Edit ModuleShow Tags
Edit ModuleShow Tags

Commodities Report



The commodity markets have mostly been sideways to firm during the last month, led by the grain complex. Optimism around a trade deal with China has brought support to the soybean complex at times, with nearby soybean oil futures climbing to seven month highs. But the ample feed supply is projected to persist in the U.S. for the foreseeable future. The South American crops are progressing, with dry weather causing concerns with the Brazilian soybean crop. However, 2019 South American feed production is expected to be notably larger than the previous year due mostly to significant output gains in Argentina. Thus, the trade will shift their focus to U.S. weather in the coming months. At this point there is little reason for concern. The domestic winter wheat crop is progressing under favorable conditions and the Midwest is forecasted to remain relatively drought-free through at least April. Cheese prices have continued to trend at historically low levels despite a smaller milk cow herd. But class IV milk futures are tracking well above class III. This can be a warning signal that higher cheese prices are pending. In years when class IV milk has been above class III, there has been at least a modest premium in cheese prices. Protein supplies have been erratic during 2019 so far due in large part to slowed chicken production growth. Through January, the six-week total of chicken output was just 0.2 percent bigger than last year. This has propelled various chicken markets upward, including breasts and wings.  As of the Super Bowl, wing prices were tracking at their most expensive levels since the fall of 2017. Margins have improved considerably for chicken producers in recent weeks. Plus, more production capacity is expected to come online later this year and in 2020.  These factors should encourage year over year chicken output expansion later this year, which could weigh on the chicken markets. Strong demand may underpin beef prices at times while big pork supplies could temper the upside in the pork markets. 

 

BEEF-Prices are by the pound and based on f.o.b. Omaha carlot.
2/1/19 1/10/19 Difference 2/8/18
Ground Beef 81/19 1.94 1.84 0.10 1.75
168 Inside Round (ch.) 2.18 2.10 0.08 2.13
180 0x1 Strp (choice) 5.50 5.30 0.20 5.16
112a Ribeye (choice) 7.63 7.71 <0.08> 6.76
189a Tender (select) 10.29 10.44 <0.15> 9.31
189a Tender (choice) 10.32 10.25 0.07 9.29
Veal Rack (Hotel 7 rib) 8.88 8.88 - 7.70

 

OIL AND RICE-Prices per pound based on USDA Reports.
2/1/19 1/10/19 Difference 2/8/18
Crude Soybean Oil .295 .279 0.016 .316
Crude Corn Oil .257 .260 <0.003> .317
Rice, Long Grain .240 .240 - 0.257

 

DAIRY-Prices are by the pound and based on USDA reports.
Cheese 2/1/19 1/10/19 Difference 2/8/18
American 1.26 1.39 <0.13> 1.41
Cheddar (40#) 1.47 1.51 <0.04> 1.56
Mozzarella 1.55 1.58 <0.03> 1.63
Butter(AA)
One pound solids 2.29 2.23 0.06 2.09
Class II Cream
Cream 2.57 2.44 0.13 2.34

PORK-Prices are by the pound and based on f.o.b. Omaha carlot.

2/1/19 1/10/19 Difference 2/8/18

Belly (bacon) 1.17 1.38 <0.21> 1.32

Spare Rib (3.5& down) 1.42 1.39 0.03 1.42

Ham (23-27#) 0.48 0.46 0.02 0.58

Bbybck Rib (2-1.75#) 2.24 2.18 0.06 2.13

Tenderloin (1.25#) 1.79 1.82 <0.03> 2.13

 

POULTRY-Prices are by the pound except for eggs (dozen) and based on USDA reports.
Chicken 2/1/19 1/10/19 Difference 2/8/18
Wings 1.88 1.61 0.27 1.75
Bnless Skinless Breast 1.05 1.04 0.01 1.09
Eggs
Large 1.27 1.20 0.07 1.85
Medium 0.90 0.66 0.24 1.36
Miscellaneous
Whole Turkeys (8-16#) 0.83 0.81 0.02 0.80

 

PRODUCE-Prices are by the case and are based on USDA reports.
2/1/19 1/10/19 Difference 2/8/18
Limes (150 ct.) 11.00 14.50 <3.50> 21.00
Lemons (200 ct.) 22.97 23.89 <0.92> 31.00
Cantaloupe (18 ct.) 12.95 12.95 - 8.95
Strawberries (12 pts) 20.63 21.63 <1.00> 12.85
Avocds (Hass 48ct.) 22.25 25.75 <3.50> 37.00
Idaho Potato (70 ct.) 12.25 10.88 1.37 11.50
Yellow Onions (50 lb.) 8.92 8.42 0.50 6.17
Red Onions (25 lb.) 12.44 13.39 <0.95> 13.16
White Onions (50 lb.) 36.94 23.71 13.23 26.73
Tomatoes (5X6-25lb.) 12.95 21.20 <8.25> 8.45
Roma Tomatoes 8.73 14.75 <6.02> 8.37
Green Peppers 20.75 19.42 1.33 11.58
Iceberg Lettuce 7.79 14.53 <6.74> 6.64
Leaf Lettuce 10.81 14.99 <4.18> 7.21
Romaine Lettuce 7.58 8.68 <1.10> 6.83
Broccoli (14 ct.) 7.53 14.93 <7.40> 6.75

 

*Covered party (as defined below) shall not be liable for any direct, indirect, incidental, special or consequential damages of any kind whatsoever (including attorney’s fees and lost profits or savings) in any way due to, resulting from, or arising in connection with the Monthly Commodity Report, including its content, regardless of any negligence of the covered party including but not limited to technical inaccuracies and typographical errors.  “Covered Party” means the American Restaurant Association Inc. and the employees of.  © 2019 ArrowStream

Market information provided by David Maloni of ArrowStream.  ArrowStream is a foodservice supply chain technology company that helps clients capitalize on data to improve their business.  Learn more at ArrowStream.com

Edit ModuleShow Tags
Edit ModuleShow Tags