Beef, Veal and Lamb Report Beef, Veal & Lamb -Beef output last week rose 2.5% from the previous week and was 8.2% bigger than 2014 s Labor Day week. Cattle slaughter was the biggest since June. Slaughter will be short this week due to the holiday which could bring some short term support to the beef markets. Thereafter, several of the beef markets could soften including top butt sirloins. Last year the choice 185c top butt market declined 13% during the next four weeks. Inflated lean beef trim prices and an elevated U.S. dollar valuation continue to fuel strong beef imports. During July the U.S. imported 8.5% more beef than a year ago. However, Australian beef exports are nearing quota which could trigger their tariff program this fall. Price USDA, FOB per pound Live Cattle (Steer) Decreasing Short Lower Feeder Cattle Index (CME) Decreasing Short Lower Ground Beef 81/19 Increasing Good Lower Ground Chuck Decreasing Good Lower 109 Export Rib (ch) Decreasing Good Higher 109 Export Rib (pr) Increasing Good Lower 112a Ribeye (ch) Increasing Good Higher 112a Ribeye (pr) Increasing Good Lower 114a Chuck, Shlder Cld(ch) Increasing Good Lower 116 Chuck (sel) Increasing Good Lower 116b Chuck Tender (ch) Decreasing Good Lower 116 Chuck (ch) Decreasing Good Lower 120 Brisket (ch) Decreasing Good Lower 120a Brisket (ch) Increasing Good Lower 121c Outside Skirt (ch/sel) Increasing Good Higher 121d Inside Skirt (ch/sel) Increasing Good Higher 121e Cap & Wedge Increasing Good Lower 167a Knckle, Trimmed (ch) Increasing Good Lower 168 Inside Round (ch) Decreasing Good Lower 169 Top Round (ch) Decreasing Good Lower 171b Outside Round (ch) Increasing Good Lower 174 Short Loin (ch 0x1) Increasing Good Higher 174 Short Loin (pr 2x3) Increasing Good Lower 180 1x1 Strip (ch) Decreasing Good Higher 180 1x1 Strip (pr) Increasing Good Higher 180 0x1 Strip (ch) Decreasing Good Higher 184 Top Butt, boneless (ch) Decreasing Good Higher 184 Top Butt, boneless (pr) Decreasing Good Higher 185a Sirloin Flap (ch) Increasing Good Higher 185c Loin, Tri-Tip (ch) Increasing Good Lower 189a Tender (sel, 5 lb & up) Increasing Good Higher 189a Tender (ch, 5 lb &up) Increasing Good Higher 189a Tender (pr, heavy) Increasing Good Higher 193 Flank Steak (ch) Decreasing Good Higher 50% Trimmings Increasing Good Lower 65% Trimmings Increasing Good Lower 75% Trimmings Decreasing Good Lower 85% Trimmings Decreasing Short Lower 90% Trimmings Decreasing Short Lower 90% Imported Beef (frz) Decreasing Good Lower 95% Imported Beef (frz) Decreasing Good Lower Veal Rack (Hotel 7 rib) Steady Good Higher Veal Top Round (cap off) Steady Good Higher Market Report provided by American Restaurant Association- www.americanrestaurantassociation.com- 941-379--2228
Grains The principal period of the 2016-17 corn and soybean harvest is underway under mostly favorable conditions. U.S. corn and soybean final yields are estimated to be the second biggest on record which could weigh on the markets in the coming weeks. Engaging corn and soybean prices may persist this fall. Prices USDA, FOB Soybeans, bushel Increasing Good Lower Crude Soybean Oil, lb Decreasing Good Lower Soybean Meal, ton Decreasing Good Lower Corn, bushel Increasing Good Lower Crude Corn Oil, lb Steady Good Higher High Fructose Corn Syrup Steady Good Higher Distillers Grain, Dry Decreasing Good Higher Crude Palm Oil, lb BMD Decreasing Good Lower HRW Wheat, bushel Decreasing Good Lower DNS Wheat 14%, bushel Decreasing Good Lower Durum Wheat, bushel Decreasing Short Lower Pinto Beans, lb Increasing Good Lower Black Beans, lb Steady Good Lower Rice, Long Grain, lb Steady Good Lower
