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Market Alerts & Produce Updates

For the Week of November 28, 2022

The following updates and alerts were culled in collaboration with our growing family of brands. Scroll through both lists to help prepare for upcoming obstacles and opportunities.

Market Alerts

Grains
With weaker crude oil futures and improved logistics along the Mississippi River, soybean oil moved marginally lower last week. Canola seed futures in Canada decreased as a result of declining Chinese demand. Although demand is low and stockpiles are strong, Palm climbed slightly higher.
Dairy
Butter prices are stable as long as demand is strong. Markets for shell eggs are still rising despite last week’s new AI epidemic. Despite strong demand, cheese markets are shrinking. Due to the recent decline in butter markets, cream and culture prices are falling for December.
Beef
As the week goes on, buyers are applying the breaks as packers offer cheaper prices. Due to limited supply and ongoing seasonal demand, ribs and tenderloins remain popular. Strips continue to trade steadily because purchasers seem to be living off-the-grid and using them as middle-priced meat at a cheaper price point. Chucks and rounds are still reflecting a softer tone on quality supplies.
Pork
Although butts are trading sideways, retail may offer some support, causing the market to stay flat. The rib complex is still suffering from high cold storage levels; thus the market should remain sluggish. Butts and loins saw some sideways movement and may appear in advertisements for goods shortly. The market is being flooded with fresh bellies as cold storage capacity keeps expanding.
Poultry
The time of year when there are the most wings available is called “wing season.” Product is easily accessible, and tender availability is rising. Seasonally low breast prices will persist through the end of the year but estimates for slower production will result in a supply shortage. Thigh meat without a bone is widely accessible.
Seafood
White and Tiger shrimp is saturating the market as demand has slowed. There are excess inventories in the US market. Lobster season has begun in Nova Scotia, resulting in larger tails. season. Some importers are selling their inventory at a loss.

Produce Updates

Cooler weather, rainfall, multiple hurricanes, and growing region transitions have considerably impacted overall yields through most growing regions resulting in volatile markets across many commodities. We will likely see markets remain higher for the remainder of the year. Out of the Yuma, AZ, growing region, temperatures have been very cool over the past several weeks. These cooler temperatures are resulting in slowed crop maturation and some quality issues. Additionally, the mixed vegetables are seeing volatility due to past weather events and growers reaching into fields earlier than expected. Furthermore, the cooler temperatures are causing early morning frost, which continues to slow morning harvests. Supplies have increased slightly. However, higher pricing is expected to continue for the next 2-4 weeks.
Artichokes
Expect lighter supplies to continue over the next several weeks.
Arugula
Lighter available supplies, market continue stronger. Expect unstable supply to continue through mid-December due to the cooler weather in the desert.
Asparagus
Mexican production remains unchanged from last week; Jumbo size is very limited out west. Peruvian production remains good on all sizes. This trend should continue for the next three weeks. Markets are less active this week with the Thanksgiving Holiday rush wrapping up.
Beans, French
Demand exceeds supplies from Mexico and Guatemala; quality is fair to good. Rain has subsided in Guatemala, but cooler weather has slowed down production.
Broccoli
Expect lighter supplies to continue over the next few weeks as the cool weather is slowing growth. Expect pricing to continue very active.
Cabbage, Green/Red
Lighter supply with good quality. Market continues active out of California with higher pricing.
Cauliflower
Supply continues to be limited because of slower growing conditions from the cool weather. Overall quality is good but expect continued uniformity issues. Outlook is for Cauliflower availability to remain extremely light through next week.
Celery
Supplies are lower than expected from adverse growing conditions due to weather, and diseases that have affected yield. Low to moderate supplies are expected over the coming few weeks with a very strong and firm market.
Cilantro
Supplies are expected to remain light as Salinas has finished for the season and available supplies are not expected to improve until after the Thanksgiving Holiday.
Herbs
Quality and production remain good from Mexico, and CHIVES production has improved. Imported CHERVIL production has continued to be affected by the weather. Domestic production remains the same.
Lettuce, Green/Red
Leaf Supply remain short as cool weather is slowing growth although we expect to see supply slowly increase over the next 10 days. Sizing remains on the small side, but quality is good.
Lettuce, Iceberg
It has been very cool in the desert and the lettuce crop is not growing as we've had almost two straight weeks of lettuce ice in Yuma We are seeing uneven fields with light weights, small frames, and it is very leafy, and solidity is very soft at this point. The market continues to be extremely active and is forecasted to stay the same through mid-December.
Lettuce, Romaine
The quality and condition of the crop are good. Some seeder pressure remains in the early crop. Weights are light and size is medium to small. Heart packs will continue to be challenged due to seeder pressure, but the market is adjusting to some better supply in industry.
Mushrooms
Quality is good despite supply being lighter than expected. We continue to see lack of labor, shortages in component of growing such as peat moss and other inflationary pressures. We expect to see this continue to be a challenge until some of the growing costs can get under control of this particularly labor intensive and cost sensitive item.
Peppers, Green
Stable supply expected over the next week and overall quality has been good. Product available in South Florida, Coachella and Nogales.
Potatoes, Russet
Potato demand has flattened this week, in large part due to it being Thanksgiving week. Buyers have finished their purchasing in advance of the holiday logistics challenges, and interruption in shipping schedule. The potato market continues to remain tight, but pricing does appear to have leveled off for the time being. Pricing continues to hold at record levels on just about all sizes/grades for this time of year.
Squash, Yellow/Zucchini
Mixed markets this week, yellow squash is firmer while Zucchini remains stable. In Nogales, and Florida. Quality is mixed and seeing some prominent scarring on product in the east and good quality out west. Yellow squash is tight and will be for the next week.

Potatoes Market Alert

November 11, 2022 – The current potato crop in Idaho is anticipated to be at a record low level due to acreage reductions and non-optimal weather conditions during the growing season. Total planted acres in the U.S. are down for the 2022 season (LY 2021 = 943,000 | TY 2022 = 910,000).

Specific to the Idaho potato industry, acreage went from 315,000 to 290,000 acres (approximately an 8% reduction). Due to acreage reductions, the unseasonably cold weather during planting, and the abnormal heat during the growing season impacted yields; the 2022 potato crop will be very limited this season.

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