Market Trends: Drop of 0.94% in Average Wholesale Price, Still Up 13.66%
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
Average Wholesale prices surprise us again going down slightly at 0.94%. Average Commodity prices fell even further, down 1.67%. We are still significantly higher than where we were a year ago with average Commodity prices up 24.99% YoY and average Wholesale prices up 13.66%.
Average Wholesale prices went up in 5 categories, primarily produce for a change. Fresh Onion (+13.80%) led the way followed by Fresh Lettuce (+10.27%), Fresh Bell Pepper (+6.90%), Fresh Potatoes (+6.21%), and the lone protein Ground Beef (+1.92%).
Proteins led the six categories that went down this week. Average Wholesale prices dropped in Pork Shoulder (-8.42%), Pork Loin (-6.08%), Beef Strip Loin (-5.28%), Shell Eggs (-3.65%), Chicken Breast (-1.50%), and Chicken Wing (-1.26%).
While average Commodity prices dropped, expect next week’s trends to vary by category. Produce prices will go up and Protein prices will be flat to down. In the long term, have to think that everything will start heading up because of macroeconomic forces.
Category Trends
Ground Beef
Demand must be going up, because Wholesale was up 1.92% even though Commodity (-2.18%) dropped again. With improving weather and world affairs, we are now looking for Wholesale to continue to increase.
Shell Eggs
Wholesale (-3.65%) dropped as expected and Commodity (-6.20%) went down again. Wholesale will likely continue down unless Commodity turns around.
Pork Loin
The increase in Commodity (+1.39%) isn't pushing up Wholesale (-6.08%) as expected. Have to think that Wholesale will begin to be pushed up in the coming weeks.
Pork Shoulder
We were wrong on this one. Instead of heading up, Wholesale dropped 8.42%. Commodity (-0.12%) went down as well so expect Wholesale to be flat next week.
Fresh Lettuce
The Wholesale (+10.16%) increase happened as expected and Commodity (+10.27%) went up as well. This trend will likely continue next week.
Fresh Potatoes
Unexpected spike in Wholesale (+6.21%) even though Commodity went down again (-1.02%). If Fresh Potatoes track with other Produce, it will likely continue up.
Chicken Breast
Big drop in Commodity (-14.80%) pulled down Wholesale (-1.50%) as well. May continue down in the short term, but expect increases long term.
Fresh Bell Pepper
Wholesale went up 6.90%, likely driven by last week's Commodity pop. Commodity (+0.08%) is flat which should keep Wholesale flat next week.
Fresh Onion
Wholesale (+13.80%) and Commodity (+1.51%) went up and lower than normal harvests will keep prices headed up.
Beef Strip Loin
Commodity (-1.48%) dropped which dragged down Wholesale (-5.28%). Short term decreases could continue, but we expect long term increases.
Chicken Wing
Wholesale (-1.26%) went down as expected. Commodity (0.00%) is flat so look for Wholesale to follow going forward.
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