Market trends For week ending May 13, 2022 - Performance Foodservice
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market trends For week ending May 13, 2022
market trends
WEek ending May 13, 2022
Produce
MARKET OVERVIEW
We are seeing more volume available on limes as well as some
MARKET ALERT
long-needed price relief on smaller sizes. Production seems • Avocados – ESCALATED
to be slowly improving; however, the overall conditions of the • Asparagus - ESCALATED
market will continue to be extreme through May on large-sized • Bell Pepper (Green) – ESCALATED
• Cantaloupes –ESCALATED
fruit, and we do not expect any significant volume on larger-
• Carrots (Jumbo) – ESCALATED
sized fruit until sometime in June. Tomato and squash markets
• Celery - ESCALATED
continue to be stable as we see strong production in the east • Garlic – EXTREME
and a relatively smooth transition in Mexico. Good Volume on • Ginger – EXTREME
cucumbers as local growers in South Georgia are breaking • Honeydews – ESCALATED
fields. Pepper is easing back as Volume starts up in North • Hot Peppers - ESCALATED
Florida and should continue to improve. Corn is hitting good • Limes – ESCALATED
stride, and Volume is available out of Belle Glade, Florida, as • Mushrooms – ESCALATED
well as the desert. Good Volume on cabbage and squash out • Oranges - ESCALATED
of South Georgia, and we expect the first picks on peppers
and cucumbers over the next two weeks. WATCH LIST
• Green Beans
• Snow Peas
• Sugar Snap Peas
TRANSPORTATION
We experienced an exponential decline in
average market rates across the board for
refrigerated and dry freight during April and
May. As we look to close out the first week of
May, it appears the rate plunge, as well as the
outbound tender rejection percentage, have
reached somewhat of a plateau. Outbound
Florida /Georgia saw some rate spikes this
week but likely due to Mother’s Day related
flower shipments flooding the market, which
we do expect to return back to normal
next week. While load/truck ratios remain
about the same in favor of shippers in most
regions, it’s less of a free for all where drivers/
carriers are taking loads for any rate or out of
desperation to keep their equipment moving.
This pushback from carriers may signal the
beginning of the spring/summer push in the
market for the produce season. While this
year’s produce season is off to a historically
slow start in regards to rates, we are seeing
an increase in shipments out of South Florida,
Texas, New Mexico, and Central/Southern
California. Look for these markets to continue
to tighten up over the next few weeks.
2
market trends
WEek ending May 13, 2022
Produce (continued)
SALINAS, CA FORECAST
FRUITS & VEGETABLES Pineapples
Pineapple availability continues to be okay. The size profile is
Apples & Pears
trending to size 5 and 6cts and availability on 7cts remains
Apples: West coast new crop apples are being packed;
limited.
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
BERRIES
larger fruit available. Growers are trying to drag out supply as Blackberries
best as possible until new crop starts next August. Growers are in post-peak production from central Mexico. After
the current week, they’ll begin descending from the Mexico
Avocados regions. The California region has been experiencing a delay
ESCALATED: Total volumes to the U.S. closed at from the cold weather and rain for the previous two weeks.
58.2-million-pounds for last week, and with two weeks of
decent volumes, pricing is now on the other side of the peak. Blueberries
The size curve is trending toward larger size fruit 48 counts Central Mexico volumes are decreasing, and Florida is on the
and larger, and with this shift to larger sizes (something that back end of their season peak, where we will see Volume for 1
we haven’t seen in 6+ months), the pricing between sizes more week. Baja production is in their spring peak in the next
will adjust the most. Larger sizes will continue to come down three weeks. Georgia is in their peak, and San Joaquin Valley
in price while the 60s and smaller may see an increase. will have light Volume this week and is expected to ramp up
Additionally, Peru’s sizing is trending towards larger-sized fruit quickly the following week.
that will arrive from Peru in a few weeks. With these added
volumes, we should see larger-sized fruit pricing decrease
further. Harvest out of Mexico has been very light for a few
days due to the push to get field pricing down in Mexico, and
this week will come in under the 55.6-million-pound harvest
projections. If there’s a decent pull for growers to reload after
Cinco, we could see pricing strengthen as we move into next
week – especially on small fruit 60 counts and smaller.
