Market trends For week ending March 25, 2022 - Performance Foodservice
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market trends For week ending March 25, 2022
market trends
WEek ending March 25, 2022
Produce
MARKET OVERVIEW
MARKET ALERT
The lime market continues to struggle, particularly on large-sized
• Avocados – ESCALATED
fruit, and we expect to see reports on low yields through April. We
• Bananas – ESCALATED
are hoping to see some relief on small-sized fruit over the next few • Bell Pepper (Green) - ESCALATED
weeks, but between limited supply, logistics, and political pressure, • Carrots (Jumbo) – ESCALATED
we will see a very active market for the rest of the month, at the • Cauliflower – ESCALATED
very least. Avocado markets remain firm and are expected to do • Celery - ESCALATED
so over the next several weeks, particularly on larger-sized fruit. • Corn – ESCALATED
Field pricing remains strong due to lower-than-expected yields, • Cucumbers – ESCALATED
and we are seeing much higher demand this week in Mexico for • Garlic – EXTREME
fruit which is pulling from the export allocations due to Lent. • Ginger – EXTREME
• Grapes – ESCALATED
Regarding dry veg, moderate weather has allowed for stable • Lettuce (Green Leaf & Butter) - ESCALATED
volume crossing through Nogales and McAllen on eggplant and • Lettuce (Iceberg) - EXTREME
peppers, but demand from the east will keep markets elevated. • Limes – EXTREME/FORCE MAJEURE
Cucumber volume has ramped back up out of Mexico while in • Mushrooms – EXTREME
the east. We will need to keep a close watch on the weather this • Pineapple – ESCALATED
weekend, with a blast of cold air approaching that could affect • Romaine & Romaine Hearts – EXTREME
spring crops. Import cucumbers from Honduras are mostly done • Soft Squash (Yellow and Green) - ESCALATED
for the season, and we are seeing a bumpy transition to Florida as WATCH LIST
production ramps up over the next week. Eggplant is also easing
• Arugula
up out of the east, and Zucchini and Yellow Squash are limited
• Florida Fruit & Veg
in Florida as well as Mexico due to weather related pressure. • Green Beans
Import tomatoes from Mexico continue to be stable, and quality • Snow Peas
is outstanding, although in Florida we continue to assess the core
tomato items (rounds and romas) which were impacted by the
freeze late last month.
Corn out of Florida tightened up, prices jumped this week, and
demand was very good. As previously reported, this will be a TRANSPORTATION
hit and miss market as we navigate through damages done to The leading topic of discussion over the last few
the crop from weather related pressure. Table grape volume is weeks has been in regards to the extensive fuel
gradually improving from Chile; however, we continue to see some increase. Unfortunately, we don’t anticipate an
logistical challenges at the ports. With marginal demand and end in sight for quite some time. Diesel hit another
additional volume shipping to the U.S., markets should ease over record high with an average cost of $5.250 per
the next few weeks. Banana volume continues to be below normal gallon. This is up $0.401 over last week and
but should improve over the next several weeks, and shippers $1.146 in the last two weeks. The rapid increases
will navigate through the issue with lighter volume yet continue to are causing rates to shoot up everywhere. With
struggle with color and strong demand in all sectors. They will be some regions of California seeing diesel rates over
behind on color until they can get ahead of the shortfalls. $7 per gallon, the cost to send a truck to the West
Coast has gone up immensely.
As the weather warms up, produce is starting
to ship out of various regions, including Texas,
California, and many other southern states.
Surging fuel prices, produce season, and
general economic uncertainty due to the ongoing
crisis in Ukraine is creating a perfect storm of
unpredictability in the transportation market. If
fuel does not stabilize soon, we’ll either see rates
reach record breaking levels or carriers will begin
to close their doors.
