Market trends For week ending April 23, 2021 - Performance Foodservice
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market trends For week ending April 23, 2021
market trends
WEek ending April 23, 2021
Produce
Market Overview
We are seeing a good supply for most items. The transition from MARKET ALERT
Yuma to Salinas is almost complete. The only shipper left to make • Avocados – ESCALATED
the move is Green Gate and they will be transitioning next week • Bananas – ACT OF GOD/FORCE MAJEURE
• Strawberries - ESCALATED
to start shipping in Salinas the week of April 25th. Florida’s corn
• Carrots (Jumbo) – ESCALATED
market is becoming active as we harvest in blocks that were • Cucumbers - ESCALATED
affected by cold weather earlier in the year. We should see firmer • Garlic – EXTREME
markets in the southeast until we move to Florida and South • Ginger – EXTREME
Georgia over the next 3 weeks. Banana markets remain firm • Limes – ACT OF GOD/FORCE MAJEURE
due to the Force Majeure being declared by major global banana
suppliers. Growers have suffered major damage to crops and WATCH LIST
• Berries (Blackberries and Raspberries)
infrastructure, causing a large ripple in the supply chain.
• Corn
Limes are very short, particularly in the larger sizes, we will remain • Cherry Tomatoes (Mexico)
• Watermelon
in a Force Majeure with our supplier. Avocados are becoming
extremely tight due to higher demand, and lower volume estimates
are coming out of Mexico due to yield loss. California estimates
were revised down and expect a very active market until Peruvian Apples & Pears
fruit arrives in late May. We will start to see some transition in bell EXTREME: The Washington Apple community is
pepper supply from Mexico to Coachella over the next few weeks. reporting that the 2020-2021 crop is down this year
by nearly 30 million cases for several reasons. At this
Salinas weather has been cold which has slowed the growth of time, we are also seeing deficits in other regions on a
early crops. We are still 5 to 14 days behind schedule in most national level. This is due to weather related pressure,
fields. The weather will stay cool for most of the next week with one late summer and early fall in the Pacific Northwest,
day hitting the 70’s. and unprecedented demand at retail. Please keep in
mind, the USDA Food Box program, as well as other
So far, I have not been seeing a whole lot of the impatience virus. I government backed programs, have reduced the
will be sure to let you know if that changes. overall availability of the fruit. This shortage is impacting
We will have all field pack and processors back in Salinas after this the Granny Smith and Gala varieties, which are major
weekend with Huron coming to an end soon and the remaining food service items. Between the production shortages,
processors making the move from Yuma. which are weather related, unprecedented demand,
and COVID-19 restrictions and closures, there will be a
Iceberg is very up and down with size, weight and quality. I am continued upward pressure on price. Please note that
seeing sizing all over the board making it a real challenge for we are expecting pricing to remain higher until new
suppliers to get consistent weights and packs. Expect iceberg to crops begin sometime in August 2021.
be packer brand more often than not for the next week. Asian Pears
Asian pear supply is available. Chilean & Argentine
Romaine is starting to look better with more fields meeting spec. Bartlett Pears in LA.
Green Leaf is a bit up and down size wise as well. Some fields are Artichokes
varying from 18 to 22 lbs. Quality is excellent although the chokes are showing a
I am pictures of romaine being packed in Peak today and tomorrow little purple color near the base but are free of any frost
as well as some of Mann’s processed items. damage. We expect good volume to continue on larges
sizes through the end of April. Prices are steady.
Arugula
Supply and quality are good this week.
Asparagus
Peru: Low volume and good quality. Mexican volume is
affecting Peruvian demand. Mexico: Good quality and
high volume.
2
market trends
WEek ending April 23, 2021
Produce (continued)
Avocados Strawberries
ESCALATED: Volume will continue to tighten up, pushing ESCALATED: Volume continues to fall short of expectations,
FOB prices higher as we see lighter numbers crossing from pushing FOB prices higher as Northern California is slow to
Mexico due to revised volume and higher demand. We get started from the rain and hail events a few weeks ago.
continue to observe the spring crop as we see losses due to In addition, most shippers have finished for the season in
freezing temps in the region earlier in the year. Revisions to Mexico and Florida. Current growing conditions are ideal,
the California avocado estimates have been down. We expect and fruit looks good, but not be ready to harvest. We will
active markets until we see relief from Peru in late May. see tight supply continue through the week of 4/19 although
we should start to see some slow increase in volume over
Bananas the next couple of weeks although the lower-than-expected
ACT OF GOD: Weather is getting better in the topics, which volume projections are keeping us in a demand exceeds
should increase quality. Supply is still lower due to the supply situation with an extremely high mkt for this time of
hurricanes in 2020. year. Mother’s Day is May 9th … as supply starts to increase,
the demand will also increase as we get into the Mother’s Day
Beans pull the last week of April/First week of May.
