Market is unsettled. Total beef production for last week was up 14.7% compared to the prior week which was shortened due to the holiday. Total production compared to same time last year was down 0.5%. Total headcount for last week was 655,000 as compared to 650,000 for the same week last year. Live weights for last week were up 3 lbs. from prior week but down 13 lbs. from the same time last year. Overall demand has eased now that we have moved past the 4th of July. The extreme hot temps across much of the country is expected to have an additional impact on demand as we move into next week. Labor Day is just over a month away and buyers are already trying to cover their needs, and this is helping to keep the market in a more unsettled tone.
Grinds- Market is steady to weaker. The market has seen some slightly adjustments as we moved into the week and by mid-week demand has been improved compared to earlier in the week.
Loins- Market is steady to weaker. Lighter demand is putting pressure on the market.
Rounds- Market is steady.
Chucks- Market is mostly steady.
Ribs- Market is unsettled. The market for choice and higher grades is holding mostly steady this week where Select grade has seen mixed prices between packers based on available inventories. Demand has been mixed over the past few weeks helping to keep the market more unsettled.
Market is unsettled. Total pork production for last week was up 16.2% compared to the prior week which was shortened due to the holiday. Total production was up 8.8% compared to same time last year. Total headcount for last week was 2,415,000 as compared to 2,279,000 for the same week last year. Live weights for last week were down 1 lb. from prior week but up 7 lbs. from same time last year. Strong production is weighing on the market as several items continue to see inventories building. Some items are seeing improved demand and have started to see upward pressure after seeing sharps declines the past few weeks. African Swine Fever remains a concern and additional cases have been reported across Asia and Europe. Additional availability of product from Canada is putting additional unease on the market and helping to keep the market in a more overall unsettled tone.
Bellies- Market is unsettled. The market has seen large drops over the past few months, but the market has become more unsettled as the lower price points has made purchases look more favorable and demand typically improves over the next few weeks.
Hams- Market is firmer. Demand is improved and putting pressure on the market. The market has seen sharp drops over the past several weeks, but the good demand has reversed that trend as we moved thru this week.
Loins- Market is unsettled. Availability is mixed between packers and keeping the market in a more unsettled tone.
Butts- Market is steady to weaker. Lighter demand has helped to push the market lower as we moved into this week and the market has held mostly steady as we moved thru this week.
Ribs- Market is unsettled. Availability is mixed between packers, but this market has seen very sharp drops over the past several weeks due to lighter demand and good inventories.
Market is weaker. Total headcount for last week was 171,800,000 as compared to 165,628,000 for the same time last year. Average weights for last week were 6.27 lbs. as compared to 6.07 lbs. for the same week last year. The industry is at full production schedules and demand is showing some slight decline. In some categories, over supply is becoming an issue. Domestic demand for breast meat and tenders has dipped slightly and is not keeping up with the amount of industry production. Export demand for leg quarters continues to be steady and remains constant. Supply continues to be available to cover current demand trends.
WOGS- Market is weaker. Retail demand for rotisserie chickens has declined slightly and fast food sales are slowing a bit. Supply is in excess.
Tenders- Market is steady to weaker. Demand for select tenders remains steady. Foodservice demand for jumbo tenders has softened a bit. Supply is available.
Boneless Breast- Market is weaker. Retail demand for consumer sized breasts continues to show weakness. Foodservice demand for jumbo breast meat is trending downward. Supply is starting to outpace demand.
Leg Quarters and Thighs- Market is steady. The category remains supported by retail demand for fresh leg quarters and export demand for frozen leg quarters. Supply is available.
Wings- Market is steady. Domestic demand for all sizes continues to be well supported by foodservice operations and further processors. Supply is available.
Market is steady. Total headcount for last week was 4,293,000 as compared to 4,211,000 for the same week last year. Average weights for last week were 31.69 lbs. as compared to 30.75 lbs. for the same week last year. Egg sets for last week were up 0.97% from prior week and are trending down 1.98% for year to date versus same time last year. Whole birds continue to be in strong demand. Export demand for bone in parts is being reported as slowing a bit. Supply side is steady enough to cover the demands of the industry.
Whole Birds- Market is steady to firmer. Holiday bookings were reported as strong this year and much of the industry production is now going towards filling these orders. The market is currently well supported and availability for spot demand is limited. Supply is available but limited based on available sizes.
Breast Meat- Market is steady. Domestic demand continues to be consistent as retail detail and foodservice operations drive the volume. Supply is available, but not excessive.
