August 8, 2022 Market Report
Alerts & What’s Trending
The main country of origin for avocados continues to be Mexico. California is seeing decreased volume. Lemons are seeing tighter supply on good quality. Fingerling potatoes are seeing a limited supply for the next 4-5 weeks. Limited supplies on cilantro and parsley are being reported due to high heat in growing regions.
Both canola and soybean are moving higher. Palm prices are moving higher as Chinese demand increases. The very hot and dry weather is causing soybean oil futures to move higher. Adding demand to the market are biodiesel and rebates which the EPA has recently announced.
Cream prices have moved up along with the butter market. There is good demand and flat supply causing egg market to move down. Tight stocks are causing the butter market to move higher. Cheese markets have moved lower with an increase of supply.
Consumers are searching for lower price points by searching out end cuts. Costs are being pushed down for tenders which are in good supply. Strips are holding a firm demand and price. Overall markets are steady going into the month of August.
Increased demand for bellies are moving them back up. Supply and demand for ribs are leveled off. They are down slightly. Retail demand has caused loins to rise. Unusual highs has caused the butt market to decline.
Prices and availability are tight and high for tenders. The random breast market is expected to drop this week. Supplies are ample for wings hitting a 10 year low on pricing. Wings of all sizes are readily available. Overall excess supply has hit the market.
Domestic gulf shrimp is in season. Compared to last year, supply has drastically improved. There is great value in promoting for summer specials.