MARKET UPDATE OCTOBER 30, 2022

Good afternoon,

Late season pressures are abundant this time of year. The Salinas Valley is nearing the end of its production cycle, Canadian harvests are mostly finished, and commodities in Mexico are shifting farther south and to lower elevation. We are in the thick of the fall transition, and as crops moves to warmer climates for the winter, the starts and stops between growing areas provide ample challenges.

BROCCOLI supplies look to have recovered in Salinas. Prices have not gone as low as the floor but are at least in a reasonable territory. The BROCCOLI season in northern California will last a few weeks longer than LETTUCE and LEAF. So, with a few extra weeks left in the season for broccoli, compared to a few days for leaf, we are seeing better yields and competitive markets late in the season.

HURON has begun production on LETTUCE and ROMAINE, but unfortunately, not all shippers have fields in Huron. So far, we have seen better quality and availability out of Huron, which is about 100 miles southeast of Salinas. Product is still incredibly scarce, so prorates and these hostile prices are here to stay for at least another two weeks on LETTUCE, LEAFY GREENS, ROMAINE, and ROMAINE HEARTS.

Brazilian MANGO supplies have increased here in South Florida, leading to improved market conditions. Pricing has lowered and shippers are ready to deal on large volume orders. With so many markets at their peak, mangoes have provided a nice sweet spot!

RED and BLACK PLUMS are the only STONE FRUIT left in California. We will not see any other varieties until Chilean PEACHES and NECTARINES are available sometime in early December.

Florida TOMATO crops were decimated by Hurricane Ian, leaving Mexican supplies to pick up the slack for October and November. ROUNDS, ROMAS, CHERRY and GRAPE TOMATOES are all in a demand exceeds situation with little to no supply to be had. Some growing areas in Southwest Florida that were spared from major damage. The best-case scenario is that those crops paired with early south Florida tomatoes can relieve some pressure on supplies sometime in December.

More as it happens,

Parker Tannehill