WEEKLY MARKET TRENDS REPORT

April 5, 2013

Individual Reports on: Beef, Veal and Lamb Oil and Grains Dairy Pork Canned Tomato Poultry Seafood Bean, Rice, Coffee and Sugar Processed Fruits and Vegetables Produce

Beef, Veal and Lamb Report
Beef, Veal & Lamb- Beef output last week declined .6% but was 1.1% larger than last year. Tight cattle supplies and lower beef production are likely to support boxed-beef cutout prices this spring. The USDA is forecasting Q2 beef production to be 1.7% less than '12. However, beef demand is being hampered by record high retail beef prices and a financially strapped U.S. consumer. Forward beef sales last week were 7% below the five-year average for the week. Grilling items such as the 0x1 strip and the top butt usually see their prices rise by 16% and 11% respectively in April but this year's price increases may be less intense.

Live Cattle (Steer) Ground Beef 81/19 Ground Chuck 109 Export Rib (choice) 109 Export Rib (prime) 112a Ribeye (choice) 112a Ribeye (prime) 116 Chuck (choice) 120 Brisket (choice) 121c Outside Skirt (ch/sel.) 167a Knckle, Trimmed (choice) 168 Inside Round (choice) 174 Short Loin (choice 0x1) 174 Short Loin (prime 2x3) 180 1x1 Strip (choice) 180 1x1 Strip (prime) 180 0x1 Strip (choice) 184 Top Butt, boneless (choice) 184 Top Butt, boneless (prime) 185a Sirloin Flap (choice) 185c Loin, Tri-Tip (choice) 189a Tender (select, 5 lb & up) 189a Tender (choice, 5 lb &up) 189a Tender (prime, heavy) 193 Flank Steak (choice) 50% Trimmings 65% Trimmings 75% Trimmings 85% Trimmings 90% Trimmings

Market Trend Increasing Decreasing Increasing Increasing Decreasing Decreasing Decreasing Decreasing Decreasing Decreasing Increasing Decreasing Increasing Increasing Steady Decreasing Increasing Decreasing Decreasing Decreasing Increasing Decreasing Decreasing Decreasing Decreasing Increasing Increasing Steady Increasing Increasing

Supplies Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good

Price vs. Last Year Higher Higher Higher Lower Lower Lower Lower Higher Lower Lower Higher Lower Higher Lower Higher Lower Higher Lower Lower Higher Lower Lower Lower Lower Lower Higher Lower Lower Lower Higher

Market Report provided by American Restaurant Associationwww.AmericanRestaurantAssociation.com- 888-423-4411

90% Imported Beef (frozen) Veal Rack (Hotel 7 rib) Veal Top Round (cap off)

Increasing Steady Steady

Good Good Good

Lower Higher Higher

Oil and Grains Report
Oil & Grains- Mar 1st U.S. corn stocks were larger than expected according to the USDA but still the tightest for
the date since '04. The corn market could be supported in the coming weeks.

Soybeans Crude Soybean Oil Soymeal Corn Crude Corn Oil Distillers Grain, Dry Crude Palm Oil Hard Red Winter Wheat Dark Northern Spring Wheat High Fructose Corn Syrup Durum Wheat

Market Trend Decreasing Decreasing Decreasing Decreasing Steady Increasing Decreasing Decreasing Decreasing Decreasing Decreasing

Supplies Good Good Good Good Good Good Good Good Good Good Good

Price vs. Last Year Higher Lower Higher Higher Lower Higher Lower Higher Lower Higher Lower

Market Report provided by American Restaurant Associationwww.AmericanRestaurantAssociation.com- 888-423-4411

Dairy Report
Dairy- U.S. milk production usually increases during the spring and dairy product prices tend to decline. The USDA
is calling for Q2 milk output to be .6% more than '12 which should encourage cheese and butter production. The CME cheese markets are steady. Since '08, the average price move for cheese blocks over the next two weeks is 2.6% lower. The CME butter market is trading 2.9% below its winter peak due partly to high inventories. Still, strong global cheese and butter prices are fueling U.S. exports which may support domestic dairy product prices this spring.

Market Trend Cheese Barrels- CME Cheese 40 lb Blocks- CME American Cheese Cheddar Cheese Mozzarella Cheese Provolone Cheese Parmesan Cheese Butter- One lb Solids Nonfat Dry Milk Whey, Dry Class I Milk Base Class II Cream (Heavy Cream) Class III Milk- CME Class IV Milk- CME Increasing Steady Decreasing Increasing Increasing Increasing Increasing Steady Decreasing Decreasing Steady Decreasing Increasing Increasing

Supplies Good Good Good Good Good Good Good Good Good Good Good Good Good Good

Price vs. Last Year Higher Higher Higher Higher Higher Higher Higher Higher Higher Higher Higher Higher Higher Higher

Market Report provided by American Restaurant Associationwww.AmericanRestaurantAssociation.com- 888-423-4411

Pork Report
Pork- Pork output last week increased .4% and was 2.3% larger than '12. The Mar USDA hog and pigs inventory was 1.5% larger than last year. The swine breeding herd was .2% bigger than '12 and rose from Dec by the largest amount for that time period since '07. This data suggests that pork production will trend above year ago levels as 2013 progresses. The USDA is calling for U.S. pork output during Q2 to be .9% more than '12. This may temper any spring price increases for pork. The pork cutout value usually rises 3.8% in early-Apr.

