Market Trends: Average Wholesale Prices Spike 4.38% Led by Meat
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
Last week we said the increase in average Commodity prices was going to lead to an increase in Wholesale, and boy did it. Average Wholesale prices went up 4.38%, the biggest jump in five weeks. Meanwhile, average Commodity prices stayed flat (-0.04%).
Unsurprising, the biggest Wholesale increases were in meats though the highest is Fresh Onion (+13.68%) then Pork Loin (+10.99%), Beef Strip Loin (+10.73%), and Pork Shoulder (+7.70%).
There were a couple of categories that went down, including the expected drop in Wholesale Chicken Wing (-2.72%). The others are Fresh Lettuce (-1.14%), Fresh Potatoes (-3.58%), and Fresh Bell Pepper (-4.47%).
With average Commodity prices staying flat, we should start to see Wholesale level out next week unless international events unexpectedly drive Commodity higher.
Category Trends
Ground Beef
Wholesale is up 3.38%. Commodity is flat to down (-0.40%). Expect Wholesale to be flat in coming weeks until Commodity heads back up.
Shell Eggs
Wholesale is up 1.95%, but not as much as expected. Commodity is flat, so look for Wholesale to potentially go up again next week from the last two weeks of increases in Commodity.
Pork Loin
Commodity increase (+3.72%) drives Wholesale even higher (+10.99%). If Commodity goes up again look for Wholesale to continue to increase.
Pork Shoulder
Apparently costs outside of Commodity are driving Wholesale as it is up 7.70% while Commodity is down 0.14%. Wholesale should level out unless Commodity heads back up.
Fresh Lettuce
Wholesale slightly down (-1.14%) with Commodity dropping more significantly (-3.42%). Wholesale should continue down next week.
Fresh Potatoes
As expected, Wholesale is down again (-3.58%). Commodity flatted out (-0.95%) so look for Wholesale to be flat to up in coming weeks.
Chicken Breast
Wholesale is up 2.12% following last week's Commodity increase. Commodity is flat this week which should flatten out Wholesale next week.
Fresh Bell Pepper
Different stories for Commodity (+10.60%) and Wholesale (-4.47%) this week. Have to think that the Commodity increase will drive up Wholesale in the coming week.
Fresh Onion
Those Commodity increases finally drove up Wholesale (+13.68%). With Commodity up as well (+4.71%) look for the Wholesale increase to continue.
Beef Strip Loin
Wholesale is up big (+10.73%) while Commodity flattens out (+0.06%). Look for Wholesale to start to flatten unless Commodity heads back up.
Chicken Wing
Wholesale (-2.72%) comes down as expected and Commodity went down too (-1.86%). Would expect flat to slight changes next week.
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