This report represents information for the week ending April 13, 2018.

Supply issues on vanilla are prevalent. Madagascar produces the majority of the vanilla beans.  The major issue was caused by Cyclone Enawo in 2017 when it hit Madagascar.  A total of 70 percent of the vanilla fields in the district of Antalaha were destroyed!

Market is unsettled. Total beef production for last week was up 3.2% from prior week and up 8.8% compared to same time last year. Total headcount for last week was 615,000 as compared to 578,000 for the same week last year. Live weights for last week were down 6 lbs. from prior week but up 24 lbs. from same time last year. Demand has been below expectations and this has caused the market to become more unsettled as packers look to adjust prices to help bring inventories back in line with demand. The extreme weather has pushed back grilling activities across much of the country. A surge in demand is expected over the coming weeks as warmer weather brings people outdoors and their grilling activities become active.

 

Grinds- Market is unsettled. Unlike other cuts grinds have not seen as much downward pressure and in some instances, have seen packers raise prices over the past week.

 

Loins- Market is unsettled. Demand has been below expectations with the severe weather across much of the country.

 

Rounds- Market is weaker. Heavy inventories combined with a seasonal slowdown in demand are putting downward pressure on the market.

 

Chucks- Market is weaker. Light demand is putting pressure on the market.

 

Ribs- Market is unsettled.  The market has seen very large drops this week as demand has been well below expectations due in part to the less than desirable weather conditions.

Market is unsettled. Total pork production for last week was down 2.4% from prior week but up 1.3% compared to same time last year. Total headcount for last week was 2,335,000 as compared to 2,318,000 for the same week last year. Live weights were down 1 lb. from prior week but up 1 lb. from same time last year. Poor weather conditions combined with production levels that continue to outpace last year continue to put pressure on the market. Export concerns continue to be a topic and helping to keep the market more unsettled.

 

Bellies- Market is unsettled. After seeing downward pressure, the market actually moved higher last week as improved demand helped to put upward pressure on the market.

 

Hams- Market is firmer. The market saw upward pressure as we moved into this week due to improved buying activity.

 

Loins- Market is weaker. Demand is light.

 

Butts- Market is weaker. Light demand has not kept up with current production.

 

Ribs- Market is steady to firmer. Buying activity has improved over prior weeks and helping to move additional inventories.

Market is mixed. Total headcount for last week was 158,739,000 as compared to 161,475,000 for the same time last year. Average weights for last week were 6.14 lbs. as compared to 6.11 lbs. for the same week last year. Demand has improved as this week progressed. Retail advertising is improved and demand typically starts to seasonally improve over the coming days.

 

WOGS- Market is steady.

 

Boneless Breasts- Market is mostly steady. Buying activity is improved over last week.

 

Tenders- Market is steady to firmer. Demand is good and keeping inventories in tighter supply.

 

Thigh and Leg Meat- Market is steady.

 

Wings- Market is steady to weaker. Demand is light and putting pressure on the market.

Market is steady to firmer. Total headcount for last week was 3,950,000 as compared to 4,114,000 for the same time last year. Average weights for last week were 31.74 lbs. as compared to 31.36 lbs. for the same week last year. Demand is improved over prior weeks and helping to move inventories. Demand for items being booked further out in the year has been very good and pricing continues to see upward pressure with availability mixed between suppliers.

 

Whole Birds- Market is steady to firmer. Demand for product booked for later in the year has been very good and putting pressure on available inventories. 

 

Breast Meat- Market is steady to firmer. Demand has been improved as we moved into this week and helping to move additional inventories.

 

Drums- Market is steady.

 

Wings- Market is steady.

 

Gulf Shrimp- Market is steady but firm. Inventories are light for current demand. 

 

Black Tiger Shrimp- Market is unsettled. The market for larger sizes is firm due to limited inventories. The market for mid and smaller sizes is mixed and pricing varies

  based on available inventories by supplier and this is

  helping to keep the market in a more unsettled tone.

 

White Shrimp- Market is steady to weaker.  Inventories are good for a fair to light demand.

 

King Crab- Market is steady to firmer.  Strong demand for product in Asia is causing less availability for product for the US market.  Current inventories levels are light due to the surge in demand overseas.

 

Snow Crab- Market is steady to firm.  Inventories are very light as the market awaits new season product over the coming weeks.

 

Warm Water Lobster Tails- Market is firm.  Imports are seasonally slow and this trend typically continues thru July until new season product becomes available.  Inventories are very light for larger sizes and causing the market to push higher.

 

North American Lobster Tails- Market is firm.  Inventories are light for current demand.  Light inventories from other regions continue to put pressure on this market as buyers look to cover their needs and additional inventories are difficult to come by.

 

Salmon- Market is mixed.  The market for product from Europe is mixed with both higher and lower prices being seen based on region.  The market for product of Chile is mostly steady this week with a fair demand.

 

Cod- Market is steady but firm. Demand has been very good the past several weeks helping to keep upward pressure on the market. Inventory levels have been below expectations as we move into second quarter.

 

Flounder- Market is steady but firm. Inventories are light for current demand.

 

Haddock- Market is steady. 

 

Pollock- Market is steady. Demand has been strong and helping to hold the market at higher levels.

 

Domestic Catfish- Market is steady.

 

Tilapia- Market is steady.

 

Swai- Market is firm. Light imports are putting pressure on available inventories and putting additional upward pressure on the market.

 

Scallops- Market is steady.

Market is unsettled. The CME Block market has moved both higher and lower this week while the Barrel market has moved lower. Milk is readily available and expected to increase as the weather warms and spring flush nears. The Northeast region has seen a decrease in milk for bottling and therefore additional milk loads are moving into manufacturing. Inventories are reported as abundant.

Market is weaker. The CME Butter market has moved lower this week.  Butter production is active with readily available cream. Across the country producers report Spring holiday orders for the retail segment were good.

 

Market is weaker. Demand in retail segments is improving slightly in the wake of the Easter holiday. Business in foodservice segments is good especially where breakfast promotions are prevalent. The USDA National Shell Egg Inventory reports an increase of 3.9% over last week.

 

 

Market is soft at lows not seen in over a year. Driving these lows are surplus oil stocks, increased production and reduced demand. Argentine soy production is down while US and Brazil estimates are higher causing somewhat of a “wash”. Trade war talks still could play a factor in this market if true Chinese tariffs come to fruition. China is the world’s largest importer of soy oil and beans.