EAST: There are multiple areas in production in Florida
(Immokalee, the Lake, and Plant City), providing plenty of
volume. Quality has been great, but we could start to see the
effects of last weekend’s rain from some shippers later this
week. FOBs are steady.
WEST: As we get further into the month, we are seeing
several Mexican shippers finish up for the season while a few
others hang on and try to make it through the month. Our
ranch in Guasave looks to continue with moderate numbers
into mid-May. May should also bring us a few beans from the
Coachella valley which will be followed by Fresno a few weeks
later. Quality issues are beginning to show up from some
shippers, but our crops continue to provide nice product.
FOBs are mostly steady with last week.
Berries:
Blackberries
WATCHLIST: Available supply varies from shipper to shipper
although volume continues lighter than expected. Expect
supply to start increasing through late-April, and peak at the
end of April and early May.
Blueberries
The Mexican season will continue with stable volume into the
spring. Baja volumes will continue with stable and increasing
production and the Florida season is starting with low
volumes and will increase in mid-April. Georgia is on track to
start production within the next 2 weeks. Some shippers are
still in light volume and holding to averages but new growing
areas over the next few weeks will continue to increase
supply.
Raspberries
WATCHLIST: Raspberry supply from most shippers are
still light with many shippers still pro-rating. Projections are
showing a steady increase in volume through the end of the
month with good volume in early May. Quality is good.
3
market trends
WEek ending April 23, 2021
Produce (continued)
Bok Choy Cucumbers
Supplies are expected to be plentiful for the next three weeks. EAST: Cucumbers are extremely short in Florida this week.
Older crops were taken out by the colder weather spell
Broccoli over Easter weekend and simply quit producing fruit. New
Supplies are heavy and the quality is excellent! crops were held back by the same cooler weather, then
were graced with rain/thunderstorms last weekend. Not
Brussels Sprouts only is supply short, but only a very small percentage of
Expectations are for a solid week of production on the sprout what’s available would qualify as #1 fruit due to wind and rain
category; availability should be normal and on budget for effects. The situation is likely to remain the same for at least
both the VA & bulk pack categories. Quality remains good; another week. Plant City is on the verge of starting some light
occasional insect injury or discoloration are noted. Look for acreage, hopefully within the next 7-10 days. FOBs are up
increased volume for the week of 4/26. this week and are at very elevated levels.
WEST: Cucumber demand exceeds supply this week! Sinaloa
Cantaloupe normally still has volume this time of year, but a number of
Market has eased a bit as better volumes are arriving, the growers have already pulled the plug due to plant health and
overall quality has been good with some fruit showing some quality issues. Prior depressed markets hindered growers
soft here and there, but internal condition has been very good from spraying and caring for crops, which is definitely a
with descent sugar and excellent internal color. We expect contributing factor. Sonora crops have been slow to come on,
the market to stay steady and then start to increase as we as growth was stunted by prior cool weather in March. They
get into mid-April as imports slow and we gear up to start our have some product, but the volume is very light, and much is
California and Arizona desert regions around the first of May. going to fulfill commitments. Although a grower or two in Baja
have started in a light way, we don’t expect this area to be a
Carrots factor for a few more weeks. Quality is varied, depending on
We are seeing limited sizing in the fields in California so the age of the field. Some of the nicest quality fruit available
Jumbo supply is light. Carrot Sticks come from Jumbo’s, is in smaller sizing. FOB are on fire this week at very elevated
so supply is light on sticks also. All other items have good levels.
capacity.
Cauliflower
Supplies are expected to be plentiful for the foreseeable
future.
Celery
Business is steady this week with good supplies for us and
in the industry. Quality is good and the market is steady.
