Beef
Market is unsettled. Total beef production for last week was up 20.9% compared to prior week that had shortened holiday production and up 2.6% versus same time last year. Total headcount for last week was 626,000 as compared to 612,000 for the same week last year. Live weights for last week were up 2 lbs. from prior week but down 6 lbs. from same time last year. Buying interest had been seasonally lower as we moved into this week but reports mid-week have shown increased buying activity causing packers to increase their asking prices. Severe winter weather is expected to impact the Midwest multiple times over the comings days with expected possible production and logistical delays and this is helping to keep the market unsettled.
Grinds– Market is mostly steady.
Loins– Market is unsettled. The market was mostly steady moving into this week, but improved buying activity helped to push the market higher.
Rounds– Market is unsettled. The market was seen downward pressure as this week started but with other cuts this market began seeing improved buying interest and higher asking prices from packers.
Chucks– Market is unsettled. After seeing downward pressure coming into this week the market has seen increased buying activity.
Ribs– Market is mostly steady.
Pork
Market is unsettled. Total pork production for last week was up 13.4% compared to prior week and was up 4.6% compared to same time last year. Total headcount for last week was 2,565,000 as compared to 2,440,000 for the same week last year. Live weights for last week were even with prior week but down 1 lb. from same time last year. Export interest has been improved coming into this week. The severe weather is a concern for packers across the Midwest with multiple plants deciding to close on Saturday do the extreme weather that is forecasted. Extreme cold is expected to grip that region later this week and this is expected to impact logistics for hogs going to plants as live hogs don’t travel well in extreme cold. Retail demand has only been fair coming into this week.
Bellies– Market is mostly steady. Demand has eased slightly after the recent increases in pricing and this is helping to hold the market steadier.
Hams– Market is firm. Export demand is improved with demand from Mexico helping to put pressure on the market.
Loins– Market is unsettled. The market has seen some downward pressure, but the winter weather is helping to hold the market more unsettled as the week progressed.
Butts– Market is steady to weaker. Demand is fair.
Ribs– Market is firmer. Buying interest is good and putting pressure on the market.
Chicken:
Market is steady to firmer. Total headcount for last week was 165,877,000 as compared to 165,253,000 for the same time last year. Average weights for last week were 6.17 lbs. as compared to 6.25 lbs. for the same week last year. Demand for wings and tenders is very strong. Demand for boneless breast and leg quarters is currently rated as steady. Industry supply is back to full production. Supply on wings and tenders is extremely tight. Market is moving higher on wings and tenders as seasonal demand is going strong.
WOGS– Market is weaker. Demand has eased recently in both the retail and foodservice channels. Supply has come back to normal levels. Now that supply is more available, market is moving lower.
Tenders– Market is firmer. Demand from foodservice and further processors is on the rise and very active. Supply is limited, and the market continues to move higher.
Boneless Breast– Market is steady. Demand for all sizes of boneless breast remains consistent. Supply is available, but not in excess. Market remains flat.
Leg Quarters and Thighs– Market is steady. Domestic demand is being reported as fair and export demand continues to gain additional interest. Supply continues to be available.
Wings– Market is firmer. Demand for all sizes of wings continues to be extremely strong. Foodservice operations and further processors continue to keep this line of business in a sold-up position. Supply is being held at premium. Market is moving higher.
Turkey:
Market is steady. Total headcount for last week was 4,166,000 as compared to 4,544,000 for the same week last year. Average weights for last week were 32.84 lbs. as compared to 32.04 lbs. for the same week last year. Egg sets for last week were down 9.62% from prior week and are trending down 11.06% for year to date versus same time last year. Demand remains steady on whole birds, breast meat, and parts. Supply is being reported as available, but not excessive.
Whole Birds– Market is steady. Limited information is being reported on this category to start the year. Demand continues to be fair. Supply is available. Market levels are currently holding steady.
Breast Meat– Market is steady. Demand from deli, foodservice, and processors continue to remain consistent. Supply is available.
Wings– Market is steady. Demand for whole wings and two joints is being reported as fair.
Drums– Market is steady. Demand continues to be average at best. Supply is available.
EGGS:
Market is firmer. Retail demand is starting to pick up and is being reported as very active. Retail features across the nation are driving the improved demand. Foodservice and institutional demand continues to be reported as steady. Supply across most sizes is being reported as tight due to increased demand and some of the inclement weather hitting certain parts of the nation. Market is moving higher. National weekly shell egg inventory reports shell egg inventory to be down 4.9% over last week.
