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chicken

CHICKEN MARKET

What’s up in the chicken market?

Not only has labor continued to play a role in strengthening the chicken market, but weather has chipped in now too. Multiple jumbo plant closures at the end of last week have cancelled loads due over the weekend and early this week, putting product into an even shorter position. Bnls breast leads the pack as the tightest and most desired item, followed by tenders. Wings are firm, and wogs, though showing some market weakness, continue to perform at record levels.

What's happening next week?

Expect more of the same this week. Most areas are short of full needs, and that looks to continue this week.

It’s Playoff time! What is your favorite Game time snack

I’m easy to please…wings!

Man sitting in front of a dry erase board and window  wearing a black best.

Ryan Baldwin

Poultry Procurement / Sales

Cell: 410-241-8162

Office: 410-727-6210 ext. 115

rbaldwin@statestreetpoultry.com

beef

BEEF MARKET

What’s up in the beef market?

As we move further into January and the Omicron variant of the COVID virus moves across the country, one would think that we would be better able to anticipate how business might react to the evolving situation. That being said, the public seems to be reacting to this variant very differently than they have with the previous ones. While the Foodservice sector is certainly feeling that the public is less inclined to go out to eat, and retail business has picked up somewhat, it is not to the same extent as before, and the desire for better quality beef at the Retail levels seems to have waned in the face of substantially higher prices than commodity choices.

What's next week's special?

As the Packers entered the last week, they were already, unlike the previous several weeks, in a great inventory position. With reduced kills and better Retail and Distributor pulls, the Packers have been able to increase the price on every Sub-Primal component of the USDA Choice Cutout

It’s Playoff time! What is your favorite Game time snack

Some Wisconsin cheese curds since the 49ers will beat the Rams this weekend... lol

Man wearing a striped dress shirt and sweater taking a selfie in a mirror.

Andreas Conquest

Director of Beef Procurement

Cell: 770-864-2716

aconquest@statestreetpoultry.com

seafood

SEAFOOD MARKET

What’s up in the seafood market?

Same song and dance… this round of Covid has started to creep back into the ports, processors and labor forces causing minor delays right now.  The effects of todays problems won’t be felt until later down the road since it takes 8-12 weeks to ships to finally reach our ports.  We will keep a close eye on things and continue to monitor the logistical nightmares we have seen over the last year.

Thoughts for next week?

Certain species of shrimp continue to be plentiful and we haven’t really seen much delay in this category.

It’s Playoff time! What is your favorite Game time snack

Buffalo Wings!!!!!

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Mike Palmer

Seafood Procurement / Sales

Office: 410-727-8428

mpalmer@statestreetpoultry.com

pork

PORK MARKET

What’s up in the pork market?

The pork cutout showed strength last week as hog slaughter levels remained constrained by COVID outbreaks. During the first two weeks of the year, hog slaughter was down 9.9% Y/Y. Daily slaughter rates have improved this week suggesting some facilities have started to turn the corner on COVID related issues

 

Thoughts for next week?

Cash hog prices, as measured by the negotiated price, showed some weakness at the end of last week – but remained up 21% Y/Y. However, cash hog prices moved higher progressively through December and have rallied even since the beginning of the year – even with COVID related slaughter issues

It’s Playoff time! What is your favorite Game time snack

Some Wisconsin cheese curds since the 49ers will beat the Rams this weekend... lol

Man wearing a striped dress shirt and sweater taking a selfie in a mirror.

Andreas Conquest

Director of Beef Procurement

Cell: 770-864-2716

aconquest@statestreetpoultry.com