MARKET TRENDS FOR WEEK ENDING JULY 10, 2020 - PERFORMANCE FOODSERVICE
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market trends For week ending JuLy 10, 2020
market trends
WEek ending July 10, 2020
Produce
Market Overview
MARKET ALERT
There are some very active markets due to short supply on many
items including broccoli, iceberg & romaine. The Salinas Valley • Asparagus – EXTREME
• Broccoli – SHORT SUPPLY BUT IMPROVING
growing region has experienced adverse weather variances during
• Cantaloupe – ESCALATED
the months of April and May. Hotter than normal temperatures, high
• Carrots (Value Added) – EXTREME
humidity, and late spring rain has adversely affected many crops.
• Corn – EXTREME
Therefore, this has been a very challenging growing period. As a • Garlic – EXTREME
result, we are currently experiencing reduced yields, weights, and • Ginger – EXTREME
supply gaps on the broccoli, cauliflower, cilantro, and romaine crop. • Green Bean – ESCALATED
Asparagus, garlic and ginger, the 4th of July. Soft squash in the east • Romaine – ESCALATED BUT IMPROVING
is extremely short and we expect to remain so through July 10th. • Yellow & Green Squash (East Coast) – EXTREME
Broccoli and romaine are escalated. • Cherry & Grape Tomato (East Coast) – EXTREME
Temperatures are going to be in the mid to low 70’s in Salinas with WATCH LIST
the south end of the valley in the mid 80’s to low 90’s for the next • Bell Peppers (Yellow)
10 days. Along with the moderate temps we have been seeing • Melons (Honeydew & Watermelon)
some very windy days. The warm temperatures and high wind will • Mushrooms
continue to cause issues with dehydration, wind burn, fringe burn • East Coast Dry Veg – North Carolina and South
and dehydration. Carolina: Due to weather last month we will see
lighter than normal volume out of the region on
We are going to continue to jump in and out of brand especially in mixed dry veg through July 10th
the fields that get closer to the south end of the valley. I am seeing
some nice fields near the coast which is helping keep us packing
some Peak. Commodity pack and processed items will continue to
be lot to lot for the next week or so.
Shown are some pictures of Church Bros iceberg for tomorrow that will be packed in Peak; a picture of misshapen lettuce
from heat stress, as well as internal burn in an over mature, heat-stressed romaine field.
2
market trends
WEek ending July 10, 2020
Produce (continued)
Apples & Pears Avocados
There is good supply on new crop fruit out of all major Avocados Industry has sourced sufficient volume to fulfill
domestic growing areas. The Granny Smith market for 4th of July promotional pulls. Domestic inventories of both
foodservice will remain tight due to a shift in sizes; there MX and CA fruit elevated on 40ct and larger. Small fruit and
is lighter than normal crop on 100s. Quality is very nice #2s currently tight. CA continues to harvest 13-16 million
across all varieties. Asian pear supply is available. Chilean & lbs. weekly. Anticipate a reduction of harvest next week. MX
Argentine Bartlett Pears in LA. in the final stages of harvesting the end of the current crop.
Artichokes Size curve yielding a high percentage of 48ct and larger.
Good supply available this week. Quality is good. Prices are Size curve likely to be stronger on the smaller sizes with Flor
steady. Loca’s release 2nd week of July. Peruvian arrivals primarily
headed to large retail outlets. 16-18 mil lbs. now arriving
Arugula weekly. Arrivals strongest on the larger sizes. European
Supply and quality are good. Market at capacity; shippers may reroute additional volume
to the US. Retail continues to drive sales. Avocados are
currently competing with summer fruits for display space.
