Cheese Market Block and Barrel -
"Cheese prices were mostly unchanged for the holiday-interrupted week. Trading activity at the CME Group was very light. The important news this week involved record hot, humid weather across much of the country. The Midwest and East both experienced extended record high temperatures. With milk solids already decreasing, now cheese plants are anticipating reductions in volume due to the weather. Rising prices since early May have advanced cheese prices from 14-20 cents at the CME Group. (Source: Dairy Market News Week Of July 2, 2012- July 6, 2012)."
Butter AA steady "The CME cash AA butter price held steady for most of the holiday week but firmed on Friday to settle at $1.5325. Churning schedules were enhanced at varying rates throughout the country as additional cream volumes became available due to the midweek holiday. A major storm in the Mid-Atlantic region of the East Coast caused extensive power outages that interrupted and shut down operations at numerous dairy facilities. The combination of the storm and holiday related shut downs decreased cream demand and increased cream volumes clearing to churns. Some Eastern cream was cleared to Midwestern butter operations to keep volumes moving. Overall butter demand slowed this week as retailers and food service outlets prepared for the holiday period in recent weeks. (Source: Dairy Market News Week Of July 2, 2012- July 6, 2012)."
Eggs are steady
Georgia Dock steady Market has lost steam in price and was reported as steady, should see downward price trend over the next couple of weeks. Boneless Breasts have seen increases and will again increase with heavy demand and a short production week. Wings continue to experience shortages, the short production week will only make the situation worse. Thighs are holding steady.
Ground beef shows signs of decreasing but retail markets will attack and demand will keep prices steady. Choice Inside Top Rounds may decrease slightly while Select should hold steady. Choice and Select Lip On Ribeyes, Boneless Striploins, Top Sirloin Butts, Tri Tip, Flap Meat, and PSMO Tenderloins should begin to decline as summer grilling comes to a close.Choice and Select Ball Tips are expected to hold steady for the forseeable future. Chuck Rolls, and Briskets are weak right now. Outside Skirts, Commodity Trim gradual increase Outside Skirts moved up slightly as demand continued to outpace supplies. The expectation is still some downward movement as we get past the holiday time period.
Pork Market Update
The pork market softened a bit, however this will be brief as pricing starts to increase on loins and ribs with demand for Labor Day. Pork Bellies are remaining high as retail is featuring bacon specials.
Central and South American Shrimp steady White Shrimp: Latin American HLSO white shrimp are steady at listed levels with the exception of 16-20 count which may be discounted. Asian Blk Tigers steady 13-15 through 26-30 count HLSO black tiger shrimp remain unsettled as some off erings trend lower against lower white shrimp. Vannamei Shrimp (Asian, So Amer,Indian) steady "Asian white shrimp are about steady but with an unsettled undertone. Urner Barry 6/7/12.
Availability of Cod items has not changed much in the last few months. There has been little to no production of Cod Loins and supplies will remain short until we get into the B Season full-swing. (June Update)
Pollock steady "Alaskan Pollock B season is scheduled to begin on June 10th. Please note that 4-oz Pollock loins could remain tight due to inadequate fish size. (June Update)
Salmon Wild/Farm Raised steady The Chilean Fillet: The Chilean fillet market adjusted lower on the higher end of quotations today. Supplies range adequate to fully adequate for a quiet demand. Market participants report that supplies in the Miami spot market are readily available and some still lower off erings are noted on all sizes. Carried fish is also remains available in the spot market. Inventory positions do continue to vary greatly from seller to seller. Urner Barry 7/5/12. Chum/Keta: Fishing begins in June with a forecast for Keta landings to be similar to, or slightly higher, than last year. (June 2012). Sockeye Salmon: Sockeyes continue to trend lower; record breaking harvests are improving supply rapidly and a few still lower off erings are noted Urner Barry 7/5/12. Coho Salmon: Prices remain very firm on Coho due to the short harvest in 2011. The new fishery will begin in August. Prices are anticipated to be strong once again in 2012. (June 2012). Pink Salmon: Inventories of 2011 salmon remain in good supply. Fishing begins in July with reduced landings forecast. (June 2012)
Crab steady "Canadian Snow Crab: The market remains very steady at listed levels. Urner Barry 6/21/2012. Dungeness Crab: Supplies are adequate to barely adequate for a moderate demand. Urner Barry 7/5/12. Low inventories balance low sales volumes as buyers wait for opportunities at lower pricing, driven either by inventory blow outs or the Canadian season, which opens in June. (June 2012) King Crab: The market continues to trend lower on 12-14 and 14-17 count red king crab; supplies are fully adequate for a dull demand. With the exception of 20-24s, the golden king crab market adjusted lower on all sizes. Again supplies are fully adequate for the same quiet demand. Urner Barry 7/5/2012. Pricing is inching lower each month as slow sales, high inventory costs, and some new fishing in Russia is making holders of the crab more nxious to move on. (May 2012) AK opilio: The market continues to adjust lower on 8-up crab. 5-8s have also trended slightly lower. Ice a ecting harvesting has moved and supplies are starting to become more available. Urner Barry 3/27/12."
Scallops steady "The market continues to trade within previously listed levels, with only some exception. The quotation for Dry U10’s was lowered to refl ect increasing availability. Urner Barry 7/5/12.
Oil & Shortening Market
Corn price is rising. Soybean Oil gradual increase The soybean complex posted new highs for the move this week (all time highs in the meal) as collapsing U.S. crop condition ratings brought additional buying into the markets. The hot and dry weather pattern across much of the Midwest continued throughout this week and further declines in crop conditions are likely on Monday’s report. Soybean oil prices garnered additional support from the announcement of a 35,000 ton old crop sale of U.S. soybean oil to China. In addition, a 120,000 ton sale of U.S. old crop soybeans to China was announced today.