Bananas
Steady volume and good quality available. However, we are
seeing firm pricing this quarter due to record high fuel prices.
Grapes
The weather in Chile is ideal for grapes and has been for a few
weeks, increasing the supply imported into the U.S. Red Grape
pricing continues to be fairly low with plenty of supply. Green
grapes remain higher as fewer supplies have been shipped.
3
market trends
WEek ending May 13, 2022
Produce (continued)
Raspberries WEST COAST LETTUCE
Central Mexico will be entering its peak production starting
Butter Lettuce
next week and will descend rapidly, losing half of its volume
Quality is very good, and the market is steady.
by the beginning of June. Baja will continue to uptrend until
the end of May and decline quickly after the peak. Oxnard and
Green Leaf
Watsonville will continue to uptrend and keep volume afloat
Quality is very good with slightly lighter supplies; the market is
as Mexico volume declines. Watsonville kicked off the season
slightly stronger.
with light numbers, and Santa Maria will start harvest in the
second week of May. Oxnard will continue to uptrend and
Iceberg
harvest heavy volume at peak production in the second week
We are also seeing lighter supplies on iceberg with
of June.
much-increased demand; the market is stronger. Look for the
market to continue strong through next week.
Strawberries
Volumes continue to increase as the Northern District and
Red Leaf
Santa Maria increase in volume slightly. Although some
Quality is very good with slightly lighter supplies; the market is
damage was observed following the rain event, growers
slightly stronger.
have managed to clean up the fields and resume a regular
harvest schedule. Watsonville, Salinas, and Santa Maria report
Romaine and Romaine Hearts
large-sized fruit with excellent quality. Oxnard continues to
Quality is very good with slightly lighter supplies; the market is
decrease due to the lingering damage from the previous rain
slightly stronger.
event.
CALIFORNIA CITRUS
Grapefruit
Ruby grapefruit is now available. Size is peaking on 32s, and
larger fancy and all small sizes 36s and smaller are tight. Texas
is expected to start very late.
Imports/Specialties
Blood oranges are available in good supply. Imported clems
will be available soon.
Lemons
Are in full swing, quality has been good.
Limes
ESCALATED: Volume seems to be improving on smaller sizes,
and we are seeing downward pressure due to the increased
volume. However, the new crop limes are not sizing up, and
growers continue to cut ahead into the smaller fruit to keep the
supply chain full. We hope to see this trend continue as newer
groves are being harvested and the overall volume improves.
Unfortunately, we are expecting larger sizes will continue to be
short until Mid-June.
Oranges
ESCALATED Small oranges remain fairly tight, with market
pricing in the low $20’s for choice grade. Few navels remain,
but many growers are on to Valencias. Size structure peaking
56/72, with about 75% being fancy grade.
4
market trends
WEek ending May 13, 2022
Produce (continued)
EASTERN & WESTERN VEGETABLES Zucchini/Yellow Squash
Markets on zucchini and yellow squash are steady. Imports
Bell Peppers
out of Mexico are picking up. East coast shippers out of both
ESCALATED Green bell pepper market has adjusted down
Florida and Georgia are producing strong numbers. Demand
primarily on off-grade product. Good quality #1 pepper is
and quality remain strong.
still demanding the premium price. The demand has been
average. Georgia production is right around the corner, and
Mexico is winding down with their volumes.
HERBS
Eggplant Good availability and consistent supply of all herbs, except dill,
Good supply available out of Florida and Mexico. Georgia and which has been a challenge due to quality
Coachella are about 3 weeks from starting.
French Beans MELONS
Excellent supply and quality out of Guatemala. Cantaloupe
ESCALATED: Increased Mexican crossings combined with
Green Beans higher freight rates, especially from Florida due to Mother’s Day
WATCHLIST: Bean supply in the east is tight as the last of the flower pulls, have started to pressure the cantaloupe markets
Florida crops finishes. We should see better volume once we from their highs. Sizing on cantaloupe is moving away from
transition to South Georgia in 10-14 days. Mexico is about mainly jumbo fruit and providing a nice mix of 9, 12, and 15
done with the transition to Coachella in full swing, followed by counts. The current quality is the best growers have seen all
Fresno. FOB prices are expected to remain elevated for the season, with excellent shell color and solid internal brix.
next few weeks.