2
market trends
WEek ending March 25, 2022
Produce (continued)
YUMA, AZ FORECAST
FRUITS & VEGETABLES BERRIES
Apples & Pears Blackberries
Apples: West coast new crop apples are being packed; Transition period between the mid and late part of the central
however small sizes remain tight. East coast apples are Mexico season has begun. Expect lighter supply to continue for
available as well. Market price remains firm on small fruit as 2-3 weeks and then after late March, expect supply to increase
local schools take most of the volume. as we approach the central Mexico spring peak. The California
Pears: This year’s pear crop was down significantly, with mostly regions will slow down for the next two months.
larger fruit available. Growers are trying to drag out supply as
best as possible until new crop starts next August. Blueberries
Supply will continue to increase, driven mainly by Central
Avocados Mexico. Central Mexico production is in their spring peak this
ESCALATED: We expect to see firm markets continue as the week and next. Baja production is continuing to increase, and
supply of normal crops remains below expectations, particularly South American production is finished for the season. Florida
on larger-sized fruit. The size curve out of Mexico continues to production has begun, and we will see increasing volumes over
run small (70’s and smaller). This time last year 40s and larger the next few weeks.
accounted for almost 20% of the crop, and it’s running close to
10% this year. Large-sized fruit is expected to be tight through
June, when we expect the first big portion of Peruvian fruit to
arrive. In Mexico, March is when we see the shift start from the
normal crop to Marceña crop. Overall demand within Mexico is
higher this week due to Lent, which puts additional pressure on
domestic pricing as markets remain firm. California production
remains steady but should increase in April, the size curve is
leaning heavily to smaller-sized fruit, quality is excellent.
Bananas
ESCALATED: Banana availability is picking up, and so is the
quality. The weather is improving, and the issues in Europe are
increasing the supply as less fruit is being shipped there.
Grapes
ESCALATED: Weather in Chile is going perfectly for grapes
and has been for a few weeks, which is increasing the supplies
being imported into the U.S. Red Grape pricing continues to
be low with plenty of supply. Greens remain higher as fewer
supplies have been shipped.
Pineapples
ESCALATED: Pineapple availability continues to be okay.
The size profile is trending to size 5s. This is a result of great
growing conditions.
3
market trends
WEek ending March 25, 2022
Produce (continued)
Raspberries WEST COAST LETTUCE
We are seeing lower than expected volume due to faster down
Butter Lettuce
trends out of Mexico. Current volume should continue steadily
ESCALATED: The market is stronger, and quality is good, but
over the next couple of weeks and then up trend towards the
expect lighter supply from many shippers.
spring peak. Mexico will continue to be the largest contributor
over the next six weeks.
Green Leaf
ESCALATED: Quality in the desert is good and slightly lighter
Strawberries
in color and appearance with occasional fringe and windburn.
Overall volume remains steady for the next couple of weeks.
Sizing is 8-9” and markets are stronger, and demand
Volume out of Central Mexico and Florida will be decreasing
continues to increase as many are looking to green leaf as a
moving forward as they are prioritizing acreage with favorable
less expensive alternative to lettuce and romaine.
fruit quality. Oxnard is expected to slightly increase as they
have been receiving cooler weather which is expected to
Red Leaf
improve fruit size. Volume will be slowly increasing each week
Supply is lighter, but quality remains good. Demand is good,
going forward.
pricing is stronger.
CALIFORNIA CITRUS Romaine and Iceberg
Grapefruit EXTREME: Blister, peel, and fringe burn are still prevalent,
Ruby grapefruit now available. Size is peaking on 32s and along with many shippers hitting gaps in production as desert
larger fancy and all small sizes 36s and smaller are tight. Texas growing areas are changing. We are still expecting much
is expected to start very late. volatility in the marketplace as we head into the last portion of
the Yuma season.
Imports/Specialties
Bloods and Cara Caras are available in good supply.
Clementines are done. Murcotts / minneolas are available in
good supply.
Lemons
Are in full swing, quality has been good.
Limes
EXTREME/FORCE MAJEURE: Growers anticipated the lime
market to begin to decline at the end of March/beginning of
April. Unfortunately, product blooming on the trees is not sizing
up and becoming a challenge for growers. The lack of size is
a result of the inclement weather that Mexico has experienced
over the last six months. Sizing is dominated by smaller
sized fruit (230 counts), and 110/150 counts are practically
non-existent and is expected to trend toward smaller sized
fruit for the next 4-7 weeks. Higher pricing, especially on
larger-sized fruit, will likely remain during this timeframe. This
will impact all clients, and we may see distributor blended
costs.
