April 2012
14 posts
2 tags
Meat Market Updates
BEEF
There appears little doubt that the beef market has found its bottom. We
have probably also seen the low for the year of the Choice/Select
cutout. Forward bookings have increased over the last two weeks which
will result in sharply stronger spot market prices moving forward.
Ground beef prices have rebounded from the lower demand created by the
LFTB issue, and appear poised for a...
1 tag
A single case of Bovine Spongiform Encephalopathy...
From our partners at Certified Angus Beef ® brand:
You may have heard media outlets reporting that a single case of Bovine Spongiform Encephalopathy (BSE) was identified in a dairy cow from central California during routine testing by the U.S. Department of Agriculture (USDA). We wanted to take the opportunity to provide you with a few of the facts.
The bottom line is simple: the U.S. beef...
1 tag
KIKKOMAN announces Price Increase
KIKKOMAN announces a Food Service and non-contract industrial Price Increase effective with shipments on or after 7/16/12. This increase is necessitated by the rising costs of raw materials, packaging materials and fuel surcharges. Kikkoman realizes that this is a sensitive issue and has evaluated all items separately – some items may not increase at all. Kikkoman is committed to...
2 tags
Meat Market Updates
BEEF
With kills cut back - last week’s slaughter was the lowest non-holiday
week in 15 years - packers were able to clean up some inventories and
get to a position where they have been able to begin raising prices
(yes-again). Not necessarily looking for huge swings but this week
showed them that there is room to raise their asking prices.
Mostly effected are the loin meats - no...
1 tag
SCALLOP UPDATE:
We are seeing a steady stream of scallop landings even though there was no scallop auction Wednesday. There was approx 300,000 Lbs landed in the 4 days of auctions this week. The majority of scallops are still coming in the as 10/20s. Most boats are fishing the Mid-Atlantic open area with some Hudson Canyon and Channels mixed in. We are in the middle of spawning season and the scallops are...
Import Market update Olives Olive Oil Tomatoes
OLIVES
Overall, the harvested production in Spain was 503,000 mtons, down 15.4%
from the previous year. The two main reasons for this were a lack of
financing at both grower and processor levels, as well as the low
profitability this year for the growers. The fact that they were unable
to cover their costs caused many to leave their crops for olive oil. For
Manzanillas, the harvest was...
Import Update Pineapple Mushrooms Mandarin Oranges
PINEAPPLE
We are approaching the end of the pineapple winter crop with the summer
crop beginning in April. Pricing of raw material remains stable around 4
baht per kilo after the Thai government instituted an incentive to put a
floor on raw material. Their program involves making low cost loans (2%
rate) available to packers that do not pay less than 4 baht for raw
material. If a packer...
Import Update Tuna
TUNA
The three month fishing ban on Fish Aggregate Devices (FAD) is long over
and the floods that flowed through Thailand over the last few months
have ceased. However, catch levels still remain at all-time lows and
market demand remains high. The cost of skipjack has returned to
record-highs from last summer, increasing from $1950/mton in November to
$2100/mton in early January. Chinese...
1 tag
Dairy Markets
Increased milk supplies across the country continue to push cheese production. Many plants are operating at or near capacity to handle the extra offered supplies. Some milk is being offered to cheese plants at a discount to move the supply.
Cheese inventories are building, although export sales have helped to move some excess product. February monthly average prices for barrels and blocks were...
2 tags
Meat Market Updates
BEEF
Packers are searching for the right production levels to stimulate this
market. Demand has just not been strong and unless there is a reduction
in the supply numbers there is just no reason to see a rebound in
prices. We should soon begin to see the Choice to Select spread widen as
we enter a period of the year where the cutout is normally weighted
heavier to the select and no roll...
1 tag
Chicken Wings
Urner-Barry chicken wing prices have held steady at record highs despite the fact that the NCAA tournament is officially in the past. Current spot market prices are up a staggering 143% from a year ago and up 30% from levels seen in April of 2010.
FROM: TOPCO MEAT DEPARTMENT
Thai Pineapple Update
Pineapple growers blockade Thai highway
Thursday March 29 2012
PINEAPPLE farmers in Thailand are to blockade a major highway tomorrow
in an attempt to accelerate government payments for surplus fruit. The
government has already confirmed plans to buy up excess production from
this season’s bumper crop. However, farmers are pressing for the process
to be sped up.
Growers are...
2 tags
Meat Market Updates
BEEF
Middle meats are finally seeing some relief - but many suspect it will
be short lived as it is expected retailers will feature some beef items
for May to coincide with the real start of the grilling season in the
northeast. The very narrow choice to select spread is expected to begin
to widen in the coming weeks as a seasonal period of poor grading comes
into play. Grinds are...
1 tag
Cod limit sliced by 22%
NOAA action sets level at bottom of the range sought by regional council
By Stephanie BergmanStaff WriterThe Gloucester Daily TimesTue Apr 03, 2012, 05:53 AM EDT
The National Oceanic and Atmospheric Administration has set an interim 2012 catch limit of 6,700 metric tons for Gulf of Maine cod for the fishing year that’s set to begin May 1 — essentially affirming the lower end of the range...
