Market trends For week ending March 4, 2022 - Performance Foodservice
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market trends For week ending March 4, 2022
market trends
WEek ending March 4, 2022
Produce
MARKET OVERVIEW
MARKET ALERT
Avocado Force Majeure: Last Friday, the avocado stoppage
in Mexico officially ended and fruit was permitted to ship to • Asparagus - EXTREME
the United States on Saturday. Although final numbers are not • Avocados – FORCE MAJEURE
completely updated, the projections for week 7 (Feb 20, 2022) • Bananas – ESCALATED
• Brussel Sprouts – ESCALATED
were expected to be near 58.4 million pounds. What we do
• Carrots (Jumbo) – ESCALATED
know is that the fruit previously packed before the stoppage was • Corn – ESCALATED
a limited amount, and that crossed the border this past Saturday • Cucumbers – ESCALATED
(Feb 19, 2022). With that said, all importers trying to cross are now • Eggplant (East) - ESCALATED
facing a backlog of 2-3 days due to the increased volume causing • Garlic – EXTREME
delays at border crossing sites. New fruit harvested Saturday is • Ginger – EXTREME
just now starting to cross into the U.S., and with U.S. inventories • Grapes – ESCALATED
are down to 33.8 million pounds. Please know, it’s going to take • Limes – EXTREME/FORCE MAJEURE
some time to replenish the supply chain. Demand for fruit in the • Mushrooms - EXTREME
field is strong and field pricing is on the rise, despite our partners • Pineapple – ESCALATED
best efforts to push pricing down, we can expect to see higher • Romaine & Romaine Hearts - ESCALATED
cost fruit for the short-term. Once the supply chain is replenished,
we expect to see a retreat in pricing, however fruit must filter its
WATCH LIST
way through the system, and we expect to see a wide range in • Arugula
pricing this week. Newly harvested fruit is demanding a higher • Florida Fruit and Veg
cost and we can expect the market to stay elevated for at least the • Green Beans
• Snow Peas
next few weeks.
Limes – EXTREME/FORCE MAJEURE- We will see one of the
most challenging weeks as volume will be extremely light crossing
form Mexico and quality continues to be marginal. Force Majeure will continue to improve from Chile, but we are seeing
and extreme market conditions continue. We ask you continue some logistical challenge as we get towards the end of
to be flexible on sizing and consider scaling back on portions, the season. Banana volume has firmed up as shippers
removing temporally, or even subbing to lime juice or fresh lemon struggle with color and strong demand in all sectors and
where possible. will be behind on color until they can get ahead of the
shortfalls. Volume is remains below normal but should
With regards to veg, moderate weather has allowed for stable improve over the next several weeks.
volume crossing through Nogales and McAllen on eggplant,
pepper: cucumbers got snug this week due to lighter production
and we should see a huge improvement next week. In the east
Import Cucumbers from Honduras are limited and the season is
winding down; we should start the transition back to Florida over
the next 2-3 weeks. Eggplant is also very tight in the east this
week and may continue through March. Import tomatoes from
Mexico continue to be stale and quality is outstanding, although
in Florida we continue to assess the core tomato items (rounds
and romas) which were impacted by the freeze late last month.
Corn out of Florida remains lighter than normal. Grape volume
YUMA, AZ FORECAST
2
market trends
WEek ending March 4, 2022
Produce (continued)
TRANSPORTATION Bananas
ESCALATED: Banana availability will continue to be less than
Historically when fuel rates are on the rise, a rise in freight
desired, but we are expecting to turn that corner over the next
rates follows closely behind. The national diesel average
few weeks. Cooler weather this time of year in the growing
is up to $4.055 per gallon, increasing $0.036 over last
regions typically makes Q1 the lowest production period of
week. Diesel prices on the east coast were up $0.069 per
the season, and we should see this improve as the weather
gallon, nearly double the national average. The continued
begins to warm up. We are still seeing greener fruit in supply
tightened capacity, combined with the large fuel increase,
chain than normal due to inventories being so light and turning
has kept east coast rates inching upward. Freight in and out
quicker than normal which does not allow fruit to fully color up.
of Canada remains at record highs as the border protests
We are seeing some pro-rates and substitutions out there but
persist. As onions and other produce begin to ship out of
should improve over the next few weeks.
