Market trends For week ending May 20, 2022 - Performance Foodservice
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market trends For week ending May 20, 2022
market trends
WEek ending May 20, 2022
Produce
MARKET OVERVIEW
Better volume is available on small limes this week; however,
MARKET ALERT
the larger sizes will continue to be short; expect this to • Avocados – ESCALATED
continue through June. Tomato volume has tightened up as • Asparagus - ESCALATED
volume is below expectation, and we may see this continue • Bell Pepper– ESCALATED
• Brussel Sprouts
through Labor Day as the transition to Quincy and South
• Cabbage – ESCALATED
Carolina should begin by the end of the month. On the veg,
• Cabbage - ESCALATED
new crop production in South Georgia has ramped up. Good • Carrots (Jumbo) – ESCALATED
volume is available on cucumbers, cabbage, soft squash, and • Celery – ESCALATED
bell pepper production will improve this week. Corn is hitting • Cucumbers
good stride, and volume is available out of Belle Glade, Florida, • Garlic – EXTREME
as well as the desert. • Ginger – EXTREME
• Hot Peppers - ESCALATED
• Limes – ESCALATED
FRUITS & VEGETABLES • Mushrooms – ESCALATED
Apples & Pears • Oranges - ESCALATED
West coast new crop apples are being packed; however small
sizes remain tight. East coast apples are available as well. Market WATCH LIST
price remains firm on small fruit as local schools take most of the
volume. • Green Beans
• Snow Peas
• Sugar Snap Peas
Avocados
ESCALATED: Total volumes to the U.S. closed at 45 million
pounds for last week, roughly a 23% reduction from the previous
week. Volume projections call for over 55 million pounds of
harvest for this week, but field trucks are tracking light, and we’re
looking at a second week with volumes under 50 million pounds.
The larger size curve continues and is expected to continue as TRANSPORTATION
both Mexico and Peru favor big fruit. The pricing gap between 48
Consistent with last week, we are seeing
and 60cts is closing, and smaller fruit will be tight until the Flora
capacity continue to decline in the south
Loca crop begins in Mexico (July). California has been harvesting
and Central/Southern California. Outbound
around 12-13 million pounds per week, and the size curve favors
Georgia/Florida have become more difficult
60cts, followed by 70cs.
to source trucks leading us to believe that
the Mother’s Day push has accelerated the
Bananas
start of produce season or tightened capacity.
Steady volume and good quality available. However, we are
While rates have somewhat stabilized from the
seeing firm pricing this quarter due to record high fuel prices.
March/April “plunge”, loads are still moving
fairly easy out of the Midwest and Northeast,
Grapes
particularly those moving south. After a rough
The weather in Chile is ideal for grapes and has been for a few
two months of taking below market rates to
weeks, increasing the supply imported into the U.S. Red Grape
keep their equipment on the road, as well
pricing continues to be fairly low with plenty of supply. Green
as fuel rising to all-time highs, we expect the
grapes remain higher as fewer supplies have been shipped.
market to continue to tighten up over the next
few weeks.
Pineapples
Pineapple availability continues to be okay. The size profile is
trending to size 5 and 6cts and availability on 7cts remains limited.
2
market trends
WEek ending May 20, 2022
Produce (continued)
SALINAS, CA FORECAST
BERRIES Lemons
Are in full swing. Quality has been good.
Blackberries
Growers are in a transition period between Mexico and the U.S.
Limes
regions. Mexico production is expected to end by mid-June.
ESCALATED: Volume seems to be improving on smaller sizes,
Oxnard and North Carolina volumes will continue to increase
and we are seeing downward pressure due to the increased
over the next few weeks.
volume. However, the new crop limes are not sizing up, and
growers continue to cut ahead into the smaller fruit to keep the
Blueberries
supply chain full. We hope to see this trend continue as newer
Central Mexico volumes are decreasing, and Florida is on the
groves are being harvested and the overall volume improves.
back end of their season peak, where we will see Volume for 1
Unfortunately, we are expecting larger sizes will continue to be
more week. Baja production is in their spring peak in the next
short until Mid-June.
three weeks. Georgia is in their peak, and San Joaquin Valley
will have light Volume this week and is expected to ramp up
Oranges
quickly the following week.
