Cheese-
Block Cheese steady The CME Group cash cheese market strengthened this week, with prices of blocks and barrels increasing. Sales were heavy, particularly for blocks where 30 loads changed hands. Increased milk supplies in the East and Midwest have abated previous supply constraints on cheese manufacturing. Spot milk sales in the Midwest at $2 over class flowed into cheese plants this week. Tighter milk intakes in the West continue to slow regional cheese production. Nevertheless, cheese supplies for contract commitments in the West remain adequate. Orders for process cheese are down in the Midwest while natural cheese orders are holding. Manufacturer inventory levels are in balance. Increased foodservice orders are noted in the East, with Ricotta orders noted to be increasing. (Information Source: USDA Dairy Market News, Week of September 14-18, 2009)
Dairy - Butter
Butter AA price increase "The CME cash butter price has firmed 9 cents since last Friday to close the week at $1.2700. Churning
activity across the country is seasonally active for this time of the summer. Cream volumes vary, but for the most part, are sufficient to maintain desired churning schedules. Some butter producers are comfortable with current cream volumes, while others are looking for additional volumes. Butter supplies are sufficient for needs with suppliers filling orders from fresh production, CME cash sales and inventoried stock. Buying interest has now returned to post summer sales levels. Students have returned to classrooms, thus at home eating patterns have increased. (Information Source: USDA Dairy Market News, Week of September 14-18, 2009)
"
Dairy - Egg
Large Egg (Northeast Market) gradual increase Current: Wednesday Market: Large is up .02 in the NE; SE and South Central are unchanged; Up .01 in the MW from previous week. Medium is up .02 in NE, SE, MW and South Central from previous week. XL is up .01 in the NW and unchanged in the SE, MW,and South Central from the previous week. Thursday Market: XL is unchanged from previous week. Large is unchanged from the previous week. Medium is up .04 from previous week.
Dairy - Milk
FMO Base Skim Class I steady The Federal Milk Order base Class I skim milk price released for September is $8.74.
Poultry - Chicken
Georgia Dock steady Continued over supply of small birds versus demand.
NE Boneless Breast gradual decrease Weak demand, moving out of season. Slowly declining prices
NE Select Boneless Breast price decrease Weak demand, moving out of season. Slowly declining prices
NE Wings gradual increase Some strength the next few weeks. Historically we have seen a dip in Oct. that may or may not happen this year due to production cuts and demand. Will trend upward again in Nov.
NE Jumbo Wings gradual increase Some strength the next few weeks. Historically we have seen a dip in Oct. that may or may not happen this year due to production cuts and demand. Will trend upward again in Nov.
NE Tenders steady Some increased demand should support this market for the next few weeks, then a gradual decline.
NE Small Tenders steady Some increased demand should support this market for the next few weeks, then a gradual decline.
NE Boneless Thigh Meat Special Trim steady Temporary floor had been reache as the price is low enough to dlear product.
Boxed Beef
Boxed Beef Cutout, Choice steady Cutout values are expected to remain generally steady with some spot market trading to occur designed to keep inventories rotated and moving.
Boxed Beef Cutout, Select steady Cutout values are expected to remain generally steady with some spot market trading to occur designed to keep inventories rotated and moving.
81% Lean Fine Ground Beef steady Ground Beef is steady but will trade at the end of the week to clear up inventory long suits.
Inside (Top) Rounds - Commodity Trim, Choice steady The market value of Inside Round has stalled and will adjust slightly lower during the next 2 weeks.
Inside (Top) Rounds - Commodity Trim, Select steady The market value of Inside Round has stalled and will adjust slightly lower during the next 2 weeks.
Heavy Lip On Rib Eyes, Choice price increase The Rib complex is an area packer's need to see market appreciation. While the market is steady today higher prices are forthcoming.
Heavy Lip On Rib Eyes, Select gradual increase The Rib complex is an area packer's need to see market appreciation. While the market is steady today higher prices are forthcoming.