Oranges
Availability on small sizes have decreased, still mostly fancy
grade, and pricing around the high teens.
4
market trends
WEek ending March 25, 2022
Produce (continued)
EASTERN & WESTERN VEGETABLES Eggplant (East)
Production remains limited but does not expect any issues.
Bell Peppers
We should see relatively smooth markets once we transition to
Drop in production out of Mexico coupled with inadequate
Central Florida in 2-3 weeks. Excellent supply crossing through
supplies out of Florida are forcing pricing on green bell peppers
Nogales and quality is very nice out of both regions. Transition
to react to a $20 FOB range from coast to coast. We should
to Coachella will be in early May.
see active markets for the foreseeable future. The red bell
market has firmed up this week.
French Beans
WATCHLIST: Volume remains stable, quality is strong, and
Cucumbers
prices are rising due to the lack of green beans.
ESCALATED: Markets have been active. We’re seeing a
gap in production out of Mexico due to colder than normal
Green Beans
temperatures. The supply should start improving in the next
WATCHLIST: Bean supply will remain mixed through the
few weeks. Florida is still another week to two away from
remainder of the Winter Florida crop due to weather related
heavier production. The demand has been strong.
pressure. We expect some improvement once we transition
to Central Florida over the next few weeks. In the west, supply
will continue to be below forecast through April. Overall quality
out of both locations is fair.
Jalapenos/Chili Peppers
Although a few new fields have started in south FL, yields have
been really light, and chili pepper supply is still very limited. At
this point, it looks to be a similar situation with limited volume
and varieties until mid-April when Plant City gets started in
earnest. FOBs are mostly steady on the available varieties.
Mini Sweet Peppers
Supply good loading in Nogales and quality very nice.
Pickles
Supply was lighter this week crossing through Nogales and
quality is very nice.
Zucchini/Yellow Squash
ESCALATED: We’re seeing volume drops out of Mexico
following cooler than normal weather. Florida is still struggling
with lower harvest numbers. The quality out of both regions
has been fair. We’re expecting to see improvements out
of both regions in the following few weeks as the weather
improves.
HERBS
Tarragon
TARRAGON is the only major herb that is having supply issues
this week. This shortage should continue for about 4-6 weeks,
but we are hopeful for less time.
5
market trends
WEek ending March 25, 2022
Produce (continued)
MELONS Honeydew
Honeydew production continues at moderate levels with
Cantaloupe (Hot Buy)
enough to satisfy contract business plus some open market
Strong volume continues with cantaloupe into all ports.
opportunities. We do not anticipate drastic changes to this
Sizing has shifted from being heavier to 12/15s last week to
pattern. Markets remain strong with larger fruit being in very
9/9Js followed by 12s. This is more conducive for the retail
good demand as arrivals lean more to 6/8s this week.
demand that is in place over the next few weeks with strong
promotions planned. We are beginning to see true Spring-time
Watermelon
characteristics with better shell color, sizing, and higher brix
Seedless watermelons (offshore crop) are gapping this week
levels.
and early next week out of Guatemala due to a high windstorm
two weeks ago that has impacted harvesting last week and
this week. We hope to be back on schedule by later next
week and ride out the rest of the month until our season
finishes. Mexican supply is drastically reduced and expected
to stay this way over the next few weeks.
MIXED VEGETABLES
Artichokes
Artichokes will have frost damage from recent weather
impacts, but supply is improving. This is not unusual for this
time of year as cold nighttime temperatures will affect the
artichokes still on the plants. Some of the frost areas will turn
brown over the next few days after packing creating some
additional discoloration as well.
Arugula
Quality is improving
Asparagus
The asparagus situation continues to worsen out of Mexico as
cool weather continues to slow growth. Cool weather is still in
the forecast through this week, so we will continue to see light
supply through the first week of March. On the positive side,
there is warm weather in the forecast for late next week, so we
are expecting supply to increase by mid-March.
Bok Choy
Supplies are still below normal volume but improving, quality is
good.
Broccoli/Broccoli Florets
Supply is good with very good quality.
Brussels Sprouts
Volume continues to be strong. Expect to see strong volume
and soft market for the next few weeks. Quality is very good.