Texas, we can expect to see tightened capacity and a rise
in rates that will likely be greater than past years due to the
Pineapples
heightened fuel prices. We are still anticipating the market
ESCALATED: Availability continues to be okay. The size profile
volatility to continue as fuel prices climb, and capacity
is trending to the larger sizes.
remains tight in many areas.
Grapes
FRUITS
ESCALATED: Red grapes are finally making their way to the
Apples & Pears DCs and availability will continue to pick up.
Apples: West coast new crop apples are being packed;
however small sizes remain tight. East coast apples are
available as well. Market price remains firm on small fruit as
local schools take most of the volume.
Pears: This year’s pear crop was down significantly, with
mostly larger fruit available. Growers are trying to drag
out supply as best as possible until new crop starts next
August.
Avocados
FORCE MAEJURE: Last Friday, the avocado stoppage in
Mexico officially ended and fruit was permitted to ship to the
United States on Saturday. Although final numbers are not
completely updated, the projections for week 7 (Feb 20, 2022)
were expected to be near 58.4 million pounds. What we do
know is that the fruit previously packed before the stoppage
was a limited amount, and that crossed the border this past
Saturday (Feb 19, 2022). With that said, all importers trying
to cross are now facing a backlog of 2-3 days due to the
increased volume causing delays at border crossing sites.
New fruit harvested Saturday is just now starting to cross into
the U.S., and with U.S. inventories are down to 33.8 million
pounds. Please know, it’s going to take some time to replenish
the supply chain. Demand for fruit in the field is strong and
field pricing is on the rise, despite our partners best efforts
to push pricing down, we can expect to see higher cost fruit
for the short-term. Once the supply chain is replenished, we
expect to see a retreat in pricing, however fruit must filter its
way through the system, and we expect to see a wide range in
pricing this week. Newly harvested fruit is demanding a higher
cost and we can expect the market to stay elevated for at
least the next few weeks.
3
market trends
WEek ending March 4, 2022
Produce (continued)
BERRIES CALIFORNIA CITRUS
Blackberries Grapefruit
Supply will be slightly lower than the current levels through Ruby grapefruit now available. Size is peaking on 32s and
February. Cold fronts and the natural shape of the curve larger fancy and all small sizes 36s and smaller are tight. Texas
will reduce the supply in the upcoming weeks. We expect is expected to start very late.
the shift from low to high supply to occur in mid-March.
California’s night temperatures are expected to dip into the Lemons
low to mid 30’s next week which will reduce the supply Are in full swing, quality has been good.
availability from the region
Limes
Blueberries EXTREME/FORCE MAJEURE: We are seeing some Force
Supply will continue to increase, driven mainly by Central Majeure activity, as well as a continued extreme market,
Mexico. Central Mexico production continues to increase with because of strong demand and extremely light volume. We
peak spring volumes in February. Baja production starting expect pricing to be at record highs over the next few weeks as
to ramp up in the next few weeks with strong volumes. The this will be the most difficult weeks of the escalation period. We
South American production is finished for the season. Florida expect to see pro rates if we cannot secure enough fruit at the
production will begin with light volumes this week. border for contracts based on the logistics issues and record
low volume for this time of year in Mexico. Please be flexible
Raspberries on sizing and consider scaling back on portions, removing
Volume is holding steady this week but should lightly down temporally, or even subbing to lime juice or fresh lemon where
trend over the next few weeks, and then pick up as we head possible.
towards the late April / early May spring peak. Most volume is
coming out of Mexico, Oxnard is producing minimal amounts Oranges
Availability on small sizes have increased, mostly fancy grade,
Strawberries and pricing around the high teens.
