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

Transcription

1 Beef, Veal and Lamb Report Beef, Veal & Lamb- Beef output last week fell.5% but was.7% larger than a year ago. The USDA is projecting spring output to be down 2.6% from '12. Most beef markets are trending higher with better weather and demand but the upside price risk from here for many beef cuts is likely limited. Beef exports struggled in Mar falling 4.6% from the previous year while beef imports were solid during the month. Consequently, the US was a net importer of beef in Mar adding 1.5% of production to the total supply. Favorable currency valuations could cause this trend to persist which would likely weigh on lean beef trim prices. Price USDA, FOB per pound. Live Cattle (Steer) Increasing Good Higher Ground Beef 81/19 Increasing Good Lower Ground Chuck Decreasing Good Lower 109 Export Rib (choice) Increasing Good Higher 109 Export Rib (prime) Increasing Good Lower 112a Ribeye (choice) Increasing Good Higher 112a Ribeye (prime) Increasing Good Lower 116 Chuck (choice) Increasing Good Higher 120 Brisket (choice) Increasing Good Higher 121c Outside Skirt (ch/sel.) Decreasing Good Lower 167a Knckle, Trimmed (choice) Increasing Good Lower 168 Inside Round (choice) Increasing Good Higher 174 Short Loin (choice 0x1) Increasing Good Higher 174 Short Loin (prime 2x3) Increasing Good Lower 180 1x1 Strip (choice) Steady Good Lower 180 1x1 Strip (prime) Increasing Good Lower 180 0x1 Strip (choice) Increasing Good Higher 184 Top Butt, boneless (choice) Increasing Good Lower 184 Top Butt, boneless (prime) Increasing Good Higher 185a Sirloin Flap (choice) Increasing Good Higher 185c Loin, Tri-Tip (choice) Increasing Good Higher 189a Tender (select, 5 lb & up) Decreasing Good Lower 189a Tender (choice, 5 lb &up) Increasing Good Higher 189a Tender (prime, heavy) Decreasing Good Lower 193 Flank Steak (choice) Increasing Good Higher 50% Trimmings Decreasing Good Higher 65% Trimmings Decreasing Good Higher 75% Trimmings Steady Good Lower 85% Trimmings Decreasing Good Lower 90% Trimmings Decreasing Good Lower

2 90% Imported Beef (frozen) Decreasing Good Lower Veal Rack (Hotel 7 rib) Steady Good Higher Veal Top Round (cap off) Steady Good Higher Oil and Grains Report Oil & Grains- Better weather in the coming weeks should encourage corn, soybean and spring wheat plantings. Still, fairly inflated grain prices may persist into the summer. Soybeans Decreasing Good Higher Crude Soybean Oil Increasing Good Lower Soymeal Decreasing Good Higher Corn Decreasing Good Higher Crude Corn Oil Decreasing Good Lower Distillers Grain, Dry Increasing Good Higher Crude Palm Oil Increasing Good Lower Hard Red Winter Wheat Decreasing Good Higher Dark Northern Spring Wheat Decreasing Good Higher High Fructose Corn Syrup Decreasing Good Higher Durum Wheat Increasing Good Higher

3 Dairy Report Dairy- The CME cheese block market remains historically inflated. The premium in CME cheese blocks versus barrels has been unusually large. History shows that this pricing relationship is unsustainable typically resulting in lower cheese block prices. Mar U.S. cheese exports were 5.3% more than a year ago and the second largest on record. The CME butter market remains soft. U.S. butter exports during Mar were up 5% compared to last year and the largest since May '12. Seasonal price trends suggest that modestly higher butter prices may be pending in the coming weeks. Cheese Barrels- CME Increasing Good Higher Cheese 40 lb Blocks- CME Decreasing Good Higher American Cheese Decreasing Good Higher Cheddar Cheese Increasing Good Higher Mozzarella Cheese Increasing Good Higher Provolone Cheese Increasing Good Higher Parmesan Cheese Increasing Good Higher Butter- One lb Solids Decreasing Good Higher Nonfat Dry Milk Increasing Good Higher Whey, Dry Increasing Good Higher Class I Milk Base Steady Good Higher Class II Cream (Heavy Cream) Decreasing Good Higher Class III Milk- CME Decreasing Good Higher Class IV Milk- CME Steady Good Higher