Asparagus
Bagged programs continue to over perform. Foodservice
EXTREME We are expecting a very short supply on
remains difficult to forecast with some regions experiencing
Asparagus through the first part of July due to several
growth. CA and Peruvian volumes with a small percentage of
factors: Production in Mexico is unexpectedly low due to
#2s. Industry likely to ship #1s as #2s to fulfill commitments.
a lack of rain delaying the maturity of the crop. Domestic
Will place additional pressure on industry already short on
Asparagus has been impacted by weather (rain) as well as
small fruit. Expect this to continue until Mexico’s next crop
major reductions in packing shed labor due to Covid-19 and
arrives in volume back end of July. Market remains volatile
Social Distancing practices. Normal light seasonal volume out
with three countries of origin available domestically. Gap in
of Peru with cooler than normal temps. price between small and large fruit shrinking. #2 availability
likely to continue to be an issue.
Bananas
Overall quality of conventional bananas is good. Plenty of
volume available.
Beans
East - With the Eastern shores of NC and VA working through
rain issues and GA pretty much finished for the season, green
beans have been extremely snug in the East. Fortunately,
some new crops in IN and TN have gotten started this week,
helping to ease the supply situation. VA’s significant acreage
and volume will eventually kick in, adding supply and stability
to the market. FOBs were very elevated at the beginning of the
week but are now dropping.
West - The West has several areas in production, but no area
has any significant volume. We are seeing limited numbers
from the Watsonville, Baja and Santa Maria areas currently.
Brentwood has been in a small gap but should return with
harvests this week. FOBs are steady but elevated
Berries:
Blueberries
PNW production will begin this week and volumes will pick
up quickly. Watsonville production will continue to slowly
decrease. SJV will have one more week of strong volumes
and then production will taper off. Oxnard production
will continue to decrease each week moving forward. NJ
production will start this week.
3
market trends
WEek ending July 10, 2020
Produce (continued)
Blackberries Corn
Oxnard will continue to be the main producing region for EXTREME Corn supply will remain limited out of South
another week then gradually descend. Watsonville will see Georgia as a result of rain the past several weeks. The
peak volume for another week or two then go down. Santa precipitation has caused the corn to not mature fully and
Maria will have stable volume for the next 2-3 weeks. we are also seeing poor quality. In the west, Brawley has
finished up, we are still seeing a few cases being packed in
Raspberries Coachella however still anticipate light volume in the Central
All California regions are currently producing peak volume. We Valley due to the current heatwave affecting the region. We
should continue with this kind of volume into next week. are expecting Texas to start any day now, but we have been
seen heavy rain in recent days throughout Texas which will
Strawberries only further delay production. We are expecting a very short
We hope to see volume increase over the next two weeks. market through the 4th of July due to rain and very high
Although volumes are currently still decreasing, we expect a demand impacting the supply chain.
good recovery.
Cucumbers
Bok Choy East - There are still a few cucumbers in GA, but they’ll be
Supply and quality are good this week. wrapping things up this week as will our Eastern NC deal.
Quality has been okay, but not great, from both areas as
Broccoli rains have impacted the fruit. Jersey has gotten started with
Supplies have improved but volumes are still below normal. healthy new crops and expects to see volume build over the
next few weeks. With Jersey’s fruit and the bits and pieces
Brussels Sprouts coming from local deals, the East should have supply to carry
We will have tight supplies this week, but we expect better them until mid-July when MI and NY get in the game. FOBs
volume beginning the week of 7/6. Quality is generally good have fallen a few dollars this week.
to very good.
West - Mainland Mexico is just about done, with only 1-2
Cantaloupe
growers still going. The majority of supply is now coming
Market has skyrocketed as we wind down in the desert and
from Baja with a couple more growers still scheduled to start
volumes are on the lighter side. The overall quality has been
over the next few weeks. For the next week or so, availability
very good and should finish that region on a strong note. The
will be limited due to high demand and volume commitments
USDA box program has really helped to keep the floors clean
for the upcoming holiday, but overall quality is strong, and we
as well as good demand at the retail level. We are expecting
don’t expect to see any issues. FOBs are up slightly again
to start up here on the Westside next week. We should see
this week, mostly reflecting the increased holiday demand.
the market ease a bit once we start up here, the overall
starting quality looks good this warmer weather is also
helping out.
Carrots
Good Supply and Good quality shipping from California.
(Value Added): EXTREME Many packs sizes, especially the
sizes that are hand packed, are in very short supply due
to the social distancing regulations from the Coronavirus.
