability.

Butts- Market is unsettled. Strong retail demand has pushed the market higher.

Ribs- Market is firm. The surge in retail demand is pushing the market higher.

Market is unsettled. Total headcount for last week was 171,690,000 as compared to 163,402,000 for the same week last year. Average weights for last week were 6.29 lbs. as compared to 6.10 lbs. for the same week last year. The retail channel has driven domestic demand for the past two weeks. With consumers hitting the supermarkets and stocking up on protein, chicken has been in high demand as consumers fill their home freezers. Depending on the state and local municipality, foodservice sales have been declining based on the number of hours or persons allowed to be in a restaurant. Export demand remains steady and dependent on which ports are available in the supply chain. Industry supply has been riding a daily roller coaster of extreme demand or non-existent demand depending on the plant and the channel they supply. Supply is mixed depending on the category and the channel

supplied.

WOGS- Market is unsettled. Retail deli operations have experienced huge demand for rotisserie chickens and 8pc cutups over the last two weeks. Market has been pressured upwards for two weeks and is now experiencing some weakness as demand is retreating to more normal levels. Supply is tight, but availability is starting to become available.

Tenders- Market is steady. The volume for tenders is usually driven by the foodservice and QSR segments of the business. Over the last two weeks, limited foodservice sales have been matched with strong retail sales. Therefore, supply and demand has been able to find some balance. Supply is available.

Boneless Breast- Market is unsettled. As consumers hit the grocery stores in record setting fashion, boneless breast is on the list of key items a shopper will buy. Medium and jumbo sized boneless is under high demand due to case ready sales in retail. Select size boneless is holding steady with QSR’s doing drive through business. Market has been pressured upwards for the last two weeks and is now showing some signs of leveling off. Supply has been extremely tight and is now starting to show signs of availability.

Leg Quarters and Thighs- Market is firmer. Leg quarters packed in 4/10# preprinted bags have been a key item in retail sales over the last two weeks. Consumers looking to fill their freezer find leg quarters to be a great retail value. Export volume for leg quarters remains steady. Supply is tight at the current time.

Wings- Market is weaker. Wing volume is usually driven by the March Madness basketball tournament and by the foodservice channel. With the tournament cancelled and foodservice operations temporarily stalled, the demand for wings is weak and the market is being pressured. Supply is available on all sizes of product.

Market is steady to firmer. Total headcount for last week was 4,162,000 as compared to 3,933,000 for the same week last year. Average weights for last week were 32.76 lbs. as compared to 33.46 lbs. for the same week last year. Egg sets for last week were down 5.07% from prior week and are trending down 0.42% for year to date versus same time last year. Whole bird demand is well supported by strong future bookings. With the recent uptick in retail sales, retail deli is giving a boost to boneless breast meat. Export demand continues to be steady for frozen parts. Supply is available.

Whole Birds- Market is steady to firmer. Future bookings have been strong. In the wake of coronavirus news and the increase in retail sales, retailers are putting whole birds in the meat case as means to have something to sell. Supply continues to be limited based on eggs sets and availability of bird sizes. At the current time, the market is being well supported. Supply is tight.

Breast Meat- Market is steady to firmer. Domestic demand from retail deli has gotten a huge lift over the last two weeks. Further processors are now having to replenish inventory and the need for boneless breast has improved. Supply is available.

Wings- Market is firmer. Export needs for two joints and whole wings has had a recent improvement in demand. Supply is tight.

Drums- Market is steady. Fresh drums are being supported by debone operations producing ground turkey. Supply is available.

Gulf Shrimp- Market is unsettled. Inventories are light with production not expected to seasonally improve until late spring.

Black Tiger Shrimp- Market is unsettled. The market has seen multiple sizes move lower in pricing due in part to uncertainty in demand related to Coronavirus.

White Shrimp- Market is unsettled. The market has pushed lower as demand has dropped over the past few weeks. China is a large buyer of Latin American product and that market has pushed lower over the past several weeks. Concerns over Coronavirus has the market in an unsettled tone.

King Crab- Market is unsettled. Inventories are good for current demand.

Snow Crab- Market is unsettled because of concerns related to coronavirus. Demand eased as we moved through last week and continues lighter again this week.

Warm Water Lobster Tails- Market is unsettled. Inventories have been limited for several months due to strong demand keeping pressure on lighter than expected imports. Concerns related to Coronavirus have put the market in a more unsettled tone as we move into next week. Demand has been much lighter.

North American Lobster Tails- Market is unsettled. Demand has moved lower and is putting downward pressure on the market, but prices remain at very high levels. New season fishing is supposed to begin in May but reports this week on issues related to the closing of the Canadian border have caused uncertainty on future production numbers.

Salmon- Market is unsettled. Inventories are good for a dull demand.

Cod- Market is unsettled. Inventories are good for demand that has eased from prior week.

Flounder- Market is unsettled. Demand is lighter putting pressure on the market.

Haddock- Market is unsettled. Inventories had tightened due to buyer awaiting the removal of the 25% tariffs on product from China but production in China was impacted due to coronavirus and inventories are now more limited with light production being seen for the past several weeks. The market has become more unsettled as Foodservice demand became lighter.

Pollock- Market is unsettled. Larger sized product is in limited supply due to recent catches being more on smaller sized fish.

Domestic Catfish- Market is unsettled. The large drop in Foodservice demand is putting pressure on the market.

Tilapia- Market is unsettled. Demand has been more unsettled as we moved into this week. Production is improving as plants come back online after Chinese New Year.

Swai- Market is unsettled. The large drop in Foodservice demand has put the market in an unsettled tone.

Scallops- Market is unsettled. Like other categories the drop in demand has the market in an unsettled tone.

Market is weaker. The CME block and barrel market moved lover this week. While much of the country is experiencing shutdowns of schools and businesses, retailers are experiencing a spike in demand.  Production across the country is mixed. In the northeast production schedules are lighter in some plants. Cheese and other dairy products have seen an increase in demand. Midwestern producer activity reports vary based on the manufacturing segment focus, whether food service or retail. Western producers report active production as milk remains abundant. Inventories are heavier in blocks than barrels.

Market is weaker. The CME butter market moved lower this week. Across the country producers are reporting demand in retail as strong. Food service demand is waning as inventories are growing. In the central region cream is plentiful. Retail demand is seeing higher demand. Northeastern producers report churning of print butter is steady in anticipation of Spring holidays. In the West butter inventories are growing.

Market is firmer. The recent news about the coronavirus and people staying home has had a major effect on shell eggs. Retail demand continues to be at near record levels as consumers stock up on eggs. With the Easter Holiday around the corner, baking is expected to improve. Foodservice demand has been slow due to the recent events. QSR sales continue to be active as consumers get breakfast via the drive-thru window. Supply is tight on medium and large sizes. Market is trending up on the medium and large sizes. National weekly shell egg inventory reports shell egg inventory down 12.6% over last week.

Market is unsettled. The market is down after firming early this week. This market is following the palm oil market that is down slightly.

Market is firm. Wheat futures prices are higher this week based off strong retail demand. Logistics issues from coronavirus are also hampering the raw wheat supply making it to mills.