5/up PSMO Tenderloins, Choice steady Tenderloins are not gain pricing momentum. Packer's continue to use price to drive sales and rotate inventories. Like the Rib Eyes, packer's will look to the Tenderloin need to move higher.
5/up PSMO Tenderloins, Select steady Tenderloins are not gain pricing momentum. Packer's continue to use price to drive sales and rotate inventories. Like the Rib Eyes, packer's will look to the Tenderloin need to move higher.
0X1 Strip Loins Boneless Strip Loins, Choice steady Strip Loins continue to display weakness. Neither Foodservice or Retail support is available.
0X1 Strip Loins Boneless Strip Loins, Select steady Strip Loins continue to display weakness. Neither Foodservice or Retail support is available.
Heavy Top Sirloin Butts - Commodity Trim, Choice steady Top Sirloin Butts will move slightly lower now that the summer grilling season has past. The market should remain steady at lower money through years end.
Heavy Top Sirloin Butts - Commodity Trim, Select gradual decrease Top Sirloin Butts will move slightly lower now that the summer grilling season has past. The market should remain steady at lower money through years end.
Tri Tips, Fat On, Choice gradual decrease Tri Tips will move lower as west coast retailers concentrate Pork, Poultry and other more seasonal beef cuts.
Tri Tips, Fat On, Select gradual decrease Tri Tips will move lower as west coast retailers concentrate Pork, Poultry and other more seasonal beef cuts.
Flap Meat, USDA Choice steady Flap Meat should remain in price. Supply is abundant. Packer will use price to balance and generate sales.
Flap Meat, Select steady Flap Meat should remain in price. Supply is abundant. Packer will use price to balance and generate sales.
2/up Ball Tips, Choice steady The value of Ball Tips have and will continue to move seasonally lower. Demand is minimal
2/up Ball Tips, Select steady The value of Ball Tips have and will continue to move seasonally lower. Demand is minimal
Boneless Beef Briskets, Choice 0 0
Boneless Beef Briskets, Select steady Look for Briskets to move seasonally higher. They will be supported by religious holiday volume followed by purchasing activity from Corned Beef supplier for St. Patrick's Day. The USDA is also been reporting strong forward sales.
Outside Skirts, Commodity Trim gradual decrease The Outside Skirt is showing signs of weakness. Inventories are starting to build at the packer levels forcing downward price adjustments.
Pork
Pork Loin Boneless w/Strap price increase Prices are forecasted to move gradually lower as we move through the end of September and into October;
Pork Loin Boneless Strap Removed price increase Prices are forecasted to move gradually lower as we move through the end of September and into October;
Pork Loin 21dn 1/4 in. lgt Bone In price increase Steady trades in the low 90's are forecasted for the next few weeks
Loin Back Ribs gradual increase Further gradual declines are expected
Hams 20/23 price increase Supplies are expected to increase slightly over the next few weeks and push prices slightly lower
Pork Bellies 14/16 gradual increase Steady to slightly lower trades are forecasted over the next 1-2 weeks
Pork Butts, 1/4 in. trim 5-10# gradual increase Steady trades for the next 1-2 weeks are forecasted
Spare Ribs steady Slightly lower is the call for the next few weeks
Sow 550 & up gradual decrease Steady to slightly lower trades are forecasted over the next 2-3 weeks
Beef Trimmings 50% (Combo Fresh) steady Seasonal demand driven by retail should begin push prices higher
Beef Trimmings 90% (Combo Fresh) steady Seasonal demand driven by retail should begin push prices higher
Seafood
Domestic Shrimp gradual decrease "Selling pressure continues on Under 15
through 26-30 count and some further discounting is noted."
Mexican Shrimp steady "The market is weak and unsettled with some
lower offerings noted as remaining inventories are cleared."
Asian Blk Tigers steady "The market is steady at listed levels as offerings
remain limited.
Value-Added Shrimp: The market is about steady with some
discounting noted in order to spur buying interest. Peeled tail"
Vannamei Shrimp (Asian, So Amer,Indian) steady "21-25 and 26-30 count Latin American white shrimp
are barely steady to weak. Mexican production is anticipated in these
sizes and some discounts are off ered in order to move off limited
inventories. The balance of the market is unsettled as demand is
rated seasonally lackluster; some discounting is noted in order to spur
buying interest.