Quality remains good.
Cauliflower
We are expecting excellent volume all week.
Celery
Business is much better in Salinas, with less supplies
available in the industry. The market is higher this week.
Cilantro
Supplies are expected to be plentiful this week.
4
market trends
WEek ending July 10, 2020
Produce (continued)
Eggplant Garlic gets started. Had it not been for Covid-19, this would
East - Eggplant has been plentiful with strong supply and have happened sooner but due to the decreased demand
nice quality coming out of GA. However, we are starting to during this time, this allowed the season to be extended
see volume lighten up and prices rise as they near the end of before they needed to source product elsewhere. To cover
the season. Our Eastern NC farm cut a few early-bird eggs orders, Garlic Co will be sourcing product from Mexico to fill in
last week and should see more fruit this week. With other and orders “MAY” need to be subbed with Product of Mexico
local areas set to begin over the next few weeks, eggplant until the new season starts. They are estimating orders will be
supply should remain at least adequate in the East. FOBs are filled with as much as 50% from Mexico and 50% from Calif
up slightly. but please understand, we will do everything we can to not
have to sub or at least keep subs to a minimum. Calif Garlic
West - Western supply is on the lighter side as eggplant
season is estimated to start in 2-3 weeks, but orders could
production transitions. The CA desert will wind down by
still be subbed with product of Mexico longer until they get
the 4th of July but be back in action for the Fall in mid-
into full production with Calif Garlic.
September. Both Baja and Fresno are in the early stages
of their seasons and should see more volume as they get
further into crops. FOBs are slightly higher this week. Ginger
EXTREME Ginger remains very volatile also due to very
English Cukes inconsistent supply and market is higher. Supply to remain
Good volume and good quality continue. Markets are higher tight for the foreseeable future.
this week.
Grapes
Fennel Nogales market is all over the board depending on quality,
We are expected to be slightly below budget on fennel this there is a very wide range in quality some lots are heavy
week. shatter 50% color range in size9-12 some smaller erratic
bunch size. The better fruit with good size color and fruit
Garlic strength is staying very strong but the marginal fruit is
EXTREME The garlic market as a whole remains very abundant and deals to be made but be careful. The green
volatile. The 2019 Garlic crop is finished. Calif Garlic will be grape market is more stable and better quality and is keeping
running short through the end of the season until new crop strong. Also, Coachella Valley is going and will go for another
week. We will start up here in the Central Valley around the
6th of July. Once we start up here in the Central Valley we will
be going through December. The overall crop up here looks
to be good and a bit lighter than last years.
Green Cabbage
Supply and quality are good this week.
Red Cabbage
Supply and quality are good this week.
Green Onions
Supply and quality are good.
Honeydew
Market has kept pretty strong out of the desert regions and
should keep pretty steady for the next 2 weeks and see how
things go once we start here on the west side towards the
end of next week. The overall quality out of the desert has
been very nice, and we expect to have nice quality up here
as well.
5
market trends
WEek ending July 10, 2020
Produce (continued)
Jicama Onions
Storage product is available; expect to see blemishing as it is The market saw a quick uptick in FOB prices this week in
storage fruit. Supply stable. both California and New Mexico. With Texas being finished,
and Vidalia supplies still feeling the effects of heavy rain,
Kale (Green) demand is stressing these too regions. We are seeing high
Bunched kale supply is expected to be plentiful for the next temperatures in California continue to affect shrink levels
few weeks. Quality is good. on all colors of onions, and we expect this will continue
going into this weekend as more high temperatures are
Lemons expected. Additionally, we are seeing the early plantings
We are packing Dist. 2 (Coastal) fruit and have just received in both California and New Mexico finish up, and the later
some of our first Chilean lemons and they look very nice. crops experiencing delays as they are not fully ready to
The overall quality is good to fair on the D-2 with good color ship yet. This is going to create a seven to ten-day gap for
some mis-shapen and wind scar, but good juice content and many shippers. We anticipate the market will continue to
overall a good piece of fruit. Market has strengthened as strengthen until just after the 4th of July holiday, and possibly
demand has been very good across the board and expect beyond. Washington is expected to start shipping in about
the market to continue to increase and probably ease a bit a month from now as well, which should likely limit the levels
by end of July as we see an increase in Chilean and some in which the FOB prices will reach. The extension of the
Mexico volume also starting around that time. USDA box program is also causing supplies to remain firm,
particularly on small sizes of all onion colors. Freight remains
Lettuce: a challenge out of both California and New Mexico, and we
Butter expect that will continue until after the holiday.
