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MARKET
UPDATE
SYSCO - West
Coast Florida's Resource Center
October 22, 2007
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CHICKEN
The market is bobbing and weaving its way through this week
finding enough support to keep things moving without much arm
twisting. Wogs and whole birds are much steadier and at times
tighter than meets the eye. Breasts and tenders are steady. Dark
meat is also steady. Slight improvement is noted on chicken
wings but there's no real momentum and a mostly steady undertone
results.
VERY IMPORTANT UPDATE
BLUEBERRY HARVESTS
Pacific Northwest blueberry harvests are very, very low as rain
has dominated that region for the last two weeks. We are looking
at a very tight, small supply of Bellingham, Washington and
Sandy, Oregon Blueberries for about one week.
The natural transition is to South American blueberries, first
from Argentina, then from Chile. The big challenge currently is
unusually cold temperatures in what is the South American
Springtime starting next week there will be at least a 10 day
gap in production. Please recognize this short term interruption
in your blueberry ordering. We appreciate your flexibility in
loading locations and for making necessary amendments from
higher volumes.
DAIRY
Heavy milk supplies in California are reportedly
stretching their processing capacity to the limit and more
milk is going out of the state to find a home. In some cases
farm milk is not being picked up because processors do
not have the space to handle it. Meanwhile, in the central part
of the country output is rebounding from the record heat of the
prior week.
Temperatures have returned to seasonable levels with some parts
of Wisconsin getting their first frost. Production in the
southeast is steady to lower, and spot shipments of milk
into this region were very strong. A total of 441 loads were
shipped into the region as compared to 378 last week and 297
last year. Fluid milk consumption seems to be leveling
out now that consumers are getting used to the current price
levels. As a result of the high prices, promotional activity is
helping to move more volumes of milk.
Cheese markets continue to be unsettled. Spot prices
moved lower early in the week, but started to creep higher as
the week went on. Demand for the upcoming holidays should start
to show up in orders over the coming weeks. Production of
cheese - particularly cheddar - has been down much of the
year in favor of butter and NFDM production. The drop in dry
whey prices may be helping cheese manufacturers' bottom lines
somewhat, but it appears whey prices may be bottoming out as the
week to week decreases have been shrinking. World cheese
prices held last week.
Butter markets are weak. Prices at the CME hit the lowest
price since February of this year. Butter production continues
to be heavy because of strong cream supplies with more
production is going toward the products destined for export.
However, this does not appear to be causing much of a dent in
inventories. CME weekly butter stocks only declined by
2.5 million pounds last week, and are about 30 million pounds or
33% greater than last year. |
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