6
market trends
WEek ending March 25, 2022
Produce (continued)
Carrots Cilantro
ESCALATED: With the carrot growing areas in California This is actually an ideal time for cilantro. Quality and supplies
moving to the Desert growing regions, we are seeing smaller are excellent, and with the cold weather behind us, Springtime
sizing, increasing pressure on Jumbo Carrot supplies that are is the best for quality and consistency.
already short in supply. In addition, Carrot sticks are packed
from jumbo carrot supplies, so the smaller sizing will affect Corn
carrot stick supplies. The supply forecast is for smaller sizing Demand and lighter production have driven prices up several
to continue throughout the desert growing season, and market dollars this week. We still anticipate a bumpy ride over the next
will remain strong few weeks as growers may see damage from the crop from
our last round of weather. We expect losses to impact the
Cauliflower markets for the remainder of the winter season. In the west,
ESCALATED: Quality is very good, although supplies are supply is stable crossing through Nogales and demand was
expected to remain lighter higher.
Celery Fennel
ESCALATED: Lighter supplies continue with light supplies, Supply remains extremely light.
market remains active.
Garlic
EXTREME: Domestic supply is also very tight. Shippers are
holding to averages, but we expect this volatile market to
continue through next summer.
Ginger
EXTREME: Ginger is very volatile due to inconsistent supply
and higher market. Supply remains tight for the foreseeable
future.
Green Cabbage
Post St Patrick’s day availability is stable in Florida and Texas.
In the west, weights are improving because of crop movement
although we are seeing cone shape heads for this week.
Green Onions
Good supplies with good quality.
Jicama
Steady supply available crossing through McAllen.
Kale (Green)
Supply is steady.
Mushrooms
EXTREME: Quality is good, although supply is extremely short,
and the market is higher primarily due to a lack of labor and
shortages in growing components such as peat moss. We
continue to see this ongoing trend and hope to see some
retreat this quarter.
7
market trends
WEek ending March 25, 2022
Produce (continued)
Napa Cabbage POTATOES
Volume and quality are both good, market continues to be
We saw Idaho carton availability tighten up a little this week
steady
with less availability on 60/70/80cts. The size profile is
becoming smaller and smaller as the season goes on, and
Parsely (Curly, Italian)
many sheds were looking to move volume on non-A sizes
Parsley supplies are expected to be steady this week.
and bales. We expect the already short crop to get more
challenging as we approach the summer months. We are
Rapini
encouraging our customers to plan their potato orders a week
Excellent supply this week and next.
in advance to make sure their coolers are stocked.
Red Cabbage
Supply is good out of Holtville. Quality remains consistent with
TOMATOES
sizing and overall appearance.
Markets out of Mexico and Florida are steady this week.
Snow Peas Adequate supplies and average demand are keeping the
Good volume, quality, and low demand. market pricing on rounds, romas, and grapes at minimums out
of Mexico. Quality has been strong, with minimal issues being
Sugar Snap Peas reported. We’re seeing lighter supplies out of Florida however;
Good volume, good quality, and low demand. the average demand is keeping the pricing in check for now.
Spinach (Bunched & Baby)
Supply and quality are good this week.
Spring Mix
Supply and quality are good.
Sweet Potatoes & Yams
New crop cured is in full swing with heavy shipments over the
holidays. Growing conditions were optimal for this year’s crop
out of North Carolina and Mississippi. Expect good supply with
a wide size variety.
ONIONS
Mexican onion crossings increased this week, and we are
seeing a good amount of volume on all sizes and colors
shipping out of the McAllen area. Prices settled down on new
crops to be more in line with prices out of the Northwest.
As the storage crop winds down, quality continues to be a
concern, with more and more people switching to the new
crop. Domestic new crop yellows are also available, with reds
expected to follow as soon as next week.
8
market trends
WEek ending march 25, 2022
Beef, Veal & Lamb
Last week, beef production declined 1.6% (w/w) but was up 0.9% (y/y). Year-to-date beef output is running 0.2% less than
a year ago. Last week, nearby CME live cattle futures were higher by 1.1% (w/w) and are down 3.2% over the last three
months. In its March WASDE report, the USDA raised its 2022 beef production forecast by 195k pounds but is still expected
to be 1.3% smaller than 2021. The continued weakness of the USDA Choice boxed-beef cutout is good news, but as the
spring grilling season approaches, the downside potential may be only modest. The retail CPI ground beef index during Feb-
ruary was 13.6% higher (y/y) and the third highest for any month on record. During the last 10 years, the 90% beef trim and
50% beef trim markets averaged (cumulative) 4.0% and 27.9% higher during Q2 compared to the average in the previous Q1.
