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Produce
Adverse weather patterns and seasonal decreases in Mexico, Guatemala, and the U.S. continue to affect these growing regions. Consequently, extended periods of higher market prices and potential shortages in supply are expected. Growers are persisting through the heat by adjusting their harvesting schedules to earlier in the day to ensure a steady supply. The inland valley is facing weather-related challenges due to the high temperatures.
Grains
Soybean oil moved down last week, albeit, very little, with increased supply reported and very good crop conditions being reported. Canola moved higher last week as European rapeseed is struggling with drought and Canadian oil is more in demand. Palm exports have increased, but so has palm production.
Dairy
Shell egg markets are up this week. California and Northwest markets are up. Farm in Colorado was identified as HPAI positive over the weekend with an expected loss of approximately 1.3 million birds at least primarily cage free. The Block & Barrel are increasing. Butter is down.
Beef
The dog days of summer are here, and packers cannot seem to get out from under growing inventories and stagnant demand. Tenders, ribs, and strips continue to challenge packers. Meanwhile chucks and rounds for the most part are holding value due to lean trim shorts and demand from consumers for affordable ground beef.
Pork
Butts market continue to decline. Loins are steady. Loins are steady for B/I. Ribs overall continue to dive downward as supply has increased. The belly market is still unsettled but may be leveling out. The bottom has fallen out of trimmings, supply is getting tighter and 72’s & 42’s continued to increase significantly on the week.
Poultry
Chicken Wings have started to loosen up on the open market, especially in the small size. Tenders continue to be mostly steady. Jumbo and medium breasts were mostly even. Small breasts are seeing some excess supply. Dark meat demand remains very good. Whole birds are mostly balanced.
Seafood
Wild salmon season is in full swing and domestic shrimp has been at great value all year with steady prices. Wild domestic shrimp and wild domestic salmon are great additions to summer menus that customers look for. Be sure and check out all that Portico fish and shrimp offer in Wild and Domestic selections!
