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1 Beef, Veal and Lamb Report Beef, Veal & Lamb- Beef output last week declined 2% and was 4.8% less than the same week a year ago. Cattle slaughter was the smallest in five weeks. Tight cattle supplies are expected to limit beef production for the foreseeable future. The USDA is forecasting spring U.S. beef output to be 3.8% less than the previous year. The beef markets have continued to soften during the last week. However, holiday shortened output this week and next along with building grill season demand are expected to bring support to the beef markets soon. Still, inflated retail beef prices may temper overall sales. Retail beef prices during March were 7.4% higher than last year and a record. Price USDA, FOB per pound. Live Cattle (Steer) Steady Good Higher Ground Beef 81/19 Decreasing Good Higher Ground Chuck Decreasing Good 109 Export Rib (choice) Increasing Good Higher Higher 109 Export Rib (prime) Decreasing Good Higher 112a Ribeye (choice) Decreasing Good Higher 112a Ribeye (prime) Increasing Good Higher 116 Chuck (choice) Decreasing Good Higher 120 Brisket (choice) Decreasing Good Higher 121c Outside Skirt (ch/sel.) Decreasing Good Higher 167a Knckle, Trimmed (choice) Decreasing Good Higher 168 Inside Round (choice) Decreasing Good Higher 174 Short Loin (choice 0x1) Decreasing Good Higher 174 Short Loin (prime 2x3) Decreasing Good Higher 180 1x1 Strip (choice) Increasing Good Higher 180 1x1 Strip (prime) Increasing Good Higher 180 0x1 Strip (choice) Decreasing Good Higher 184 Top Butt, boneless (choice) Increasing Good Higher 184 Top Butt, boneless (prime) Decreasing Good Higher 185a Sirloin Flap (choice) Increasing Good Higher 185c Loin, Tri-Tip (choice) Decreasing Good Higher 189a Tender (select, 5 lb & up) Decreasing Good Higher 189a Tender (choice, 5 lb &up) Decreasing Good Higher 189a Tender (prime, heavy) Increasing Good Higher 193 Flank Steak (choice) Increasing Good Higher 50% Trimmings Decreasing Good Higher 65% Trimmings Decreasing Good Higher 75% Trimmings Decreasing Good Higher 85% Trimmings Decreasing Good Higher 90% Trimmings Decreasing Good Higher 90% Imported Beef (frozen) Decreasing Good Higher

2 Veal Rack (Hotel 7 rib) Increasing Good Same Veal Top Round (cap off) Increasing Good Higher Oil and Grains Report Oil & Grains- Oil, Grains, Misc- Initial U.S. winter wheat crop ratings are matching the worst levels in the last twelve years. Wheat prices could be especially volatile this spring. Prices USDA, FOB. Soybeans Increasing Good Higher Crude Soybean Oil Increasing Good Lower Soymeal Increasing Good Higher Corn Increasing Good Lower Crude Corn Oil Steady Good Lower Distillers Grain, Dry Decreasing Good Lower Crude Palm Oil Increasing Good Higher Hard Red Winter Wheat Increasing Good Higher Dark Northern Spring Wheat Increasing Good Lower High Fructose Corn Syrup Increasing Good Lower Durum Wheat Increasing Good Lower

3 Dairy Report Dairy- The international dairy markets continue to soften. At the latest Fonterra Global Dairy Trade (GDT) event this week, the dairy index fell 2.6% to its lowest level in over a year. GDT butter, cheese, whole milk powder and skim milk powder fell to four, seven, thirteen and fourteen month lows respectively. U.S. butter export demand has declined as a result helping influence the CME butter market downward. Further butter prices declines are anticipated in the coming weeks. CME cheese prices are softening as well. Modestly lower cheese prices are anticipated in May. Prices per pound, except Class I Cream (hundred weight), from USDA. Cheese Barrels- CME Increasing Good Higher Cheese 40 lb Blocks- CME Decreasing Good Higher American Cheese Decreasing Good Higher Cheddar Cheese Decreasing Good Higher Mozzarella Cheese Decreasing Good Higher Provolone Cheese Decreasing Good Higher Parmesan Cheese Decreasing Good Higher Butter- One lb Solids Decreasing Good Higher Nonfat Dry Milk Decreasing Good Higher Whey, Dry Increasing Good Higher Class I Milk Base Steady Good Higher Class II Cream (Heavy Cream) Increasing Good Higher Class III Milk- CME Increasing Good Higher Class IV Milk- CME Decreasing Good Higher

