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There are excess medium wings available. Tenders are on a very tight supply. Jumbo wing pricing has been mostly steady. Extremely hot weather could change the favorable buying dynamics. 2.5% of the turkey population has been lost due to the Avian Flu.
Market price correction are expected to begin. Ribs, strips and tenders will remain steady or be slightly higher due to limited availability.
Ribs have a slight decrease as the summer buying season has slowed. Loins are moving up this week while boneless butts are strong. Butts did see a dip but should rebound.
Catches on peeling shrimp continue to be good. Scallop season has begun, but has been much slower than normal. The sizing of is consistent with this past year, where majority are 10/20’s, or smaller.
Overall demand is expected to increase over the next few weeks.There has been a lot of heat in the southeast that could bring crops early or damage them. There is improving volume on mid-sized to small limes. Larger sizes will continue to be short. Favorable weather conditions throughout the growing regions have fueled increased supplies for many commodities helping markets remain steady as we see increased summer demand. Harvest crews continue to wok product in the fields to mitigate quality issues.
The Kitchen Sink
Food service demand and good retail has pushed eggs higher. Good cream demand pushed the butter market higher this week. Cheese market rebounded this week due to increased exports.
Palm oil moved lower as Indonesian exports continue to increase. Soybean stocks were reported as being higher since the weather has been favorable for good soybeans.