ESCALATED: Small oranges remain fairly tight, with market
pricing in the low $20’s for choice grade. Few navels remain,
Raspberries
but many growers are on to Valencias. Size structure peaking
Growers are in peak volumes this week out of Central Mexico.
56/72, with about 75% being fancy grade.
Volume will decrease next week and decline rapidly until the
season ends around the beginning of July. Domestic regions
will begin their uptrend in volumes over the coming weeks.
Santa Maria will start with minimal volumes next week, and
British Colombia will start towards the end of June.
Strawberries
Volume is expected to increase out of the northern districts and
Santa Maria. Growers continue to see lingering impacts from
previous weather events. Oxnard volumes continue to decrease
as they see more labor migration into the northern districts.
CALIFORNIA CITRUS
Grapefruit
Ruby grapefruit is now available. Size is peaking on 32s, 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.
3
market trends
WEek ending May 20, 2022
Produce (continued)
WEST COAST LETTUCE Jalapenos/Chili Peppers
ESCALATED: We will continue to see marginal quality and light
Butter Lettuce
supply out of Florida. In McAllen and Nogales, prices remain
Quality is very good, and the market is steady.
firm this week due to the transition. We hope to see better
Volume over the next several weeks as newer regions ramp up
Green Leaf
production.
Quality is very good; the market is slightly stronger with slightly
lighter supplies from the recent cooler weather.
Mini Sweet Peppers
Good supply and quality available.
Iceberg
Supply is projected to be lighter than normal due to the
Pickles
cooler weather. Lighter weights and lower pounds per acre
Supply was lighter this week crossing through Nogales, and
are predicted. Quality has been very good with the current
the quality is very nice. We are seeing better numbers out of
weather situation. Demand has been higher than normal, and
South Florida this week as well.
the market is currently active and will continue to improve.
Cucumbers
Red Leaf
Cucumber production is transitioning from Florida to Georgia
Quality is very good with slightly lighter supplies; Market is
this week, and there’s not a ton of fruit around. Quality is hit or
steady.
miss on much of the remaining Florida product, as the wind
and weather have caused excessive scarring, some sunken
Romaine and Romaine Hearts
areas, etc. Fortunately, Georgia did start with a few cucumbers
Market continues to be steady with steady supplies. Quality is
this week. With more growers and volume to come over the
very good.
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.
EASTERN & WESTERN VEGETABLES
Bell Peppers Zucchini/Yellow Squash
ESCALATED: Green bell pepper market is down but Markets on zucchini and yellow squash are steady. Imports
primarily on off grade product. Good quality #1 pepper is out of Mexico are picking up. East coast shippers out of both
still demanding the premium price. The demand has been Florida and Georgia are producing strong numbers. Demand
average. Georgia production is right around the corner, while and quality remain strong.
Florida is winding down. We are at the tail end of production
out of Mexico as the heat in the growing region is starting to
cause quality issues.
Eggplant
Good supply available out of Florida and Mexico. Georgia and
Coachella are about 3 weeks from starting.
French Beans
Excellent supply and quality out of Guatemala.
Green Beans
WATCHLIST: Bean supply in the east is tight as the last of
the Florida crops finishes. We should see better volume once
we transition to South Georgia later this week. In the west,
Mexico is about done with the transition to Coachella in full
swing, followed by Fresno. FOB prices are expected to remain
elevated for the next few weeks.
4
market trends
WEek ending May 20, 2022
Produce (continued)
HERBS Broccoli/Broccoli Florets
Market continues steady with very good quality.
Fresh herbs remain stable. Thai Basil is a little short till next
week as growers transition to locally grown. Italian Parsley was
Brussels Sprouts
impacted by recent weather/heat issues, but this should only
Sprout volume will remain below budget this week for the
last about ten days.
coming week. Expect reduced fill rates on both Virginia and
bulk categories. Production in Mexico is wrapping up, and
yields are dropping, which is driving the market higher. Quality
MELONS
is generally good. Some insect injury and elongated seed core
Cantaloupe are noted.