4 Pork Report Pork- Pork output last week fell 2.3% but was.6% more than a year ago. Lighter pork production this week could support the pork markets in the near term. Mar U.S. pork exports were 22.5% less than a year ago and the smallest since Jul '11. Pork exports to China and Russia in Mar were down 68.2% versus '12 as import trade restrictions from these countries were still in effect. Last year, China and Russia accounted for 17% of total U.S. pork exports. Seasonal pork price increases this spring could be tempered due to export challenges. Live Hogs Increasing Good Higher Belly (bacon) Steady Good Higher Spare Rib (4.25 & down) Increasing Good Higher Ham (23-27 lb) Decreasing Good Higher Loin (bone-in) Increasing Good Lower Baby Back Rib (1.75 & up) Increasing Good Lower Tenderloin (1.25 lb) Increasing Good Lower Boston Butt, untrimmed 4-8 lb. Increasing Good Lower Picnic, untrimmed Increasing Good Higher SS Picnic, smoker trim boxed Decreasing Good Lower 42% Trimmings Increasing Good Lower 72% Trimmings Increasing Good Lower

5 Canned Tomato Report Tomato Products, Canned- The CA tomato for processing harvest will get underway in two months. Canned tomato prices are projected to remain steady. Whole Peeled Standard Steady Good Same Diced, Fancy Steady Good Same Ketchup, 33% Steady Good Same Tomato Paste- Ind. Steady Good Same Poultry Report Poultry- Chicken production has been tracking flat to 1% above year ago levels in recent weeks. Tempered broiler egg set numbers suggest that this trend could persist during May. The USDA is estimating spring U.S. chicken production to be 1.8% bigger than '12. Better margins for chicken producers are anticipated to lead to larger chicken output gains later this year. The chicken breast markets remain firm with the ARA weekly boneless skinless chicken breast index reaching its highest level last week since Aug '04. History suggests that relatively inflated chicken breast prices should persist deep into the summer. Still, any further gains in chicken breast prices may be only modest at best. The chicken wing markets are moving lower. Whole Chicken (2.5-3 lb-ga) Increasing Good Higher Chicken Wings, Whole Decreasing Good Lower Chicken Wings, Jumbo Cut Steady Good Lower Chicken Breast, Bone-In Increasing Good Higher Chicken Breast, Bnless Sknless Increasing Good Higher Chicken Tender (random) Decreasing Good Higher Chicken Tender (sized) Decreasing Good Lower Chicken Legs (whole) Increasing Good Lower Chicken Leg Quarters Steady Good Higher Chicken Thighs, bone in Decreasing Good Lower

6 Chicken Thighs, boneless Increasing Good Higher Large Eggs Steady Good Higher Medium Eggs Steady Good Higher Whole Eggs- Liq Increasing Good Higher Egg Whites- Liq Increasing Good Higher Egg Yolks- Liq Decreasing Good Lower Whole Turkey (8-16 lb) Steady Good Lower Turkey Breast- Bnls/Sknls Increasing Good Lower Seafood Report Seafood- U.S. salmon supplies remain solid. Mar U.S. salmon imports were 26.8% more than the prior year. Year-to-date through Mar salmon imports were 63% lager versus '12. Since '08, the average move for the salmon portions market over the next five weeks is 2.7% lower. Mar U.S. total shrimp imports were 5.5% less than last year while shell-on imports were down 7.7%. Shrimp prices usually move modestly higher towards the end of the month. The snow crab markets have fallen in recent weeks. Salmon, Whole (10-12 lb) Steady Good Same Catfish, Filets Steady Good Lower Trout, Drn. (8-14 oz) Steady Good Same Shrimp (16-20 count) Decreasing Good Higher Shrimp (61-70 count) Decreasing Good Higher Shrimp, Tiger (26-30 count) Increasing Good Higher Snow Crab Legs (5-8 oz) Steady Good Lower Snow Crab Legs (8 oz up) Steady Good Higher Cod Tails, 3-7 oz. Frz. Steady Good Lower Cod Loins, 3-12 oz. Frz. Steady Good Lower Salmon Portions, 4-8 oz. Frz. Steady Good Lower

