Its the WEEK for…

Author: Erika Eckley

Date: August 10, 2018

FRESH PRODUCE

Michigan produce items currently available: Corn, Lettuce, Greens, Chard, Blueberries, Peaches, Radish, Beets, Celery, Squash, Cabbage, Green and Wax Beans, Tomatoes, Cucumbers, and Peppers.

 
Yellow Squash and Zucchini (Michigan):
  • Steady supplies.
  • Zucchini slightly lower.
  • Quality variable.
Cabbage (Michigan):
  • Light supplies.
  • Good quality overall.
Corn (Michigan):
  • Good supplies in Michigan. Quality generally good.
Onions:
  • New crop Yellow and Red onions are available with White onions just around the corner.
  • Market on Red onions are firm with good demand.
  • Yellow prices remain steady with ample supplies of Yellows in most growing areas, it appears that the market could be low and steady for the season- but it is produce… anything can happen.
Potatoes:
  • New crop russets are here!
  • Prices are steady with good supplies.
  • Very nice mix of sizes are available. Very nice skin set- the weather is cooperating perfectly.
  • Most of the sheds in Washington or Oregon will be running by the end of the week 31.
  • Storage supplies are exhausted for the most part, with there just being a handful left.
 Broccoli:
  • The broccoli market gained a little strength last week as supplies remained steady, but demand picked up.
  • Some shippers have better supplies than others, and overall we expect to see pricing continue to trend up.
Lime:
  • Supplies of small fruit such as 230s and 250s are heavy as the new crop has started.
  • Lemon supply is down in the US and has caused a higher demand for Limes as a substitution.
Lemons:
  • Lemons are a summer mess with supplies in the dumps and the market is skyrocketing.
  • Supplies are extremely tight and are not expected to improve for a few months; this is all based on the sizes and grades.
  • This situation is expected to last for at least the next two months. District 2 crop is off by almost 35%.
Mexican Avacado:
  • Supplies are light and pricing is expected to be strong on the new crop fruit for the next several weeks.
  • Shippers are quoting on a daily basis.

PROTEIN

Beef:
  • Loins- Just Steady
  • Rounds- Steady
  • Chucks- Steady
  • Ribs- Steady
  • Grinds- Steady
Chicken:
  • Whole broiler/fryer prices are weak and trending lower going into next week.
  • Supplies are available for current needs, with retail and food service being mostly light to moderate.
  • Dealers see no need to extend floor stocks behind regular commitments.
  • Market activity is slow to moderate.
  • In the parts structure, jumbo wings are steady, balance of white items are steady to weak.
Pork:
  • Hams- Just Steady
  • Butts- Just Steady
  • Ribs- Steady
  • Trim- Steady
  • Loins- Just Steady
Turkey:
  • The market on fresh tom breast meat and fresh beast trim is steady to firm with the balance of white meats and white trims is at least steady.
  • Demand on fresh white meats and white trims moderate to instances good.
  • Further processed demand moderate to good with some thawing frozen product to satisfy needs.
  • Trading slow to moderate, mostly slow centering on fresh tom breast meat.

 

SEAFOOD

Wild

Atlantic Cod:
  •  Pricing will continue to be firm as demand remains steady.
  • 2019 Barents Seas quota will be released in October, we do anticipate significant cuts to be announced.
  • Icelandic Cod: Prices have been high at auction and only 5% of the quota remains to be caught.
  • Due to the cuts in the Barents Sea, anticipate that pricing will remain firm.
Pacific Cod:
  • Pricing remains firm as the refresh market demand remains strong in both China and Europe.
  • Quotas are not expected to change as we head into 2019.
Haddock:
  • Pricing continues to firm due to lack of supply in late 2017 and increase demand as people switch from Cod to Haddock.
  • Average size haddock are still large. There is more demand than supply of 8-10 oz. and 10-12 oz. and expect limited inventories to continue throughout the summer.
Pollock:
  • The rising prices of Cod and Haddock is causing the pricing of Pollock to remain firm as demand increases.
  • Although prices are firming, Pollock continues to remain a great value.
 Flatfish:
  • Supply continues to be tight as current landings are behind this same period in 2017.
  • Prices are firming faster than expected.
Wild Salmon:
  • Pricing will remain stable into Q3.
  • We expect demand to strengthen as we head into the 2018 fishing season (July).
Cold Water Shrimp:
  • Due to shortness in the market, inventory is tight and prices are firming.
U.S Atlantic Sea Scallops:
  • Fishing began on April 1st and landings have been good.

Aquaculture

Tilapia:
  • US imports continue to decline, and prices remain at a multi-year low. The market is expected to remain stable through 2018.
Atlantic Salmon:
  • Demand is strong for Chilean Salmon with outputs not meeting projections due to early harvesting in Q1.
  • Prices continue to strengthen as we will see decreased volumes in the back half of 2018 and packers put a priority on the fresh market.
Warm Water Shrimp:
  • White Shrimp prices have stabilized as peak harvest season begins.
  • Black Tigers – Due to adequate inventory levels, prices are expected to remain stable through Q3.

DAIRY:

Cheese:
  • Cheese barrel prices saw a large slip on Monday from their run up last week.
  • Barrel prices have been making up that lost ground.
  • Blocks, also have moved northbound this week.
  • Even though milk volumes are down from their peak across the country, cheese makers in all regions are not short on milk for cheese production.
  • Spot milk prices varied by locality.
Butter:
  • Butter production is down mainly due to lower cream supplies available for churning.
  • The cream market is on a bullish position and buyers are paying higher premiums, compared to a few weeks ago.
  • Some butter makers prefer to sell the cream in the spot marketing instead of churning.
Fluid Milk and Cream:
  • Milk volumes remain regionally specific this week.
  • Upper Midwestern temperatures saw an increase over the weekend, but contacts suggest it will not be enough to lighten seasonally sufficient supplies.
  • School season has hit in the South, and Class 1 intakes are up there.
  • Upper Midwestern school bottling is expected to see upticks in the next two weeks.
  • Spot milk discounts into cheese production were noticeably and unexpectedly thinner this week.
Shell Eggs:
  • Prices of New York eggs are 3 cents higher for Extra Large, Large, and Medium.
  • Regional and California prices are steady. The undertone is steady to firm. Offerings are light to moderate.

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