Overall, we expect volumes to increase over the next several
weeks. The upticks in production volume will be primarily driven
by Florida and Oxnard due to favorable weather and great fruit WEST COAST LETTUCE
size. Recently, Central Mexico has been our largest volume Butter Lettuce
contributor, however, they are expecting to down trend as they Overall volume and remains steady, although we continue to
come off peak volumes. see lighter in weights. Quality is good
Green Leaf Lettuce
Production in the Imperial Valley Holtville are good. Seeing
slightly lighter color and appearance with occasional fringe
and wind burn. Sizing is 9-11”. Markets and demand have
strengthened. Forecast showing cooler temps’ mid-week and
may impact harvest times.
Iceberg Lettuce
Supply continues to be steady this week; however, the next few
weeks, reports are for supply to lighten up. Quality has been
very good, and the market is steady to slightly higher due to
increased demand.
Red Leaf Lettuce
Supply is lighter, but quality remains good. Demand is good,
pricing is stronger.
4
market trends
WEek ending March 4, 2022
Produce (continued)
Romaine Lettuce Zucchini/Yellow Squash
ESCALATED: Romaine and Romaine Heart production supply Supplies are steady on both commodities out of Mexico and
is lighter. We continue to experience quality issues at the Florida. Warm days and minimal rain in the growing regions are
field level ultimately reducing yields with light blister and peel. bringing on strong volumes and good quality.
Overall quality is good as growers are peeling back as much
of the quality issues as possible. Plants that are healthy are Green Beans
exhibiting good color and texture, but we will continue to be WATCHLIST: Bean supply has improved this week and prices
subject to Blister, Peel and lighter weights, most likely through continue to be down. We need to keep a close eye on supply
the end of the Desert season. over the next several weeks but do expect improvement as
newer fields are breaking. Mexico continues to see stable
volume due to overall light demand.
EASTERN AND WESTERN VEGETABLES
Bell Peppers French Beans
We’re seeing a slight uptick in pricing on green bell peppers Volume remains stable, quality is strong, and prices are rising
out of Mexico as their production begins to transition from field due to the lack of green beans.
to shade house. The volumes are still more than adequate to
keep the pricing promotable. Florida quality has been strong,
and pricing has been kept in check by strong volume out of
Mexico. We’re expecting to see firmer pricing in weeks to
come. The colored bell pepper market has slightly adjusted
downward however the demand still exceeds supply.
Mini Sweet Peppers
Supply good loading in Nogales and quality very nice.
Slicer Cucumbers
ESCLATED: The import season will begin winding down this
week and we are seeing lighter arrivals at the port of Miami.
We expect a transition back to Florida over the next 2-3
weeks. In the west, we are seeing higher demand and lighter
supply as growers transition to newer blocks, we should
see volume ramping back up over the next 10 days out of
Nogales, and McAllen.
English Cucumbers
Supply is stable this week crossing through Nogales and FOB
prices were down this week.
Eggplant
Production will remain lighter out of Florida and expected to
get shorter due to freeze damage. We will need to assess
the development of the current crop closely for any potential
GAPS. Excellent supply crossing through Nogales and quality
is very nice out of both regions.
Pickles
Good supply available out Mexico crossing through Nogales
and quality is very nice.
5
market trends
WEek ending March 4, 2022
Produce (continued)
HERBS MELONS
Basil Cantaloupe
We are anticipating a good spring and summer and have This week and next will be the transition weeks as first cycle
increased our plantings to ensure that there is plenty of basil. production from Honduras decreases while second cycle
Our current supply of basil is back to where we need it to be. production from the Zacapa Valley of Guatemala begins to
General increase. We expect to begin seeing stronger numbers by the
Some items that are short are Tarragon and Lime Leaves. end of next week into Florida with increased volume into the
These two have taken a setback due to cold temps and northeast, Texas, and California around March 11th. Growing
looking a little on the yellow side. There is a small amount of conditions in Guatemala continue to be ideal so far which
tarragon in town but very expensive. We do have lemon grass means we are expecting high quality melons to close out the
and epazote available this week. We also have Bay Leaves, last three months of the season. Cantaloupe quality remains
Culantro, Garlic Chives and Lovage. strong with brix levels maintaining a 12-14% range with a very
good flavor profile.