Live Hogs Belly (bacon) Spare Rib (4.25 & down) Ham (23-27 lb) Loin (bone-in) Baby Back Rib (1.75 & up) Tenderloin (1.25 lb) Boston Butt, untrimmed 4-8 lb. Picnic, untrimmed SS Picnic, smoker trim boxed 42% Trimmings 72% Trimmings

Market Trend Increasing Steady Increasing Increasing Increasing Increasing Decreasing Decreasing Increasing Decreasing Decreasing Increasing

Supplies Good Good Good Good Good Good Good Good Good Good Good Good

Price vs. Last Year Lower Higher Lower Lower Lower Lower Lower Lower Lower Lower Higher Higher

Market Report provided by American Restaurant Associationwww.AmericanRestaurantAssociation.com- 888-423-4411

Canned Tomato Report
Tomato Products, Canned- Farmers are likely to negotiate similar raw product costs in '13 versus last year for
canners. The canned tomato markets remain firm.

Whole Peeled Standard Diced, Fancy Ketchup, 33% Tomato Paste- Ind.

Market Trend Steady Steady Steady Steady

Supplies Good Good Good Good

Price vs. Last Year Same Same Same Same

Poultry Report
Poultry- Chicken producer margins continue to improve. The ARA chicken cutout index last week was the highest for any week since '04 and feed costs are subsiding. These factors are expected to keep chicken production rates above '12 levels during the spring. The jumbo cut chicken wing market typically declines 8.7% over the next five weeks. However, this year's seasonal price depreciation for wings may be greater due to better output. The ARA chicken breast index has increased 16.8% so far this year. History suggests that chicken breast prices can still move 3.4% higher over the next eight weeks. Still, due to greater chicken supplies anticipated in the coming months, chicken breast market increases may be tempered.

Whole Chicken (2.5-3 lb-GA) Chicken Wings, Whole Chicken Wings, Jumbo Cut Chicken Breast, Bone-In Chicken Breast, Bnless Sknless Chicken Tender (random) Chicken Tender (sized) Chicken Legs (whole) Chicken Leg Quarters Chicken Thighs, bone in

Market Trend Increasing Decreasing Decreasing Steady Steady Steady Steady Decreasing Steady Decreasing

Supplies Good Good Good Good Good Good Good Good Good Good

Price vs. Last Year Higher Lower Lower Higher Higher Lower Lower Lower Higher Lower

Market Report provided by American Restaurant Associationwww.AmericanRestaurantAssociation.com- 888-423-4411

Chicken Thighs, boneless Large Eggs Medium Eggs Whole Eggs- Liq Egg Whites- Liq Egg Yolks- Liq Whole Turkey (8-16 lb) Turkey Breast- Bnls/Sknls

Decreasing Increasing Decreasing Steady Steady Steady Steady Decreasing

Good Good Good Good Good Good Good Good

Lower Higher Higher Higher Higher Higher Lower Lower

Seafood Report
Seafood- Snow crab supplies are adequate and the snow crab markets are trending below
year ago levels. The Alaskan Bering Sea snow crab quota for the '12/13 season is 91% complete. The Newfoundland- Labrador snow crab season is due to get underway in the coming months which typically brings a boost to supplies. Still, this year's Newfoundland snow crab quota is just under 1% less than 2012 and the smallest in the last four years. This may be somewhat supportive of snow crab prices this spring.

Salmon, Whole (10-12 lb) Catfish, Filets Trout, Drn. (8-14 oz) Shrimp (16-20 count) Shrimp (61-70 count) Shrimp, Tiger (26-30 count) Snow Crab Legs (5-8 oz) Snow Crab Legs (8 oz up) Cod Tails, 3-7 oz. Frz. Cod Loins, 3-12 oz. Frz. Salmon Portions, 4-8 oz. Frz.