Production volumes are on budget this week. Overall
demand is steady, while markets remain flat. Oranges
Market continues much stronger across the board due to
Green Leaf the spike in demand for oranges we have finished our navels
Production volumes are near budgeted numbers. Blocks are for the season and now all Valencia’s through mid-October,
very nice with good texture, size, and weight. Demand has or imported Navels around the third week of July for us if
picked up and markets are firming up bottoms. are needing Navels. We have hit the simmer weather, going
to be in the low 100’s for the next 10 days. The color on
Red Leaf Valencia’s has been very nice and sugar and juice content are
Overall supply is below budget this week. excellent, we will probably start to see some re-greening on
the fruit due to these hot days ahead of us but should not be
Iceberg Lettuce too bad. We will have to de green some blocks depending
Supply continue to be lighter than normal. Overall quality has on color coming in from the field so you could see a tinge of
been good; demand has increased with more restaurants green on the stem and blossom ends.
reopening. The market started to get active last week
with higher prices and should be the same this week. The
forecast is for higher prices.
Romaine/Romaine Hearts
ESCALATED Industry supply is limited but supply is
improving daily. We expect reduced supply for at least the
next month. With the recent demand increase, we have seen
market pricing advance dramatically.
Limes
Limes are stable right now. No sudden increases for next
week coming.
Napa
Supplies and quality are good this week.
6
market trends
WEek ending July 10, 2020
Produce (continued)
Parsley (Bunched) Red & Yellow Bell Pepper
Bunched Parsley supply is expected to be plentiful again this East/West - Our Canada crops have been working through
week. Quality is good. a downcycle in production but should see a little more fruit
and better color later this week. We are also using new crops
Green Pepper from Central and SE MX. Volume is still light but should pick
East - Bell peppers are in a snug spot. Although there have up the pace over the next few weeks. Orange is the shortest
been a few loads out of GA that were of surprisingly decent color of the three. FOBs are extremely high this week.
quality last week, volume and quality are winding down
quickly, forcing most growers to call it a wrap this week. Pineapples
Our coastal NC farm’s peppers are running behind because Volume has stabilized and will continue to be good
of prior weather affecting the fruit set but they project first moving into mid-July. Quality is high and the taste profile is
harvests to start, at least in a light way, this week. With only wonderful.
a small SC deal in harvest and most other local deals 10-14
days away, this week could prove to be challenging. FOBs Potatoes (Idaho)
remain extremely high. Supplies are beginning to tighten up throughout the state.
As is typical for this time of year, potatoes are beginning
West - Bakersfield is the main growing region in the West to look tired and are showing their age. This is causing
right now. Quality is very good, but supplies are limited due to production to slow down some, which is tightening up supply
extra demand from the East and larger orders for the 4th of across the board. Size profiles remain heavier to small size
July holiday pull. Fresno will be our next growing region which potatoes, which the 40ct and 50ct being on the tighter side.