Honeydew
fairly scarce as sizing has shifted mostly to 6s followed by 8s.
We expect lighter supply to continue through next week before
beginning to elevate the week of March 7th.
Watermelon
Lighter supply continues this week crossing through Nogales
and Texas with moderate demand. Quality is good and FOB
prices remain strong this week and offshore supply limited on
cartons out of South Florida.
MIXED VEGETABLES
Artichokes
Artichokes will have frost damage from recent weather
impacts. This is not unusual for this time of year as cold
nighttime temperatures will affect the artichokes still on the
plants. Some of the frost areas will turn brown over the next
few days after packing creating some additional discoloration
as well. Supply is improving.
Arugula
We continue to see light supply. Growers continue to see
many fields with mildew and yellowing which is causing light
supply.
Asparagus
EXTREME: The Asparagus situation continues to worsen out
of Mexico as cool weather continues to slow growth. Cool
weather is still in the forecast through this week so we will
continue to see light supply through the first week of March.
On the positive side, there is warm weather in the forecast
for late next week, so we are expecting supply to increase by
mid-March.
6
market trends
WEek ending March 4, 2022
Produce (continued)
Bok Choy Green Cabbage
Bok Choy volume is expected to be lighter for the next two to Supply has improved and has the ability to increase this week.
three weeks. We have seen some wilting issues coming out of Weights are improving as a result of crop movement; however,
the field and working with grower to correct this issue. seeing cone shape heads for this week.
Broccoli/Broccoli Florets Green Onions
Supply is very good this week. Supply is finally getting back to somewhat normal; quality is
good.
Brussels Sprouts
Volume continues to be strong. Expect to see strong volume Jicama
and soft market for the next few weeks. Steady supply available crossing through McAllen.
Carrots Kale (Green)
ESCALATED: Current demand exceeds predicted supply while Bunched kale supply is expected to be plentiful for the next
lower than average yields caused by cold wet weather has few weeks. Now is a good opportunity for promotion.
limited availability. Shippers continue to struggle with labor due
to COVID and not having enough workers show daily to pack
carrots.
Cauliflower
Supply is expected to be steady this week.
Celery
Lighter supply. Quality is good and the market is steady.
Cilantro
Cilantro volume is expected to be excellent this week. Overall
quality is very nice. Now is a good opportunity for promotion.
Corn
ESCALATED (EAST): Supply will remain hit and miss this
week and prices were down We expect a bumpy ride over
the next few weeks as growers are seeing damage immerge
the crop from our last round of weather. We do expect losses
to impact the markets for the remainder of the winter season.
FOB prices were down this week in general due to demand
but expected to remain firm. In the west, supply is stable
crossing through Nogales.
Fennel
Supply remains extremely snug.
Garlic
EXTREME: Domestic supply is also very tight. Shippers are
holding to averages but we expect this volatile market to
continue through next summer.
Ginger
EXTREME Ginger is very volatile due to very inconsistent
supply and market is higher. Supply remains tight for the
foreseeable future.
7
market trends
WEek ending March 4, 2022
Produce (continued)
Mushrooms Sugar Snap Peas
EXTREME: Quality is good, although supply is extremely short Good volume. Good quality. Low demand.
and market is higher primarily due to a lack of labor, shortages
in component of growing such as peat moss. We continue Spinach (Bunched & Baby)
to see this ongoing trend and hope to see some retreat this Supply and quality are good this week.
quarter.
Spring Mix
Napa Cabbage Supply and quality are good this week.