Market Trend Steady Steady Steady Decreasing Increasing Increasing Decreasing Steady Steady Steady Steady

Supplies Good Good Good Good Good Good Good Good Good Good Good

Price vs. Last Year Same Lower Higher Higher Higher Higher Lower Lower Lower Lower Lower

Market Report provided by American Restaurant Associationwww.AmericanRestaurantAssociation.com- 888-423-4411

Bean, Rice, Coffee and Sugar Report
Pinto Beans Black Beans Rice, Long Grain Coffee Beans Sugar Honey Market Trend Steady Decreasing Steady Increasing Decreasing Steady Supplies Good Good Good Good Good Good Price vs. Last Year Lower Lower Higher Lower Lower Higher

Paper Product Report
Wood Pulp (paper)

NBSK- Paper napkin 42 lb. Linerboard-corrugated box
Plastic Resins (plastic, foam)

Market Trend Steady Increasing Steady Decreasing

Supplies Good Good Good Good Good

Price vs. Last Year Higher Higher Higher Lower Lower

PS-CHH-utensils, cups, to-go cont. PP-HIGP-heavy grade utensils PE-LLD-can liners, film, bags

Steady

Retail Price Change from Prior Month
Beef and Veal Dairy Pork Chicken Fresh Fish and Seafood Fresh Fruits and Vegetables Apr-11 Increasing Increasing Decreasing Increasing Increasing Decreasing Mar-11 Increasing Increasing Increasing Decreasing Increasing Increasing Feb-11 Increasing Increasing Increasing Increasing Increasing Increasing

Market Report provided by American Restaurant Associationwww.AmericanRestaurantAssociation.com- 888-423-4411

Processed Fruits and Vegetables Report
Processed Fruits and Vegetables- February 28th frozen green bean inventories were 3% below the previous
year. Processed vegetable prices are expected to remain steady during the spring.

Canned 6/10 Corn, Fancy Whole Kernel Green Beans, Fancy 4 sv Green Peas, Fancy 4 sv/blend Frozen Corn, Cob 96 count Corn, Kernel 12/2.5 lb. Green Beans, Cut 12/2 lb. Green Peas, 12/2.5 lb. Potatoes, FF Fancy, 6/5 lb.

Market Trend

Steady
Steady Steady Steady Steady Steady Steady Steady

Supplies Good Good Good Good Good Good Good Good

Price vs. Last Year Higher Higher Higher Higher Higher Higher Higher Higher

Produce Report
Produce- The ID potato markets are historically depressed but potato demand is picking up. History points to the ID potato (70 ct.) market being steady in the spring but moving 23% higher during the summer. The iceberg lettuce markets have fallen sharply in the last two weeks on building supplies from Huron, CA. Still, iceberg lettuce prices usually firm in Apr when the crop begins to transition to Salinas CA. The tomato markets are mixed. Favorable weather in Mexico and in FL are likely to improve tomato crops. Mature green tomato prices usually trend lower during the spring.

Market Report provided by American Restaurant Associationwww.AmericanRestaurantAssociation.com- 888-423-4411

Limes (150 count) Lemons (95 count) Lemons (200 count) Honeydew (6 ct.) Cantaloupe (15 count) Blueberries (12 count) Strawberries (12 pints) Avocados, Hass (48 count) Bananas (40 lb)-Term. Pineapple (7 ct.)- Term. Idaho Potato (60 count) Idaho Potato (70 count) Idaho Potato (70 count)-Term. Idaho Potato (90 count) Idaho Potato #2 (6 oz. min.) Processing Potato (100 lb) Yellow Onions (50 lb) Yellow Onions (50 lb)-Term. Red Onions (25 lb)-Term. White Onions (50 lb)-Term. Tomatoes, (large- case) Tomatoes, (5x6, 25 lb.)-Term. Tomatoes, Vine Ripe, (4x5) Roma Tomatoes (large- case) Roma Tomatoes (xlarge- case) Green Peppers (large- case) Red Peppers (large- 15 lb. cs.) Iceberg Lettuce (24 count) Iceberg Lettuce (24 cnt)-Term.

Market Trend Increasing Increasing Steady Decreasing Decreasing Increasing Decreasing Steady Decreasing Decreasing Increasing Steady Increasing Steady Steady Steady Increasing Increasing Increasing Increasing Steady Decreasing Decreasing Increasing Increasing Increasing Decreasing Decreasing Decreasing

Supplies Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good Good

Price vs. Last Year Higher Lower Lower Higher Lower Higher Lower Higher Lower Lower Lower Lower Lower Lower Lower Lower Higher Higher Higher Higher Higher Higher Higher Higher Higher Higher Lower Higher Higher

Produce Report (continued)
Leaf Lettuce (24 count) Romaine Lettuce (24 count) Mesculin Mix (3 lb)-Term. Broccoli (14 cnt.) Squash (case) Zucchini (case) Green Beans (bushel) Spinach, Flat 24’s Mushrooms (large), Term. Cucumbers, Bushel Pickles (200-300 ct.)-Term. Asparagus (small) Freight (CA to City Avg.) Decreasing Decreasing Increasing Increasing Decreasing Increasing Increasing Decreasing Increasing Decreasing Increasing Steady Increasing Good Good Good Good Good Good Good Good Good Good Good Good Good Higher Higher Lower Higher Higher Higher Higher Lower Lower Higher Higher Higher Lower

Market Report provided by American Restaurant Associationwww.AmericanRestaurantAssociation.com- 888-423-4411

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