The market for cantaloupe continues to adjust downward with
pressure coming from Mexican production. On the east coast,
most offshore shippers will be concluding their season over the
next 7-10 days. Sizing on cantaloupe is moving away from the
jumbo fruit with a good spread of 9, 12, and 15 counts. Current
arrivals have a very nice shell color and good brix levels. Overall,
this is some of the prettiest fruit we have seen all season.
Honeydew
The market for cantaloupe continues to adjust downward
with pressure coming from Mexican production. On the east
coast, most offshore shippers will be concluding their season
over the next 7-10 days. Honeydew arrivals on the east coast
have been relatively light, with the majority of the fruit being 5
jumbos and larger. Cheaper fruit crossing through Nogales
has impacted the east coast market even with the higher
freight.
Watermelon
Good volume available out of Florida, and quality is very nice.
Good volume is also crossing through McAllen and Nogales
on minis and seedless.
MIXED VEGETABLES
Artichokes
Quality has improved significantly, with good supply.
Arugula
Quality has improved with much better available supplies,
market is steady.
Asparagus
ESCALATED: Hot weather continues in Oregon, causing low
yields due to seeding. Southern Baja continues with better
production this week, which should continue for the next two
weeks. Guanajuato should start up in the next two weeks.
Peruvian production continues to increase in the north, and
southern Peru is still experiencing cooler weather. Markets are
less active at the end of this week with the Mother’s Day rush
finished.
5
market trends
WEek ending May 20, 2022
Produce (continued)
Carrots Celery
ESCALATED: Current demand exceeds predicted supply while ESCALATED: Celery market is very active as we continue to see
lower than average yields caused by cold, wet weather has quality issues in the fields in Oxnard. We are seeing seeders in
limited availability. Shippers continue to struggle with labor due all fields, which is reducing available supply. Look for the market
to COVID and not having enough workers show up daily to to remain strong while growers navigate through the quality
pack carrots. problems.
Cauliflower Corn
Quality is very good but with increased demand. Market Good volume available out of Florida and California. South
continues strong and will remain active through next week. Georgia will ramp up in approximately 3 weeks. Quality is
outstanding.
Fennel
Considerably better supply with very good quality, prices are lower.
Garlic
EXTREME: Domestic supply is very tight, and shippers are
holding to averages, but we expect this volatile market to
continue through next summer. Garlic Company is now
shipping product from Mexico until the new crop of garlic gets
started in mid-July.
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
ESCALATED: Quality is good, and supplies are lighter. Market
is very active.
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.
Mushrooms
ESCALATED: Quality is good, although supply is down and
markets are higher primarily due to a lack of labor, shortages
in the growing components such as peat moss, and other
inflationary pressure. We expect to see this continue to be
a challenge until some of the growing costs can get under
control of this particularly labor intensive and cost sensitive
item.
Napa Cabbage
Quality and supplies are improving.
6
market trends
WEek ending May 20, 2022
Produce (continued)
Parsely (Curly, Italian) POTATOES
Supply will be lighter going through next week, quality is very
We saw FOBs tick up once again this week on cartons, mainly
good.
60/70/80cts, which have been in high demand. Availability
continues to be rather limited on those sizes when it comes to
Rapini
volume orders. Mixer availability continues to be steady, and
Excellent supply this week and next.
trucks are getting out with little to no issues.
Red Cabbage
ESCALATED: Quality is good, and supplies are lighter. The
TOMATOES
market is very active.
Roma tomato market out of Mexico is active. This should be
Snow Peas & Sugar Snap Peas short lived as we are expecting to see stronger crossings in the
WATCHLIST: We have started to see some quality issues due next couple of weeks. The round crossings have been heavier
to rain in the snow peas at the field level. Sugar snap supply towards the 5x5s, 5x6s, or smaller spec size. Bigger rounds
continues to improve. Mexico production is winding down have been limited. Round tomato supplies continue to improve
quickly; the product available will be suspect to fair quality at out of Florida. Florida Romas are lagging a bit; however, we
best. US production has started in a small way, and the quality should start seeing stronger volumes in the next couple of
is good. We should see volumes continue to increase weekly. weeks.