Wings- Market is steady. Domestic demand for two joint wings has been a bit spotty. Export demand for whole wings is being reported as very active. Supply is available.
Drums- Market is steady is weaker. Domestic demand remains steady, but export demand is being reported as weaker than normal. Supply is reported as available and the market is being pressured.
Gulf Shrimp- Market is firm. Lower catch numbers and light inventories are keeping pressure on the market. The recent severe weather that hit the area this past weekend is putting additional pressure on production as fishing has been limited.
Black Tiger Shrimp- Market is steady to firmer. The largest of the sizes continue to see upward pressure as availability is very limited. There are very large price gaps between the sizes and the rest of the complex. The remaining sizes are holding steady this week.
White Shrimp- Market is steady to firmer. The market for 26-30 thru 41-50 count HLSO product is seeing upward pressure from all growing regions as demand is putting pressure on available inventories. The rest of the market is mostly steady this week.
King Crab- Market is steady but firm. Strong global demand has been keeping pressure on the market for several months.
Snow Crab- Market is steady. Demand has been lighter as we moved into this week and has helped to take some pressure off the market.
Warm Water Lobster Tails- Market is unsettled. New season product from Brazil is making its way into the market but currently still at lighter levels and not having a big impact due to inventories already being very light. Inventories are expected to improve over the coming weeks.
North American Lobster Tails- Market is unsettled. Production has been lighter than expectations and keeping inventories lighter. Demand has been very good for several months and keeping pressure on the market. Demand the past few weeks has been lighter and has taken some pressure off the market.
Salmon- Market is steady to weaker. Inventories are good for a fair demand.
Cod- Market is steady to firmer. Global demand has been good and keeping pressure on inventories. Demand is expected to remain good as we move thru 3rd quarter.
Flounder- Market is mostly steady.
Haddock- Market is steady to firmer. Tariff increases from China have put pressure on the market. Global demand has been strong and putting pressure on inventories.
Pollock- Market is steady to firmer. Recent catches are coming in with smaller sized fish and this is putting pressure on availability of larger sized fillets. Demand is very good.
Domestic Catfish- Market is unsettled. Production has been trending below expectations for several weeks and keeping inventories tight. Production has been gradually increasing over the past few weeks, but demand is keeping availability tight.
Tilapia- Market is steady.
Swai- Market is steady to weaker. Availability has been improving and helping to take some pressure off the tighter availability of smaller sized product. There continues to be a gap in pricing with smaller sizes continuing to see higher prices than larger sized fillets, but that gap has narrowed over the past few weeks.
Scallops- Market is steady.
Market is unsettled. The CME Blocks market moved higher this week while the Barrels market moved lower and higher. While milk supplies are tightening across the country, cheese production is active. Domestic demand for both cheddar and Swiss higher as grilling season is well underway. Cheese stocks are adequate for demand across the country. Retail ads for conventional cheeses is up four percent this week. Northeast milk output is seasonally lower as high humidity has affected cow comfort. Production and interest for Swiss and cheddar has increased. Midwestern milk supply is in good balance with processing as facilities are running full schedules. Foodservice and retail demand has moved higher.
Market is firmer. The CME Butter market moved higher this week. Production across the country has declined consistent with post-holiday trends. Bulk and print butter demand is reported as fair. Northeastern producers saw a return to seasonal levels after ice cream producers resumed production after the holiday. Stocks are adequate. Demand for bulk butter varies. Uncertainty surrounds the market as participants anticipate possible changes to US tariffs on import butter. In the Central region manufacturing is slower. Demand from grocery channels is good.
Market is steady to weaker. Retail demand is being reported as is inconsistent across the nation. Some areas are reporting weak retail activity while other regions are reporting steady retail activity. Foodservice and institutional demand is steady and meeting seasonal expectations for this time of year. Supply across most sizes is being reported as available. National weekly shell egg inventory reports shell egg inventory to be up 5.6% over last week.
Market steady to slightly higher. Massive carryover supplies from previous harvest and wet weather are hampering the new crop plantings and are impacting the current market. No significant movement up or down since mid-June. South American crops dominating exports to Europe and Asia adding to US surplus.
Market is unchanged. The weather is now favorable and as with soy, the wet weather made it hard to start the wheat crop on time. USDA reports less acreage for wheat this year but with a huge surplus on hand, this is not a huge effect on the market currently.
Availability for frozen peas is tight. A delay in planting due to weather has caused the green pea crop to be pushed back. Frozen peas should become more available by September.