Honeydew
Jalapenos/Chili Peppers ESCALATED Increased Mexican crossings combined with
ESCALATED: We will continue to see marginal quality and light higher freight rates, especially from Florida due to Mother’s Day
supply out of Florida. In McAllen and Nogales, prices remain flower pulls, have started to pressure the honeydew markets
firm this week due to the transition. We hope to see better from their highs. Honeydew sizing continues to run heavier to
Volume over the next several weeks as newer regions ramp up the larger fruit 5 counts and larger leaving smaller sizes light
production. supply.
Mini Sweet Peppers Watermelon
Good supply and quality available. Good Volume available out of Florida, and quality is very nice.
Good Volume is also crossing through McAllen and Nogales
Pickles on Minis and Seedless.
Supply was lighter this week crossing through Nogales and
quality is very nice. We are seeing better numbers out of
South Florida this week as well.
Cucumbers
ESCALATED: Cucumber production is transitioning from
Florida to Georgia this week, and there’s not a ton of fruit
around. Quality is suspect on much of the remaining Florida
product, as the wind and weather have caused excessive
scarring, some sunken areas, etc. Fortunately, Georgia did
start with a few cucumbers this week. With more growers and
volume to come over the next 7-10 days, we should see better
quality and availability soon. FOBs have dropped a few more
dollars this week, primarily due to the Mexican markets.
5
market trends
WEek ending May 13, 2022
Produce (continued)
MIXED VEGETABLES Carrots
ESCALATED: Current demand exceeds predicted supply while
Artichokes
lower than average yields caused by cold, wet weather has
Quality has improved significantly, with good supply.
limited availability. Shippers continue to struggle with labor due
to COVID and not having enough workers show up daily to
Arugula
pack carrots.
Quality has improved with much better available supplies,
market is steady
Cauliflower
Quality is very good but with increased demand, Cauliflower
Asparagus
Market is strengthening but will remain active through next
ESCALATED: Oregon continues with slow production/heat in
week.
the fields, causing lower than normal yields due to seeding.
Southern Baja has better production this week, and this should
Celery
continue for the next 2-3 weeks. Guanajuato is still scheduled
ESCALATED Celery market is considerably stronger, but we
to start the last week in May. Peruvian production continues to
are starting to see quality issues in the fields in Oxnard. We are
increase every week in the north, and the south is still seeing
seeing seeders in all fields which is reducing available supply.
cooler weather. The market continues to be very active with the
Look for market to remain strong for approx. the next 2 to 3
transition and the Mother’s Day rush. Airspace is still very limited
weeks while growers navigate through the quality problems.
with the Mother’s Day flower rush continuing.
Corn
Broccoli/Broccoli Florets
Good volume available out of Florida and California. South
Quality is very good, with a good supply. We are anticipating
Georgia will ramp up in approximately 3 weeks. Quality is
a slight increase in the market next week, but currently the
outstanding.
market is steady going into this weekend.
Fennel
Brussels Sprouts
Supplies are lighter, quality is very good. Market is steady.
Sprout volume will remain below budget this week for the
coming week. Expect reduced fill rates on both Virginia and
Garlic
bulk categories. Quality has improved, but some soft texture
EXTREME: Domestic supply is very tight, and shippers are
and lighter density are noted. Expect to see continued strong
holding to averages, but we expect this volatile market to
demand on tight supplies.
continue through next summer.
Ginger
EXTREME: Ginger is very volatile due to very inconsistent
supply, and the market is higher. Supply remains tight for the
foreseeable future.
Green Cabbage
Steady availability continues out of Florida, South Georgia,
and Texas. In the west, weights are improving because of crop
movement, although we are seeing cone shape heads for this
week..
Green Onions
Supply is good with very good quality, Market is steady.
Jicama
Steady supply available crossing through McAllen.
Kale (Green)
Supply is steady, quality is very good.
6
market trends
WEek ending May 13, 2022
Produce (continued)
Mushrooms Spinach (Bunched & Baby)
ESCALATED: Quality is good, although supply is down and Supply and quality are good.
markets are higher primarily due to a lack of labor, shortages
in the growing components such as peat moss, and other Spring Mix
inflationary pressure. We expect to see this continue to be Supply and quality are good.
a challenge until some of the growing costs can get under
control of this particularly labor intensive and cost sensitive Sweet Potatoes & Yams
item. Demand continues to be stable across all sizes and varieties.