Gulf Shrimp– Market is mostly steady. Production is seasonally slower. White Shrimp remain in the tighter supply and have seen upward pressure over the prior weeks.
Black Tiger Shrimp– Market is mixed. Larger sized shrimp remain in tight supply and are limited for current demand and this is putting continued pressure on that market. Smaller sized shrimp are in better supply and have seen pressure for several weeks due to the lower priced white shrimp market.
White Shrimp– Market is unsettled. Buying activity was improved as we moved past the holidays but has been slower as we moved thru this week. Asking prices had seen some upward pressure due to the improved demand but the market has been more mixed this week based on available inventories between suppliers.
King Crab– Market is firm. Demand from Asia is very strong and keeping pressure on this market.
Snow Crab– Market is mixed. The market is weaker on 5-8 oz product with good inventory levels for a fair demand. The market for 8 oz and up is firm due to limited inventories and active buying demand.
Warm Water Lobster Tails– Market is firm. Inventories on product from Brazil is limited due to the strong demand that has been in place for several weeks. That fishery is now closed for the season, so this will put additional pressure on that market. Inventories from the Caribbean are also limited and putting additional pressure on the market.
North American Lobster Tails– Market is firm. Production is seasonally light, and this combined with lower than expected production for the past several weeks has been keeping pressure on the market. Available inventories are limited.
Salmon– Market is steady.
Cod– Market is firm. Reduced quotas and strong demand are keeping pressure on the market.
Flounder– Market is steady but firm. Larger sized fillets are in light supply and continue to see upward pressure. The Alaskan quota for 2019 has seen a slight increase over prior year.
Haddock– Market is firm. Global demand has been very good for several months. This combined with reduced quotas has been keeping upward pressure on the market.
Pollock– Market is firm. Inventories are light for an active demand. Quotas for 2019 have seen a slight increase over prior year.
Domestic Catfish– Market is steady.
Tilapia– Market is steady to firmer. Buying activity has been strong and keeping pressure on the market. Domestic demand in China is very strong and keeping additional pressure on the market.
Swai– Market is steady to firmer. Demand has been very good and keeping pressure on the market. Smaller sized fillets remain in lighter supply than other sizes and continue to see higher market prices as compared to the larger sizes.
Scallops– Market is steady to firmer. The market for domestic product has seen some upward pressure on larger sized product coming into this week. Demand has been good, and production has been seasonally light for several weeks. The rest of the market is mostly steady.
SOY OIL
Market is unsettled as trade talks with China may not have been as productive as originally thought. Crush volumes are still at record highs supporting animal feed while USDA and government reports are minimal due to shut down. For several weeks, all eyes have been on South American weather to see if the yield may change and drive the market. Oil is still at some of the lowest prices in over ten years.
Cheese
Market is unsettled. Both the CME Block and Barrel markets moved lower this week. The gap between block and barrel prices is once again widening. Milk has been readily available since the holiday season and producers have kept up the production pace accordingly. Inventories are heavy across the country. Demand for mozzarella is strong as the Super Bowl season draws closer.
Butter
Market is unsettled. The CME Butter market has moved both higher and lower this week. Availability of cream has been plentiful since the holiday season ended. Producers have maintained churning schedules to keep up with the supply of cream. Many producers are already building spring butter inventory. Demand for both print and bulk butter is strong.
Wheat Weekly Market Highlights
FLOUR/WHEAT
Market is slightly softer than December numbers and steady compared to last week. Price per bushel paid to US farmers was $.19 down from December. Suggested acreage for winter seeding down 2 million from same period last year as farmers plant more profitable crops like corn. When USDA report comes out, this may have a bullish effect on the market
Georgia Grown Produce:
| LOCAL PRODUCE – WEEK | |||||
| Item | State | Farm | Link | ||
| COLLARDS BUNCH | 24 | EA | Georgia | Baker Farms | http://www.bakerfamilyproduce.com |
| COLLARDS SPROUT | 24 | EA | Georgia | Baker Farms | http://www.bakerfamilyproduce.com |
| TURNIP SALAD | 24 | EA | Georgia | Baker Farms | http://www.bakerfamilyproduce.com |
| JUMBO SWEET POTATO | 40 | LB | N. C. | Wayne Bailet | http://www.sweetpotatoes.com/ |
| #1 SWEET POTATO | 40 | LB | Alabama | Haynes Farming | |
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