Inventories continue to increase and the next strong wave of butter sales is not expected until the Easter season - three months from now. Many buyers are purchasing product for short term needs only, anticipating that the market will decrease in the near future. Most cheese markets are declining but are expected to settle next week. Expected unfavorable weather in South America influenced the soybean oil market higher for the second consecutive week. The whole chicken market is trending lower.
Demand is reported to be trivial which is contributing to the falling market.
Chicken breast prices are higher this week, however, seasonal trends suggest any price increases should be minimal through the first part of February. Unfortunately for Florida growers, they could be losing up to 3,000 acres of Lime trees, which may all but wipe out Florida s lime production for the year. The big problem is a tiny canker organism which causes lesions on the skin of the fruit. About 21 of 24 lime groves south of Miami have evidence of canker outbreaks. Fruit from infected with the disease cannot be sold to the fresh market, and trees infected will be uprooted and destroyed.