There are deals to be had on both #1’s and Jumbos out of
Napa Cabbage North Carolina. FOB’s out of Mississippi are a bit higher but
We are seeing decreased availability until we see supply quality out of that region has been outstanding. We should see
increase out of Salinas. prices gradually start to rise throughout the summer months
and into the new crop.
Parsely (Curly, Italian)
Parsley supplies are expected to be steady this week.
ONIONS
Rapini Texas onions were slow to start this week with the recent
Excellent supply this week and next. rainy weather down South. Most sheds were limited or sold
out until later this week. Texas onions should finish up in the
Red Cabbage next couple of weeks before we move to California and New
Supply is good as quality remains consistent with sizing and Mexico. California began ramping up their production this
overall appearance. week out of the Brawley. There is also a good amount of
round onions shipping out of Vidalia, Georgia. This year, they
Snow Peas & Sugar Snap Peas increased their acreage and have availability on all three colors,
WATCHLIST: Guatemala production started to see some which makes sense for customers in the East.
quality issues due to rain in the snow peas at the field level.
The sugar snap supply has improved from last week. Mexico
production is light with quality fair to good. U.S. product has POTATOES
started with fair supply and good quality.
This week, we saw FOBs rise out of Idaho on all carton
sizes. As predicted, we are seeing limited availability on larger
cartons, especially 40-80 counts. It is looking like it will be
a very active potato market this summer as growers look to
stretch their crops until the new crop begins. Colored, as well
as fingerling potatoes, remain very tight.
TOMATOES
Roma tomato market out of Mexico is active. This should be
short lived as we expect to see stronger crossings in the next
couple of weeks. The round crossings have been heavier
towards the 5x5s, 5x6s, or smaller spec size. Bigger rounds
have been limited. Round tomato supplies continue to improve
out of Florida. Availability has gotten better, and we are seeing
flexibility in pricing. Florida Romas are lagging a bit, however,
we should start seeing stronger volumes in the next couple of
weeks.
7
market trends
WEek ending May 13, 2022
Beef, Veal & Lamb
Beef production last week declined 1.4% (w/w) but was up 1.6% (y/y). Year-to-date beef output is running 0.8% bigger than a year ago
which compares to the USDA’s H1 (’22) beef production (y/y) gain of 0.5%. The weekly average USDA Choice cutout was down 2.4%
(w/w) and was 9.8% lower (y/y). Beef demand is showing signs of weakness which isn’t a surprise considering the USDA choice boxed
beef cutout is the third most expensive for this time of year on record. The beef trim and ground beef markets are historically inflated, and
beef trim import prices are elevated as well. Per the USDA, on March 3rd domestic cold storage boneless beef inventories were 8.1%
larger (y/y) and grew by 0.6% during the month. It appears (at least so far) that this year’s springtime beef price increases are going to
remain modest and the seasonal peak may have already occurred. In Q2 so far the USDA Choice boxed beef cutout is averaging 0.6%
lower compared to Q1 which is counter-seasonal price action. Since 2011 the USDA Choice boxed-beef cutout averaged 10.8% higher
in May compared to the prior April but this same USDA Choice boxed beef cutout averaged 6.0% lower in June versus the previous May.
