The Dish Market Report, May 23, 2022

Top of Mind News

Beef

Cattle are expected to remain steady. Overall beef demand seems to be modest this spring. There are less retail sales because wholesale beef markets are historically high. Consumers have been moving from higher end cuts to chuck, rounds and ground products for lower costs. 

Pork

US pork output is expected to be down due to unfavorable hog supplies. As Memorial Day approaches, butts are trending up along with loins. Bellies saw a slight uptick for the next week.  

The Sea

Seafood

the 2021/22 catches aren’t looking good and are below average, resulting in higher raw material costs. Canadian crab season has begun with 75% of the quota already being caught.

The Garden

Produce

There is more availability on small limes this week. Larger sizes will continue to be short. Volumes on tomato are tight. Avocadoes are expected to stay at or above current market pricing.

The Kitchen Sink

Dairy

Soft demand caused the butter markets to be down. Eggs move higher due to Avian Influenza concerns. The cheese market has appeared to level out.

Grain

Last week was very volatile for the grains market. Soy and corn so the most activity. Farmers in the midwest are making some progress with planting and getting back to normal levels. Favorable weather is expected in the corn belt.