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IMPORTANT FOOD MARKET UPDATES:  Week Of May 23, 2022

Source: Uni-Pro Foodservice Market Insights
CATEGORY NEAR-TERM MARKET PRICING TREND SUPPLY vs. DEMAND DSR MARKET INSIGHTS COMMENTARY
Beef (Commodity) Stable Available - Steady With inflation increasing the cost of beef, expectations have lowered going into Memorial week. Overall prices are lower on all Beef cuts when compared to 1-year ago.   
Butter Increasing Available - Strong Persistent strong export demand continues to offset decreasing domestic demand, which is keeping the market within a tight price range.  
Fluid Dairy Increasing - Class 1                  Increasing - Class 2 Short - Steady - Class 1    Short - Strong - Class 2 Inflated May costs on both Milk (Class 1) and Cultured (Class 2) are in place. This cost increase is primarily due to inflated cost of raw milk paid to farmers. COVID-19 inflated input costs, reduced production and ongoing dairy plant closures are reducing industry-wide capacity. Recent closures in FL, SC, TN, & MI.
Cheese Increasing Available - Strong Slow global milk production has driven US cheese exports higher with a record 91.9MM LBS shipped in March 2022, 13% higher versus 2021. Domestic demand continues to remain strong.    
Honey Mixed Short - Strong Due to limited domestic supply, most honey that the US consumes is imported. Government imposed tariffs on all imported honey continue to cause honey prices to be inflated. Inflated prices are expected to continue through summer months.
 Oils/Shortening  Increasing Mixed - Strong Inflated pricing levels continue to prevail on all shortening and oil products. Some high oleic products, sunflower products, canola based products and palm based (cube) shortenings are experiencing limited availability, which is causing supply to be tighter on all other oil types. Tight supplies and inflated pricing is expected through the summer.
Pork (Commodity) Increasing Available - Strong Supply is sufficient, but expect demand to increase dramatically with Memorial Day weekend nearly upon us. Butts, loins, spareribs will increase week-on-week through June.
Pork (Value-Added) Increasing Available - Strong The belly price has bottomed out, the time to buy extra bacon is now as the price from here will increase through Labor Day. Franks, dinner and breakfast sausage will increase over the same period.
Poultry (Chicken) Mixed Mixed – Steady Boneless breasts of all sizes are inflating in price, while whole chickens remain short with limited spot availability. Wings show availability on all sizes with deflation.  An increase in demand for the back half of the bird has caused availability to decrease and prices are inflating.    
Produce Decreasing -  Avocados, Onions & Limes                   Steady - Iceberg, Strawberries, Carrots & Garlic                             Increasing - Romaine & Idaho Potatoes              Available -Steady - Avocados, Romaine, Iceberg, Limes & Onions                            Available - Strong - Strawberries                               Short - Strong -         Carrots, Garlic & Idaho Potatoes Strawberry supplies are in strong demand with steady pricing and nice quality. Avocados supplies are steady with pricing deflating. With onion supply in California increasing and Texas supply finishing production, pricing is still inflated. Carrot supplies are still short with inflated prices. New carrot crop in late May. Domestic garlic continues to experience tight supplies and inflation. Limes are continuing to deflate, but large sizes are limited. Romaine pricing is inflating with iceberg pricing steady. With oranges navels finishing and Valencias (seeds) starting, supplies will be limited. Expect Idaho potatoes supplies to be limited and price inflation until end of season. 
Seafood Decreasing Available - Weak Snow crab prices have deflated by more than $5/lb. since the beginning of 2022 due to large 2021 carry over inventory and Canada's increased quotes for Gulf and Newfoundland fisheries. These two factors resulted in a significant increase in supply and demand still has not recovered from 2021. 
Shell Eggs Increasing Short - Strong Avian Influenza has impacted supply and pricing while creating strong speculative demand.  
Sugar Mixed Mixed - Strong Sugar prices continue to increase in some markets based on demand outpacing supply. Prices on all sugar types (granulated, powders, brown and liquid products) will remain at inflated levels through summer. Products with sugar as a key ingredient will likely experience inflated pricing near term.
Wheat (Flour Based Products) Increasing Mixed - Strong Wheat supply continues to be a world-wide concern. Prices have seen historic increases in recent weeks and will continue to be inflated in the coming weeks. This will cause pricing on all flour based products to continue be inflated.
Disposables (Gloves) Increasing Available - Steady Natural rubber latex will have availability. With minimum wage implementation effective May 1st in Malaysia, this may cause price inflation Q2/Q3 2022. Resin costs remain at historically inflated levels with the Russia-Ukraine war impacting crude oil pricing. Trade war duty exclusions expired late Q4 2021 on poly aprons. Poly pricing is expected to be unstable Q2/Q3 2022.