4 Pork Report Pork - Pork output last week declined.4% but was.2% larger than the same week a year ago. Pork production continues to be helped by heavier hog weights which last week were up 2.9% versus Still, limited hog supplies due to PEDv are projected to persist which will be a detriment to pork output moving forward. The USDA is forecasting pork production during the next six months to be 2.3% below Inflated pork prices may persevere. Prices USDA, FOB per pound. Live Hogs Decreasing Good Higher Belly (bacon) Decreasing Good Higher Spare Rib (4.25 & down) Decreasing Good Higher Ham (23-27 lb) Decreasing Good Higher Loin (bone-in) Decreasing Good Higher Baby Back Rib (1.75 & up) Decreasing Good Higher Tenderloin (1.25 lb) Decreasing Good Higher Boston Butt, untrimmed 4-8 lb. Decreasing Good Higher Picnic, untrimmed Decreasing Good Higher SS Picnic, smoker trim boxed Increasing Good Higher 42% Trimmings Decreasing Good Higher 72% Trimmings Decreasing Good Higher

5 Canned Tomato Report Tomato Products,Canned- The Midwestern tomato for processing planting season remains behind due to unseasonably cold ground temperatures. The processed tomato markets are firm. Prices per case (6/10) FOB, unless noted from ARA. Whole Peeled Standard Steady Good Same Diced, Fancy Steady Good Same Ketchup, 33% Steady Good Same Tomato Paste- Ind. Steady Good Same

6 Poultry Report Poultry-Chicken production for the week ending April 5th rose 7.3% and was 1.5% larger than the same week a year ago. Modest chicken output expansion versus 2013 is expected in the coming months due to better margins for chicken producers. The USDA is projecting second and third quarter chicken production to be 2.1% bigger than the previous year. However, solid demand could propel chicken producers to expand chicken output even stronger. Retail chicken prices, although historically inflated, are historically undervalued versus the protein complex especially beef. The chicken breast markets continue to firm. The five year average move for the weekly ARA Boneless Skinless Chicken Breast Index is 11% higher during the next four weeks before this index peaks for the year. Prices USDA, FOB per pound except when noted. Whole Chicken (2.5-3 lb-ga) Increasing Good Higher Chicken Wings, Whole Decreasing Good Lower Chicken Wings, Jumbo Cut Decreasing Good Lower Chicken Breast, Bone-In Increasing Good Same Chicken Breast, Bnless Sknless Decreasing Good Higher Chicken Tender (random) Steady Good Higher Chicken Tender (sized) Steady Good Higher Chicken Legs (whole) Steady Good Lower Chicken Leg Quarters Steady Good Lower Chicken Thighs, bone in Decreasing Good Lower Chicken Thighs, boneless Decreasing Good Lower Large Eggs Decreasing Good Higher Medium Eggs Steady Good Higher Whole Eggs- Liq Increasing Good Higher Egg Whites- Liq Increasing Good Higher Egg Yolks- Liq Increasing Good Lower Whole Turkey (8-16 lb) Increasing Good Higher Turkey Breast- Bnls/Sknls Increasing Good Higher

7 Seafood Report Seafood - The Newfoundland snow crab fishing season commenced on April 7th. The Newfoundland snow crab quota this year at 51,582 metric tons is 1.4% less than 2013 and the smallest in the last five years. Further, snow crab dock prices for Newfoundland fishermen have risen 26%. Relatively elevated snow crab leg prices are expected to persevere. Prices for fresh product, unless noted, per pound from Fisheries Market News. Salmon, Whole (10-12 lb) n/a Good n/a Catfish, Filets n/a Good n/a Trout, Drn. (8-14 oz) n/a Good n/a Shrimp (16-20 count) Decreasing Good Higher Shrimp (61-70 count) Steady Good Higher Shrimp, Tiger (26-30 count) Decreasing Good Higher Snow Crab Legs (5-8 oz) Steady Good Higher Snow Crab Legs (8 oz up) Steady Good Lower Cod Tails, 3-7 oz. Frz. Steady Good Lower Cod Loins, 3-12 oz. Frz. Steady Good Lower Salmon Portions, 4-8 oz. Frz. Increasing Good Higher

