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

Transcription

1 Beef, Veal and Lamb Report Beef, Veal & Lamb- Beef output last week rose.3% but was 1.9% less than '11. Some herd liquidation is occurring due to poor pasture conditions. This may support beef production in the near term but doesn't bode well for beef output in '13. The August 1st cattle on feed inventory was.7% larger than last year. Cattle placements into feedlots during July were 10% less than July '11 but the 2nd biggest for the month since '06. The beef markets are starting to soften. Further beef price weakness usually occurs in the near term. Look for holiday beef item markets like ribeyes and tenderloins to begin an upward trend in mid September. Live Cattle (Steer) Increasing Good Higher Ground Beef 81/19 Increasing Good Higher Ground Chuck Decreasing Good Higher 109 Export Rib (choice) Increasing Good Higher 109 Export Rib (prime) Increasing Good Higher 112a Ribeye (choice) Increasing Good Higher 112a Ribeye (prime) Increasing Good Higher 116 Chuck (choice) Increasing Good Lower 120 Brisket (choice) Increasing Good Higher 121c Outside Skirt (ch/sel.) Decreasing Good Higher 167a Knckle, Trimmed (choice) Increasing Good Higher 168 Inside Round (choice) Increasing Good Lower 174 Short Loin (choice 0x1) Decreasing Good Higher 174 Short Loin (prime 2x3) Increasing Good Higher 180 1x1 Strip (choice) Increasing Good Higher 180 1x1 Strip (prime) Increasing Good Lower 180 0x1 Strip (choice) Decreasing Good Higher 184 Top Butt, boneless (choice) Increasing Good Lower 184 Top Butt, boneless (prime) Increasing Good Higher 185a Sirloin Flap (choice) Decreasing Good Higher 185c Loin, Tri-Tip (choice) Decreasing Good Higher 189a Tender (select, 5 lb & up) Increasing Good Higher 189a Tender (choice, 5 lb &up) Increasing Good Higher 189a Tender (prime, heavy) Increasing Good Higher 193 Flank Steak (choice) Decreasing Good Lower 50% Trimmings Increasing Good Lower 65% Trimmings Increasing Good Lower 75% Trimmings Increasing Good Higher 85% Trimmings Decreasing Good Higher 90% Trimmings Increasing Good Higher

2 90% Imported Beef (frozen) Decreasing Good Higher Veal Rack (Hotel 7 rib) Steady Good Higher Veal Top Round (cap off) Steady Good Higher Oil and Grains Report Oil & Grains- Damage to the US corn and soybean crops are still being assessed. Inflated corn and soybean prices could persist which may translate to record high feed prices this fall. Soybeans Increasing Good Higher Crude Soybean Oil Increasing Good Lower Soymeal Increasing Good Higher Corn Increasing Good Higher Crude Corn Oil Steady Good Lower Distillers Grain, Dry Decreasing Good Higher Crude Palm Oil Increasing Good Lower Hard Red Winter Wheat Decreasing Good Higher Dark Northern Spring Wheat Increasing Good Lower High Fructose Corn Syrup Increasing Good Higher Durum Wheat Steady Good Lower

3 Dairy Report Dairy- July US milk production was.8% higher than the prior year due to a.3% larger milk cow herd and a.4% rise in milk per cow yields. Milk farmers reduced the milk cow herd in July from the previous month by a net 12k head. Slowed milk output growth could be supportive of dairy prices in The CME cheese markets have softened due in part to lackluster exports. The typical move lower for blocks from the Q3 high to the Q4 low is 22%. The CME spot butter market remains firm. Yet, the butter market usually peaks in September and then fades 25% by year end. Cheese Barrels- CME Decreasing Good Higher Cheese 40 lb Blocks- CME Decreasing Good Higher American Cheese Increasing Good Lower Cheddar Cheese Increasing Good Lower Mozzarella Cheese Increasing Good Lower Provolone Cheese Increasing Good Lower Parmesan Cheese Increasing Good Lower Butter- One lb Solids Increasing Good Lower Nonfat Dry Milk Increasing Good Lower Whey, Dry Increasing Good Lower Class I Milk Base Steady Good Lower Class II Cream (Heavy Cream) Decreasing Good Lower Class III Milk- CME Decreasing Good Higher Class IV Milk- CME Increasing Good Lower