Spinach (Bunched & Baby)
Supply and quality are good.
Spring Mix
Supply and quality are good.
Sweet Potatoes & Yams
Demand continues to be stable across all sizes and varieties.
There are deals to be had on both #1’s and Jumbos out of
North Carolina. FOBs out of Mississippi are a bit higher but
quality out of that region has been outstanding. We should see
prices gradually start to rise throughout the summer months
and into the new crop.
ONIONS
Texas will be completely finished with their crop at the
beginning of next week. Most of the onion volume will be
moving to California before New Mexico starts in the next few
weeks. The market fluctuated a bit out of California, where
it started relatively weak and built steam as demand grew.
We expect to see the California volume ramp up next week.
Round onions out of Georgia have been working for the east
coast and southeast market, where savings can be had on
freight.
7
market trends
WEek ending May 20, 2022
Beef, Veal & Lamb
The weekly average USDA Choice boxed-beef cutout was down 1.9% (w/w) and14.9% lower (y/y). Last week, beef production rose
1.2% (w/w) and increased 3.6% (y/y). Year-to-date beef output is running 0.8% stronger than a year ago, which compares to the USDA’s
H1 (’22) beef production (y/y) gain of 0.5%. U.S. beef imports in March increased 26.0% (m/m) and 28.0% (y/y). Imports from Brazil
were up a whopping 430.0% (q/q). Total U.S. beef exports in March increased 2.0% (y/y), but with lackluster volumes to Japan, down
10% (y/y), but at a good pace to China, up 30.0% (y/y), and S. Korea up 20.0% (y/y). Beef demand appears to be modest this spring,
but less retail feature activity is occurring because the wholesale beef markets are still historically costly, especially for the various beef trim
items. Last week, the 50% beef trim market was under pressure with the weekly average falling 10.5% (w/w). The domestic 90% beef
trim market average last week fell 0.9% (w/w). In May 2021, the 50% beef trim market averaged 12.1% lower from the prior April (aver-
age). However, last May, the 90% beef trim market averaged 6.0% from the prior month’s average. The Average, USDA, FOB per pound.
Description Market Trend Supplies Price vs. Last Year
Live Cattle (Steer) Decreasing Short Higher
Feeder Cattle Index (CME) Decreasing Steady Higher
Ground Beef 81/19 Decreasing Steady Higher
Ground Chuck Increasing Steady Higher
109 Export Rib (ch) Decreasing Short Lower
109 Export Rib (pr) Increasing Steady-Available Lower
112a Ribeye (ch) Decreasing Short Lower
112a Ribeye (pr) Decreasing Steady-Available Lower
114a Chuck, Shlder Cld(ch) Increasing Steady Lower
116 Chuck (sel) Increasing Available Lower
116 Chuck (ch) Increasing Available Lower
116b Chuck Tender (ch) Decreasing Steady Lower
120 Brisket (ch) Decreasing Available Lower
120a Brisket (ch) Increasing Steady-Available Lower
121c Outside Skirt (ch/sel) Decreasing Short Lower
121d Inside Skirt (ch/sel) Increasing Short Lower
121e Cap & Wedge Increasing Steady Lower
167a Knckle, Trimmed (ch) Decreasing Steady Lower
168 Inside Round (ch) Increasing Steady Lower
169 Top Round (ch) Decreasing Steady Lower
171b Outside Round (ch) Increasing Steady-Available Lower
174 Short Loin (ch 0x1) Increasing Short Lower
174 Short Loin (pr 2x3) Increasing Steady Higher
180 0x1 Strip (ch) Decreasing Short Lower
180 0x1 Strip (pr) Decreasing Short Lower
184 Top Butt, boneless (ch) Decreasing Steady Lower
184 Top Butt, boneless (pr) Increasing Steady Lower
184-3 Top Butt, bnls (ch) Decreasing 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) Decreasing Short Lower
189a Tender (pr, heavy) Increasing Available Higher
