Week Ending August 11, 2017

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Estella Blake
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1 Week Ending August 11, 2017 **Graphs represent data for the week ending August 4, 2017**

DIESEL Diesel Fuel $/Gallon 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 BEEF Market is unsetled. Total beef produc on for last week was up 1.

Live weights for last week were up 3 lbs from prior week, but down 13 lbs from same me last year. Live prices have moved lower this week as catle supplies remain high with only a fair demand.

2 DIESEL Diesel Fuel $/Gallon BEEF Market is unsetled. Total beef produc on for last week was up 1.4% versus prior week, and up 6.8% compared to same me last year. Total headcount for last week was 634,000 as compared to 583,000 for the same week last year. Live weights for last week were up 3 lbs from prior week, but down 13 lbs from same me last year. Live prices have moved lower this week as catle supplies remain high with only a fair demand. Packer margins remain strong, and this is helping to keep produc on high. Choice and higher grading remains very strong which is causing Select and lower grades to be more limited. Current demand has been light but Labor Day is just around the corner, and is typically a seasonally strong me for demand. Grinds- Market is unsetled. Strong produc on has helped to keep downward pressure on the market. This trend is expected to reverse as demand for Labor Day begins to pick up. Loins- Market is unsetled. The Loin Market has seen both ups and downs this week depending on the cut and packer availability. Rounds- Market is weaker. Demand has been light coming into this week. Chucks- Market is weaker. Light demand and good inventories are pu ng downward pressure on the market.

Ribs- Market is unsetled. Pricing is varied between packers based on availability. Demand typically improves over the coming weeks for Labor Day.

3 Ribs- Market is unsetled. Pricing is varied between packers based on availability. Demand typically improves over the coming weeks for Labor Day. Ground Beef Avg weekly $/lb PORK Market is mixed. Total pork produc on for last week was up 0.5% from prior week, and up 2.1% compared to same me last year. Total headcount for last week was 2,250,000 compared to 2,200,000 for the same week last year. Live weights for last week were even with prior week, and even with same me last year. Live prices have been inching lower as produc on remains strong. Export demand is below expecta ons coming into this week, and helping to keep the market more unsetled. Retail adver sing is strong, and demand is expected to be improved as we move closer to Labor Day. Bellies- Market is weaker. The recent extreme high prices have helped to slow demand. Hams- Market is weaker. Export demand is lighter and helping to put downward pressure on the market. Loins- Market is steady to firmer. Retail adver sing is strong and helping to improve demand. Buts- Market is firmer. Overall demand is improved and helping to put upward pressure on the market. Ribs- Market is firmer. Demand for Labor Day is pu ng pressure on the market.

4 20-23 Ham Market Weekly Average $$/lb Pork Butt 1/4 Trim Bone-In USDA Weekly Average FOB Con nued on next page

14/16 # Pork Belly Average Weekly Price Per Lb 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 CHICKEN Market condi ons rated as fair undertone at the start of the week with

5 14/16 # Pork Belly Average Weekly Price Per Lb CHICKEN Market condi ons rated as fair undertone at the start of the week with condi ons picking up as the week winds down. Supplies on some lines have improved and are in balance with current needs. Others, such as tenders, breasts, and breast fronts are rated barely steady to unsetled. WOGs and whole birds are steadier than we ve seen recently. Boneless breasts move at a steady level. Wings are full steady to short, with demand out weighing available product. Jumbo wings trade at all- me highs, with wing season not even kicked off yet. Bone-in dark meat is mostly steady. Drums, thighs and leg quarters are steady, but showing some signs of possible strengthening. Thigh meat trades at full market, with leg meat rated full steady. Es mated slaughter ending week of 8/8/12/17 at million head. Con nued on next page

6 Chicken WOG 2.25 Avg Weekly $/lb Chicken Tenders Avg Weekly $/lb Con nued on next page

TURKEY Majority of trade is considered basic and light on most lines. Whole birds are currently steady with some out front sales reported at slightly higher levels.

Thigh meat is rated no beter than barely steady. SEAFOOD Gulf Shrimp- Market is weaker. Landings are seasonally higher and helping to push dock prices lower.