4 Pork Report Pork- Pork production last week increased 6.4% and was 6.7% more than the same week in '11. Pork output usually rises in the late summer and influences the pork markets downward. The 5 year average move for the USDA pork cutout is 19% lower during the next 12 weeks. Yet, the baby back rib market is currently 22% below its 3 year price average. History tells us that the downside price risk for baby back ribs from here is likely only modest. In July, US retail pork prices were 1% lower versus '11 but the highest since April. Live Hogs Decreasing Good Lower Belly (bacon) Decreasing Good Higher Spare Rib (4.25 & down) Decreasing Good Lower Ham (23-27 lb) Decreasing Good Lower Loin (bone-in) Decreasing Good Lower Baby Back Rib (1.75 & up) Increasing Good Lower Tenderloin (1.25 lb) Decreasing Good Lower Boston Butt, untrimmed 4-8 lb. Increasing Good Lower Picnic, untrimmed Decreasing Good Lower SS Picnic, smoker trim boxed Steady Good Lower 42% Trimmings Decreasing Good Lower 72% Trimmings Decreasing Good Lower

5 Canned Tomato Report Tomato Products, Canned- The CA tomato harvest is progressing with 6 million tons expected to be landed by Saturday. Canned tomato prices remain firm. Whole Peeled Standard Steady Good Higher Diced, Fancy Steady Good Higher Ketchup, 33% Steady Good Higher Tomato Paste- Ind. Steady Good Higher

6 Poultry Report Poultry- The July broiler chick hatch was 1% less than the prior year suggesting that chicken production may continue to trend below '11 levels this September. Pullet placements into the broiler hatchery flock during July were down 6% versus '11. A smaller broiler hatchery flock implies chicken output will remain curbed deep into '13. The chicken breast market has risen 6.7% this month. Still, chicken breast prices usually peak right after Labor Day and then trend 20% lower over the following 10 weeks. Chicken wing prices are firm due in part to building football season demand. Since '07, the average move for the chicken wing market from now through the Super Bowl is up 17%. July retail chicken prices were 12% above '11. Whole Chicken (2.5-3 lb-ga) Increasing Good Higher Whole Chicken (LA) Steady Good Higher Chicken Wings, Whole Steady Good Higher Chicken Wings, Jumbo Cut Increasing Good Higher Chicken Breast, Bone-In Steady Good Higher Chicken Breast, Bnless Sknless Increasing Good Higher Chicken Tender (random) Steady Good Higher Chicken Tender (sized) Steady Good Higher Chicken Legs (whole) Increasing Good Higher Chicken Leg Quarters Increasing Good Lower Chicken Thighs, bone in Increasing Good Higher Chicken Thighs, boneless Increasing Good Lower Large Eggs Decreasing Good Higher Medium Eggs Decreasing Good Higher Whole Eggs- Liq Steady Good Higher Egg Whites- Liq Decreasing Good Higher Egg Yolks- Liq Increasing Good Higher Whole Turkey (8-16 lb) Increasing Good Higher Turkey Breast- Bnls/Sknls Increasing Good Lower

7 Seafood Report Seafood- Adequate US salmon supplies are persisting. In June, US salmon fillet and steak imports were 15% above '11 which is better than the 6% average increase for salmon imports during the first 6 months of '12. Assuming the US dollar remains elevated versus '11, solid salmon imports should persevere this fall. Salmon prices are expected to continue to trade below the previous year levels during the next several months. Salmon, Whole (10-12 lb) Steady Good Lower Catfish, Filets Steady Good Lower Trout, Drn. (8-14 oz) Steady Good Higher Shrimp (16-20 count) Increasing Good Lower Shrimp (61-70 count) Increasing Good Lower Shrimp, Tiger (26-30 count) Steady Good Lower Snow Crab Legs (5-8 oz) Steady Good Lower Snow Crab Legs (8 oz up) Increasing Good Lower Cod Tails, 3-7 oz. Frz. Increasing Good Higher Cod Loins, 3-12 oz. Frz. Increasing Good Lower Salmon Portions, 4-8 oz. Frz. Steady Good Lower

