This week’s Legacy Market News Update contains information regarding the flour and egg markets as well as the supply and demand of various types of produce. There is also an ample amount of information about the economic landscape for meat products. Here are some important keynotes to highlight for this week:
GREEN ONION: We are still seeing quite a bit of dead plants due to extreme heat and heavy winds. We are down over 35% of budgeted volume this week. We expect the market to see a rise in price as local deals back East begin finishing over the next 2 weeks, increasing demand.
PEPPERS: Green bell volume will be steady out of California. Demand is very strong on Xl sized bell pepper. Red and gold bell pepper will be steady this week with production out of Oxnard and Gilroy.
ROMA TOMATOES: Supplies have shortened this week, causing the markets to push upwards. Many Mexican Roma’s crossing through McAllen have quality problems. The Baja, Mexico shippers only have enough to cover contracts. Roma’s are short in the United States, as well. Central California has some Roma’s, but they do not have enough volume to take the pressure off. Unless demand falls off, we should see higher Roma markets for the next few weeks.
MEAT PRODUCTION: Production is down for all types of meat, from turkey, chicken, beef, pork, and lamb, especially compared to last year. Prices are fluctuating between the different types.
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