Market Trends: Prices Rocket Up Across the Board! Commodity up 68% YoY! Wholesale up 36% YoY
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
Alright, this is just getting nuts. If you thought the report that inflation was up 8% annually was bad, it’s even worse in the Wholesale and Commodity markets. There are still some categories where average Wholesale prices dropped, but another huge spike in Shell Eggs, Fresh Bell Pepper, Pork, and Beef Strip Loin drove up average Wholesale prices 2.54% this week.
Shell Eggs continues to blow up with average Wholesale price up 13.32%. Fresh Bell Pepper (+11.09%), Chicken Breast (+4.55%), Pork Loin (+3.83%), Beef Strip Loin (+3.54%), Pork Shoulder (3.06%), and Fresh Potatoes (+1.32%) all saw average Wholesale price increases as well.
Fresh Lettuce (-6.99%) saw the largest percentage drop in average Wholesale price, followed by Ground Beef (-3.34%), Fresh Onion (-2.82%), and Chicken Wing (-0.97%).
With average Commodity prices up 0.87%, we expect Wholesale to continue to increase, though perhaps not as much as this week (with the exception of Shell Eggs). There continue to be some categories that provide price relief. Definitely worth your time to find them.
Category Trends
Ground Beef
Wholesale (-3.34%) did more than flatten out, it dropped significantly. Commodity (-2.06%) fell as well, so Wholesale could continue to drop as we wait for grill season.
Shell Eggs
Up and up. Wholesale went up 13.32% and Commodity spiked 35.59%. No relief in sight here, so be ready to continue to pay more.
Pork Loin
Easter demand driving up Wholesale? Commodity (-0.81%) dropped again, but Wholesale went up 3.83%. Expect Wholesale to flatten out after the holiday.
Pork Shoulder
Wholesale (+3.06%) followed the Commodity bump last week. Commodity only up 0.61% this week, which should mean a small increase to flat Wholesale prices coming up.
Fresh Lettuce
Wholesale (-6.99%) was pulled down by a big drop in Commodity (-21.26%). Unless there is a bounce, should see Wholesale continue to decrease next week.
Fresh Potatoes
Wholesale (+1.32%) went up again while Commodity (-0.82%) stayed pretty flat. Look for Wholesale to decrease in the near term.
Chicken Breast
Wholesale (+4.55%) jumped as expected, but Commodity (-11.70%) dropped unexpectedly. Would expect Wholesale to be brought down, at least next week.
Fresh Bell Pepper
Wholesale (+11.09%) went up, but even more than expected. Commodity (+5.78%) saw a big jump as well which means we'll continue to see Wholesale increases next week.
Fresh Onion
Wholesale (-2.82%) came down again, though we see a bounce in Commodity (+4.83%). Look for Wholesale to head back up next week.
Beef Strip Loin
Wholesale (+3.54%) jumped up following last week's Commodity increase. Commodity (+4.36%) went up again, so Wholesale will follow in the near term.
Chicken Wing
Wholesale (-0.97%) and Commodity (-1.83%) continue to head down. Would expect this to flatten out soon with avian flu issues.
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