Market Trends: Wholesale Prices Jump 3.06% WoW, Outpacing Commodity
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
Weeks of increases in Commodity prices finally impacted the average Wholesale price, driving it up 3.06% this week. Price increases were pretty consistent across the board, with 9 categories going up (some significantly) and just 2 categories seeing small decreases.
The biggest increases are in produce with Fresh Lettuce up 8.93%, Fresh Bell Pepper up 6.42%, and Fresh Onion up 2.50%. But that wasn’t the only category as Beef Strip Loin spiked 6.28% followed by Shell Eggs (+4.70%), Chicken Wing (+0.67%), Chicken Breast (+0.50%), Fresh Potatoes (+0.33%), and Pork Loin (+0.12%).
Only two categories saw drops in average Wholesale price, and small ones at that. Ground Beef dropped 0.67% and Pork Should went down 0.58%.
Average Commodity prices stayed pretty flat (+0.29%). The yo-yo relationship between Commodity, Wholesale, and demand is likely to continue with the long-term trend of up and to the right. Look for another potential week of Wholesale increases followed by a week or two of flat to down.
Category Trends
Ground Beef
Wholesale (-0.67%) followed last week's drop in Commodity. Commodity (+2.36%) bounced back big, which will drive up Wholesale next week.
Shell Eggs
Another jump in Wholesale (+4.70%) even though Commodity dropped 1.02%. It is likely that Wholesale flattens next week unless Commodity spikes.
Pork Loin
Slight increase in Wholesale (+0.12%) with another bigger increase in Commodity (+2.76). This will likely drive up Wholesale near term.
Pork Shoulder
Both Commodity (-0.50%) and Wholesale (-0.58%) dropped slightly after last week's increases. Overall, the market could drive Wholesale up in spite of the Commodity trend.
Fresh Lettuce
Wholesale (+8.93%) bounced back big even with Commodity (-1.18%) dropping. Look for Wholesale to flatten out if Commodity continues to be flat to down.
Fresh Potatoes
Wholesale (+0.33%) stayed flat as expected. Commodity increased 2.57% so expect Wholesale to increase next week.
Chicken Breast
Wholesale (+0.50%) increased slightly while Commodity (0%) flattened out. Market forces may continue to drive up Wholesale even if Commodity stays flat.
Fresh Bell Pepper
Wholesale had a big jump (+6.42%) while Commodity was down slightly (-1.00%). Expect a correction in Wholesale prices in the coming weeks.
Fresh Onion
Wholesale (+2.50%) continued to separate from Commodity (+0.28%), which was unexpected. If Commodity remains flat, we expect that Wholesale will flatten in the next week or two.
Beef Strip Loin
Big jump in Wholesale (+6.28%) followed last week's increase in Commodity. The Commodity (0.00%) price stayed flat this week which should help keep Wholesale from increasing as much next week.
Chicken Wing
Wholesale (+0.67%) flattened slightly while Commodity (0.00%) didn't budge. This may be another case of the overall market driving up the price and it could continue.
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