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 Steady Higher
Ground Beef 81/19 Increasing Steady Higher
Ground Chuck Decreasing Steady Higher
109 Export Rib (ch) Increasing Short Lower
109 Export Rib (pr) Increasing Steady-Available Lower
112a Ribeye (ch) Decreasing Short Lower
112a Ribeye (pr) Decreasing Steady-Available Higher
114a Chuck, Shlder Cld(ch) Increasing Steady Lower
116 Chuck (sel) Decreasing Available Lower
116 Chuck (ch) Decreasing Available Lower
116b Chuck Tender (ch) Decreasing Steady Higher
120 Brisket (ch) Decreasing Available Lower
120a Brisket (ch) Decreasing Steady-Available Lower
121c Outside Skirt (ch/sel) Increasing Short Lower
121d Inside Skirt (ch/sel) Decreasing Short Lower
121e Cap & Wedge Decreasing Steady Higher
167a Knckle, Trimmed (ch) Decreasing Steady Higher
168 Inside Round (ch) Decreasing Steady Higher
169 Top Round (ch) Decreasing Steady Higher
171b Outside Round (ch) Decreasing Steady-Available Higher
174 Short Loin (ch 0x1) Decreasing Short Lower
174 Short Loin (pr 2x3) Increasing Steady Higher
180 0x1 Strip (ch) Decreasing Short Lower
180 0x1 Strip (pr) Increasing Short Lower
184 Top Butt, boneless (ch) Increasing Steady Lower
184 Top Butt, boneless (pr) Increasing Steady Lower
184-3 Top Butt, bnls (ch) Increasing Steady-Short Lower
185a Sirloin Flap (ch) Decreasing Steady-Short Lower
185c Loin, Tri-Tip (ch) Increasing Steady Lower
189a Tender (sel, 5 lb & up) Increasing Steady-Short Lower
189a Tender (ch, 5 lb &up) Increasing Short Higher
189a Tender (pr, heavy) Increasing Available Higher
193 Flank Steak (ch) Increasing Short Higher
50% Trimmings Decreasing Steady-Short Higher
65% Trimmings Decreasing Steady Higher
75% Trimmings Decreasing Steady Higher
85% Trimmings Decreasing Steady Higher
90% Trimmings Decreasing Steady Higher
90% Imported Beef (frz) Decreasing Steady-Available Higher
95% Imported Beef (frz) Decreasing Available Higher
Live Cattle (Steer) Increasing Short Higher
Feeder Cattle Index (CME) Increasing Steady Higher 8
market trends
WEek ending May 13, 2022
Grains
The grain markets were mixed last week with corn and soybean oil up big on the news covered in last Tuesday’s Commodi-
tyOne Report (Indonesia banning all palm oil exports and Crop Progress Report showing no great strides made in plantings).
A new Crop Progress Report will be released today at 4 PM EST and given much of the corn belt was still cold and wet last
week, expect plantings to still lag behind the 39% five-year average in today’s report. The 8-14 day precipitation outlook from
the NOAA puts rainfall at near-normal levels for most of the corn belt, so hopefully, next week will give farmers a chance to get
their corn crops in the ground. Expect nearby corn futures to possibly breach price resistance at $8.375 (R1) in the quarterly
pivot this week if the gap between the five-year average planting progress of 39% and the current progress widens. We might
start to see some price reactions in the soybean markets too, with the five-year average soybean planting progress for today’s
report at 14% and last week’s 2022 season progress at 3%. Prices USDA, FOB.
Description Market Trend Supplies Price vs. Last Year
Soybeans, bushel Decreasing Steady-Short Higher
Crude Soybean Oil, lb Increasing Short Higher
Soybean Meal, ton Decreasing Steady Higher
Corn, bushel Increasing Short Higher
Crude Corn Oil, lb Increasing Short Higher
High Fructose Corn Syrup Increasing Short Higher
Distillers Grain, Dry Decreasing Short Higher
Crude Palm Oil, lb BMD Increasing Steady-Short Higher
HRW Wheat, bushel Decreasing Short Higher
DNS Wheat 14%, bushel Increasing Steady-Short Higher
Durum Wheat, bushel Decreasing Steady-Available Higher
Pinto Beans, lb Decreasing Short Steady
Black Beans, lb Increasing Short Higher
Rice, Long Grain, lb Steady Short Higher
Dairy
Last week, the cheese block market finished unchanged but the cheese barrel market closed 1.0% lower (w/w) both markets are
at levels not seen in 17 months. The good news within the dairy sector recently is finally seeing signs of weakening international
dairy markets. Last Thursday’s USDA’s surveyed bi-weekly international dairy report showed the following dairy market prices
(percentage difference from the previous report): cheese at $2.818 down 2.1%, butter at $3.289, down 1.6%, whey at $.743,
down 4.4% and nonfat dry milk at $1.983, down 3.3%. The USDA in its April WASDE report raised its U.S. H2 2022 milk produc-
tion forecast higher by 0.13% and is now projected to be 1.0% larger (y/y). Although the U.S. milk, cheese, and butter markets
typically increase from now through the summer, this year’s seasonal price gains may be limited due to already expensive prices
occurring. That said the future direction of the international dairy markets will either support or soften U.S. dairy export demand
which will continue to influence the equivalent U.S. dairy markets. Class I Cream (hundredweight), from USDA.
