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Chicken market was relatively quiet. The breast market is higher, as wings and tenders are steady with ample supply.
Packers continue to maximize profits before year end by harvesting as many animals as possible. The market continues to soften on demand. Chucks and rounds are following seasonal trends and strips continue to our perform ribs.
Spareribs continue to gain strength with retail driving the market. Loins are trading sideways and butt demand looks to pick up after the holidays.
Inflation prices are hurting the sector as 85% of the seafood in the US is imported. Atlantic salmon inventories are rising while most of the tilapia being harvested are small.
Mushrooms are in serious trouble. The sector continues to be plagued by limited availability and excessive prices. Strawberries are still scarce and in poor supply.
The Kitchen Sink
Natural and processed cheese markets were down for the week. Both egg and butter markets were up.
Increasing soybean oil supply has helped lower the market. Traders liquidated positions on many commodities including soybean oil due to concerns regarding the Omicron variant.