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
The Pork Belly Race is On
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BEEF The beef market continues its summer pull back. Overall market tone is moving lower. I expect we will see this through the end of the month; come August we’ll be starting to look at fall demand. Unbelievable, already talking about fall. Last week’s harvest was 529K head, up from the holiday week of 448K. Middle meats are leading prices lower, especially ribeyes and strips, tenderloins are down but not near the movement lower on ribeyes and strips. Grinds are holding steady for a week, but still this is a product with strong demand and pricing will be moving higher. End cuts, rounds and chucks are moving nominally lower; demand isn’t strong this time of year, but restricted production keeps pricing propped up a bit. I’d stay ahead of my needs, but overall pricing is moving lower.
POULTRY The overall feel of the chicken market is demand is stronger than supply. Wings are getting a strong push up next week. Randoms and tenders holding steady, but I do expect their next move will be higher. On the avian flu front, another 275K egg layers removed from the food supply.
GRAINS Soy oil is holding onto all the gains from last week when the market started moving higher. Corn closed up at $4.67 over last week’s $4.48. Wheat moving higher as well. Most of this is reaction to international disruptions, still not ready to say everything is breaking higher but I’m watching.
PORK The pork belly run higher is on, today’s close $147 up from last week’s $132. I expect this late start to the summer belly increase will run well into August. Butts, ribs, and loins are all staying about where they are, keeping pork a good protein value.
DAIRY The CME continued last week's move higher on cheese. Through Thursday’s close block is up 8, barrel is up 4, and butter is down 2. Summer is not usually the time of year we see cheese markets surge higher; we’ll see if this continues.
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