Description Market Trend Supplies Price vs. Last Year
Cheese Barrels (CME) Decreasing Short Higher
Cheese Blocks (CME) Steady Short Higher
American Cheese Decreasing Short Higher
Cheddar Cheese (40 lb) Increasing Short Higher
Mozzarella Cheese Increasing Short Higher
Monterey Jack Cheese Increasing Short Higher
Parmesan Cheese Increasing Short Higher
Butter (CME) Decreasing Steady-Short Higher
Nonfat Dry Milk Decreasing Steady-Short Higher
Whey, Dry Decreasing Available Higher
Class 1 Base Steady Short Higher
Class II Cream, heavy Decreasing Short Higher
Class III Milk (CME) Decreasing Short Higher
Class IV Milk (CME) Decreasing Steady-Short Higher
9
market trends
WEek ending May 13, 2022
Pork
Pork production last week was 1.2% larger (w/w) but was 0.2% smaller (y/y). Year-to-date pork output is running down 5.5%
(y/y) which is less than the USDA’s H1 (’22) pork production forecast of down 3.9% (y/y). The weekly average USDA pork
cutout last week lost 3.8% (w/w) and was 3.7% lower (y/y). Despite lagging (y/y) pork production and expected tightening
hog supplies moving forward, the wholesale seasonal pork market gains have not been impressive at least so far this spring.
U.S. pork export demand has fallen since last year, especially from China. Domestic pork production is expected to improve
however in the second half of 2022 which may limit any notable price gains for pork like was experienced last summer when
the USDA pork cutout established an all-time high. Since 2011, the average move for the USDA pork cutout during May
compared to the prior April is up 8.5%. Prices USDA, FOB per pound.
Description Market Trend Supplies Price vs. Last Year
Live Hogs Steady Steady Lower
Sow Decreasing Short Higher
Belly (bacon) Decreasing Steady Higher
Sparerib(4.25 lb & down) Increasing Short Lower
Ham (20-23 lb) Increasing Short Lower
Ham (23-27 lb) Increasing Short Lower
Loin (bone in) Decreasing Steady Higher
Babyback Rib (1.75 lb & up) Decreasing Available Lower
Tenderloin (1.25 lb) Increasing Available Lower
Boston Butt, untrmd (4-8 lb) Decreasing Steady Higher
Picnic, untrmd Increasing Short Lower
SS Picnic, smoker trm box Increasing Steady-Short Lower
42% Trimmings Increasing Steady Lower
72% Trimmings Increasing Short Higher
10market trends
WEek ending May 13, 2022
Poultry
Chicken slaughter for the week ending April 23rd was 0.09% lower (w/w) and the average bird weight was lighter by 0.3% (y/y).
Ready-to-cook chicken production increased 0.6% (w/w) but was 2.4% less than a year ago. Year-to-date ready-to-cook broiler
production is running 1.1% larger (y/y) which is slightly more than the USDA’s H1 (’22) chicken output forecast gain by 1.0%
(y/y). Last week the USDA national whole broiler/fryer index rose 1.1% (w/w) and was 61.1% higher than the same week last
year. Well, boneless skinless chicken breast prices continued to make all-time highs last week and have not shown any signs
of slowing down. The USDA reported that breast meat cuts are tight too short but they also described retail and foodservice
chicken demand as mostly moderate which sure doesn’t represent the rapidly rising breast prices. Friday’s USDA average
chicken breast price was a whopping $0.50 or 18.3% costlier than the 90% beef trim market which is rare, to “say the least”!
History suggests that there may still be upside chicken breast market increases pending but prices usually peak for the year in
May. Current USDA chicken wing prices are the lowest in 21 months so the downside risk for wings from current levels may be
nominal. FOB per pound except when noted.