is slated to start around the middle of July. FOBs are steady The market in Washington has reacted faster on large size
but elevated this week. counts this week than it has in Idaho, which generally means
that Idaho will not be far behind. Both foodservice and retail
Jalapeño (Chiles) demand have been steady, and the industry seems to have
East- GA is winding down the chili pepper season but should settled at these levels for the time being. The extension of
ship through next week. Quality is declining as they near the the USDA Produce Box program is helping to keep product
finish line. Jalapenos are just okay and there have been some moving and hold markets up. We continue to see plenty of
pretty significant issues on poblanos and Cubanelles. A few LTL shipments and shared trucks to avoid getting too far out
local deals in various parts of the East will begin with light on inventory, but full load volume trucks are continuing to
volumes over the next few weeks with the most significant increase as well. We expect FOB pricing to remain firm and
numbers coming from NJ and MI. FOB’s are steady. continue to increase in small ways each week until the end of
old crop. New crop potatoes are expected to start shipping
West - The hot pepper season is pretty much finished out around the first or second week of August. Trucks remain
of Sonora. There are still some jalapenos, Anaheims, and in short supply, and we are continuing to see rates increase
tomatillo but quality is dwindling with misshape, sunscald, with capacity tightening.
decayed tips, etc. Baja is seeing better volumes and should
hit its stride in another 5-6 days. Quality is excellent and Snow Peas
keeps getting better as plants are manicured for the next Limited supply, good quality. Volume is slowly increasing. Due
sets. FOBs are steady. to Covid-19 all farms are working with skeleton crews.
Sugar Snap Peas
Limited supply, good quality. Volume is slowly increasing. Due
to Covid-19 all farms are working with skeleton crews.
Spinach (Bunched)
Supply and quality are good. Quality is fair due to slight heat
damage from past weeks.
Spinach (Baby)
Supply and quality are good. Quality is fair due to slight heat
damage from past weeks.
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market trends
WEek ending July 10, 2020
Produce (continued)
Spring Mix Grapes/Cherries - SC’s grape tomatoes are still rolling along
Supply is good and quality is fair to due to slight heat with limited volume but enough to meet commitments. There
damage from past weeks. are a few weather-related quality issues (like splits) but extra
efforts in the packing house are bringing a nice product to
Sweet Potatoes and Yams market. VA and TN are on the horizon and plan to begin
Demand for sweet potatoes continues to be high. We will see harvests the week after the 4th. FOBs are down slightly but
the market remain steady. FOB’s out of all growing regions remain elevated.
remain above average, but we should not expect a spike.
West/Mexico
Yellow Squash/Zucchini Rounds - Fortunately, there should be enough fruit in the
East - Although squash is still a little hit or miss in the East, West to help the East get through its short spot. Mature
there are signs of improvement. GA and Eastern NC are done green volumes are picking up in the San Joaquin Valley as
for all practical purposes, but a few more local deals are up more growers get started and heat brings crops on quickly.
and running (TN, western NC, KY, VA) and NJ is starting Baja’s vine-ripe deal is rolling along with good production
to see more volume. Jersey’s quality has been good so far and there are still a few growers left to start. Baja’s fruit is
but there are mixed reports from other areas, especially on on the larger side as weather and crown-pick conditions are
yellow. FOBs have fallen and sit closer to normal summertime bringing nice, big tomatoes. Lipman’s CA crops are tap for
levels this week. first harvests on or around July 10th. FOBs are steady.
West - As for the West, Baja, Santa Maria and the CA Central Romas - In the West, San Joaquin Valley growers have
Valley are all experiencing lighter production due to recent started Romas in a light way and will be increasing weekly as
excessive heat and winds which has caused them to lose we move into/through July. First harvests have some quality
many flowers from the plants. CA’s quality is also an issue, ups and downs due to weather, but proper sorting produces
so this product is not traveling well. Cool weather has slowed a nice pack. Baja and Eastern Mexico also have moderate
down the production from Eastern Washington, but the volumes of Romas available. FOBs are steady.
forecast looks favorable for a rebound this week. FOBs are
falling. Grapes/Cherries – Our new crops in Central Mexico are
coming on strong with good volume and quality. The fruit is
Tomatoes still on the bigger side but will size down as we move into later
East picks. Baja rounds out grape supply for the West. Volume
Rounds -Transition is the theme in the East. One grower has been slow to increase as recent weather has been on the
is left in the Quincy/South GA area who may be able to cooler side. FOBs remain elevated but are steady.