Dairy The butter market continues to cyclically firm with the CME market recently climbing to its highest level since October. The five year average move for the butter market during the last three weeks of September is an increase of just 2%. Thereafter, butter prices usually fall sharply. The five year average decline during the last three months of the year is 24%. The existing ample butter supply and solid imports could cause more intense butter price declines this fall. The cheese markets remain range-bound. Lackluster export demand could keep a lid on cheese prices. Prices per pound, except Class I Cream (hundred weight), from USDA. Cheese Barrels (CME) Steady Good Lower Cheese Blocks (CME) Decreasing Good Lower American Cheese Increasing Good Lower Cheddar Cheese (40 lb) Increasing Good Lower Mozzarella Cheese Increasing Good Lower Provolone Cheese Increasing Good Lower Parmesan Cheese Increasing Good Lower Butter (CME) Increasing Good Lower Nonfat Dry Milk Increasing Ample Lower Whey, Dry Decreasing Good Lower Class 1 Base Steady Good Lower Class II Cream, heavy Decreasing Good Lower Class III Milk (CME) Decreasing Good Lower Class IV Milk (CME) Increasing Good Lower
Pork Pork production last week declined 1.9% but was up 20.3% compared to last year s Labor Day shortened output week. Pork production will seasonally increase during the next few months which should put some modest downward pressure on the pork markets. Still, this fall s pork output is forecasted by the USDA to expand from the summer by the smallest percentage in six years which could dampen any seasonal declines in some of the pork markets. Prices USDA, FOB per pound. Live Hogs Decreasing Ample Lower Sow Decreasing Ample Lower Belly (bacon) Increasing Good Higher Sparerib(4.25 lb & down) Decreasing Good Higher Ham (20-23 lb) Decreasing Good Lower Ham (23-27 lb) Decreasing Good Lower Loin (bone in) Steady Good Lower Babyback Rib (1.75 lb & up) Decreasing Good Lower Tenderloin (1.25 lb) Increasing Good Lower Boston Butt, untrmd (4-8 lb) Increasing Good Lower Picnic, untrmd Increasing Good Lower SS Picnic, smoker trm box Decreasing Good Lower 42% Trimmings Increasing Good Lower 72% Trimmings Increasing Good Lower
Poultry Chicken production for the week ending August 29 th rose 1.7% and was 4.4% better than the same week last year. Broiler slaughter that week was only up.2% while bird weights were 4.2% heavier. Recent chick placement data suggests that broiler slaughter growth this fall could be limited. This and seasonally building demand should bring support to the chicken wing markets. The ARA Chicken Wing Index last week declined by $.054 per pound marking the biggest decrease for the week in the last 15 years. Still, the ARA Chicken Wing Index price was the second highest for the week on record. U.S. chicken exports during July were down 21% from last year. Engaging chicken leg quarter prices are likely to persevere this fall. Prices USDA, FOB per pound except when noted Whole Birds (2.5-3 GA) Steady Good Higher Wings (whole) Steady Good Higher Wings (jumbo cut) Decreasing Good Higher Wing Index (ARA) Decreasing Good Higher Breast, Bone In Decreasing Good Lower Breast, Boneless Skinless Decreasing Good Lower Breast Boneless Index (ARA) Decreasing Good Lower Tenderloin (random) Steady Good Lower Tenderloin (sized) Steady Good Lower Legs (whole) Decreasing Good Lower Leg Quarters Steady Good Lower Leg Quarter Index (ARA) Decreasing Good Lower Thighs, Bone In Increasing Good Lower Thighs, Boneless Increasing Good Lower Whole Turkey (8-16 lb) Increasing Short Higher Turkey Breast, Bnls/Sknls Increasing Short Higher Eggs Large Eggs (dozen) Steady Short Higher Medium Eggs (dozen) Increasing Short Higher Liquid Whole Eggs Decreasing Short Higher Liquid Egg Whites Decreasing Short Higher Liquid Egg Yolks Decreasing Short Higher
Seafood U.S. shrimp imports during July were 4.1% less than the same month a year ago despite the elevated U.S. dollar. Thailand exported 8% more shrimp to the U.S. during the month. Historically large shrimp imports are likely this fall which may temper any seasonal price gains. Prices for fresh product, unless noted, per pound from Fisheries Market News Shrimp (16/20 frz) Decreasing Good Lower Shrimp (61/70 frz) Increasing Good Lower Shrimp Tiger (26/30 frz) Decreasing Good Lower Snow Crab Legs (5-8 oz frz) Steady Good Lower Snow Crab Legs (8oz & up frz) Steady Good Lower Cod Tails (3-7 oz frz) Steady Good Lower Cod Loins (3-12 oz frz) Increasing Good Higher Salmon Portions (4-8 oz frz) Steady Good Lower Pollock Alaska, Deep Skin Steady Good Higher
