Market Trends with Tracy
In foodservice, making smart menu decisions can be the difference between open, and closed. Follow along each week as we try to make sense of the many links in our food service supply chain, and how that affects the food you serve. Saval Foodservice's own veteran purchaser, Tracy Anderson, takes you through the major market updates.
Saval Foodservice is a broadline foodservice distributor located in Elkridge, Maryland, and has been a family-owned & operated business since 1932. We serve the area's independent restaurants, caterers, delis, hotels, and other eateries. Our products range from fresh produce, seafood, custom-cut meat, groceries, beverages, our own line of Saval Deli delicatessen products, and cleaning supplies.
We created this podcast in 2020 to keep our customers informed of the suddenly volatile market. Market Trends with Tracy is written & recorded by Tracy Anderson. Produced & Edited by Deanna Segreti and Shelby Reister. For questions or inquiries about the show, email sfssocialmedia@savalfoods.com
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Market Trends with Tracy
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BEEF: Last week’s harvest was 59K head. I thought the prior week of 512K was low, so let's take another step down, with packers keeping pressure on availability with less product available. This puts our year-to-date output down 8.1%. A pretty sizeable decline. They seem to be pretty effective, as pricing is moving higher next week; I think we’ll continue on this ramp-up right into Labor Day. After that, I do think we’ll see a reset on many items. Right now, ribeyes and tenderloins are leading the market higher. Chucks and rounds are up a bit; briskets have found support moving higher. We do see some declines in flanks and sirloin flap… and ground beef is down again. I’d continue to stay ahead of your needs, but not too far out; better pricing is coming in September.
POULTRY: Chicken is moving back up. Up for next week: boneless skinless breasts and party wings. Tenders, however, have another week moving lower. Production continues strong, though I do hear we could see some lower production numbers in the last quarter. But right now, chicken is moving out, and there is strong demand. On the avian flu, one new case affecting 75K turkeys. It was a good three-week run.
GRAINS: Black Sea violence is keeping wheat prices moving higher, with two Russian grain terminals hit. Corn is moving up a bit, with the close today at $4.69/bushel, up from last week's $4.51. Soy is trending about the same as last week. I was hoping we’d see continued declines, but it looks like we are at the bottom of this market, at least for now. Grains will continue to be a strength for our domestic market.
PORK: Pork bellies should be about topped out here, with today’s close of $166 up from last week's $164. The next move should be lower; it's just how quickly this decline will go. The rest of the pork complex is moving a few pennies down on butts, loins, and ribs.
DAIRY Another split on the dairy markets, today’s CME close had the barrel down 1, but block ticks up 6. Butter declines 2. I don't see much that should be pushing this market higher, so we’ll see where this goes.
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