The Dish Market Report, May 15, 2023

Commodity forecasting highlights from CommodityONE

This snapshot report is released every week. To learn more about the FULL report, click here.

Designed to support purchasing and forecasting teams in managing price risks, CommodityONE provides powerful tools like commodity forecasting and item-specific food cost modeling to help you plan smarter and maximize profitability. Learn how you can receive even more in-depth insights delivered daily from CommodityONE to elevate your strategy.

etgryhtjuy.webp

Expert insights curated weekly

ghytju.webp

Powered by CommodityONE

Top of Mind News

Poultry

Mother’s Day caused the breast meat to increase. Tenders are also still increasing quickly. The price of whole birds and cut ups rises in response to rising seasonal demand. Wings are largely stable with strong demand. Demand for dark meat is still high.

Beef

While rib and strip business is steady, there are some worries about potential inventory increases. Tenderloins and brisket prices are leveling off, and some packers are displaying sufficient supplies. As processors and the grinding of some round cuts assist to balance supply and demand, chucks and rounds remain constant. Grinds are consistent and want assistance on Memorial Day.

Pork

As anticipated, robust demand is projected to drive this market up through May, therefore butts increased once again this week. The market for ribs has remained stable despite rising demand and surplus cold storage inventory. Due to the release of Memorial Day retail ads, loin prices increased. As expected, fresh bellies decreased but should start to trend upward as supply shifts to processing. Trimmings fluctuated in price.

The Sea

Seafood

Seafood demand was very high due to Mother’s Day. The 2023 North Atlantic lobster season officially began on May 1. The Canadian Spring Pack, which runs from May 1 to June 30th, is the first season.

Produce

Growing region transitions and past weather events continue to cause lower overall yields and have kept markets higher; however, production is beginning to increase across many commodities, and we will likely see pricing begin to stabilize. Although growers are behind schedule on the mixed vegetables in the Salinas Valley growing region, supplies are beginning to increase, and many markets have declined. However, supplies are expected to remain volatile throughout the month of May.

Kitchen Sink

Dairy

Shell egg markets have not changed; they have stabilized. The butter and cheese markets are both still stable, but they both have negative undertones. For the month of May, there will be slight price reductions for Cream and Culture.

Grain

The price of soybean oil increased last week. The futures climbed up 220 points on Friday, which saw the majority of the greater trading activity. The main focus was on some weather concerns and some stronger energy, but traders recognized a pricing opportunity and added some long covering. Although production was down, the market for palm oil declined.

Want the full report in your inbox everyday?

Submit the short form to learn how to get the FULL CommodityONE report delivered DAILY to your inbox.

CommodityONE offers a diversity in format and provides definitive content that presents the trends and forecasts that align with what’s happening in the industry. Sign up for CommodityONE today to unlock the most in-depth foodservice commodities report on the market.

etgryhtjuy.webp

Expert insights curated weekly

ghytju.webp

Powered by CommodityONE

New Posts

Share this post

Recent posts

Review the latest reports and posts from the food service industry