Cilantro
Light bacterial spotting can be seen in most bunches and
sizing is on the smaller side. Next week’s volume is expected
to be significantly lower than budgeted numbers.
Corn
WATCHLIST: We are seeing a split market on corn, In the
east prices are down and quality is good as we see more
products available. In the west, volume is winding down out
of Mexico as the season winds down and the transition to
the Coachella begins. We expect to see prices firm back up
as demand will soon begin for Cinco De Mayo and Memorial
Day retail ads that are on the horizon.
4
market trends
WEek ending April 23, 2021
Produce (continued)
Eggplant Garlic
EAST: Florida’s eggplant supply has picked up the pace… EXTREME: California garlic supplies will be very short for the
finally…as several more growers are up and running for the balance of the season until new crop gets started in Late June
season. South Florida has a mix of older and new crops while / Early July. For the next week to 10 days, we will be shipping
Plant City has just gotten started for the season. Quality has product of Argentina, then back to California garlic for a short
improved as most of the fruit is from newer fields. Pricing is period. Then we will be shipping garlic from Mexico for the
down slightly. remainder of the season until the new crop gets started.
WEST: Good supplies are expected from the Culiacan area of Market remains extreme.
Mexico for the next few weeks. Many growers will go through
the month of May if FOB markets stay strong. The California Ginger
desert looks to get underway within the next few weeks while EXTREME: Ginger is very volatile due to very inconsistent
the Fresno area is projected to get going sometime in early supply and the market is higher. Supply remains tight for the
June. FOBs are steady with last week. foreseeable future.
English Cucumbers Grapes
Markets ticked up a tad this week as demand increases due Market is steady and we are starting to see some of the
to lower supplies on pole cucumbers. Quality remains strong. rained-on fruit arrive and there some lots that have a bad
berry here and there and others that are worse and will need
Fennel to be repacked on both colors. The East coast is getting a
Lower volume this week. Sizing is on the smaller side due to bunch of fruit, and there is minimal space for repacking, there
cooler weather. are some deals to be had if you take some fruit with issues.
We will be battling this until we finish imports and start the
Mexico and Coachella Valley harvest around the first week
of May. We will do our best to provide you with the best fruit
we have available, the greens will be the toughest and will
start to command big money for clean fruit that has not been
repacked. There is also a split market due to condition of the
fruit on both colors.
Green Cabbage
This is our last week in Holtville for Green Cabbage. Anticipate
a gap in supply over the next week as Salinas Valley harvest
starts late April. Cooler than normal temperatures continue to
slow plant growth.
Red Cabbage
Red Cabbage supplies are limited; product has yet to size up
in the Northern growing region. Anticipate limited availability
over the next week.
Green Onions
Supplies are still a bit limited, but quality is good.
Honeydew
The market has strengthened and will keep strong for 2-3
weeks as Mexico is in a slight gap between growing regions
and the Guatemalan and Honduras volumes are lighter than
normal as well. The overall quality is good, and fruit has been
eating excellent with good internal color and clean cream to
green external color.
5
market trends
WEek ending April 23, 2021
Produce (continued)
Jicama Napa
Steady supply available crossing through McAllen. Supplies are expected to be plentiful for the next three weeks.
Kale Onions
Bunched Kale supplies are expected to be plentiful for the next FOB pricing on all colors and sizes has leveled off on yellows
few weeks. and whites in all shipping regions for the time being. While it
appeared, the market was moving up on all colors and sizes
Lemons in the Northwest, a combination of poor truck supply, as well
Lemon market is keeping pretty strong as demand continues as a lull in onion demand has put a halt on any movement or
to increase as more restaurants are opening throughout the increases. Red onions are in short supply as the Northwest
States and helping to move more fruit. We are picking in Dist. 1 continues to wind down, and no new heavy volume of reds
(central Valley) and a little in Dist. 2 (Coastal region), the overall expected to enter the market until California comes into play
quality has been good with good juice content and a firm piece at the end of the month. With Mexican onions all but finished,
of fruit that is pretty strong. We anticipate the market to start to we are seeing Texas onions continuing to ramp up their supply
strengthen around the end of April as we get closer to finishing down in McAllen. Early reports show plenty of Medium and
in Dist. 1 and will be dependent upon dist. 2 fruit until we see Jumbo Yellows, fewer colossal and super colossal, and only
imports around end of May first of June. mixer volume on red onions. The Imperial Valley, California is
expected to begin shipping next week on yellows, and then
Lettuce: we will likely see reds and whites the following week (week of
Butter 04/26). They are expected to have a strong crop both in terms
Steady volume and good quality. The market is steady. of quality and yields.