7 TURKEY Majority of trade is considered basic and light on most lines. Whole birds are currently steady with some out front sales reported at slightly higher levels. Fresh breast meat movement has picked up with trade at current levels. Drums cks are rated barely steady. Hen wings have increased in both movement and value. Product trades are at premium levels. Thigh meat is rated no beter than barely steady. SEAFOOD Gulf Shrimp- Market is weaker. Landings are seasonally higher and helping to push dock prices lower. Browns are seeing the most downward pressure with whites holding about steady. Black Tiger Shrimp- Market is steady to firmer. Raw material prices con nue to rise, and are pu ng addi onal pressure on the market. Inventories overseas are limited. White Shrimp- Market is firmer. Demand is improved over prior weeks with heavy buying ac vity for both foodservice and retail. King Crab- Market is steady to weaker. Inventories are good for a fair demand. Snow Crab- Market is steady to slightly firmer. Demand is good and pu ng pressure on the market. The most pressure this weeks is being seen on 8-ups. Warm Water Lobster Tails- Market is mostly steady. Year to date imports thru June are up 18.4% from same me last year. North American Lobster Tails- Market is mostly steady. Year to date imports thru June are down 2.6% compared to same me last year. Salmon- Market is mixed. The market for farmed salmon is steady. The market for wild salmon is mixed with inventories varying between suppliers. Cod- Market is firm. Inventories are light for current demand. The catch has been below expecta ons and is trending more on larger sized fish. This is pu ng pressure on availability of smaller sizes. Flounder- Market is steady but firm. Inventories are light for current demand.

8 Haddock- Market is firmer. Raw material prices have been increasing, and this is expected to con nue as we move into the fall. Catches have been more on larger sized fish and this is pu ng addi onal pressure on availability of smaller sizes. Pollock- Market is steady. Whi ng- Market is steady but firm. Inventories are light for current demand. Domes c Ca ish- Market is steady. Tilapia- Market is steady. Swai- Market is unsetled. The market has been moving higher due to ghtening inventories and higher replacement costs. Recent reports show that year to date imports are down almost 22% compared to same me Scallops- Market is steady. DAIRY Cheese Market is unsetled. The CME Block and Barrel markets have both seen highs and lows this week. In the West, produc on is reported as stable and inventories generally reported as robust. Midwest cheese produc on is steady even as milk volume for manufacturing has declined. Demand domes cally is steady. Inventories may be affected as more schools begin to reopen over the coming weeks. Cheese Block Market Average Weekly $/lb

Cheese Barrel Market Average Weekly $/lb 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 Butter Market is unsetled.

9 Cheese Barrel Market Average Weekly $/lb Butter Market is unsetled. The CME buter market moved lower this week a er hi ng a high last week. That is typical of the trend for this me of year. Inventories are decreasing while demand remains good domes cally. Interna onal demand is good as foreign stocks remain ght and prices rise. Butter Market Avg Weekly $/lb

EGGS Market weakening. Retail demand is reported as fair with sales slowing since July. Foodservice remains unchanged. Seasonal and QSR segment ac vity is good.

10 EGGS Market weakening. Retail demand is reported as fair with sales slowing since July. Foodservice remains unchanged. Seasonal and QSR segment ac vity is good. Shell inventory up this week only slightly at 0.4%. Large Shell Eggs $/Dozen Continued on next page

The next 10 days are cri cal for soy bean maturity, so rain is needed; however weather forecasts

Canada is lowering its forecasts for new canola crop pu ng more pressure on the soy market.

11 SOY OIL Market is unsetled. China s appe te for our soy imports increased in July, adding more volume to previous forecasts. The next 10 days are cri cal for soy bean maturity, so rain is needed; however weather forecasts call for litle to no rain next week in Iowa and surrounding areas. Canada is lowering its forecasts for new canola crop pu ng more pressure on the soy market. Soybean Oil FLOUR Market so er as prices have fallen slightly since early July. Winter wheat harvest is done, and spring harvest moving quickly. Rain at just the right me helped the high protein crop mature in me for harvest.

5431 Poultry, Potatoes: Laura Kelly, Category Manager, ext.

12 For questions regarding the markets, please contact the appropriate Category Manager: Scott MacKaben, Vice President of Procurement, ext Beef, Pork, Seafood: Davy Ard, Director of Category Management, ext Poultry, Potatoes: Laura Kelly, Category Manager, ext Oil, Wheat, Grains, Canned Products, Imports: Willie Biddix, Category Manager, ext Non Foods, Beverages, Spices, Dairy, Eggs: Angie Rivera, Associate Category Manager, ext Frozen Vegetables: Daniel Cook, Supply Chain Product Manager, ext. 5451

In the Loop. with HPC Foodservice. July 2nd, Nutmeg Rd., North South Windsor, CT 06074

In the Loop. with HPC Foodservice. July 2nd, Nutmeg Rd., North South Windsor, CT 06074 In the Loop with HPC Foodservice July 2nd, 2018 www.hpcfs.com 800.883.9800 625 Nutmeg Rd., North South Windsor, CT 06074 Our offices will be closed on Wednesday, July 4th. Please plan your orders accordingly.