Paper and Plastic Product Report Wood Pulp (paper) NBSK- Paper napkin Steady Good Lower 42 lb. Linerboard-corrugated box Steady Good Higher Plastic Resins (plastic, foam) PS-CHH-utensils, cups, to-go cont. Decreasing Good Lower PP-HIGP-heavy grade utensils Decreasing Good Lower PE-LLD-can liners, film, bags Steady Good Lower Retail Price Change from Prior Month Description Jul-15 Jun-15 May-15 Beef and Veal Decreasing Increasing Decreasing Dairy Increasing Decreasing Decreasing Pork Increasing Increasing Decreasing Chicken Decreasing Increasing Decreasing Fresh Fish and Seafood Decreasing Decreasing Decreasing Fresh Fruits and Vegetables Decreasing Decreasing Increasing Various Markets The U.S. tomato for processing harvest is peaking. The total California harvest through the end of August achieved its highest level in nine years. Still, elevated raw product costs may keep canned tomato markets firm. Price bases noted below Whole Peeled, Stand (6/10) Steady Good Higher Tomato Paste-Industrial (lb) Steady Good Higher Coffee lb ICE Increasing Good Lower Sugar lb ICE Decreasing Ample Lower Cocoa mt ICE Increasing Short Higher Orange Juice lb ICE Decreasing Good Lower Honey (clover) lb Steady Good Lower
Produce The tomato markets continue to trade at relatively elevated levels due to weather induced Eastern supply gaps. Western tomato supplies could be somewhat erratic this month due to earlier weather challenges which could bring further support to tomato prices. The tomato markets could be inflated into October. The Idaho potato harvest is progressing which is putting downward pressure on the potato markets. This week various Idaho potato markets are trending at some of their lowest levels in nearly a year. History suggest further potato price declines are likely to occur this fall. Price bases noted below. Limes (150 ct) Decreasing Good Higher Lemons (95 ct) Steady Good Lower Lemons (200 ct) Steady Short Lower Honeydew (6 ct) Decreasing Good Same Cantaloupe (15 ct) Steady Good Lower Blueberries (12 ct) Increasing Good Higher Strawberries (12 pnt) Decreasing Good Lower Avocados (Hass 48 ct) Decreasing Good Lower Bananas (40 lb) Term Decreasing Good Higher Pineapple (7 ct) Term Increasing Good Lower Idaho Potato (60 ct 50 lb) Steady Short Higher Idaho Potato (70 ct 50 lb) Steady Short Higher Idaho Potato (70 ct ) Term Increasing Short Higher Idaho Potato (90 ct 50 lb) Steady Short Higher Idaho Potato #2 (6 oz 100 lb) Steady Short Higher Processing Potato (cwt) Steady Short Higher Yellow Onions (50 lb) Decreasing Good Higher Yellow Onions (50 lb) Term Decreasing Good Higher Red Onions (25 lb) Term Decreasing Good Higher White Onions (50 lb) Term Decreasing Good Higher Tomatoes (lg case) Decreasing Good Higher Tomatoes (5x6 lb) Term Decreasing Good Higher Tomatoes (4x5 vine ripe) Steady Good Higher Roma Tomatoes (lg case) Increasing Good Lower Roma Tomatoes (xlg case) Increasing Good Lower Green Peppers (lg case) Decreasing Good Higher Red Peppers (lg 15 lb case) Steady Good Lower Iceberg Lettuce (24 ct) Decreasing Good Higher Iceberg Lettuce (24 ct) Term Increasing Good Higher Leaf Lettuce (24 ct) Decreasing Good Lower Romaine Lettuce (24 ct) Decreasing Good Lower Mesculin Mix (3 lb) Term Decreasing Good Higher Broccoli (14 ct) Decreasing Good Lower Squash (1/2 bushel) Decreasing Good Lower Zucchini (1/2 bushel) Decreasing Good Lower Green Beans (bushel) Decreasing Good Higher Spinach (flat 24) Steady Good Higher Mushrooms (10 lb lg) Term Decreasing Good Lower Cucumbers (bushel) Decreasing Good Higher Pickles (200-300 ct) Term Decreasing Good Higher Asparagus (sm) Decreasing Good Higher Freight (truck CA-Cty Av) Decreasing Good Lower