The Average, USDA, FOB per pound.
Description Market Trend Supplies Price vs. Last Year
Live Cattle (Steer) Decreasing Steady Higher
Feeder Cattle Index (CME) Decreasing Steady Higher
Ground Beef 81/19 Decreasing Available Higher
Ground Chuck Decreasing Available Higher
109 Export Rib (ch) Decreasing Available Lower
109 Export Rib (pr) Decreasing Available Higher
112a Ribeye (ch) Increasing Available Lower
112a Ribeye (pr) Decreasing Available Higher
114a Chuck, Shlder Cld(ch) Decreasing Available Higher
116 Chuck (sel) Decreasing Available Lower
116 Chuck (ch) Decreasing Available Lower
116b Chuck Tender (ch) Increasing Available Higher
120 Brisket (ch) Increasing Available Higher
120a Brisket (ch) Increasing Steady-Available Higher
121c Outside Skirt (ch/sel) Increasing Steady-Short Lower
121d Inside Skirt (ch/sel) Decreasing Available Higher
121e Cap & Wedge Increasing Steady-Available Higher
167a Knckle, Trimmed (ch) Decreasing Available Higher
168 Inside Round (ch) Increasing Steady Higher
169 Top Round (ch) Decreasing Steady-Available Higher
171b Outside Round (ch) Decreasing Available Higher
174 Short Loin (ch 0x1) Increasing Steady-Available Lower
174 Short Loin (pr 2x3) Decreasing Available Higher
180 0x1 Strip (ch) Increasing Steady-Short Lower
180 0x1 Strip (pr) Decreasing Available Lower
184 Top Butt, boneless (ch) Increasing Steady-Available Higher
184 Top Butt, boneless (pr) Decreasing Steady Higher
184-3 Top Butt, bnls (ch) Increasing Steady-Available Higher
185a Sirloin Flap (ch) Increasing Steady Higher
185c Loin, Tri-Tip (ch) Decreasing Steady Higher
189a Tender (sel, 5 lb & up) Decreasing Available Higher
189a Tender (ch, 5 lb &up) Increasing Steady Higher
189a Tender (pr, heavy) Decreasing Available Higher
193 Flank Steak (ch) Decreasing Available Higher
50% Trimmings Increasing Steady Higher
65% Trimmings Increasing Available Higher
75% Trimmings Decreasing Available Lower
85% Trimmings Decreasing Steady Higher
90% Trimmings Increasing Short Higher
90% Imported Beef (frz) Decreasing Steady-Short Higher
95% Imported Beef (frz) Decreasing Short Higher
Live Cattle (Steer) Decreasing Steady Higher
Feeder Cattle Index (CME) Decreasing Steady Higher
9
market trends
WEek ending march 25, 2022
Grains
The grain markets had another rollercoaster of a week. Ceasefire talks between Russia and Ukraine were held throughout the
week but ultimately broke down and Wednesday’s WASDE report failed to provide enough fuel to the fire for the bulls. Out-
side of wheat, corn and soybean prices garnered some support from the USDA raising the U.S. 21/22 export forecast slightly
among other changes (covered in last Thursday’s CommodityOne). Along with the obvious impact to wheat, fertilizer exports
out of the Black Sea is another caveat that has kind of flown under the radar during this invasion. We’ve talked at length about
the situation in Brazil and the ever-shrinking soybean production outlooks for the country due to drought, but the country’s
reliance on imported fertilizer is another concern. Brazil and the U.S. import a significant amount of their nitrogen, phosphate,
and potash from Russia and Belaurs so fertilizer exports from these two countries could also support corn and soybean prices.
Prices USDA, FOB.