193 Flank Steak (ch) Decreasing Short Lower
50% Trimmings Decreasing Steady-Short Higher
65% Trimmings Decreasing Steady Higher
75% Trimmings Decreasing Steady Lower
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) Decreasing Short Higher
Feeder Cattle Index (CME) Decreasing Steady Higher 8
market trends
WEek ending May 20, 2022
Grains
Last week was another volatile one for the grain markets with the most actively traded corn and soybean contracts down at-
least 2.6% (w/w) while the wheat complex was up at least 4.6% (w/w). The USDA kept its winter wheat located in drought% at
69 last Thursday despite Kansas and Oklahoma getting some rain last week. Back to the domestic side of things: A new crop
progress report is due today, and conditions were better in Iowa and Illinois last week, so hopefully, farmers made some more
planting progress towards getting back to normal levels. Weather forecasts in the corn belt look increasingly favorable for plant-
ings, with warmer temperatures set to hit the main U.S. corn-growing areas with below-normal rainfall expected, which should
help dry the recent wet soil conditions. So the next few weeks’ improving crop progress reports could provide some bearish
news for both the corn and soybean markets. The USDA will also be releasing its May WASDE report this Thursday, which will
include the agency’s first outlooks on new crop supply and demand. Prices USDA, FOB.
Description Market Trend Supplies Price vs. Last Year
Soybeans, bushel Decreasing Steady-Short Higher
Crude Soybean Oil, lb Decreasing Short Higher
Soybean Meal, ton Decreasing Steady Higher
Corn, bushel Decreasing Short Higher
Crude Corn Oil, lb Decreasing Short Higher
High Fructose Corn Syrup Decreasing Short Higher
Distillers Grain, Dry Decreasing Short Higher
Crude Palm Oil, lb BMD Decreasing Steady-Short Higher
HRW Wheat, bushel Increasing Short Higher
DNS Wheat 14%, bushel Increasing Steady-Short Higher
Durum Wheat, bushel Increasing Steady-Available Higher
Pinto Beans, lb Increasing Short Higher
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) Decreasing Short Higher
American Cheese Decreasing Short Higher
Cheddar Cheese (40 lb) Steady Short Higher
Mozzarella Cheese Steady Short Higher
Monterey Jack Cheese Steady Short Higher
Parmesan Cheese Steady Short Higher
Butter (CME) Increasing Steady-Short Higher
Nonfat Dry Milk Decreasing Steady-Short Higher
Whey, Dry Decreasing Available Lower
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 20, 2022
Pork
Last week, the weekly average USDA pork cutout increased 0.2% (w/w) but was 6.3% lower (y/y). Pork production was 1.5%
higher (w/w) and up 2.8% (y/y). Still, year-to-date pork output is running 5.1% lower (y/y), which is worse than the USDA’s
H1 (’22) pork production forecast of down 3.9% (y/y). U.S. pork exports for March continued to struggle, down 30.0% (y/y),
with declines for Japan, S. Korea, and China, but Mexico seemed to be a bright spot with 32.0% gains (y/y). This spring the
seasonal price gains for the USDA pork cutout have been modest, up 5.6% so far in Q2 versus Q1 when this Q2 over Q1
increase for the USDA pork cutout is 11.4% on average. Still, the wholesale pork markets are the third most expensive for
this time of year on record. July through December U.S. pork output is forecasted to be down 0.4% (y/y) due mostly to less
available hog supplies, which could be supportive of the various pork markets. Since 2012, the average move for the USDA
pork cutout during Q3 compared to the prior Q2 has been 0.8% higher. But wholesale pork prices usually fall 6.7% in Q4
(q/q). Prices USDA, FOB per pound.
