Market Trends: Commodity Continues Up, Big Jump in Wholesale Shell Eggs
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 another week of increases in the average Commodity price (+3.00%). The average Wholesale price was relatively flat (+0.19%) but with a wide variety of trends at the category level. Five Wholesale categories were down and 6 were up. Only 4 Commodity categories were down.
Shell Eggs’ average Wholesale price shot up 24.87%. Other Wholesale gainers include Fresh Bell Pepper (+5.51%), Chicken Wing (+4.83%), Fresh Lettuce (+3.57%), and Beef Strip Loin (+1.05%).
Pork led the categories with average Wholesale price decreases with Pork Loin down 11.34% and Pork Shoulder down 13.15%. Fresh Potatoes were the only other category with a significant Wholesale drop (-2.25%). Ground Beef (-0.23%), Chicken Breast (-0.60%), and Fresh Onion (-0.93%) were relatively flat.
Rising average Commodity prices and a likely increase in demand as states and municipalities open up mean that Wholesale prices are going to continue to increase.
Category Trends
Ground Beef
Wholesale stayed relatively flat (-0.23%), likely helped by a drop in Commodity (-2.82%). Would expect the previous jump in Commodity to push up the Wholesale floor near term.
Shell Eggs
The expected big jump in Wholesale (+24.87%) happened. With Commodity going up big again (+28.03%), Wholesale is going to see another big increase next week.
Pork Loin
Wholesale dropped more than expected, going down 11.34%. Commodity dropped for the first time in two weeks (-0.25%). Will Wholesale stay flat or continue down?
Pork Shoulder
Wholesale returned to earth (-13.15%). Commodity is up 2.57%, but the big spike last week should mean that Wholesale still has room to come down.
Fresh Lettuce
Wholesale up 3.57% following the Commodity bump last week. This week Commodity is flat (-0.57%) so don't expect a lot of movement in Wholesale next week.
Fresh Potatoes
Wholesale (-2.25%) and Commodity (-14.42%) go down this week. With the big decrease in Commodity would expect Wholesale to continue to move down for at least another week.
Chicken Breast
Commodity is up again (+5.74%) but Wholesale moved down slightly (-0.60%). Would think that Commodity increases should push up Wholesale in the near term.
Fresh Bell Pepper
: Commodity is up 6.84% and that drove Wholesale up 5.51%. Wholesale appears to be driven by factors outside just Commodity prices.
Fresh Onion
Commodity is up again (+4.59%) but Wholesale remained flat (-0.93%). Expect Wholesale to be pushed back up by continued Commodity increases.
Beef Strip Loin
Commodity is up (+6.04%) for the fourth week in a row. Wholesale is up slightly (+1.05%) so look for Wholesale to continue up next week.
Chicken Wing
Commodity is flat (0.00%) but Wholesale spiked 4.83% even after the Big Game. Expect the Wholesale price to come back down
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