Green Leaf
Good volume and good quality. The market is steady.
Red Leaf
Good volume with good quality. The market is steady.
Iceberg Lettuce
Steady volume and good quality. The market is steady.
Romaine/Romaine Hearts
Good volume and quality continue. The market is steady.
Limes
ACT OF GOD/FORCE MAJEURE: Limes continue to struggle,
this past week we were down 250+ loads from the normal
750-800 loads per week. Unfortunately, we are starting to see
a shift in sizing, leaning heavily to smaller sized fruit (200 to
230s), and expect to see this through most of April. We are
anticipating a premium on larger sized fruit (175s and larger)
to continue while we expect markets on smaller sized fruit to
fluctuate throughout the month of April, then turn around once
again in May.
The reports from Mexico are claiming this size issue is a result
of two primary factors, the first being growers cutting ahead
of schedule to keep markets stable through March and now
will be harvesting from trees that will have less tonnage from
picking ahead, and also trees suffering from damage due to the
cold weather earlier in the year.
6
market trends
WEek ending April 23, 2021
Produce (continued)
Oranges Parsley (Bunched)
Market strengthening on small sizes as that supply is dropping, Supplies remain steady with good quality.
with good export demand and domestically continuing to see
better demand as well across the board. There are not big Green Pepper
inventories sitting around, market will start to strengthen as we EAST: South Florida is still providing reasonable volumes of bell
go forward and get into the late varieties. The overall quality of peppers. The Immokalee area is harvesting the last of its crown
the fruit is excellent and eating like candy, with excellent juice picks now along with some 2nds and 3rds. We expect to have
content. We expect to continue with navels through May and product from this area for another 2 weeks as long as weather
will probably start a few Valencia’s mid to late April. and quality cooperate. All sizes are available, but XL’s are the
shortest of the options. Quality is good on fruit from newer
fields, but we are starting to see some size, shape and quality
issues from the older, “more mature” plantings. Plant City has
started in a very light way this week but won’t see anything
significant until mid-late next week. FOBs are mostly steady or
down slightly this week.
WEST: Shifting to the West, the Sinaloa area is heading toward
the end of the season as temps hit upper 90s and the plants
are much older. A few growers will still harvest for a couple
more weeks, but quality may become an issue. Sonora will
have light to moderate pepper volume for another 3-4 weeks
which will help bridge the gap going into the California desert.
One grower in Thermal has already started and the rest of the
desert should start up in the next 2-3 weeks. FOBs are steady.
Jalapeños (Chiles)
EAST: South Florida’s chili crops are limited to a few jalapenos,
poblanos, and some regional specialty items. Plant City has
picked its first jalapenos but won’t get started in earnest for
another 7-10 days. We expect to see better volumes and the
complete SKU offering once Plant City harvests take hold.
FOBs are mostly steady.
WEST: Sinaloa, which is Mexico’s major chili region, has
finished up for the season. There are a few chili growers closer
to the coast that will go for longer but it will be limited. The
majority of the chilies are now in Sonora. Because prices were
so low during most of the season, many growers opted not to
plant Spring crops, so volume will be limited until Baja starts in
another month. Jalapenos and serranos are the shortest items.
Many growers let their jalapenos turn to red for processing
due to price and now green jalapenos are limited. Serranos
are a very labor-intensive chili to harvest, and many growers
are behind on their harvests. FOBs remain elevated on both
jalapenos and serranos and are up slightly on tomatillos but are
relatively steady on other items.