7 Bean, Rice, Coffee and Sugar Report Pinto Beans Steady Good Lower Black Beans Steady Good Lower Rice, Long Grain Steady Good Higher Coffee Beans Increasing Good Lower Sugar Increasing Good Lower Honey Steady Good Higher Paper Product Report Wood Pulp (paper) NBSK- Paper napkin Increasing Good Higher 42 lb. Linerboard-corrugated box Decreasing Good Higher Plastic Resins (plastic, foam) PS-CHH-utensils, cups, to-go cont. Steady Good Higher PP-HIGP-heavy grade utensils Decreasing Good Lower PE-LLD-can liners, film, bags Steady Good Lower Retail Price Change from Prior Month Apr-11 Mar-11 Feb-11 Beef and Veal Increasing Increasing Increasing Dairy Increasing Increasing Increasing Pork Decreasing Increasing Increasing Chicken Increasing Decreasing Increasing Fresh Fish and Seafood Increasing Increasing Increasing Fresh Fruits and Vegetables Decreasing Increasing Increasing

8 Processed Fruits and Vegetables Report Processed Fruits and Vegetables- Due to weather challenges vegetable for processing planting remains behind schedule. The processed vegetable markets are likely to remain steady to firm. Canned 6/10 Corn, Fancy Whole Kernel Steady Good Higher Green Beans, Fancy 4 sv Steady Good Higher Green Peas, Fancy 4 sv/blend Steady Good Higher Frozen Corn, Cob 96 count Steady Good Higher Corn, Kernel 12/2.5 lb. Steady Good Higher Green Beans, Cut 12/2 lb. Steady Good Higher Green Peas, 12/2.5 lb. Steady Good Higher Potatoes, FF Fancy, 6/5 lb. Steady Good Higher Produce Report Produce- Tomato prices are firm. U.S. tomato supplies have tightened due in part weather challenges impacting FL crops. FL tomato shipments last week were down 5.8% from the prior week. Still, tomato supplies should improve later this month when new FL tomato harvests get underway. The potato markets are moving higher. U.S. potato stocks tend to fall as the summer nears. History points to nominal downside price risk for potatoes from current levels. Iceberg lettuce supplies are solid and prices are below '12 levels. Iceberg lettuce prices are usually steady during May.

9 Limes (150 count) Steady Good Higher Lemons (95 count) Increasing Good Lower Lemons (200 count) Steady Good Lower Honeydew (6 ct.) Decreasing Good Higher Cantaloupe (15 count) Decreasing Good Lower Blueberries (12 count) Increasing Good Lower Strawberries (12 pints) Increasing Good Lower Avocados, Hass (48 count) Decreasing Good Lower Bananas (40 lb)-term. Decreasing Good Higher Pineapple (7 ct.)- Term. Increasing Good Higher Idaho Potato (60 count) Steady Good Lower Idaho Potato (70 count) Steady Good Lower Idaho Potato (70 count)-term. Increasing Good Lower Idaho Potato (90 count) Steady Good Lower Idaho Potato #2 (6 oz. min.) Decreasing Good Lower Processing Potato (100 lb) Steady Good Lower Yellow Onions (50 lb) Increasing Good Higher Yellow Onions (50 lb)-term. Increasing Good Higher Red Onions (25 lb)-term. Decreasing Good Higher White Onions (50 lb)-term. Increasing Good Lower Tomatoes, (large- case) Steady Good Higher Tomatoes, (5x6, 25 lb.)-term. Increasing Good Higher Tomatoes, Vine Ripe, (4x5) Increasing Good Higher Roma Tomatoes (large- case) Decreasing Good Higher Roma Tomatoes (xlarge- case) Increasing Good Higher Green Peppers (large- case) Steady Good Lower Red Peppers (large- 15 lb. cs.) Increasing Good Higher Iceberg Lettuce (24 count) Increasing Good Lower Iceberg Lettuce (24 cnt)-term. Decreasing Good Lower Produce Report (continued) Leaf Lettuce (24 count) Increasing Good Lower Romaine Lettuce (24 count) Decreasing Good Lower Mesculin Mix (3 lb)-term. Increasing Good Lower Broccoli (14 cnt.) Decreasing Good Lower Squash (case) Steady Good Higher Zucchini (case) Increasing Good Higher Green Beans (bushel) Steady Good Higher Spinach, Flat 24's Decreasing Good Higher Mushrooms (large), Term. Decreasing Good Lower Cucumbers, Bushel Increasing Good Higher Pickles ( ct.)-term. Decreasing Good Higher Asparagus (small) Steady Good Higher Freight (CA to City Avg.) Decreasing Good Higher