go another 7-10 days if weather and quality permit, but
SC is the primary spot for round tomatoes in the East. SC Watermelons
continues with light to moderate volume with only the occa- WATCHLIST Watermelon prices continue to be high due
sional quality issue. They will finish crown picks this week and to light supply. Florida is done, Georgia and Alabama have
will consider going back for the lighter 2nd harvests to help fill limited supply and demand at retail is putting tremendous
the gap if crops stay strong through weather. There will be a pressure on the supply chain. South Carolina has begun to
few spots in NC and TN that may start scratch-picking at the ship in a light way. Quality is also being impacted in the east
end of the week, but VA, NJ, and most TN growers are still form the moisture and virus pressure. We do not expect to see
2-3 weeks out. FOBs are steady. improvement on supply until mid-July in the east. Demand is
strong for Texas and California fruit and many customers have
Romas - We’ve reached the Eastern gap in Roma produc- shifted to western product.
tion. A few growers in TN, NJ and NC are set to get started
in a light way after the 4th but volume will be minimal until the
middle of July. Since there’s so little product, FOBs aren’t really
relevant, but they are steady.
8
market trends
WEek ending July 10, 2020
Beef, Veal & Lamb
Beef output last week jumped sharply going into this holiday shortened week, with the week’s 562.3 million pounds coming
in as the sixth largest weekly production total on record. Further price pressure is being applied to the USDA Choice cutout
which may persist well after the Fourth of July week. Price weakness for the end meats should subside but middle meats will
likely still weigh heavy on the cutout. The beef 50s remain under pressure as big kills and fat cattle remain the industry theme.
Some buying interest may pick up at lower prices, but another COVID bout may temper restaurant business.
Description Market Trend Supplies Price vs. Last Year
Live Cattle (Steer) Decreasing Good Lower
Feeder Cattle Index (CME) Increasing Good Lower
Ground Beef 81/19 Decreasing Good Lower
Ground Chuck Decreasing Good Lower
109 Export Rib (ch) Decreasing Ample Higher
109 Export Rib (pr) Decreasing Short Lower
112a Ribeye (ch) Decreasing Ample Higher
112a Ribeye (pr) Decreasing Good Lower
114a Chuck , Shlder Cld(ch) Increasing Ample Lower
116 Chuck (sel) Increasing Ample Lower
116 Chuck (ch) Increasing Ample Lower
116b Chuck Tender (ch) Decreasing Good Lower
120 Brisket (ch) Decreasing Good Lower
120a Brisket (ch) Increasing Ample Lower
121c Outside Skirt (ch/sel) Decreasing Good Lower
121d Inside Skirt (ch/sel) Increasing Good Lower
121e Cap & Wedge Decreasing Ample Higher
167a Knckle, Trimmed (ch) Increasing Good Lower
168 Inside Round (ch) Increasing Ample Higher
169 Top Round (ch) Increasing Ample Lower
171b Outside Round (ch) Increasing Good Lower
174 Short Loin (ch 0x1) Decreasing Ample Higher
174 Short Loin (pr 2x3) Decreasing Ample Lower
180 0x1 Strip (ch) Decreasing Ample Higher
180 0x1 Strip (pr) Decreasing Ample Lower
184 Top Butt, boneless (ch) Decreasing Good Lower
184 Top Butt, boneless (pr) Decreasing Good Lower
184-3 Top Butt, bnls (ch) Decreasing Good Lower
185a Sirloin Flap (ch) Decreasing Ample Higher
185c Loin, Tri-Tip (ch) Decreasing Ample Lower
189a Tender (sel, 5 lb & up) Decreasing Good Lower
189a Tender (ch, 5 lb &up) Decreasing Good Lower
189a Tender (pr, heavy) Decreasing Good Lower
193 Flank Steak (ch) Decreasing Good Lower
50% Trimmings Decreasing Good Lower
65% Trimmings Decreasing Good Higher
75% Trimmings Decreasing Good Lower
85% Trimmings Increasing Ample Higher
90% Trimmings Decreasing Ample Higher
90% Imported Beef (frz) Steady Ample Higher
95% Imported Beef (frz) Steady Ample Lower
Veal Rack (Hotel 7 rib) Steady Ample Higher
Veal Top Round (cap off) Steady Ample Higher
9
market trends
WEek ending July 10, 2020
Grains
The row crops remain under price pressure as current weather forecasts point towards expanded corn and soybean yields
on already large production expectations. Drought continues to threaten some winter and spring wheat output, but strong
international wheat exports continue to keep pressure on our domestic prices.