Description Market Trend Supplies Price vs. Last Year
Whole Birds WOG-Nat Increasing Short Higher
Wings (jumbo cut) Decreasing Available Lower
Wing Index (ARA) Decreasing Available 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 Short Higher
Leg Quarter Index (ARA) Increasing Short Higher
Thighs, Bone In Increasing Short Higher
Thighs, Boneless Increasing Short Higher
Description Market Trend Supplies Price vs. Last Year
Whole Turkey (8-16 lb) Decreasing Short Higher
Turkey Breast, Bnls/Sknls Increasing Short Higher
Eggs
Description Market Trend Supplies Price vs. Last Year
Large Eggs (dozen) Steady Short Higher
Medium Eggs (dozen) Steady Short Higher
Liquid Whole Eggs Steady Short Higher
Liquid Egg Whites Steady Short Higher
Liquid Egg Yolks Steady Steady-Available Higher
Egg Breaker Stock Central Increasing Steady-Short Higher
11market trends
WEek ending May 13, 2022
Seafood
The various U.S. seafood markets have remained supported due partly to the solid overall protein demand. China, the world’s
largest seafood processor, and re-shipper are experiencing big-time ocean freight tie-ups (due to Covid) as tight population
lockdowns are occurring in Shanghai where the world’s largest shipping yard exists. The U.S. dollar has remained relatively
firm against most foreign currencies including the Japanese yen which is encouraging more seafood imports to the U.S. ver-
sus Japan which is a big seafood consumer. The aforementioned potential China-related seafood supply crunch could push
back even further the U.S pending Russian import ban on their seafood supplies. So, anticipate the various seafood markets
to remain supported and unfortunately have the risk of becoming more volatile and notably costly in the coming months un-
less the China Shanghai shipping operations improve significantly. Prices FAS monthly imports.
Description Market Trend Supplies Price vs. Last Year
Shrimp (16/20 frz) Steady Short Higher
Shrimp (61/70 frz) Steady Steady Higher
Shrimp Tiger (26/30 frz) Steady Short Higher
Snow Crab, frz Steady Available Higher
Tilapia Filet, frz Steady Short Higher
Cod Filet, frz Steady Short Higher
Tuna Yellowfin, frsh Steady Steady Higher
Salmon Atlantic Filet, frsh Steady Short Higher
Pollock Filet, Alaska, frz Steady Short Higher
12market trends
WEek ending May 13, 2022
Paper and Plastic Products
Description Market Trend Supplies Price vs. Last Year
WOOD PULP (PAPER)
NBSK- Paper napkin Steady Short Higher
42 lb. Linerboard-corrugated box Steady Short Higher
PLASTIC RESINS (PLASTIC, FOAM)
PS-CHH-utensils, cups, to-go cont. Increasing Short Higher
PP-HIGP-heavy grade utensils Steady Short Higher
PE-LLD-can liners, film, bags Steady Short Higher
Retail Price Change from Prior Month
Description Mar-22 Feb-22 Jan-21
Beef and Veal Increasing Increasing Decreasing
Dairy Increasing Increasing Increasing
Pork Increasing Increasing Increasing
Chicken Increasing Increasing Decreasing
Fresh Fish and Seafood Increasing Decreasing Increasing
Fresh Fruits and Vegetables Increasing Increasing Increasing
Various Markets
The softs markets were steady to lower last week with coffee leading the losses as overall inflation is likely hindering consumer
demand and causing downward price pressure. Orange juice prices experienced notable gains last week due mostly to citrus
greening in Florida and a drought-stricken harvest in Brazil. Florida’s Department of Citrus puts the state’s orange juice stocks
at 30% lower than last year and that comes after the USDA lowered its Florida orange production forecast by another 7.3%
from March to April due to the recent cold snap. The May citrus forecast report is due on Thursday of next week. Cocoa prices
remained steady to slightly up on the week as the market continues to grapple with concerns of drier weather for West Africa’s
mid-crop harvest, but those forecasts have yet to materialize. The sugar markets continue to be plagued by ideas that Brazilian
Real strength will keep Brazilian sugar out of the export market, despite improved crop forecasts in the country. The improved
production forecasts elsewhere kept sugar prices down last week and may help push global sugar prices back to $18.10.
Price bases noted below.
Description Market Trend Supplies Price vs. Last Year
Whole Peeled, Stand (6/10) Steady Short Higher
Tomato Paste-Industrial (lb) Steady Short Higher
Coffee lb ICE Increasing Steady-Available Higher
Sugar lb ICE Decreasing Steady Higher
Cocoa mt ICE Decreasing Steady Higher
Orange Juice lb ICE Decreasing Short Higher
Honey (clover) lb Steady Short Higher
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