Market Trends: Drop in Wholesale Chicken Prices Keeps Average Wholesale Market Flat
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
The Average Wholesale Price Index (+0.50%) stays pretty flat after last week’s big jump, but there are a number of big movers at the category level where you are going to feel effects. Keep an eye on what’s happening at the Commodity level as well, as those prices point to continued ups and downs in the weeks to come.
Pork Shoulder (+10.19%) is one of the big gainers this week. You may want to look at rotating that off the menu until prices come back down. We also see big increases in Fresh Onion (+12.00%), Fresh Lettuce (+9.45%), Ground Beef (+5.21%), Shell Eggs (+4.30%), and Fresh Bell Pepper (+2.57%). There were smaller increases in Beef Strip Loin (+0.78%) and Fresh Potato (+0.28%). Overall Wholesale Beef is still down 15.56% in the last 12 months so you are in a good place with your Beef prices. On the other hand, average Wholesale Produce is up a whopping 29.76% in the past 12 months.
There is good news for some proteins with Pork Loin plummeting 14.38%, Chicken Breast down 4.91%, Chicken Wing down 1.65%, and Cod dropping 1.33%. Average Wholesale Chicken is up 18.24% in the last 12 months, so even with these recent drops, you are going to want to keep your Chicken menu prices higher.
Commodity prices were all over the place, with six categories up and six categories flat to down. We are going to continue to see big swings by category so make sure you are paying attention to what is happening with your products and act accordingly.
Wholesale Price Changes
| Category | 12 Months | 3 Months | 1 Month |
|---|---|---|---|
| Ground Beef | +12.4% | +4.8% | +18.5% |
| Shell Eggs | +74.0% | +18.8% | +20.1% |
| Pork Loin | +64.9% | +16.2% | -9.2% |
| Pork Shoulder | -6.3% | +20.1% | +10.4% |
| Fresh Lettuce | +0.4% | +13.4% | +24.9% |
| Fresh Potatoes | +43.9% | +28.1% | +15.9% |
| Chicken Breast | +21.0% | +7.1% | +3.1% |
| Fresh Bell Pepper | +39.4% | +7.1% | +3.1% |
| Fresh Onion | +39.4% | +4.1% | +9.5% |
| Beef Strip Loin | -24.2% | -10.9% | -2.9% |
| Chicken Wing | +15.1% | +2.5% | +2.6% |
| Cod | +34.4% | -14.0% | -15.3% |
| Wholesale | +37.7% | +12.0% | +13.1% |
Category Trends
Ground Beef
As expected, another big jump in Wholesale (+5.21%). Commodity (-3.47%) dropped, which should pull Wholesale back down next week.
Shell Eggs
Wholesale (+4.30%) followed last week's Commodity increase. This week Commodity (0.00%) stayed flat so look for Wholesale to flatten as well.
Pork Loin
Wholesale (-14.38%) came back down with a big drop from last week's spike. Commodity (+4.30%) is up so expect Wholesale to trend higher in the future.
Pork Shoulder
Big jump in Wholesale (+10.19%) but Commodity (+1.06%) flattened a bit. Wholesale will likely be flat to up next week.
Fresh Lettuce
We were wrong on this one. Even with Commodity (-0.84%) being down again, Wholesale (+9.45%) took another big jump. Have to think it comes down soon if Commodity stays down.
Fresh Potatoes
Wholesale (+0.28%) stayed flat as expected. A big bump in Commodity (+8.24%) is going to drive that up next week.
Chicken Breast
Commodity (-0.68%) came down again and Wholesale (-4.91%) finally followed. Still room for Wholesale to come down and we expect it to minus an increase in Commodity.
Fresh Bell Pepper
A bump in Commodity (+3.44%) drove Wholesale (+2.57%) higher than expected. Expect flat to up next week.
Fresh Onion
Commodity (-3.94%) continued to drop but Wholesale spiked 12%. Hopefully, this is a short-term spike and the price comes back in line with Commodity near term.
Beef Strip Loin
A big bump in Commodity (+6.25%) kept Wholesale flat (+0.78%) and will drive Wholesale up next week.
Chicken Wing
Commodity (-1.34%) and Wholesale (-1.65%) continue to drop. Wholesale is still up 34% in the last 12 months so room to continue to come down.
Cod
Wholesale (-1.33%) dropped slightly and a big drop in Commodity (-8.00%) should continue to bring Wholesale down short term.
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