Commodity forecasting highlights from CommodityONE
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Poultry
Boneless breast and thigh prices increased again last week. Wings remained weak, and whole bird pricing was unchanged. Harvest volumes and ad activity continue to influence market trends.
Outlook: As we enter peak summer demand, supply tightness and cross-channel promotions are expected to support current white meat pricing levels.
Beef
Significant increases were seen across the beef complex. Tenderloins, strips, and grinds posted solid gains. Trim values also trended upward.
Outlook: With harvest rates lagging, beef prices are expected to remain elevated. Procurement teams should monitor for potential further inflation.
Pork
Pork prices varied. Ribs and loins moved higher, while butts and bellies softened. Trim pricing was mixed.
Outlook: Domestic demand is providing price support. Caution is warranted as exports remain volatile.
Seafood
Pollock pricing dropped 7% m/m, now near seasonal lows. The multi-month downtrend is likely bottoming out.
Outlook: Pricing may turn higher through the second half of the year. Consider current levels for contract coverage.
Produce
Produce pricing was steady. Roma tomatoes held firm, iceberg ticked higher, and avocados declined. Yellow onions may see mild support soon.
Outlook: Barring weather disruptions, stability is expected across core categories.
Dairy
CME cheese and butter markets trended upward. Milk supply remains strong, and export activity is helping maintain overall demand.
Outlook: Expect continued moderate increases. Procurement teams should watch for regional fluctuations in foodservice demand.
Grain
Wheat drove grain markets higher last week, fueled by global currency shifts and weather concerns.
Outlook: Grains remain sensitive to macroeconomic factors. Monitor hedge positions and price coverage into Q3.
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