Description Market Trend Supplies Price vs. Last Year
Soybeans, bushel Increasing Short Higher
Crude Soybean Oil, lb Increasing Short Higher
Soybean Meal, ton Increasing Short Higher
Corn, bushel Increasing Short Higher
Crude Corn Oil, lb Steady Steady-Short Higher
High Fructose Corn Syrup Increasing Short Higher
Distillers Grain, Dry Increasing Short Higher
Crude Palm Oil, lb BMD Increasing Short Higher
HRW Wheat, bushel Decreasing Short Higher
DNS Wheat 14%, bushel Decreasing Steady-Short Higher
Durum Wheat, bushel Increasing Steady-Available Higher
Pinto Beans, lb Steady Steady Higher
Black Beans, lb Steady Steady-Available Higher
Rice, Long Grain, lb Increasing Short Higher
Dairy
Last week, the cheese block and barrel markets finished 6.9% and 5.5% higher (w/w), respectively. In its March WASDE report,
the USDA lowered its 2022 milk production forecast by 0.5% (or 1.2 billion pounds) and is projected to be 0.13% smaller than
2021. Tight cream supplies (due to less milk output) the past several months has boosted the butter market. CME spot butter
prices may have further upside potential to $2.960/lb. Class I Cream (hundredweight), from USDA.
Description Market Trend Supplies Price vs. Last Year
Cheese Barrels (CME) Increasing Short Higher
Cheese Blocks (CME) Increasing Short Higher
American Cheese Increasing Short Higher
Cheddar Cheese (40 lb) Increasing Short Higher
Mozzarella Cheese Increasing Short Higher
Monterey Jack Cheese Increasing Short Higher
Parmesan Cheese Increasing Short Higher
Butter (CME) Increasing Steady-Short Higher
Nonfat Dry Milk Decreasing Short Higher
Whey, Dry Decreasing Steady-Short Higher
Class 1 Base Steady Short Higher
Class II Cream, heavy Increasing Short Higher
Class III Milk (CME) Increasing Short Higher
Class IV Milk (CME) Increasing Short Higher
10market trends
WEek ending march 25, 2022
Pork
Last week, pork production was up 2.3% (w/w) but was 3.8% smaller than last year. Year-to-date pork output is running
down 7.5% (y/y). Last week, nearby CME lean hog futures were higher by 2.3% (w/w) and are up 19.5% in the last three
months. Last week, the weekly average USDA pork cutout was 2.4% lower (w/w) but up 8.0% (y/y). In its March WASDE
report, the USDA lowered its 2022 pork production estimate by 65k pounds and is projected to be down 1.3% from last
year. China purchases of U.S. pork continue to wane after record buys in 2020 when China experienced African swine fever
(ASF) challenges, which have improved. U.S. pork exports to Mexico, however, during January were a record for the month.
A higher seasonal price trend (soon) along with lackluster (y/y) pork production suggests the downside potential for the pork
markets is likely nominal. Prices USDA, FOB per pound.
Description Market Trend Supplies Price vs. Last Year
Live Hogs Decreasing Short Higher
Sow Increasing Short Higher
Belly (bacon) Decreasing Steady Higher
Sparerib(4.25 lb & down) Increasing Short Higher
Ham (20-23 lb) Decreasing Short Lower
Ham (23-27 lb) Decreasing Steady-Short Lower
Loin (bone in) Decreasing Steady Higher
Babyback Rib (1.75 lb & up) Increasing Steady-Short Higher
Tenderloin (1.25 lb) Decreasing Steady-Available Higher
Boston Butt, untrmd (4-8 lb) Decreasing Steady-Short Higher
Picnic, untrmd Decreasing Available Lower
SS Picnic, smoker trm box Decreasing Available Lower
42% Trimmings Decreasing Short Higher
72% Trimmings Increasing Steady Lower
11market trends
WEek ending march 25, 2022
Poultry
For the week ending March 5, chicken slaughter was 0.65% larger (w/w) and the average bird weight was down 0.2% (y/y). In its
March WASDE report, the USDA raised its 2022 chicken production forecast by 260k pounds and is estimated to be 0.7% more
than 2021. Maybe this year’s biggest story has been the persistent and record price increases for boneless skinless chicken
breasts. Despite rising feed costs for chicken producers, the high chicken breast prices should continue to encourage production
levels. The abnormal price premium of $0.500 of chicken breasts over wings hints that higher breast prices should slow.