Description Market Trend Supplies Price vs. Last Year
Soybeans, bushel Decreasing Ample Higher
Crude Soybean Oil, lb Decreasing Good Lower
Soybean Meal, ton Decreasing Good Lower
Corn, bushel Decreasing Good Lower
Crude Corn Oil, lb Decreasing Ample Higher
High Fructose Corn Syrup Decreasing Good Lower
Distillers Grain, Dry Decreasing Good Lower
Crude Palm Oil, lb BMD Decreasing Good Higher
HRW Wheat, bushel Decreasing Good Lower
DNS Wheat 14%, bushel Decreasing Good Lower
Durum Wheat, bushel Increasing Short Higher
Pinto Beans, lb Steady Ample Higher
Black Beans, lb Steady Ample Lower
Rice, Long Grain, lb Steady Ample Higher
Dairy
The CME cheese block and barrel markets remain historically inflated. The butter markets have been softening. Per the USDA,
May 31st U.S. cheese inventories were up 5% compared to the previous year. Butter stocks at the end of May were up 21.2%
(y/y). Anticipate cheese prices to correct lower due in part to lessening exports and solid production. Long term contracting
should be on hold. The butter markets could experience some modest declines from here but prices usually firm during the sum-
mer as cream supplies become seasonally tight. Some long-term buying for your butter needs may be deemed.
Description Market Trend Supplies Price vs. Last Year
Cheese Barrels (CME) Increasing Ample Higher
Cheese Blocks (CME) Increasing Ample Higher
American Cheese Decreasing Ample Higher
Cheddar Cheese (40 lb) Decreasing Ample Higher
Mozzarella Cheese Decreasing Ample Higher
Monterey Jack Cheese Decreasing Ample Higher
Parmesan Cheese Decreasing Ample Higher
Butter (CME) Decreasing Good Lower
Nonfat Dry Milk Decreasing Good Lower
Whey, Dry Decreasing Good Lower
Class 1 Base Steady Good Lower
Class II Cream, heavy Increasing Ample Lower
Class III Milk (CME) Increasing Ample Higher
Class IV Milk (CME) Decreasing Good Lower
10market trends
WEek ending July 10, 2020
Pork
Weekly hog harvests last week jumped 5.4% over a year ago and are now again in line with the year-over-year gains noted
throughout 2019 and early 2020. Hog supplies are abundant so anticipated pork production to remain robust throughout the
summer. Wholesale pork prices have been struggling but look for a floor in the markets as prices are at attractive value levels
both, domestically, and from an export perspective. Ham prices likely have additional upside potential, but pork bellies may be
choppy to slightly higher going into the summer.
Description Market Trend Supplies Price vs. Last Year
Live Hogs Increasing Good Lower
Sow Increasing Good Lower
Belly (bacon) Decreasing Good Lower
Sparerib(4.25 lb & down) Increasing Ample Higher
Ham (20-23 lb) Decreasing Good Lower
Ham (23-27 lb) Decreasing Good Lower
Loin (bone in) Decreasing Good Lower
Babyback Rib (1.75 lb & up) Increasing Ample Higher
Tenderloin (1.25 lb) Decreasing Ample Higher
Boston Butt, untrmd (4-8 lb) Increasing Good Lower
Picnic, untrmd Increasing Good Lower
SS Picnic, smoker trm box Increasing Good Lower
42% Trimmings Decreasing Ample Higher
72% Trimmings Decreasing Ample Lower
11market trends
WEek ending July 10, 2020
Poultry
For the week ending June 20th, chicken slaughter faded from the week prior, and was down 4.6% from a year ago. Still,
heavier bird weights salvaged some of the production declines as ready-to-cook supplies were down just 2.4% (y/y). Broiler
chicks placed continue to indicate a supply recovery is forthcoming, but production may remain modestly behind a year ago.
