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Contact Info
351 N Frontage Rd, Ste A210
New London, CT 06320
sales@insidetrackdata.com
860-701-0576

December 11, 2023 Market Report

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Produce

Favorable growing conditions continue with overall lower demand, which has helped most markets see a decline. Demand is expected to pick up next week and remain strong through the end of the year, which historically brings a slight uptick in markets. We have seen steady demand and steady supplies for most commodities, except for celery. Growers will be finishing the Salinas Season and beginning in Oxnard. Growers have seen lighter celery supplies as an industry as the market continues to trend higher. The weather in the Yuma growing regions continues to be favorable. Growers have indicated they will be ready for the Christmas Holiday pulls in the coming weeks.

 

Grains

Biofuels and less demand caused last week’s movement in the energy markets downward. This contributed to the decline in the price of soybean oil. A portion of the drop in demand for biofuels was caused by increased use of Canola oil. With ample supply and decreased Chinese demand, palm oil prices remained stable.

 

Dairy

Markets for shell eggs are closed this week. Block markets are shrinking while the barrel market is marginally growing. It’s butter time. The prices for Cream and Culture in December will fluctuate somewhat.

 

Beef

Buyers’ attention is still focused on tenderloins and ribs as the holiday draws near. The price of middle-aged meat has been supported by demand. Shortloins and strips are nevertheless valuable, and increased trades have been supported by interest. Chucks and rounds keep getting softer as boxes begin to form and purchasers’ attention wanes. At best, grinds are constant and choppy since packers have different supplies.

 

Pork

The market for butts is slightly declining after unexpectedly increasing last week. Since boneless loins are comparatively flat, sideways trading should be expected over the coming weeks. Also trading sideways are ribs. Because they are still looking for the floor, bellies are rapidly decreasing. Demand is steady and trimmings are also trading sideways.

 

Poultry

During the height of the chicken industry’s growth season, larger birds with greater yields are the outcome. The breasts are beginning to contract. There are open tenders. Demand for wings of all sizes has somewhat decreased. The market for dark meat is still strong. The demand for whole birds is rising.

 

Seafood

The Texas Department of Parks & Wildlife has closed the Texas Gulf oyster beds, which will impact availability. Alaska Red King crab is available, albeit at a premium price. According to reports, Peru reopened its second anchovy season three days ago, although there is still a shortage. The market for shrimp imports is still struggling.