Market Trends: Average Wholesale Prices Spike More Than 2%
Get to know how food prices have changed and where they are going with your Market Trends Report. Each week we’ll show you how both Wholesale and Commodity prices have changed. We’ll also include an analysis of how we expect Wholesale prices to change over the coming weeks to help you make the best purchasing decisions, all for free.
Market Overview
We see big Wholesale price increases across Proteins though Commodity Proteins are mixed with Beef going up and Pork going down. Average Commodity prices are up 2.52% which means that more Wholesale prices increases are likely in the near future.
Our new category, Beef Strip Loin leads the Wholesale price increases, up 15.38%. Fresh Onion is up 13.53% Wholesale, Pork Shoulder Wholesale is up 8.75%, and Ground Beef Wholesale prices increased 4.70%.
Biggest decreases were in Fresh Bell Pepper (-6.90%), Fresh Lettuce (-3.60%), and Shell Eggs (-0.23%). These categories were also the few to see drops in the Commodity prices, so Wholesale may continue to be flat to lower in coming weeks.
Rising Commodity prices, continued supply chain challenges, and the potential for an increase in restaurant business as areas come out of the Omicron surge will likely push Wholesale prices higher. This is the largest average Commodity price increase in the past 11 weeks.
Category Trends
Ground Beef
A big increase in Commodity (+10.46%) drove Wholesale higher than expected (+4.70%). Expect Commodity and Wholesale to continue to increase driven by overall Beef industry trends.
Shell Eggs
Wholesale price remained relatively flat as expected (-0.23%). A big drop in Commodity (-12.42%) will likely lead to a coming decrease in Wholesale price.
Pork Loin
Wholesale (+2.71%) increase more than expected, likely driven by a general increase in Protein prices. Commodity dropped 4.05%, which should keep Wholesale prices from increasing as much next week.
Pork Shoulder
Last week's big Commodity increase led to a big Wholesale increase (+8.75%) this week. Commodity came back down (-11.52%) so look for Wholesale to be impacted accordingly.
Fresh Lettuce
Wholesale finally trended with Commodity, down 3.60%. An even bigger decrease in Commodity (-8.43%) should continue to depress Wholesale prices.
Fresh Potatoes
Wholesale stayed flat as predicted (+0.14%) but Commodity prices are seeing significant swings following last week’s drop with a 41.92% increase this week. Expect Wholesale to pop next week.
Chicken Breast
Big increase in Commodity (+7.68%) and general Protein increases pushed Wholesales higher than expected (+4.35%). Expect more of the same.
Fresh Bell Pepper
Wholesale price (-6.90%) came back in line with Commodity (-1.53%). Look for Wholesale prices to remain flat to lower.
Fresh Onion
A small increase in Commodity (+1.20%) led to a big jump in Wholesale (+13.53%). If Commodity continues to increase expect Wholesale to do the same.
Beef Striploin
Commodity increased 8.04% and Wholesale went even higher (+15.38%). Expect both to continue to increase with general Beef trends and seasonality.
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