December 4, 2023 Market Report

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The more favorable growing conditions combined with the lower demand after the holiday season helped most markets see a decline. However, demand is expected to pick up in the next two weeks and remain strong through the end of the year, which historically brings a slight uptick in markets. There have been minimal growing or harvesting disruptions in the Yuma, AZ, growing region. Supplies remain steady for most commodities. However, Broccolini supplies remain extremely limited and are expected to remain limited for the next 1-2 weeks. Demand has remained steady for all commodities.



Soybean oil prices declined last week as a result of an EPA court decision and a shortened trading period. Lower markets were helped by good rainfall in Brazil and a nearly full crop harvest in the United States. Although there was no movement in the canola oil market, canola seed futures saw a decrease. Concerns about El Nino and rising demand drove up palm prices.



Markets for shell eggs are closed this week. The market for barrel and block is shrinking. It’s butter time. The price of Cream and Culture on the West Coast will go up in December.



Now that Thanksgiving week is passed, consumers are entirely fixated on ribs and tenderloins. Up to the end of the year, consumers ought to support middle-cut meats. Short loins and strips are still valuable, which has supported increased transactions. Rounds and chucks keep getting softer. The best way to characterize grinds is as choppy, and at most steady, depending on the packer.



In the marketplace, there is some support for pork butts. There has been considerable strength in this sector due to an increase in demand for upfront purchases. There are still decreases in every other market. Because of the poor retail demand, ribs and boneless loins are declining in popularity. Bellies are predicted to keep getting smaller as they look for the floor.



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



Prices for Alaska Red King are steep, and supplies are scarce. According to reports, Peru only reopened its second anchovy season three days ago, yet there is still a shortage. Although the market for imported shrimp is currently at all-time lows, prices should soon start to rise again. With the holidays approaching, shellfish products should be used more frequently.

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