Trends & Recipes
Market Update -May 17, 2013
Fresh Produce-Bonni Douglass Ext.1914
Lettuce- Supply is good, quality is decent.
Squash- Green squash up slightly, yellow squash is comming off.
Citrus- Market is up on Lemons and slightly up on Limes and Oranges.
Tomato- All markets are up – short Florida and Mexican Product – rain is a problem.
Mushroom- All NYS supply is good.
Peppers- Up with Good Quality.
Beef, Poultry, Dairy, Oil, Flour, Cheese, Butter, Sugar-Neil Sheehy Ext.1924
Top Butts-Top Butt prices are stronger on Choice and steady on Select and No Roll. Expect prices on all grades of Top Butts to remain steady or move higher later this week into next week.
Ribeyes-The market is stronger on all grades and sizes of Ribeyes, especially on Choice. Expect higher prices on all sizes and grades over the next two weeks due to tight supplies and good demand.
Flanks- Prices were stronger last week on all Flank Steaks. Expect prices to remain strong as we into next week due to strong demand.
Poultry- Breast markets are at all time highs with no end in sight. Wing prices are very inconsistent. One week down, one week up in price. It looks like this trend may continue into June.
Milk-Cool temperatures are delaying pasture growth in the northern states, which is causing farms to stretch out already depleted hay supplies. This increased cost of feed will continue to tighten farm margins. This could be a factor that slows down the rate of growth in milk production.
Oil-Market estimates of a huge S. America harvest and improving weather and soil conditions positioned against an extremely tight domestic soybean and meal supply kept soy oil prices locked in a narrow trading range this week. Market estimates of a huge S. America harvest and improving weather and soil conditions positioned against an extremely tight domestic soybean and meal supply kept soy oil prices locked in a narrow trading range this week.
Flour-Spring wheat futures have been steady this week, while winter wheat futures lost some of the ground they gained last week. Spring wheat and corn planting are both far behind average for this time of year. Forecasts may have turned favorable though, and it is expected that farmers will move quickly once they can plant.
Cheese-While export demand is strong, domestic demand is reportedly weaker. Higher prices may have wholesale buyers more hesitant to purchase in anticipation of a decline, but retail demand is also reported to be lower.
Butter-Butter markets are weak. Spot CME butter markets moved lower in every trading session over the past week as sellers methodically eased prices lower. Butter inventories are increasing at a rapid pace, which is the main reason for the pressure seen on the market recently.
Sugar-Imported Sugar still controlling the markets! Next move should be lower again.
Fresh Seafood – Rick Knapp ext. 1935
Cod-The Maine cod-fishing quota for 2013 has been reduced 77% and the George’s Bank cod quota has been reduced 61% for this year. Here in Maine, fishermen who went out 100 trips last year will make between 15 and 30 trips this year. These reductions place the 2013 totals at about 6% of the 1981 cod quotas. The effects of these quota reductions will be substantial and far reaching.
Tuna-With the arrival of spring, the new tuna fish season will begin in a few short weeks. Bristol Seafood is hoping this year’s season is a repeat of last year’s, which proved to be very strong. The worldwide demand for tuna remains high, so imported fish prices are expected to be much higher this coming season.
Salmon-There are big changes in the world of salmon caused by the historic low prices of recent times. On a global level, the aquaculture farmers collectively agreed to an inventory reduction between 15% and 20%. This smart business strategy has increased the demand and in turn is driving up the prices. There really was no other choice. With the increase in price for feed needed to raise their schools of salmon, this whole industry was facing profit losses which would have been disastrous for the farmed salmon market.