The chicken wing and breast meat complexes have found some support while the dark meat sector continues to struggle.
Take note that the prospective July start to both basketball as well as baseball may underpin chicken wing prices, but COVID
concerns however have left restaurant reopenings in question moving forward.
Description Market Trend Supplies Price vs. Last Year
Whole Birds WOG-Nat Increasing Good Lower
Wings (jumbo cut) Increasing Ample Lower
Wing Index (ARA) Increasing Ample Lower
Breast, Bnless Skinless NE Decreasing Good Higher
Breast, Bnless Skinless SE Increasing Good Higher
Breast Boneless Index (ARA) Increasing Good Higher
Tenderloin Index (ARA) Increasing Good Lower
Legs (whole) Decreasing Good Lower
Leg Quarter Index (ARA) Increasing Good Lower
Thighs, Bone In Decreasing Good Lower
Thighs, Boneless Decreasing Good Lower
Description Market Trend Supplies Price vs. Last Year
Whole Turkey (8-16 lb) Increasing Ample Higher
Turkey Breast, Bnls/Sknls Steady Good Lower
Eggs
Description Market Trend Supplies Price vs. Last Year
Large Eggs (dozen) Steady Ample Lower
Medium Eggs (dozen) Steady Ample Higher
Liquid Whole Eggs Increasing Ample Higher
Liquid Egg Whites Steady Ample Lower
Liquid Egg Yolks Steady Ample Higher
Egg Breaker Stock Central Steady Ample Higher
12market trends
WEek ending July 10, 2020
Seafood
The Canadian snow crab fishing season is entering its final stages after a COVID-19 delayed start. As of June 29th, 81% of
the Newfoundland quota had been landed. Both the Newfoundland and Gulf of St. Lawrence snow crab quotas are higher this
year and slack food service activity is tempering demand. Still relatively limited snow crab supplies are anticipated to persist.
Description Market Trend Supplies Price vs. Last Year
Shrimp (16/20 frz) Steady Good Lower
Shrimp (61/70 frz) Steady Good Lower
Shrimp Tiger (26/30 frz) Steady Good Lower
Snow Crab, frz Steady Good Lower
Tilapia Filet, frz Steady Good Lower
Cod Filet, frz Steady Good Lower
Tuna Yellowfin, frsh Steady Good Higher
Salmon Atlantic Filet, frsh Steady Good Lower
Pollock Filet, Alaska, frz Steady Good Higher
13market trends
WEek ending July 10, 2020
Paper and Plastic Products
Description Market Trend Supplies Price vs. Last Year
WOOD PULP (PAPER)
NBSK- Paper napkin Steady Good Lower
42 lb. Linerboard-corrugated box Steady Good Lower
PLASTIC RESINS (PLASTIC, FOAM)
PS-CHH-utensils, cups, to-go cont. Increasing Good Lower
PP-HIGP-heavy grade utensils Increasing Good Lower
PE-LLD-can liners, film, bags Increasing Ample Higher
Retail Price Change from Prior Month
Description May-20 Jun-20 Jul-20
Beef and Veal Increasing Increasing Decreasing
Dairy Decreasing Increasing Decreasing
Pork Increasing Increasing Decreasing
Chicken Decreasing Increasing Increasing
Fresh Fish and Seafood Decreasing Increasing Decreasing
Fresh Fruits and Vegetables Decreasing Increasing Decreasing
Various Markets
Nearby Arabica coffee futures earlier this month priced at the lowest level in seven months but have found some support
recently. Pending Brazilian coffee production is forecasted to be solid and demand is waning due to COVID-19. Still coffee
purchasing below $1.00 per pound has proven to be beneficial.
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 Lower
Sugar lb ICE Increasing Good Lower
Cocoa mt ICE Decreasing Good Lower
Orange Juice lb ICE Increasing Ample Higher
Honey (clover) lb Decreasing Good Lower
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