However, the quarterly pivot model for chicken breasts suggests upside potential to $3.040/lb. before the end of the month.
FOB per pound except when noted.
Description Market Trend Supplies Price vs. Last Year
Whole Birds WOG-Nat Steady Steady 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) Steady Short Higher
Legs (whole) Increasing Steady-Short Higher
Leg Quarter Index (ARA) Decreasing Steady Lower
Thighs, Bone In Decreasing Steady Higher
Thighs, Boneless Increasing Steady-Available Higher
Description Market Trend Supplies Price vs. Last Year
Whole Turkey (8-16 lb) Steady Steady-Short Higher
Turkey Breast, Bnls/Sknls Steady Short Higher
Eggs
Description Market Trend Supplies Price vs. Last Year
Large Eggs (dozen) Steady Steady-Short Higher
Medium Eggs (dozen) Steady Short Higher
Liquid Whole Eggs Steady Short Higher
Liquid Egg Whites Steady Short Lower
Liquid Egg Yolks Steady Available Higher
Egg Breaker Stock Central Decreasing Short Higher
12market trends
WEek ending march 25, 2022
Seafood
Next Monday we’ll have updated seafood prices but expect the seafood markets to remain firm with snow crabs being one
of the main focuses. Alaska’s catch limit of 5.6 million pounds announced back in October 2021, an 88% decline from the
previous season, and a possible ban on Russian seafood imports has turned everyone’s attention to Canada. Warmer tem-
peratures in the Bering Sea have reduced the crab population there, so Canada’s North Atlantic and Labrador Sea harvests
will be paramount to the industry. Canada’s Department of Fisheries and Oceans has already indicated the country’s snow
crab quota could increase by as much as 37% to 33,000 MT for the 2022 season, which could hopefully quell the high prices
U.S. consumers are seeing now. So, expect snow crab prices to remain elevated until the industry gets some good news,
hopefully in the form on an increased catch limit out of Canada. Prices FAS monthly imports.
Description Market Trend Supplies Price vs. Last Year
Shrimp (16/20 frz) Steady Short Higher
Shrimp (61/70 frz) Steady Available Lower
Shrimp Tiger (26/30 frz) Steady Short Higher
Snow Crab, frz Steady Short Higher
Tilapia Filet, frz Steady Short Higher
Cod Filet, frz Steady Short Higher
Tuna Yellowfin, frsh Steady Available Lower
Salmon Atlantic Filet, frsh Steady Steady Higher
Pollock Filet, Alaska, frz Steady Short Higher
13market trends
WEek ending march 25, 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 Steady Higher
PLASTIC RESINS (PLASTIC, FOAM)
PS-CHH-utensils, cups, to-go cont. Steady Short Higher
PP-HIGP-heavy grade utensils Steady Steady Lower
PE-LLD-can liners, film, bags Steady Available Higher
Retail Price Change from Prior Month
Description Feb-22 Jan-22 Dec-21
Beef and Veal Increasing Increasing Increasing
Dairy Increasing Decreasing Increasing
Pork Increasing Increasing Increasing
Chicken Increasing Increasing Increasing
Fresh Fish and Seafood Decreasing Decreasing Increasing
Fresh Fruits and Veg. Increasing Increasing Increasing
Various Markets
The softs markets finished mostly lower last week (w/w), with Arabica coffee leading the way. However cocoa prices were up
modestly (w/w) as news of a potential global cocoa deficit supported prices. Firm sugar prices are being supported by rising
crude oil prices as strong ethanol margins pull Brazilian sugar out of the food industry (consumption). In Wednesday’s WASDE,
the USDA made several changes to the U.S. sugar balance sheet that ultimately led to a 7% decrease in 21/22 ending stocks
and stocks to use ratio, which could lend futher support to sugar prices. Expect sugar prices to continue upward as long as
crude oil prices keep ethanol margins high and squeeze Brazil’s sugar exports. 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 Available Higher
Sugar lb ICE Increasing Short Higher
Cocoa mt ICE Steady Steady Higher
Orange Juice lb ICE Increasing Short Higher
Honey (clover) lb Steady Short Higher
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