We have seen some recent price movement in several markets that are driven by either commodity exchanges, or currency exchange rates worldwide. In some cases the movement has been favorable to pricing.
A weaker Euro has affected the price of all European commodities. Cheese prices are beginning to react to the stronger US Dollar. We have lowered the price of a few products to immediately reflect savings, specifically Reggiano, Grana Padano, Taleggio and Manchego Curado 3 month. Take advantage of this opportunity to really put a push on these items.
The beef market continues the roller coaster ride that it has been on all year. While All-Natural Striploins and Ribeyes have stabilized a bit, Tenderloins continue to be difficult to source and expensive.
The beef market continues the roller coaster ride that it has been on all year. While All-Natural Striploins and Ribeyes have stabilized a bit, Tenderloins continue to be difficult to source and expensive.
There doesn’t appear to be much relief in that specific market due to increased exports to Korea, Europe, Vietnam and Russia. These emerging markets are drawing from limited stocks of US produced Natural Beef as Australia’s production continues to lag behind historical numbers due to severe weather patterns over the past two years.
Secondary cuts will remain stable for the most part, with the exception of undervalued cuts like Hanger Steak, Boneless Short ribs, Brisket and possibly Sirloin Flap. Summer sees the strongest demand for Ground Beef and packers are finding themselves upside-down on these cuts relative to price to value ratio.
These packers are hesitant to build in added labor cost and packaging cost to these cuts when they can simply toss them into the grind and still break even.
Expect prices to go up on these cuts in the instances where packers go to effort to put them up. As an example, we have seen Hanger prices jump 100% over a couple of week span from one of our producers.
Pork pricing has remained strong but stable. I do not foresee any dramatic changes in the coming weeks save for the continued stress in Pork Tenderloin.
Pork pricing has remained strong but stable. I do not foresee any dramatic changes in the coming weeks save for the continued stress in Pork Tenderloin.
While Rack sales are up, these increases have not kept pace with the demand for Tenderloin. Belly prices remain high which affects prices for Apple Bacon and Slab Bacon.
There doesn’t appear to be any relief in the near future as Belly supply domestically is outstripped by demand. Value cuts include Butts, Sirloins, Osso Bucco and other secondary cuts.
Phil Fortson
Specialty Brands Manager
Inland Seafood
Phil Fortson
Specialty Brands Manager
Inland Seafood