Volume and quality are both good, market continues to be
steady. Sweet Potatoes & Yams
New crop cured is in full swing with heavy shipments over
Parsley (Curly, Italian) the holidays. Growing conditions were optimal for this year’s
Parsley supply is expected to be excellent this week. Now is a crop out of North Carolina. Expect good supply with a wide
good opportunity for promotion. size variety.
Rapini
Excellent supply this week and next. ONIONS
The onion market remains strong out of both the Northwest
Red Cabbage and Mexico. We saw solid demand for yellow onions this
Supply is good out of Holtville. Quality remains consistent with week on all sizes, so we can expect prices to strengthen a
sizing and overall appearance. touch next week. Red onions continue to be a hot item, with
prices increasing this week. We fully expect prices to continue
Snow Peas to strengthen on all sizes and colors as the growers look to
Good volume. Good quality. Low demand. stretch out their crops as long as they can. In Mexico, cooler
temperatures have slowed down their ability to get into the
fields and really start to move volume. This time last year, most
shippers were crossing 30 loads per day compared to the
10 per week we’ve been seeing. We fully expect to see more
volume start to cross on all colors by the middle of next week.
POTATOES
Freezing temperatures in Idaho this week have once again
stalled growers abilities to get into their storage and bring
in potatoes to run. Weather forecasts show temperatures
warming up next week, so hopefully that is the last of the cold
delays for this season. The potato market remains pretty stable
at the moment, with some deals still to be had on large counts
as well as #2’s.
TOMATOES
Mexican crossings out of the Culiacan growing region are at
their peak. Volumes are particularly strong on romas and big
size round tomatoes. Grape tomatoes have leveled off pricing
wise with promotable volumes. The current crop out of FL is
adequate to support the demand. We will see some volume
drop off out of Florida come March due to bloom drop from
the freeze they’ve experienced at the end of January.
8
market trends
WEek ending march 4, 2022
Beef, Veal & Lamb
Last week, beef production rose 0.9% (w/w) and was up 21.3% from the same holiday-shortened week last year. Year-to-
date beef output is down 0.5% (y/y). Last week, nearby CME live cattle futures (w/w) were modestly lower but near levels not
seen in six plus years. The weekly average USDA Choice cutout was down last week but up 14.5% (y/y). Recent wholesale
beef price declines are much needed, especially before the springtime seasonal gains that usually occur. Per the USDA, Q2
beef production is forecasted to be down 1.6% (y/y), which may be a supportive factor for prices. From 2017 through 2021,
the Choice tenderloin averaged 2.1 %higher during March compared to the prior February. In the last five years, the 112a
Choice ribeye market averaged 6.3% higher in March compared to the average in the prior month. The Average, USDA, FOB
per pound.
Description Market Trend Supplies Price vs. Last Year
Live Cattle (Steer) Increasing Short Higher
Feeder Cattle Index (CME) Increasing Short Higher
Ground Beef 81/19 Decreasing Steady-Short Higher
Ground Chuck Decreasing Short Higher
109 Export Rib (ch) Decreasing Available Lower
109 Export Rib (pr) Increasing Available Higher
112a Ribeye (ch) Decreasing Available Lower
112a Ribeye (pr) Decreasing Available Higher
114a Chuck, Shlder Cld(ch) Decreasing Available Higher
116 Chuck (sel) Decreasing Steady-Available Lower
116 Chuck (ch) Decreasing Available Lower
116b Chuck Tender (ch) Decreasing Available Higher
120 Brisket (ch) Decreasing Available Higher
120a Brisket (ch) Decreasing Available Higher
121c Outside Skirt (ch/sel) Decreasing Steady-Available Lower