7
market trends
WEek ending April 23, 2021
Produce (continued)
Red & Yellow Bell Peppers Sugar Snap Peas
EAST/WEST: Overall, the supply of colored bells is adequate, Tight volume. Good quality.
but it has lightened up a bit this week. Mexico’s numbers have
declined, in part due to growers harvesting fruit at the green Spinach (Bunched)
stage to capitalize on elevated green bell market prices. This Supply and quality are good.
will lead to less reds over the next few weeks and we may see
the same for other colors. Quality is a mixed bag of tricks as Spinach (Baby)
fruit from older crops is inferior to newer harvests and is priced Supply and quality are good.
accordingly. After the initial flush, the Canadian season has
reached its first normal downturn in the production cycle. The Spring Mix
crops are in good shape and are producing nice quality fruit Supply and quality are good.
but have a bit less volume this week. Demand will be strong
through April, as there are a number of ads planned. Supply Squash: Yellow and Zucchini
should rebound to stronger levels as we move into May and EAST: South Florida still has a few weeks to go with squash
houses hit the next upturn in the cycle. FOBs are steady out crops, but Plant City is now up and running with light to
of Mexico but are up for Canadian product. moderate supply. Zucchini volume is stronger than yellow
squash’s, in part due to quality, but there’s an adequate
Pineapple amount of both colors around. FOBs are mostly steady on
Volumes on smaller sizes are available while the larger size yellow but are down on zucchini.
pineapples are still below normal volumes although they are WEST: With great weather in the current growing area of
picking back up some. Hermosillo, Mexico, we are seeing both good quality and
quantities that are expected to continue for the next couple
Potatoes (Idaho) of weeks. A few Baja growers have gotten underway and will
The potato market continues to move upward due to see their numbers rise over the next few weeks as well. With
increased demand for foodservice. Burbanks, Norkotahs, some local crops in the Fresno area getting started in early
and White Russets continue to ship all at once, with to mid-May, squash supply should remain solid for the near
Norkotahs beginning to wind down for the season. We future. FOBs are down slightly on yellows and at minimal levels
are seeing Norkotahs shipping in greater volumes at this on zucchini.
point in the season than we typically do, mostly do to
abbreviated demand resulting from Covid, as well as the
shortage of trucks limiting movement. Quality remains strong
on all varieties. Larger size cartons continue to tighten up
throughout the state on all varieties. Demand for small
potatoes remains strong due to the USDA Farmers to Families
Box Program. However, since growers remain in smaller lots,
the strong demand on small potatoes has not been enough
to keep sheds cleaned up. Additionally, as more growers
transition from Burbanks to Norkotahs, we are seeing heavier
inventories of smaller sizes as burbanks do not generate the
same level of large size cartons as Norkotahs. We expect this
trend to continue as more Norkotah shippers migrate over to
Burbanks. Demand continues to increase, and we anticipate
this to continue in the coming week. Warmer temperatures
will also help demand increase as we move toward spring and
summer. Other russet growing regions will finish shipping in
the coming weeks, so there will be less overall supply in the
market and this will help increase FOB pricing.
Snow Peas
Tight volume. Good quality.
8
market trends
WEek ending April 23, 2021
Produce (continued)
Sweet Potatoes WEST/MEXICO
All new crop sweet potatoes are shipping now. All cured and
quality is good. Rounds
Tomatoes are also plentiful in the West and should continue to
TOMATOES be through the rest of this month. West Mexico’s mature green
production will begin to gradually decline at the end of April,
EAST while vine-ripe numbers should stay steady and strong going
further into May. East Mexico is also adding more to the mix as
Rounds they move into Spring acreage. With Baja and the California
Round tomatoes are plentiful in the Sunshine State! Growers desert coming online sometime in mid-late May and the San
will continue to harvest crown picks in Estero for 2-3 more Joaquin Valley crops in June, supply should transition fairly
weeks, then move in for a few 2nds as market and supply smoothly. Overall quality is good, although there are some
conditions permit. Growers also joined much of the industry occasional trouble lots with age on them. All sizing options are
up in the Palmetto/Ruskin area with very minimal early available, with 4x5 and 5x5’s being the most prevalent. FOBs
harvests, anticipating volume to come along in 10-14 days. remain at or just above minimum levels.
Our yields and quality have been excellent with the optimum
size profile and product is moving well. Other growers are also Romas
experiencing strong yields and good sizing, but some have With multiple Mexican areas in production, roma supply
slowed harvests due to light demand. Quality is good coming continues to be steady and strong in the West. West Mexico
out of the fields, but a few shippers are working from backed is working both existing and new acreage with steady supply,
up inventories with color, so there could be hit and miss while East Mexico should be bringing more volume shortly
condition issues. FOBs are steady and low. as they move into new Spring crops. Baja is also on tap
to get started in a light way over the next week. Quality
Romas is just average from the older crops, but we look to see
Florida’s Roma production is also strong with more supply improvements as more new fields come into harvest. FOBs
than demand. Growers are harvesting in Estero, where our remain just above minimum levels.