Head-on shrimp are steady to full steady, supplies related tight.
26-30 count and larger Asian white shrimp are unsettled as supplies
improve. Smaller count shrimp are about steady but may be discounted
to meet Latin off erings"
Domestic Catfish steady "Pangasius Frozen Fillets (Vietnam): 5 & up oz. fi llets fi rmed
slightly. The market holds a steady to full steady undertone as
supplies prove to be just adequate at newly quoted levels.
"
Cod steady Cod inventories are very good in all sizes across the board and much more affordable this year than last. There are still some scattered landings in the Gulf of Alaska.
Pollock steady Pollock prices are firm as the current season in Bering Sea is going slower than anticipated (approximately 50% of available catch has been harvested) Catch again is trending to the larger sizes. Next season in the Gulf of Alaska opens in September
Salmon Wild/Farm Raised steady "Farmed Salmon: The Northeast wholefish market adjusted lower
on 12-14s and the remainder of the market is unchanged; supplies
are adequate to fully adequate for a fair demand. European
wholefi sh also continue to be readily available and are causing
some downward pricing pressure in the Northeast market.
The European wholefish market remains barely steady; supplies
are fully adequate for a lackluster demand. The undertone is
unsettled with both higher and some significantly lower offerings
noted. Some carried product is also reported to be in the market.
The European fillet market adjusted lower on 3-4s and held
about steady on 2-3s and 4-5s. Supplies range adequate to fully
adequate for a fair demand.
European frozen fillets are still reported in the market; pricing
looks to trend between 4.35 and 4.55 for 3-4 pound d-trim fi llets.
European portions are noted between 5.50 and 6.00.
The Chilean fillet market weakened on 3-4 and 4-5 pound fillets.
Supplies on these sizes are fully adequate to ample for a dull
demand. 1-2s and 2-3s, on the other hand, are steady to about
steady for a fair demand. 1-2 supplies remain barely adequate.
The Chilean wholefish market is steady at listed levels.
The Chilean Steelhead market adjusted lower; supplies are fully
adequate for a dull demand. A few still lower offerings were
also reported.
The West Coast wholefish market advanced on 14-ups. Supplies
are barely adequate for a moderate demand. The balance of the
market is steady at listed levels.
Wild Salmon: The wild market is generally steady for a moderate
demand. Sockeyes remain full steady as supplies are beginning
to dry up.
"
Crab steady "Canadian Snow Crab: The market continues unsettled on 5-8s;
both higher and lower off erings are noted. The remainder of the
market is about steady for a quiet demand.
King Crab: The red and golden king crab market ranges
about steady to barely steady on 20-24 and 20-up crab.
A few lower offerings have been collected. Supplies are
adequate for a lackluster demand. The balance of the market
remains unchanged. Crab Meat: Some price adjustments were noted on Indonesian
crab meat today. Higher replacement costs were cause for the
upswing on most grades. Backfin prices were the exception and
prices went lower.
"
Scallops steady "The market for Chinese bay scallops is
narrowly mixed, and offerings largely dependent on individual
inventories. Chinese sea scallops were unchanged, though the
market somewhat unsettled. New season products are arriving
and importers adjusting offerings based upon replacement.
Domestically, availability of U10’s is thin and market prices firm.
According to NMFS, the Northeastern LAGC scallop fishery
will re-open on September 1, 2009, for vessels with an IFQ
permit. Approximately 309,320 lbs. remains available in the 3rd
quarter for harvest after deducting the overage from the 1st
quarter landings.
"
Oil & Shortening Overall category update Oil markets are expected to increase this week. Note: The threat of volatility is ongoing, and these markets continue proving that any slight unexpected change in information can spark changes to investor behavior patterns, resulting in market trade changes.
Soybean Oil gradual increase
Bakery
Winter Wheat (Hard Red) steady
Spring Wheat (Hard Red) steady
Other Overall category update 0
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