121d Inside Skirt (ch/sel) Decreasing Available Higher
121e Cap & Wedge Increasing Steady-Available Higher
167a Knckle, Trimmed (ch) Decreasing Steady Higher
168 Inside Round (ch) Increasing Steady-Available Higher
169 Top Round (ch) Decreasing Steady-Available Higher
171b Outside Round (ch) Decreasing Available Higher
174 Short Loin (ch 0x1) Decreasing Steady-Available Lower
174 Short Loin (pr 2x3) Increasing Available Higher
180 0x1 Strip (ch) Increasing Short Lower
180 0x1 Strip (pr) Decreasing Available Lower
184 Top Butt, boneless (ch) Decreasing Steady Higher
184 Top Butt, boneless (pr) Decreasing Steady-Short Higher
184-3 Top Butt, bnls (ch) Increasing Steady Higher
185a Sirloin Flap (ch) Increasing Short Higher
185c Loin, Tri-Tip (ch) Decreasing Steady Higher
189a Tender (sel, 5 lb & up) Increasing Available Higher
189a Tender (ch, 5 lb &up) Increasing Steady-Available Higher
189a Tender (pr, heavy) Decreasing Available Higher
193 Flank Steak (ch) Increasing Steady Higher
50% Trimmings Decreasing Steady Higher
65% Trimmings Decreasing Available Higher
75% Trimmings Decreasing Steady Higher
85% Trimmings Increasing Short Higher
90% Trimmings Increasing Short Higher
90% Imported Beef (frz) Increasing Short Higher
95% Imported Beef (frz) Increasing Short Higher
Live Cattle (Steer) Increasing Short Higher
Feeder Cattle Index (CME) Increasing Short Higher
9
market trends
WEek ending march 4, 2022
Grains
The grains markets were strong last week thanks to more uncertainty around the Black Sea region. Conflicting reports on
military buildups or drawbacks along the Ukraine-Russia border led to some dramatic price action for wheat as the week pro-
gressed. The corn and wheat markets are affected most by the Black Sea uncertainty, with Ukraine and Russia combining for
approximately 29% of the world’s wheat exports and 19% for corn, while soybeans continue to push higher on South American
weather. Prices USDA, FOB.
Description Market Trend Supplies Price vs. Last Year
Soybeans, bushel Increasing Short Higher
Crude Soybean Oil, lb Increasing Short Higher
Soybean Meal, ton Increasing Short Higher
Corn, bushel Increasing Steady-Short Higher
Crude Corn Oil, lb Steady Steady-Short Higher
High Fructose Corn Syrup Increasing Steady-Short Higher
Distillers Grain, Dry Increasing Short Lower
Crude Palm Oil, lb BMD Increasing Short Higher
HRW Wheat, bushel Increasing Steady-Short Higher
DNS Wheat 14%, bushel Decreasing Steady Higher
Durum Wheat, bushel Decreasing Available Higher
Pinto Beans, lb Decreasing Available Higher
Black Beans, lb Decreasing Steady-Available Higher
Rice, Long Grain, lb Increasing Steady Lower
Dairy
Last week, the cheese block and barrel markets finished higher (w/w) and blocks are averaging 11.5% higher than the 2021 av-
erage. The CME spot butter market closed 7.2% higher (w/w) and is averaging 53.3% in 2022 compared to last year. Last week,
U.S. spot milk purchases were pricing at a small discount to class III government grade. Per the USDA, milk production this year
is forecasted to be a modest 0.4% more than 2021. Milk production in the European Union, New Zealand, and Australia has
been lackluster and a big reason why the international milk and dairy product markets continue to rise. Word is that ocean freight
shipping delays have slowed some cheese, butter, and milk powder exports, which is a testament to growing domestic demand
because the dairy markets have not faded. Domestic butter stocks are tight and need to build especially with the global dairy mar-
kets being above $3.000. The quarterly pivot model for cheese blocks still hints for the upside target of $2.110 being achieved.
The quarterly pivot model for spot butter says higher potential to $2.960 may occur. Class I Cream (hundredweight), from USDA.
