Market Trends: Wholesale Beef Strip Loin and Pork Loin Jump Double Digits
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
A big jump of 4% in average Wholesale prices this week after six consecutive weeks of decreases. While expected increases in Produce and Chicken did happen, it was bigger jumps in Beef Strip Loin and Pork Loin that drove the overall increase even higher. Wholesale Produce now stands at 70% higher than 12 months ago and Pork is 53% higher. Chicken (+11%) and Beef (+10%) are also higher than 12 months prior, but relative bargains compared to Produce and Pork.
Beef Strip Loin (+15.14%) has the most significant Wholesale increase this week with big jumps in Pork Loin (+13.76%), Pork Shoulder (+6.34%), Fresh Lettuce (+5.10%), and Shell Eggs (+3.21%). There are smaller increases in Chicken Wing (+1.23%) and Fresh Bell Pepper (+1.19%).
It isn’t all bad news for restaurant operators as there are drops in Fresh Onion (-2.48%), Fresh Potato (-1.37%), Ground Beef (-1.22%), Cod (-0.71%), and Chicken Breast (-0.48%). We also see drops in half of the Commodity categories, so it is likely there will be some drops in Wholesale next week.
The average Commodity price index is up 1.26% with an even split of categories with increases and those with decreases. There are some decouplings of Wholesale prices and Commodity prices in certain categories which points to a general trend of Wholesale increases, likely due to the upcoming holidays. Look for general continued increases with some drops in certain categories like Fresh Onion and Fresh Potato.
Wholesale Price Changes
| Category | 12 Months | 3 Months | 1 Month |
|---|---|---|---|
| Ground Beef | +8.8% | -4.2% | -0.4% |
| Shell Eggs | +107.2% | +12.2% | -4% |
| Pork Loin | +95.1% | +10.9% | -6.2% |
| Pork Shoulder | +15.6% | -22% | -33.8% |
| Fresh Lettuce | +100.7% | +59.8% | +18.3% |
| Fresh Potatoes | +122.1% | -6.2% | +0.8% |
| Chicken Breast | +24.1% | -6.9% | -3.1% |
| Fresh Bell Pepper | +34% | -1.7% | +2.7% |
| Fresh Onion | +81.6% | +1% | -2.9% |
| Beef Strip Loin | +10.8% | +9.7% | -8% |
| Chicken Wing | -1.8% | -11% | -1.5% |
| Cod | +40.9% | +5.2% | +3.1% |
| Wholesale | +28% | +1.6% | -5.4% |
Category Trends
Ground Beef
Wholesale (-1.22%) drops more than expected, but a bump in Commodity (+4.99%) means that Wholesale will go up next week.
Shell Eggs
Wholesale (+3.21%) jumps, likely driven by general market trends. Commodity (+0.89%) is also up, so look for more increases to come.
Pork Loin
Whiplash with Wholesale (+13.76%) despite a drop in Commodity (-4.76%). This could be pointing towards general market trends driving up Wholesale and a likely increase next week too.
Pork Shoulder
Another example of Wholesale (+6.34%) going the other direction of Commodity (-2.24%) trends. Look for more increases through the holidays.
Fresh Lettuce
Wholesale (+5.10%) increases can't even keep up with the continued spike in Commodity (12.33%). That means not to expect relief from future increases any time soon.
Fresh Potatoes
Wholesale (-1.37%) drops as expected and another drop in Commodity (-3.55%) points to more decreases coming up.
Chicken Breast
Even with another big jump in Commodity (+6.68%), Wholesale (-0.48%) is down again. Would look for Wholesale to follow Commodity up soon.
Fresh Bell Pepper
Wholesale (+1.19%) jumps as predicted. Commodity (-0.05%) is relatively flat. Expect Wholesale to be flat to up next week.
Fresh Onion
A big drop in Commodity (-14.97%) pulls down Wholesale (-1.37%). With that big of a drop in Commodity, we expect at least one more week of decreases for Wholesale.
Beef Strip Loin
Last week's Commodity spike pushes Wholesale (+15.14%) up big. Another jump in Commodity (+4.18%) means more Wholesale increases are likely.
Chicken Wing
We finally see the expected increase in Wholesale (+1.23%) but another big jump in Commodity (+7.08%) means there is still a lot of room for more Wholesale increases.
Cod
Wholesale (-0.71%) stays relatively flat considering the big drop in Commodity (-10.78%). Look for Wholesale to be flat to up as we expect Commodity to bounce back up.
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