Market Trends: High Volatility in Commodity Markets
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 went up moderately this week at 1.48%. Average Commodity price fell slightly at -0.79% but had huge swings in both directions in certain categories.
Average Wholesale prices went up in seven categories, with most produce categories going up as expected. Fresh Lettuce (+3.84%) increased the most given the large increases in Commodity prices over the last few weeks. Pork Loin (+1.51%), Pork Shoulder (+3.28%), Fresh Potatoes (+1.69%), Chicken Breast (+2.53%), Fresh Bell Pepper (+3.07%), and Beef Strip Loin (+2.93%) also increased.
Average Wholesale prices went down in four categories. Fresh Onion led the drop (-2.86%) given its huge spike last week, while Ground Beef (-1.08%), Shell Eggs (-2.05%), and Chicken Wings (-0.41%) also dropped.
Given the large swings in Commodity prices this week, we expect those swings to move into the Wholesale market next week. Look for big increases in Wholesale prices for Fresh Lettuce and Chicken Breast and sizeable drops in Beef Strip Loin and Chicken Wing prices.
Category Trends
Ground Beef
Wholesale dropped slightly (-1.08%) with a bigger drop in Commodity (-4.67%). Look for whole to remain flat or drop slightly again next week.
Shell Eggs
Wholesale (-2.05%) dropped as expected and Commodity (+1.54%) went up slightly. Wholesale will likely be mostly flat next week.
Pork Loin
Wholesale increased (+1.51%) due to last week's commodity increase, while Commodity came back down partially (-4.18%) from its highs over the last few weeks. Look for wholesale to remain mostly flat or decrease slightly next week.
Pork Shoulder
Wholesale increased (+3.28%) and Commodity (+2.71%) also moved in the same direction. We expect Wholesale to increase again next week.
Fresh Lettuce
Wholesale increased (+3.84%) as expected while Commodity had a huge price jump (20.51%). Expect big increases in Wholesale next week.
Fresh Potatoes
Wholesale increased again (+1.69%) even though Commodity continued its downward slide (-2.30%). We expect wholesale prices to level out next week with a slight decrease possible.
Chicken Breast
Wholesale increased (+2.53%), while Commodity saw a huge spike back to its previous highs (+18.28%). Expect Wholesale to increase slightly next week.
Fresh Bell Pepper
Wholesale went up a bit more than expected (+3.07%), while Commodity remained mostly flat (+0.49%). Expect Wholesale prices to stablize next week with a slight decrease possible.
Fresh Onion
Wholesale prices dropped slightly (-2.86%) as a correction to last week's price spike, while commodity continued its upward trend (+2.19%). Look for Wholesale prices to increase moderately next week.
Beef Strip Loin
Wholesale increased (+2.93%), while Commodity dropped significantly (-6.69%). Look for Wholesale prices to drop slightly next week, while remaining at its elavated levels in the long term.
Chicken Wing
As expected, Wholesale was mostly flat (-0.41%), while Commodity had a significant price drop (-7.01%). Expect Wholesale prices to drop next week.
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