Description Market Trend Supplies Price vs. Last Year
Cheese Barrels (CME) Increasing Short Higher
Cheese Blocks (CME) Increasing Steady-Short Higher
American Cheese Increasing Steady-Short Higher
Cheddar Cheese (40 lb) Increasing Steady Higher
Mozzarella Cheese Increasing Steady Higher
Monterey Jack Cheese Increasing Steady Higher
Parmesan Cheese Increasing Short Higher
Butter (CME) Increasing Steady-Short Higher
Nonfat Dry Milk Increasing Short Higher
Whey, Dry Decreasing Short Higher
Class 1 Base Increasing Short Higher
Class II Cream, heavy Increasing Steady Higher
Class III Milk (CME) Decreasing Short Higher
Class IV Milk (CME) Decreasing Short Higher
10market trends
WEek ending march 4, 2022
Pork
Last week, pork production was down 0.5% (w/w) but was 5.0% smaller than the same holiday-shortened week last year.
Year-to-date pork output is down 8.4% (y/y)! Last week, nearby CME lean hog futures were up a whopping 7.0% (w/w)
and the highest since August. Last week, the weekly average USDA pork cutout was up 5.9% (w/w) and was 20.1% higher
(y/y). Per the USDA, Q2 pork output is forecasted to be 1.8% less than 2021. There is likely upside risk for the various pork
markets as all meat proteins are being measured from a fiscal value perspective. Since 2011, the USDA pork cutout has
averaged (cumulative) 11.4% higher in Q2 compared to the average in the prior Q1. Pork belly (bacon) prices have been
increasing rapidly in recent days and are the highest since October. Pork belly prices usually are steady from February through
March. Prices USDA, FOB per pound.
Description Market Trend Supplies Price vs. Last Year
Live Hogs Increasing Short Higher
Sow Increasing Short Higher
Belly (bacon) Increasing Short Higher
Sparerib(4.25 lb & down) Increasing Short Higher
Ham (20-23 lb) Increasing Steady-Short Lower
Ham (23-27 lb) Increasing Steady Lower
Loin (bone in) Increasing Short Higher
Babyback Rib (1.75 lb & up) Increasing Steady Higher
Tenderloin (1.25 lb) Increasing Steady-Short Higher
Boston Butt, untrmd (4-8 lb) Increasing Steady-Short Higher
Picnic, untrmd Increasing Steady Higher
SS Picnic, smoker trm box Increasing Steady Higher
42% Trimmings Increasing Short Higher
72% Trimmings Increasing Steady Higher
11market trends
WEek ending march 4, 2022
Poultry
For the week ending Feb. 12, chicken slaughter increased 9.1% (w/w) but the average bird weight was down 0.8% (y/y). Ready-
to-cook chicken output increased 8.1% (w/w) and was 2.1% larger (y/y). Year-to-date ready-to-cook broiler production is running
1.1% below a year ago. Feed costs for chicken producers are rising but high chicken breast prices should encourage broiler
production. The USDA is calling Q2 chicken output to be 1.5% larger than a year ago. The chicken breast markets remain
historically inflated, and the chicken wing markets are finding support but are below the $3.000 price they averaged during most
of last summer. As mentioned last week the current price premium of chicken breasts over chicken wings typically doesn’t last and
suggests that price increases from here for breast meat may be limited, but price rises for chicken wings are likely. FOB per pound
except when noted.
