MARKET UPDATE 06.16.24

Good afternoon,

CALIFORNIA FRUIT SEASON is here as PEACHES, GRAPES, PLUMS, NECTARINES and more are getting ripe and ready for summer sales! California GRAPES are just coming into early Southern Cal availability while Mexican GRAPES are off to a hot start. Markets have eased plenty on GRAPES and although CA fruit will be a touch higher than MX, we should see some cost leveling soon.

PEACHES, PLUMS, and more are available in volume fill and 2lb pouches. We should see volume on BLACK PLUMS begin to increase as we get closer to July.

LETTUCE and ROMAINE pricing look to take a dive this week! We have some ideal weather for the next few weeks in the Salinas Valley, so hopefully this trend continues for the rest of the month. We should also see QUALITY IMPROVE with a little more sunshine for the next few weeks.

BROCCOLI is in extremely short supply this week with the majority of shippers quoting sold out. The cooler weather of the last month has caught up to growth cycles. To this point, markets have been fortunate that there has been good supplies of BROCCOLI out of Mexico and Southern California to keep prices in check. This past week, that trend has changed as all three major growing regions have fallen short. Orders may need to be prorated next week on BROCCOLI CROWNS and BUNCHES. Hopefully the good weather in the valley pulls this market out of trouble next week.

We will be fully transitioned to WASHINGTON CHERRIES next week. Original estimates predicated high volumes and we were in anticipation of a steep drop in market pricing once WA products got into full swing. Unfortunately, post harvest reports indicate less fruit coming off the trees than anticipated. As original projections were so strong, we may not see adverse effects immediately, but markets may cling to current pricing for longer than we hoped.

More as it happens,

Parker Tannehill