August 15, 2022 Market Report
Alerts & What’s Trending
Potato supply continues to be dire. All regions are seeing demand outpacing supply.
Canola Oil looks good with great weather in Canada. The EPA has recently announced biofuel rebates and renewable manufacturers are stepping up to buy. Soybean has continued higher, with continue hot weather. The crop has been downgraded for the next 6 weeks.
Cheese markets have fallen throughout June and July. Production is building but stocks are weaker. Butter markets are firm. Egg markets are expected to fall in the coming weeks with plenty of supply and a flat demand.
Ribs continue to be steady. Strips continue to show strong demand. End cuts continue to be steady.
Bellies are high but expected to ease. Tight supplies and labor are causing an upwind spin on loins. Ribs are trending upwards as Labor Day approaches. Spareribs dropped sharply as demand has decreased. The high but prices from the summer are starting to come down.
Chicken wings are approaching a 10-year low for pricing. Large wings are being constricted as we head into football season. The random breast market has dropped this week. Prices remain high for tenders.
IQF tilapia are seeing shortages due to shipping delays, labor issues and lack of containers.