Top of Mind News
- These 4 Things Have Changed Forever in the Restaurant Industry
- Top Food and Drink Finds at the National Restaurant Association Show
- Indies are Frustrated, Angry and Ready to Fight After RRF Failure
- Summer hiring likely to be challenged by a tight labor market
- Building a New Customer Base for Your Restaurant
Price increases are slowing for the random breast market which has been historically high. Tenders are tight with high prices. Production has been constrained from lighter bird weights.
Price points on chucks and rounds have stabilized and attracted grinders. Tenders continue to soften with a lack of demand. Buyers seem content to buy hand to mouth and not get over extended.
Butts have been trending up for Memorial Day. Loins are also trending upwards. Ribs remain flat for next week while bellies saw a slight uptick.
Demand from both retail and foodservice are causing market index’s for groundfish to trend higher. Mahi-mahi fishing is going through off-season in South America. The 2021/2022 catches are dismal and below average which is resulting in higher raw material costs with reduced landings.
Lime markets continue to improve this week though larger sizes will continue to be short. Tomato volume has tightened as volume was lower than expected. Capacity overall has tightened across the country. Shippers are looking for rates to drop.
The Kitchen Sink
The cheese markets appear to have leveled out after being on a steady increase. Strong exports have been a driver. Avian Influenza has pushed eggs higher. Butter markets were down with a soft demand.
The grain markets were strong last week with wheat markets finishing 12% higher. Soybean oil futures have been supported by a lackluster USDA report.