8 Bean, Rice, Coffee and Sugar Report Pinto Beans Decreasing Good Lower Black Beans Steady Good Higher Rice, Long Grain Steady Good Same Coffee Beans Decreasing Good Higher Sugar Decreasing Good Higher Honey Decreasing Good Higher Paper Product Report Wood Pulp (paper) NBSK- Paper napkin Increasing Good Higher 42 lb. Linerboard-corrugated box Increasing Good Higher Plastic Resins (plastic, foam) PS-CHH-utensils, cups, to-go cont. Steady Good Higher PP-HIGP-heavy grade utensils Decreasing Good Higher PE-LLD-can liners, film, bags Steady Good Higher Retail Price Change from Prior Month Mar-14 Feb-14 Jan-14 Beef and Veal Increasing Increasing Decreasing Dairy Increasing Increasing Increasing Pork Increasing Increasing Increasing Chicken Increasing Decreasing Decreasing Fresh Fish and Seafood Decreasing Increasing Increasing Fresh Fruits and Vegetables Increasing Increasing Decreasing

9 Processed Fruits and Vegetables Report Processed Fruits and Vegetables- The Midwestern vegetable for processing planting season remains behind due to unseasonably cold ground temperatures. The processed vegetable markets are firm. Prices per case (6/10) FOB, unless noted from ARA. Canned 6/10 Corn, Fancy Whole Kernel Steady Good Same Green Beans, Fancy 4 sv Steady Good Same Green Peas, Fancy 4 sv/blend Steady Good Same Frozen Corn, Cob 96 count Steady Good Same Corn, Kernel 12/2.5 lb. Steady Good Same Green Beans, Cut 12/2 lb. Steady Good Same Green Peas, 12/2.5 lb. Steady Good Same Potatoes, FF Fancy, 6/5 lb. Steady Good Same

10 Produce Report Produce- The lettuce markets have firmed during the last week as the chief harvest area shifts to the Salinas region of California. Iceberg lettuce shipments last week declined modestly from the previous week and were 4% less than the prior year. The lettuce markets could remain supported in the near term. Tomato supplies are improving in the east with shipments from Florida last week rising 12%. Favorable weather and good growing conditions could cause further modest declines in the tomato markets in the coming weeks. Idaho potato prices should move upward this spring. Prices USDA FOB shipping point unless noted (terminal). Limes (150 count) Increasing Good Higher Lemons (95 count) Steady Good Higher Lemons (200 count) Increasing Good Higher Honeydew (6 ct.) Decreasing Good Lower Cantaloupe (15 count) Steady Good Higher Blueberries (12 count) Increasing Good Higher Strawberries (12 pints) Increasing Good Higher Avocados, Hass (48 count) Decreasing Good Higher Bananas (40 lb)-term. Decreasing Good Higher Pineapple (7 ct.)- Term. Increasing Good Lower Idaho Potato (60 count) Increasing Good Higher Idaho Potato (70 count) Increasing Good Higher Idaho Potato (70 count)-term. Increasing Good Higher Idaho Potato (90 count) Steady Good Higher Idaho Potato #2 (6 oz. min.) Steady Good Higher Processing Potato (100 lb) Steady Good Higher Yellow Onions (50 lb) Decreasing Good Higher Yellow Onions (50 lb)-term. Decreasing Good Higher Red Onions (25 lb)-term. Increasing Good Lower White Onions (50 lb)-term. Decreasing Good Lower Tomatoes, (large- case) Decreasing Good Higher Tomatoes, (5x6, 25 lb.)-term. Decreasing Good Lower Tomatoes, Vine Ripe, (4x5) Decreasing Good Higher

11 Roma Tomatoes (large- case) Decreasing Good Lower Roma Tomatoes (xlarge- case) Decreasing Good Lower Green Peppers (large- case) Decreasing Good Lower Red Peppers (large- 15 lb. cs.) Steady Good Higher Iceberg Lettuce (24 count) Increasing Good Lower Iceberg Lettuce (24 cnt)-term. Increasing Good Higher Produce Report (continued) Leaf Lettuce (24 count) Increasing Good Higher Romaine Lettuce (24 count) Decreasing Good Higher Mesculin Mix (3 lb)-term. Decreasing Good Higher Broccoli (14 cnt.) Increasing Good Higher Squash (case) Decreasing Good Same Zucchini (case) Decreasing Good Higher Green Beans (bushel) Decreasing Good Spinach, Flat 24 s Increasing Good Higher Higher Mushrooms (large), Term. Increasing Good Lower Cucumbers, Bushel Decreasing Good Lower Pickles ( ct.)-term. Decreasing Good Lower Asparagus (small) Steady Good Lower Freight (CA to City Avg.) Increasing Good Higher

Market Report provided by American Restaurant Associationwww.AmericanRestaurantAssociation.com-

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