8 Bean, Rice, Coffee and Sugar Report Pinto Beans Decreasing Good Higher Black Beans Steady Good Higher Rice, Long Grain Steady Good Lower Coffee Beans Decreasing Good Lower Sugar Decreasing Good Lower Honey Increasing Good Higher Paper Product Report Wood Pulp (paper) NBSK- Paper napkin Decreasing Good Lower 42 lb. Linerboard-corrugated box Increasing Good Lower Plastic Resins (plastic, foam) PS-CHH-utensils, cups, to-go cont. Steady Good Higher PP-HIGP-heavy grade utensils Steady 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

9 Processed Fruits and Vegetables Report Processed Fruits and Vegetables- The Midwest vegetable crops have been negatively impacted by the drought. The processed vegetable markets 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

10 Produce Report Produce- Potato prices are trending lower with the summer price peak likely behind us. As the Northwest potato harvest builds in the coming weeks potato prices tend to fall. The Idaho potato markets are expected to drop at least 15% over the next few months. The iceberg lettuce market has moved lower lately but is still above '11 levels. Iceberg lettuce supplies are sufficient but with quality problems. Some further weakness may occur in the iceberg lettuce market in the coming weeks. The tomato markets are fading but history points to just a nominal downside price risk from here. Limes (150 count) Increasing Good Lower Lemons (95 count) Steady Good Lower Lemons (200 count) Steady Good Lower Honeydew (6 ct.) Steady Good Same Cantaloupe (15 count) Decreasing Good Higher Blueberries (12 count) Decreasing Good Lower Strawberries (12 pints) Steady Good Higher Avocados, Hass (48 count) Decreasing Good Lower Bananas (40 lb)-term. Increasing Good Lower Pineapple (7 ct.)- Term. Decreasing Good Lower Idaho Potato (60 count) Decreasing Good Lower Idaho Potato (70 count) Decreasing Good Lower Idaho Potato (70 count)-term. Decreasing Good Lower Idaho Potato (90 count) Decreasing Good Lower Idaho Potato #2 (6 oz. min.) Decreasing Good Lower Processing Potato (100 lb) Steady Good Lower Yellow Onions (50 lb) Decreasing Good Higher Yellow Onions (50 lb)-term. Increasing Good Higher

11 Red Onions (25 lb)-term. Decreasing Good Higher White Onions (50 lb)-term. Decreasing Good Higher Tomatoes, (large- case) Decreasing Good Lower Tomatoes, (5x6, 25 lb.)-term. Decreasing Good Higher Tomatoes, Vine Ripe, (4x5) Decreasing Good Lower Roma Tomatoes (large- case) Decreasing Good Higher Roma Tomatoes (xlarge- case) Decreasing Good Higher Green Peppers (large- case) Increasing Good Higher Red Peppers (large- 15 lb. cs.) Decreasing Good Higher Iceberg Lettuce (24 count) Decreasing Good Higher Iceberg Lettuce (24 cnt)-term. Decreasing Good Higher Produce Report (continued) Leaf Lettuce (24 count) Increasing Good Higher Romaine Lettuce (24 count) Increasing Good Higher Mesculin Mix (3 lb)-term. Increasing Good Lower Broccoli (14 cnt.) Increasing Good Lower Squash (case) Increasing Good Higher Zucchini (case) Increasing Good Higher Green Beans (bushel) Decreasing Good Lower Spinach, Flat 24 s Increasing Good Higher Mushrooms (large), Term. Increasing Good Higher Cucumbers, Bushel Increasing Good Lower Pickles ( ct.)-term. Increasing Good Lower Asparagus (small) Decreasing Good Lower Freight (CA to City Avg.) Decreasing Good Lower