Food Business News - May 21, 2013 - 53

Market commentary for two-week period ended May 17, 2013

Meat and Poultry
The U.S. Department of Agriculture’s
boxed beef cutout values continued to set
record highs, nearing $209 a cwt late last
week, up 4% during the past two weeks
and up 9% from a year earlier. Gains were
led by sharply higher prices of rib and loin
cuts, while trimming prices eased slightly.
Price advances were spurred by tight
supplies and finally warmer weather ahead
of the “official” start to the summer grilling
season during the Memorial Day weekend.
But there was concern about consumer
resistance to the high prices, especially
with gasoline prices also jumping higher
ahead of the holiday.
U.S.D.A. pork cutout values advanced
about 6% during the past two weeks and
were up 12% from a year ago. Demand
ahead of the summer grilling season also
supported pork values, with pork also seen
as a lower-cost alternative to beef.
Prices of chicken breasts, an even
cheaper grilling alternative to beef, also
posted strong advances. FBN

Vegetables
Spot trading of processing potatoes was
inactive with shipments on pre-arranged
contract. Potato planting in Idaho was 69%

completed on May 12, just ahead of 66% as
the 2008-12 average for the date. Planting
in Washington was 90% completed, about
average for the date, and planting in Maine
was 50% completed, well ahead of the 20%
average due to “ideal” weather, state field
offices said.
Tomato paste prices were unchanged. FBN

Fruits
Offers of apples to processors remained
heavy in Washington with trading still fairly
active and prices unchanged, according to
the U.S.D.A.
Warmer weather in most areas allowed fruit
development to catch up after a slow start due
to the lingering cold. The peach harvest was
expected to begin in Georgia last week.
Cherries were early in the Pacific Northwest
with harvesting in California beginning in late
April. Overall, a smaller sweet cherry crop
was expected in the region. Growers forecast
production down about 21% from last year’s
record-large outturn, in part due to the cool
weather and some freeze losses.
Nearby New York frozen concentrated
orange juice futures firmed early last week
then succumbed to profit taking to end
the week about steady. Prices have traded
between $1.40 and $1.45 a lb since mid-April
with little new fundamental news to move

Meat and poultry
Central, f.o.b. plant, $ per cwt
Beef
Cutout value, 600-900 lbs
Ribeye, 112A, heavy
Loin strip, 180 bnls, heavy
Trimmings, 90% fresh
Trimmings, 50% fresh
Pork
Cutout value, 185 lbs
Trimmings, 72% frozen
Trimmings, 42% frozen
Ham, 20-23 lbs
Bellies, 16-18 lbs
Chicken - cents per lb, Northeast
Breast, bnls, skinless
Wings
Thighs, bnls, skinless
Trimmings, 15%-20% fat
Leg quarters, skin on
Turkey - cents per lb
Breast, 4-8 lbs, bnls, skinless
Tenders, destrapped

— Change from —
May 10
May 3

Year
ago

208.77
685.25
694.50
199.00
95.00

+3.79
+26.25
+8.50
+0.75
-0.25

+8.19
+60.50
+61.25
-1.00
-2.50

191.10
604.50
528.50
230.00
49.75

92.38
59.50
47.00
69.00
160.00

+3.03
+8.00
-1.25
—
+5.00

+5.20
+11.00
+7.00
-3.00
+10.00

82.68
75.00
52.00
68.00
90.00

201.25
132.00
142.75
31.66
53.75

+11.00
+2.50
+0.25
—
-0.75

+19.75
+1.50
+1.50
-0.27
+0.50

150.25
177.75
139.50
25.23
54.75

151.00
152.00

-4.00
—

-4.00
+3.00

193.25
189.00

Peanut planting in the eight major states
was 19% completed as of May 12, behind
49% at the same time last year and 33%
as the 2008-12 average for the date, the
U.S.D.A. said.
U.S.D.A. national posted peanut prices
were unchanged during the past six weeks
and were about 58% below year-ago levels.
Almonds, walnuts and pistachios were
developing in California. Oregon nut crops
(mainly hazelnuts) were early this year, the
state U.S.D.A. field office said. FBN

Dry Edible Beans
Dry edible bean prices were mostly unchanged, except pinto beans, which were
steady to $1 a cwt lower, black beans, which
were steady to slightly higher. and great
northern beans, which were steady to $3
higher. Supplies of great northern were tight.
Trading and movement were slow as growers
focused on planting, the U.S.D.A. said. Warmer,
drier weather allowed good planting progress
after a slow start to the season in most states,
although planting was barely under way in
several states at the start of last week. FBN

— Change from —
May 17
May 10
May 3
Potatoes (For processing f.o.b. growers, Russett, bulk, $ per cwt)
Idaho (french-fry quality)
...
...
...
Michigan (chippers)
...
...
...
Maine (chippers)
...
...
...
Tomato paste (31%, 300-gal bins, cents per lb)
California
33.50@35
—
—
East coast
50@55
—
—
Onions (Spanish, jumbo, $ per 50-lb sacks)
Idaho/Oregon
...
...
...
California
9@10
—
—

Year
ago
10
...
...
34@36
50@55
...
6@8

Fruits
Apples (Delivered to processor, $ per cwt)
Washington, peelers
9@11
Washington, juice
3@4
Michigan, peelers
...
Michigan, juice
...
Mid-Atlantic, peelers
...
Mid-Atlantic, juice
...
Cherries ($ per 20-lb carton)
Washington (Bing)
...
Pears ($ per 40-lb carton)
Washington (D’Anjou, 100s) 24@28

—
—
...
...
...
...

—
—
...
...
...
...

12@14
11@12
12.25@22
7.50@12
...
10@14

...

...

...

+2

+2

16@18

Nuts

Dry edible beans
f.o.b. dealer prices, $ per cwt, bags

May 21, 2013

Nuts

Vegetables
May 17

Pinto, Colo./Neb./Wyo.
Pinto, N.D./Minn.
Great Northern, Neb.
Navy, N.D./Minn.
Lt. red kidney, Mich.
Dark red kidney, Minn.
Black, Mich.

the market, although citrus greening disease
remains a threat to the Florida crop. FBN

May 17
40.00 @ 43.00
39.00 @ 41.00
55.00 @ 58.00
41.00
63.00 @ 64.00
...
45.00 @ 46.00

— Change from —
Year
May 10
May 3
ago
-1@0
-1@0 64.00 @ 68.00
—
—
55.00 @ 58.00
0@+2
0@+3 53.00 @ 56.00
—
—
54.00 @ 55.00
—
—
...
...
...
65.00 @ 68.00
—
0@+0.25 46.00 @ 47.00

f.o.b. shipping point, cents per lb
May 17
— Change from —
$/ton
cents/lb
May 10 May 3
Peanuts (U.S.D.A. weekly national posted prices, 2012 crop)
Runner
424.65
21.23
—
—
Spanish
408.91
20.45
—
—
Valencia
428.17
21.41
—
—
Virginia
428.17
21.41
—
—
Almonds, California
…
…
…
…
Pecans, Southeast
…
…
…
…

Year
ago
49.98
49.54
50.16
50.16
…
…

FOODBUSINESS NEWS

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53
Food Business News - May 21, 2013

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