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Poultry
Bigger birds, better hatchability, and larger egg sets are allowing extra supply on the market, especially in the boneless market. Tenders and breasts are seeing increased supply on all sizes. Wings are seeing extra availability on larger sizes. Small wing availability is tightening. Dark meat demand remains very good.
Beef
Packers once again had to pay higher for cattle and were also able to lower the weekly slaughter which helped push prices higher across most all cuts. Ribs, tenders, strips, and short loins saw the largest increases on the carcass. Chuck rolls remain very limited and are trading at four year highs. Rounds and thins saw modest increases. Market is expected to continue to stay strong.
Pork
Butts both Bone–in and boneless are trading near established price levels. Loins are steady–again, demand continues to be down. Ribs are mixed–spareribs are ramping up for new year’s, while backs and louis are steady. Bellies are steady and the market is increasing slowly since mid–September. Trim is steady with minimal increases on the week.
The Sea
Seafood
Port strike lasted on a few days with minimal impact to the seafood imports sector. We are expecting demand to begin increasing on shellfish items due to the holidays, which generally firms that market up going into the end of the year.
Produce
The combination of heat, ongoing pest pressures, and severe weather issues in the eastern U.S. will continue to create challenges in the coming weeks. We will closely monitor the situation and keep everyone updated as we navigate through what promises to be a hectic October for the industry. Although the weather in Salinas has cooled slightly, the lingering effects of recent heat will continue to be felt. Certain crops, including endive, escarole, leeks, cilantro, and fennel, remain escalated, with bok choy at an extreme trigger point due to light supplies.
Kitchen Sink
Dairy
Shell egg markets are up this week. California and Northwest markets are up. Two farms were identified as HPAI positive over the weekend in Washington & Utah. The Block & Barrel are decreasing. Spot Cheese markets are falling faster than expected. Butter is down.
Grain
Soybean oil futures moved lower last week with excellent crop progress 10% above last year. Last week the WASDE report from the USDA was not very impactful to the market. Canola seed futures rose, Canola oil moved slightly higher. Palm continues to be higher. Corn, soybeans, meal, oil, and wheat all moved lower.
