Market is firmer. Total beef production for last week was up 2.2% compared to prior week but down 0.1% compared to same time last year. Year to date total beef production is up 0.2% compared to year to date 2018. Total headcount for last week was 655,000 as compared to 653,000 for the same week last year. Total headcount year to date is 27,802,000 as compared to 27,511,000 for year to date 2018. Live weights for last week were up 2 lbs. from last week but down 4 lbs. from same time last year. Demand is very good and keeping pressure on available inventories. Production delays at multiple plants over the past few days has put additional pressure on the market. Holiday buying interest has been strong and has helped to push the market higher on multiple cuts as we moved into this week. Allocations and shorts are common place and impacting availability. Holiday shipping schedules are just around the corner and this is expected to put additional pressure on production and logistics.
Grinds- Market is firmer. Demand is good and putting pressure on the market.
Loins- Market is mixed. Demand for strips has only been fair this week and availability is mixed between packers with larger gaps in asking prices this week based on availability. The rest of the market is steady to firmer with good demand.
Rounds- Market is firmer. Demand has been improving over the past few weeks and putting upward pressure on the market.
Chucks- Market is firmer. Retail demand has been very good and helping to keep pressure on the market.
Ribs- Market is steady to firmer. Demand has been very good leading up to this week and the market has pushed higher as a result.
Market is mixed. Total pork production for last week was down 0.7% compared to prior week but up 2.7% compared to same time last year. Year to date total pork production is up 4.2% compared to year to date 2018. Total headcount for last week was 2,669,000 as compared to 2,591,000 for the same week last year. Total headcount year to date is 107,313,000 as compared to 103,494,000 for year to date 2018. Live weights for last week were up 1 lb. from prior week but down 1 lb. from same time last year. Demand for holiday items is very good. Export demand is very good and putting additional pressure on the market. There was big news this week of China once again allowing imports of pork from Canada. Reports continue to show China is ramping up their imports of multiple protein types from around the world as well as they look to make up for the impact that African Swine Fever has had to their production.
Bellies- Market is unsettled. Demand has been improved as we moved through this week after seeing multiple weeks of lighter demand.
Hams- Market is firmer. Holiday demand combined with improved exports is pushing this market higher.
Loins- Market is mostly steady.
Butts- Market is steady to firmer. Improved demand helped to put upward pressure on the market as we moved through this week.
Ribs- Market is firmer. Demand for the past few weeks has been very good and keeping pressure on the market. The market is up over 11% from the same time last year.
Market is steady. Total headcount for last week was 172,986,000 as compared to 164,459,000 for the same time last year. Average weights for last week were 6.34 lbs. as compared to 6.26 lbs. for the same week last year. Retail and foodservice demand is being reported as fairly consistent for breast meat, wings, and tenders at the current time. Export demand for leg quarters and whole legs remains steady for the time being, but industry news is starting to speculate about future activity to the Pacific Rim. Supply continues to be readily available as production continues at near maximum output.
WOGS- Market is steady. The demand for sized WOG’s and cutting stock WOG’s remains consistent as we move into the colder months of the year. Retail demand for rotisserie chickens and 8pc cutups has been adequate enough to keep supply moving. QSR demand remains stable at the current time. Supply is available.
Tenders- Market is steady. Demand had been on a downward trajectory for the last month. Foodservice and retail volume seems to have stabilized for the time being. Supply is available.
Boneless Breast- Market is steady. Retail and foodservice demand has shown consistency over the last month and the market remains flat at the current time. Supply is available.
Leg Quarters and Thighs- Market is steady. Export demand for leg quarters has started to show steady movement and is keeping the market supported. Since export volume is a key driver of this category, speculation about future orders from the Pacific Rim remains a key talking point. Only time will tell. Supply is available.
Wings- Market is steady to weaker. The demand for wings had been on the decline for the past four weeks and is now finding new market levels. Foodservice demand and further processing have started to provide some level of support. Supply is available.
Market is steady. Total headcount for last week was 5,128,000 as compared to 5,182,000 for the same week last year. Average weights for last week were 30.16 lbs. as compared to 28.78 lbs. for the same week last year. Egg sets for last week were up 6.49% from prior week and are trending down 2.17% for year to date versus same time last year. Industry demand currently revolves around filling orders for whole birds as we approach Thanksgiving. Spot availability for whole turkeys and bone in breasts is being reported as limited. Export demand for drums and thighs remains steady. Supply for whole birds remains extremely tight. Supply for most parts is available.
