Market Trends: Unexpected 2.76% Drop in Average Wholesale Prices
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 saw average Wholesale prices drop almost across the board with 9 of 11 categories moving down. Average Commodity prices moved up 2.19% with 6 categories increasing and 5 going down.
The only two Wholesale categories that moved up were Chicken Breast (+.80%) and Ground Beef (+.79%). On the Commodity side we saw increases in Pork Loin (+8.75%), Pork Shoulder (+11.05%), Fresh Lettuce (+6.48%), Chicken Breast (+5.65%), Fresh Bell Pepper (+25.34%!!), and Fresh Onion (+7.46%).
Average Wholesale prices fell in Shell Eggs (-0.92%), Pork Loin (-0.47%), Pork Shoulder (-3.34%), Fresh Lettuce (-5.54%), Fresh Potatoes (-5.37%), Fresh Bell Pepper (-6.50%), Fresh Onion (-6.49%), Beef Strip Loin (-5.09%), and Chicken Wing (-0.53%).
The big increase in Commodity this week is going to send Wholesale prices up next week with just a few exceptions.
Category Trends
Ground Beef
Wholesale stayed relatively flat (+0.79%) as expected. A drop in Commodity (-3.35%) should push Wholesale down next week.
Shell Eggs
Commodity had one of the biggest drops of the week going down 6.35%. This pushed Wholesale down 0.92%. Would look for Wholesale to trend downward again in the coming weeks.
Pork Loin
Wholesale is pretty flat (-0.47%) but the Commodity pop (8.75%) is going to drive Wholesale up next week.
Pork Shoulder
Wholesale (-3.34%) dropped more than expected. A big increase in Commodity (+11.05%) will bring Wholesale up significantly next week.
Fresh Lettuce
Wholesale (-5.54%) dropped per expectations. Commodity is up 6.48% and we expect Wholesale to increase next week.
Fresh Potatoes
The category continues to head down across the board with Wholesale down 5.37% and Commodity down 2.02%. Look for this to continue in the short term.
Chicken Breast
Wholesale (+0.80%) stayed flat as predicted. Commodity (+5.65%) saw a big increase and will push Wholesale up next week.
Fresh Bell Pepper
There must be a lack of demand for Fresh Bell Peppers because Wholesale is down again (-6.50%) while Commodity (+25.34%) skyrockets. Have to think that Wholesale is eventually going to follow.
Fresh Onion
Commodity (+7.46%) is up again but Wholesale headed the other direction (-6.49%). We expect Wholesale to turn around next week.
Beef Strip Loin
Commodity (-0.23%) stayed flat which brought Wholesale (-5.09%) back down. If Commodity stays steady, so should Wholesale.
Chicken Wing
Wholesale (-0.53%) stayed flat as predicted. Commodity (-1.53%) headed down again. Look for Wholesale to be flat to down again coming up.
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