MARKET UPDATE 05.05.24

Good afternoon,

GRAPE markets have been elevated for several weeks as Chilean importers sought to carry limited supplies through to the beginning of the Mexican crop. Now that we are two weeks away from Mexican grapes, we are starting to see prices ease up. With new fruit, and almost certainly better quality coming soon, shippers and market makers are undergoing the balancing act of getting fair market pricing for their late season product and having an empty warehouse when Mexican fruit arrives.

California STONE FRUIT season is right around the corner! We expect to have CHERRIES, APRICOTS, and PEACHES the week of May 13th. We will slowly ease into production for the month of May and should see great availability in June.

STRAWBERRIES are starting May off nicely, with great availability and product in PEAK season. After a minor setback due to early April rains, we have had favorable growing conditions since. Fruit is in bloom and ready to sell!

LETTUCE and ROMAINE have not been as lucky as other commodities. Wet, cold conditions to start off the Northern California season have plagued leafy greens with several quality setbacks. As growers sort through fields selecting the best available product to sell, stocks are going to be impacted. Quality issues are going to exist in ROMAINE, ROMAINE HEARTS, ICEBERG, and SPINACH. We should see some warmer weather in the coming weeks that would help aid production as well as quality.

Until we see that warmer weather, we may see CAULIFLOWER markets remain high. This week there is more product available but pricing is still very high due to the lack of availability. As long as we do not receive any major rain events, the natural warming trend this month should help push growth back on schedule but for now, we have at least one more week of elevated pricing on Cauliflower.

More as it happens,

Parker Tannehill