Whole Birds- Market is steady to firmer. Shipments for Thanksgiving are in full swing and spot loads are getting harder to source. The supply side remains tight with many manufacturers still packing birds for fresh holiday orders. Supply continues to be scarce.
Breast Meat- Market is steady. Foodservice and institutional demand continues to be steady and is being reported as fair. The supply of boneless breast meat is being kept in check by many processors still packing bone-in breasts for holiday orders. Supply is available, but not in excess.
Wings- Market is steady. Export volume for whole wings and domestic demand for two joints continues to keep the market supported. Supply is available, but not in excess.
Drums- Market is steady to firmer. Export demand for frozen drums continues to be reported as active. Supply is available.
Gulf Shrimp- Market is firm. The National Marine Fisheries Services reported that year to date catches through September are down over 19% compared to same time last year. The largest increases in prices over the past several days have been on 16-20 thru 41-50ct. brown shrimp due to the light inventories.
Black Tiger Shrimp- Market is steady to firmer. As has been the case for several weeks, the largest of sizes remain very limited with continued up pressure on the market. The remainder of the market is holding mostly steady.
White Shrimp- Market is mostly steady. Imports year to date are up 1.1% compared to same time last year.
King Crab- Market is firm. Strong demand is keeping pressure on the market.
Snow Crab- Market is firm. Inventories are light for a strong demand.
Warm Water Lobster Tails- Market is firm. Inventories are light for a strong demand. Recent reports show that September imports were down 23.2% compared to prior month and product coming from the Bahamas dropped over 55% due to the results of Hurricane Dorian.
North American Lobster Tails- Market is firm. Inventories are limited and buying interest is very strong.
Salmon- Market is firm. The protests in Chile have impacted supplies of product heading to the US market and this is putting pressure on inventories and pushing prices higher.
Cod- Market is firm. Strong demand is keeping pressure on the market.
Flounder- Market is steady.
Haddock- Market is steady to firmer. Inventories are light for a strong demand. Global demand is very good and keeping pressure on the market.
Pollock- Market is steady to firmer. Larger sized fillets are in lighter supply due to recent catches being more on smaller sized fish. This is keeping pressure on availability and pricing on the larger sizes. The market for smaller sizes is mostly steady.
Domestic Catfish- Market is unsettled. Stronger demand and light production have been a concern for much of this year thus far. Production continues to trail expectations but has been improving. Inventories are varied between suppliers with asking prices and availability being mixed.
Tilapia- Market is steady.
Swai- Market is unsettled. Inventories are good for a light demand. Even though imports are well off compared to prior year the market has been pushing lower due to the lighter demand. Recent reports note that production costs are on the rise overseas and are putting upward pressure on imports.
Scallops- Market is steady.
Market is firmer. The CME Block market moved lower this week while the Barrel market moved both higher and lower. Availability of milk is mixed across the country. Both East and West regions report milk availability as readily accessible while Midwest region reports tighter supply. Production is strong in the Northeast. Inventories are steady. Despite tighter milk supply, Midwest producers report ongoing production, albeit at levels lower than in the previous year. Producers are pivoting to meet shifts in market needs. Western region producers report tighter supply of barrel cheeses. Domestic demand is steady compared to the previous week with export interest seeing a slight improvement.
Market is weaker. The CME Butter market moved lower this week. Nationally demand is stronger as retail, food service and wholesale segments react to growing consumer demand and seasonal trends leading up to the Thanksgiving holiday. In the Northeast demand is good and higher retail ad activity is reported. With healthy milk supply in the area, producers are churning to meet immediate customer needs. Central region producers report a mixture or production activity. Supply of bulk butter is steady. Retail demand is seasonally strong in the West and production is steady.
Market is firmer. Retail demand is improving due to the colder weather across the country and regional promotional activity. As we move into baking season, more retail features are expected to support holiday activities. Foodservice and institutional demand continues to be reported as steady for this time of year. Export demand is being reported as better than normal. Supply across most sizes is being reported as tight. Market is trending up on both large and medium sizes. National weekly shell egg inventory reports shell egg inventory to up 0.4% over last week.
Market is firm. Soy meal demand is much lower due to African Swine Fever, so soy crush has been lower. WASDE report out last week, estimated lower yield for US soy harvests than previously anticipated. Exports of soy products to China are ahead of the same period as last year.
Market is steady. Basis levels are firm to higher on the high protein wheats, but these are a very small portion of overall wheat sales. The US winter crop is 90% planted and hopefully there will be snow cover for moisture. All eyes are on Australia’s crop as deteriorating conditions could drive the US market prices up.