February 19, 2024 Market Report

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The persistent unfavorable weather conditions in different growing regions have led to a decrease in overall yields and an increase in quality issues and bloom loss. Consequently, market prices have remained higher and are anticipated to stay at this level for the upcoming weeks. The weather patterns continue to challenge quality and harvesting crews out of the desert growing regions of Arizona and California.



Last week, oil consumers took advantage of the lower markets and invested in soybean oil, which caused the markets to rise. Canola oil is flat since there is a good supply and soft exports of seeds. Palm is likewise flat; nevertheless, although we have been anticipating some supply problems due to their weather, nothing significant has happened as of yet.



Eggshell markets are rising, with the exception of the Northwest and flat mediums. Eggs from California are declining. Barrels are growing while blocks are shrinking. Butter remains down.



Rounds and chucks stay constant as long as supplies are traded. The lighter tones of ribs continue to warn purchasers. Strips show a mixed reflection because of product pockets, with CAB showing the greatest strength. Overall, tenders are still soft; the only grade that shows strength is Sel. As supply increase, grinds are topping out and should correct in the coming weeks.



Demand for butts is still high, but it should level down in the coming week or two. Bellies are dropping following a brief spike brought on by buy-ins that have since decreased. Although spareribs and backribs saw another increase in price, the market is expected to decline over the coming weeks.


The increased demand for wings and tenders has persisted even after the Super Bowl. The supply of breasts in greater sizes has somewhat decreased. The market is still thriving for dark meat. Mostly balanced whole birds.



Lent has begun. The season has been difficult for lobster tails, and there is a limited quantity. All sizes of cold-water lobster tails are seeing price increases due to difficult inventory circumstances. The Dungeness crab season is well underway, and new stock is already available from vendors.

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