Description Market Trend Supplies Price vs. Last Year
Live Hogs Increasing Steady Lower
Sow Decreasing Short Higher
Belly (bacon) Decreasing Steady Lower
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) Increasing Steady Lower
Babyback Rib (1.75 lb & up) Decreasing Available Lower
Tenderloin (1.25 lb) Decreasing Available Lower
Boston Butt, untrmd (4-8 lb) Decreasing Steady Lower
Picnic, untrmd Decreasing Short Lower
SS Picnic, smoker trm box Increasing Steady-Short Higher
42% Trimmings Increasing Steady Lower
72% Trimmings Decreasing Short Lower
10market trends
WEek ending May 20, 2022
Poultry
Last week, the USDA national whole broiler/fryer index increased 0.1% (w/w) and was 62.2% higher than a year ago. For the
week ending April 30, chicken slaughter for the week was up 3.0% (w/w), was up 1.2% (y/y), but the average bird weight was
lighter by 2.8% (y/y). Ready-to-cook chicken production increased 1.4% (w/w) but declined 1.6% from a year ago. Year-to-date
ready-to-cook broiler production is higher by 1.0% (y/y), which is on par with the USDA’s H1 (’22) chicken output forecast gain
of 1.0% (y/y). Last week it was the same story in chicken with continued record-high boneless skinless chicken breast prices.
Last week, the ArrowStream Chicken Breast Index averaged 5.8% higher (w/w). Chicken wing prices, on the other hand, have
remained soft. Last week, the ArrowStream Chicken Wing Index was the lowest since August 2020. Last week, the ArrowStream
Chicken Tenderloin Index was up 2.4% (w/w) and at a record high, which is not a surprise considering the record-high chicken
breast markets. Seasonally, boneless skinless chicken breast prices usually peak in May, and wing prices usually bottom in April.
Chicken tender prices typically remain supported before topping in July. 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 Lower
Leg Quarter Index (ARA) Increasing Short Higher
Thighs, Bone In Increasing Short Higher
Thighs, Boneless Increasing Short Higher
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) Increasing Short Higher
Medium Eggs (dozen) Increasing 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 20, 2022
Seafood
New seafood import prices were released last week, with the sized 26-30 and 61-70 shrimp markets leading the losses. The
15-20 sized shrimp price action was a little concerning, up almost 10% month-over-month, as this is usually the time of year
15-20’s start to decline in price into the late summer. Given the correlation between 15-20 and the other shrimp types and the
fact it’s already inflated almost 50% over its previous five-year seasonal high, it suggests that 15-20 shrimp prices will decline
in next month’s import prices. Snow crab prices were down 8% (m/m) and are down almost 20% from their February highs,
but still, lead the pack in terms of inflation over its usual price. We still haven’t seen any huge higher price reaction from the
eventual ban on Russian seafood imports, signaling there might be some seafood demand destruction if, as expected, overall
consumer-level inflation continues to accelerate and consumer spending power declines. Prices FAS monthly imports.
Description Market Trend Supplies Price vs. Last Year
Shrimp (16/20 frz) Steady Short Higher
Shrimp (16/20 frz) Increasing Available Higher
Shrimp (61/70 frz) Decreasing Available Higher
Shrimp Tiger (26/30 frz) Decreasing Available Higher
Snow Crab, frz Decreasing Available Higher
Tilapia Filet, frz Increasing Available Higher
Cod Filet, frz Increasing Available Higher
Tuna Yellowfin, frsh Decreasing Available Higher
Salmon Atlantic Filet, frsh Increasing Available Higher
12market trends
WEek ending May 20, 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. Steady Short Higher
PP-HIGP-heavy grade utensils Decreasing Steady 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 had another quiet week on the fundamentals front, which means they continued to be influenced by the
U.S. dollar strength, inflation, and consumer spending concerns, leaving the major softs items lower on the week. Cocoa pric-
es were somewhat resilient last week in the face of downward pressure from ample Ivory Coast exports, a strong greenback,
and lackluster North American and Asian Q1 grindings data. Expect nearby cocoa futures to test downside price support at
$2,442 (S1). Orange juice prices rebounded slightly on Friday but were still down 3.4% (w/w) with favorable weather outlooks
in Brazil for their next orange(s) crop. The USDA’s May citrus report will be released on Thursday, so hopefully, it won’t show
any more deterioration in Florida’s current orange(s) crop due to greening disease. 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 Decreasing Steady-Available Higher
Sugar lb ICE Increasing 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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