Description Market Trend Supplies Price vs. Last Year
Whole Birds WOG-Nat Decreasing Steady Higher
Wings (jumbo cut) Increasing Steady Lower
Wing Index (ARA) Increasing Steady Lower
Breast, Bnless Skinless NE Increasing Short Higher
Breast, Bnless Skinless SE Increasing Short Higher
Breast Boneless Index (ARA) Increasing Short Higher
Tenderloin Index (ARA) Increasing Short Higher
Legs (whole) Increasing Steady-Available Higher
Leg Quarter Index (ARA) Decreasing Steady Higher
Thighs, Bone In Increasing Steady Higher
Thighs, Boneless Increasing Steady-Available Higher
Description Market Trend Supplies Price vs. Last Year
Whole Turkey (8-16 lb) Increasing Steady-Short Higher
Turkey Breast, Bnls/Sknls Increasing Short Higher
Eggs
Description Market Trend Supplies Price vs. Last Year
Large Eggs (dozen) Decreasing Steady-Short Higher
Medium Eggs (dozen) Decreasing Short Higher
Liquid Whole Eggs Steady Short Higher
Liquid Egg Whites Increasing Short Lower
Liquid Egg Yolks Steady Short Higher
Egg Breaker Stock Central Increasing Short Higher
12market trends
WEek ending march 4, 2022
Seafood
The U.S. seafood markets remain firm and are being supported as overall meat protein demand remains strong. Per the
USDA, total U.S. crustaceans (crabs/lobsters) imports during December were up 9.9% year-over-year and were the largest for
the month since 2015. U.S. salmon imports in December were 7.3% larger year-over-year, and in 2021 total salmon imports
were up 9.2% vs. 2020 and was a yearly record. Considering the U.S. is such a big seafood importer and with the persistent
ocean freight slowdowns, it’s a surprise that import volumes have remained strong. The various seafood prices will likely
remain inflated due in part to costly fuel costs for commercial fishing operations and solid demand for fresh fish. Pending sea-
food prices will be influenced by the changing value of the U.S. dollar as a strong dollar will encourage imports (and of course
the opposite is true). Prices FAS monthly imports.
Description Market Trend Supplies Price vs. Last Year
Shrimp (16/20 frz) Steady Short Higher
Shrimp (61/70 frz) Steady Available Lower
Shrimp Tiger (26/30 frz) Steady Short Higher
Snow Crab, frz Steady Short Higher
Tilapia Filet, frz Steady Short Higher
Cod Filet, frz Steady Short Higher
Tuna Yellowfin, frsh Steady Available Lower
Salmon Atlantic Filet, frsh Steady Steady Higher
Pollock Filet, Alaska, frz Steady Short Higher
13market trends
WEek ending march 4, 2022
Paper and Plastic Products
Description Market Trend Supplies Price vs. Last Year
WOOD PULP (PAPER)
NBSK- Paper napkin Increasing Short Higher
42 lb. Linerboard-corrugated box Increasing Steady Higher
PLASTIC RESINS (PLASTIC, FOAM)
PS-CHH-utensils, cups, to-go cont. Steady Steady-Short Higher
PP-HIGP-heavy grade utensils Steady Available Higher
PE-LLD-can liners, film, bags Steady Available Higher
Retail Price Change from Prior Month
Description Jan-22 Dec-21 Nov-21
Beef and Veal Decreasing Decreasing Increasing
Dairy Increasing Increasing Decreasing
Pork Decreasing Decreasing Increasing
Chicken Decreasing Increasing Increasing
Fresh Fish and Seafood Increasing Increasing Decreasing
Fresh Fruits and Vegetables Increasing Increasing Increasing
Various Markets
Last week, nearby Arabica coffee futures were down 1.9% (w/w) but are still up 81.2 % (y/y). Increasing rainfall has boosted
soil moisture conditions in Brazil, which is aiding its coffee crops. This news brought some modest price relief for coffee prices
late last week. Still, ICE-monitored coffee stocks are the lowest in 22 years. This factor and tight global coffee supplies are like-
ly to keep coffee prices supported but retesting the 10-year-plus high of $2.604 earlier this month could be a challenge. Price
bases noted below.
Description Market Trend Supplies Price vs. Last Year
Whole Peeled, Stand (6/10) Increasing Short Higher
Tomato Paste-Industrial (lb) Increasing Short Higher
Coffee lb ICE Decreasing Steady-Short Higher
Sugar lb ICE Decreasing Steady-Available Higher
Cocoa mt ICE Decreasing Steady Higher
Orange Juice lb ICE Decreasing Steady-Available Higher
Honey (clover) lb Steady Steady Higher
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