Market Trends: The Easter Bunny Can’t Afford Eggs This Year!
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
Another week, another increase in the average Wholesale price (+0.49%). There were still a few (okay, three) categories that came down while the majority saw increases across proteins and produce. We knew the avian flu was going to create upward pressure, but definitely didn’t see this big of a spike in Shell Eggs.
A whopping 10.20% increase in Shell Egg average Wholesale price this week. We also saw increases in Fresh Bell Pepper (+9.81%), Fresh Potatoes (+3.14%), Ground Beef (+1.31%), and then smaller increases in Fresh Lettuce (+0.68%), Chicken Breast (+0.62%), Pork Shoulder (+0.51%), and Pork Loin (+0.38%).
There were a couple of categories that saw average Wholesale price decreases. Beef Strip Loin came off last week’s spike with a drop of 3.82%. Fresh Onions were down 2.79% and with the Final Four over, Chicken Wing dropped 0.65%.
Average Commodity price saw an even bigger increase, going up 1.42%, so look for Wholesale to go even higher in the future. Wholesale is now up 24% YoY...but Commodity is up 30%! Can you swap that Chicken Breast dish for Chicken Wing?
Category Trends
Ground Beef
Wholesale (+1.31%) went up more than expected. With Commodity (-0.24%) coming down slightly, look for Wholesale to flatten out next week.
Shell Eggs
Avian flu and other factors look to be wrecking havoc on Shell Eggs. Wholesale spiked 10.20% but Commodity shot even higher, up 42.31%! Don't expect this trend to change anytime soon.
Pork Loin
Wholesale went up slightly, +0.38%, but Commodity is down 3.99%. Would expect Wholesale to be flat to down barring any big Commodity changes.
Pork Shoulder
Big bump in Commodity (+3.44%) pushed Wholesale up slightly (+0.51%). If Commodity continues to trend up look for Wholesale to follow.
Fresh Lettuce
Wholesale (+0.68%) went up as expected. Commodity (-0.39%) was down just a bit. Expect Wholesale to stay relatively flat.
Fresh Potatoes
A bounce in Wholesale (+3.14%) while Commodity (-0.01%) was flat. Unless there are outside drivers, look for Wholesale to level out as well.
Chicken Breast
Slight increase in Wholesale (+0.62%), but with Commodity (+2.46%) up big and avian flu challenges look for Wholesale to trend sharply upward.
Fresh Bell Pepper
Wholesale (+9.81%) spiked up even higher than expected. Commodity (+1.94%) trended up as well, so expect Wholesale to continue to increase.
Fresh Onion
A big drop in Commodity (-11.94%) dragged Wholesale (-2.79%) as well. There isn't going to be a solution to the supply challenges, so don't get use to these lower prices.
Beef Strip Loin
Wholesale (-3.82%) came down even more sharply than expected. Commodity (+2.27%) bounced back up and Wholesale will likely do the same.
Chicken Wing
Even if your Final Four team didn't win, you can at least get lower Wholesale (-0.65%) prices. Commodity (-5.98%) fell even further. Wholesale should follow unless avian flu issues counter.
If you want to easily compare prices on similar products as you shop, try our free Smart Shopping Assistant browser extension.