Crimson-variety Roma has the center stage. These crops have
produced some of the nicest Romas we’ve harvested with Grape and Cherry Tomatoes
excellent sizing (J & XL) and quality that will go head-to-head Mexico’s Spring grape tomato crops are bringing consistent
with Mexico’s finest. We should continue to see nice volumes numbers this week with mostly good quality. Cherry tomato
for the next 3 weeks in Estero before moving up to Duette availability remains light, and quality is just fair. FOBs are down
(Ruskin/Palmetto area) with other growers in May. FOBs are slightly on grapes but are steady on cherries.
down this week.
Watermelons
Grape and Cherry Tomatoes WATCHLIST: Market remains firm this week but we are
Overall, the industry has a more than adequate supply of starting to turn the corner as we see more volume available
grape tomatoes this week. While most growers are focused in out of Florida. In Mexico we are seeing the same…more
the Ruskin area, some are harvesting almost equally in Estero volume coming on, but markets remain strong because
and Duette. The Estero crops are in the sweet spot of the demand is so high. Quality is good.
harvest cycle where size, quality and color are best. Quality
is also nice from the early picks in Duette. Grapes have been
moving well, so our fruit is fresh which may/may not be the
case for other growers. Cherry tomato production is following
the same pattern as grapes with supply a notch stronger than
last week. Quality is good, particularly when the fruit is fresh.
Pricing is steady to slightly higher, as there is a price premium
for the better quality.
9
market trends
WEek ending April 23, 2021
Beef, Veal & Lamb
Last week’s beef production schedules were boosted from the holiday shortened prior week, and, at 530.9 million pounds,
was well over last year’s (w/w) COVID reduced slaughter. Still, the USDA beef cutouts continued to rise throughout the
week, and the fact that packers are paying up for cattle likely means little price relief to the beef market in the near-term.
While the middle meats led last week’s price increases, the beef 50s were also sharply higher, ending last week just over
$0.90/lb. There looks to be limited price relief on the horizon as cattle supplies look tight heading into the summer and
beef demand is rising.
Description Market Trend Supplies Price vs. Last Year
Live Cattle (Steer) Increasing Good Higher
Feeder Cattle Index (CME) Increasing Good Higher
Ground Beef 81/19 Increasing Good Lower
Ground Chuck Increasing Good Lower
109 Export Rib (ch) Increasing Good Higher
109 Export Rib (pr) Increasing Good Higher
112a Ribeye (ch) Increasing Good Higher
112a Ribeye (pr) Increasing Good Higher
114a Chuck, Shlder Cld(ch) Increasing Good Higher
116 Chuck (sel) Increasing Good Higher
116 Chuck (ch) Increasing Good Lower
116b Chuck Tender (ch) Increasing Good Lower
120 Brisket (ch) Increasing Good Higher
120a Brisket (ch) Increasing Good Higher
121c Outside Skirt (ch/sel) Increasing Good Higher
121d Inside Skirt (ch/sel) Increasing Good Higher
121e Cap & Wedge Increasing Good Higher
167a Knckle, Trimmed (ch) Increasing Good Lower
168 Inside Round (ch) Increasing Good Lower
169 Top Round (ch) Increasing Good Lower
171b Outside Round (ch) Increasing Good Lower
174 Short Loin (ch 0x1) Increasing Good Higher
174 Short Loin (pr 2x3) Increasing Good Higher
180 0x1 Strip (ch) Increasing Good Higher
180 0x1 Strip (pr) Increasing Good Higher
184 Top Butt, boneless (ch) Increasing Good Higher
184 Top Butt, boneless (pr) Increasing Good Higher
184-3 Top Butt, bnls (ch) Increasing Good Higher
185a Sirloin Flap (ch) Increasing Good Higher
185c Loin, Tri-Tip (ch) Increasing Good Higher
189a Tender (sel, 5 lb & up) Increasing Good Higher
189a Tender (ch, 5 lb &up) Increasing Good Higher
189a Tender (pr, heavy) Decreasing Good Higher
193 Flank Steak (ch) Increasing Good Higher
50% Trimmings Increasing Good Higher
65% Trimmings Increasing Good Higher
75% Trimmings Increasing Good Lower
85% Trimmings Increasing Good Lower
90% Trimmings Increasing Good Lower
90% Imported Beef (frz) Increasing Good Higher
95% Imported Beef (frz) Increasing Good Higher
Veal Rack (Hotel 7 rib) Steady Good Higher
Veal Top Round (cap off) Increasing Good Lower
10market trends
WEek ending April 23, 2021
Grains
The corn and soybean markets remain relatively inflated. The South American harvests are progressing however the markets
are now focused on the disappointing U.S. plantings numbers from the USDA last month. The corn and soybean markets will
likely need to remain well supported to encourage further production.
