Market Trends: Swap Out Pork On Your Menu? Wholesale Pork Price Jumps 16%
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
Well, the spike in average Wholesale prices we were expecting has hit with the average Wholesale Index going up 1.85% this week. Seven Wholesale categories saw price increases with five decreasing. Most of the categories that saw Wholesale increases also saw Commodity increases. This means we will likely have multiple weeks with the average Wholesale index heading higher.
A big spike in average Wholesale Pork this week with Pork Shoulder up 17.32% and Pork Loin up 14.38%. Our new category, Cod, is up 5.28% followed by Fresh Onion (+4.22%), Fresh Potato (+3.57%), Chicken Breast (+1.96%), and Fresh Bell Pepper (+3.57%).
Beef continues to be the counter-trend with average Wholesale dropping for Beef Strip Loin (-3.10%) and Ground Beef (-0.11%). Shell Eggs (-1.47%) also continue to come off their high. Chicken Wings (-2.43%) and Fresh Lettuce (-2.95%) were the other two categories to see drops in Wholesale.
Even with some large drops in average Commodity prices, the overall Commodity trend points to Wholesale continuing to increase. We also saw fewer discounts on frozen items, meaning excess inventory may be resolving and there being less downward pull on the Wholesale price. There still are some significant savings available if swapping brands or specific products works for your business.
Wholesale Price Changes
| Category | 12 Months | 3 Months | 1 Month |
|---|---|---|---|
| Ground Beef | +1.7% | -9.3% | -1.9% |
| Shell Eggs | +33.1% | +32.7% | -4.3% |
| Pork Loin | +92.1% | +39.2% | +23.5% |
| Pork Shoulder | -7.7% | +4.7% | +18.9% |
| Fresh Lettuce | -17.8% | -27.6% | -16.7% |
| Fresh Potatoes | +58.1% | +0.7% | +8.9% |
| Chicken Breast | +34.7% | +11.0% | +7.1% |
| Fresh Bell Pepper | +38.8% | +15.7% | -10.7% |
| Fresh Onion | +86.1% | -0.7% | -3.0% |
| Beef Strip Loin | -22.5% | -5.8% | -9.7% |
| Chicken Wing | +20.9% | +6.8% | +5.9% |
| Cod | +7.7% | +8.4% | |
| Wholesale | +20.9% | +16.8% | -2.2% |
Category Trends
Ground Beef
Wholesale (-0.11%) stayed flatter than expected, but a jump in Commodity (+3.85%) points to increases in the near future.
Shell Eggs
A big drop in Commodity (-11.71%) continued to pull down Wholesale (-1.47%). If supply chain challenges from avian flu are getting resolved, we could continue to see decreases.
Pork Loin
A huge spike in Wholesale (+14.38%) despite Commodity (-0.45%) being flat to down. Uncertain if this is a one-time jump or if Wholesale will stay at an elevated level compared to Commodity.
Pork Shoulder
A surprising jump in Wholesale (+17.32%) and an increase in Commodity (+2.66%) means we'll likely see higher Wholesale again next week.
Fresh Lettuce
Commodity drops 1.90% which helped pull down Wholesale (-2.95%). We think they both will be flat to down near term.
Fresh Potatoes
A bump in Commodity (+2.99%) helped push Wholesale (+3.57%) up as well. Expect continued increases aligned with general market trends.
Chicken Breast
Wholesale (+1.96%) increased as expected and a bigger jump in Commodity (+4.31%) means you'll be paying even more in the near term.
Fresh Bell Pepper
Another big increase in Commodity (+15.45%) though Wholesale (+0.795) stayed relatively flat. That points to a spike in Wholesale next week. You may want to find an alternative product in the near term.
Fresh Onion
There was an unexpected jump in Wholesale (+4.22%) with a slight increase in Commodity (+0.60%). Would think that Wholesale should flatten out unless there's a big increase in Commodity.
Beef Strip Loin
Continue to see the Beef categories being less impacted than other proteins. Wholesale (-3.10%) and Commodity (-3.77%) dropped this week and are both more than 15% below last year's prices.
Chicken Wing
Commodity (-7.75%) unexpectedly dropped significantly, pulling down Wholesale (-2.43%) as well. While a slight decrease may continue, we believe it is more likely that general trends will keep prices flat to up.
Cod
We added a new category! Commodity (+4.66%) took a big jump this week which drove Wholesale (+5.28%) even higher. Its likely increases will continue in the near term.
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