Description Market Trend Supplies Price vs. Last Year
Soybeans, bushel Decreasing Good Higher
Crude Soybean Oil, lb Increasing Good Higher
Soybean Meal, ton Increasing Good Higher
Corn, bushel Decreasing Good Higher
Crude Corn Oil, lb Decreasing Good Higher
High Fructose Corn Syrup Decreasing Good Higher
Distillers Grain, Dry Decreasing Good Higher
Crude Palm Oil, lb BMD Increasing Good Higher
HRW Wheat, bushel Decreasing Good Higher
DNS Wheat 14%, bushel Increasing Good Higher
Durum Wheat, bushel Steady Good Higher
Pinto Beans, lb Decreasing Good Lower
Black Beans, lb Steady Good Higher
Rice, Long Grain, lb Steady Good Higher
Dairy
Last week cheese block prices were the highest in 12 weeks and barrel prices the costliest since November. U.S. cheese ex-
ports in February were down 2.3% (y/y) but were the fourth best for the month since 2000. Spot butter prices last week finished
the highest in over nine months. February butter exports were up 109.7% (y/y) and highest for the month in seven years. The
USDA raised their 2021 milk output forecast higher by 400 million lbs. and is projected to be 2.5% more than 2020. This will
support pending cheese and butter output, but prices will likely remain counter-seasonal firm this spring.
Description Market Trend Supplies Price vs. Last Year
Cheese Barrels (CME) Increasing Good Higher
Cheese Blocks (CME) Increasing Good Higher
American Cheese Increasing Good Higher
Cheddar Cheese (40 lb) Increasing Good Higher
Mozzarella Cheese Increasing Good Higher
Monterey Jack Cheese Increasing Good Higher
Parmesan Cheese Increasing Good Higher
Butter (CME) Increasing Good Higher
Nonfat Dry Milk Increasing Good Higher
Whey, Dry Increasing Good Higher
Class 1 Base Steady Good Lower
Class II Cream, heavy Increasing Good Higher
Class III Milk (CME) Increasing Good Higher
Class IV Milk (CME) Increasing Good Higher
11market trends
WEek ending April 23, 2021
Pork
Last week’s hog harvest remained in the sub 2.5 million head area, and based on the latest WASDE report, it appears that
only modest hog slaughter rates will occur in the near future. The USDA, expectedly, whacked 2021 pork production projec-
tions by 405 million lbs, and this suggests that pork prices will likely remain inflated well into the summer. Pork bellies pushed
over the $2.05/lb. at week’s end but expect some modest downside potential into the late spring. Still, tighter cold storage
belly stocks may temper those seasonal losses.
Description Market Trend Supplies Price vs. Last Year
Live Hogs Increasing Good Higher
Sow Decreasing Good Higher
Belly (bacon) Increasing Good Higher
Sparerib(4.25 lb & down) Increasing Good Higher
Ham (20-23 lb) Increasing Good Higher
Ham (23-27 lb) Increasing Good Higher
Loin (bone in) Decreasing Good Higher
Babyback Rib (1.75 lb & up) Increasing Good Higher
Tenderloin (1.25 lb) Increasing Good Higher
Boston Butt, untrmd (4-8 lb) Increasing Good Higher
Picnic, untrmd Decreasing Good Higher
SS Picnic, smoker trm box Decreasing Good Higher
42% Trimmings Decreasing Good Higher
72% Trimmings Increasing Good Higher
12market trends
WEek ending April 23, 2021
Poultry
Weekly chicken slaughter for the week ending April 3rd fell to 161.9 million birds and that was the smallest for any non-holiday
(and non-winter weather) week of the year. But forward broiler production levels look to be improving, as the most recent
Broiler Hatchery report indicates that producers are placing more eggs into incubators which should result in more active
chicken slaughter heading into the early summer. But current tepid broiler output continues to underpin prices amongst the
chicken complex. Yet, expect to see the wing markets break a bit lower into the summer as it looks like retail is taking a step
back from featuring chicken amid the persistently higher prices.
Description Market Trend Supplies Price vs. Last Year
Whole Birds WOG-Nat Increasing Good Higher
Wings (jumbo cut) Decreasing Good Higher
Wing Index (ARA) Decreasing Good Higher
Breast, Bnless Skinless NE Increasing Good Higher
Breast, Bnless Skinless SE Increasing Good Higher
Breast Boneless Index (ARA) Increasing Good Higher
Tenderloin Index (ARA) Decreasing Good Higher
Legs (whole) Increasing Good Higher
Leg Quarter Index (ARA) Increasing Good Higher
Thighs, Bone In Decreasing Good Lower
Thighs, Boneless Increasing Good Higher
Description Market Trend Supplies Price vs. Last Year
Whole Turkey (8-16 lb) Decreasing Good Higher
Turkey Breast, Bnls/Sknls Steady Good Higher
Eggs
Description Market Trend Supplies Price vs. Last Year
Large Eggs (dozen) Decreasing Good Lower
Medium Eggs (dozen) Decreasing Good Lower
Liquid Whole Eggs Decreasing Good Higher
Liquid Egg Whites Steady Good Higher
Liquid Egg Yolks Steady Good Steady
Egg Breaker Stock Central Decreasing Good Higher
13market trends
WEek ending April 23, 2021
Seafood
U.S. shrimp imports remained relatively strong during February at mostly lower price levels from January. During the month, the
U.S. imported 2.5% more shrimp than the previous year. As the world economy improves, the U.S. could face stiffer competi-
tion for shrimp imports which could be supportive of the markets. However, this is not likely to occur until later this year.
Description Market Trend Supplies Price vs. Last Year
Shrimp (16/20 frz) Decreasing Good Lower
Shrimp (61/70 frz) Decreasing Good Higher
Shrimp Tiger (26/30 frz) Decreasing Good Lower
Snow Crab, frz Increasing Good Higher
Tilapia Filet, frz Increasing Good Higher
Cod Filet, frz Increasing Good Lower
Tuna Yellowfin, frsh Decreasing Good Lower
Salmon Atlantic Filet, frsh Increasing Good Higher
Pollock Filet, Alaska, frz Decreasing Good Lower
14market trends
WEek ending April 23, 2021
Paper and Plastic Products
Description Market Trend Supplies Price vs. Last Year
WOOD PULP (PAPER)
NBSK- Paper napkin Steady Good Higher
42 lb. Linerboard-corrugated box Steady Good Higher
PLASTIC RESINS (PLASTIC, FOAM)
PS-CHH-utensils, cups, to-go cont. Steady Good Higher
PP-HIGP-heavy grade utensils Decreasing Good Higher
PE-LLD-can liners, film, bags Steady Good Higher
Retail Price Change from Prior Month
Description Feb-21 Jan-21 Dec-20
Beef and Veal Increasing Increasing Decreasing
Dairy Decreasing Decreasing Increasing
Pork Increasing Increasing Decreasing
Chicken Decreasing Decreasing Decreasing
Fresh Fish and Seafood Increasing Increasing Increasing
Fresh Fruits and Vegetables Decreasing Increasing Decreasing
Various Markets
Last week nearby Arabica coffee futures were 4.6% higher (w/w). A weakening greenback has recently supported coffee
prices as domestic imports become less available. Arabica coffee futures may become more volatile and could be targeting
the upside price resistance level of $1.356/lb.
Description Market Trend Supplies Price vs. Last Year
Whole Peeled, Stand (6/10) Steady Good Higher
Tomato Paste-Industrial (lb) Steady Good Higher
Coffee lb ICE Increasing Good Higher
Sugar lb ICE Increasing Good Higher
Cocoa mt ICE Decreasing Good Higher
Orange Juice lb ICE Increasing Good Higher
Honey (clover) lb Steady Good Higher
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