MARKET UPDATE WEEK # 27

Good Afternoon,

After a brief week of forgiving markets, LETTUCE prices have bounced right back up again. There was an expectation of demand slipping post July 4th holiday, but we have not seen that yet. QUALITY IS AVERAGE. We are still seeing light weights, occasional rib bruising in about 10%, and some discoloration. These conditions are industry wide. SUPPLIES will be tight for at least another few weeks. CANADIAN harvests seem to have better quality and availability.

AVOCADOS have come into NEW CROP fruit in a light way. Fresh harvests out of MEXICO have just started and are still another week or two away from heavy volumes. Prices have started to come down, but the fruit is still very expensive. We are seeing good opportunities on DOUBLES and FLATS if you are looking for a price conscious substitute.

STRAWBERRY shippers are now seeing the damages from the weather we mentioned a few weeks ago. Large shippers are prorating to 80% of 6-week averages in order to keep volumes in check. BLUEBERRIES, on the other hand, are picking up in the Pacific Northwest. We are seeing supplies start to come on strong which is especially helpful with all of the heat present in Mexico.

EASTERN VEG is moving up to Michigan as areas like, GEORGIA and the CAROLINA’S finish up. Freight costs will be up significantly as well as a few different items gaping. CORN is one of those items that is yet to start up North and pretty much finished down South. Look for Eastern veg markets to fluctuate over the next 2 to 4 weeks as we transition North.

POTATO prices are expected to increase over the next few weeks. LARGER sizes are moving up in cost already and this trend is expected to be followed by SMALLER sizes. Storage crops are dwindling, and shippers are looking to stretch supplies out as long as they can in hopes of avoiding a gap.

CHERRIES are transitioning up North, but SUPPLIES are still STRONG. STONE FRUIT is also in good supply and some areas are entering peak season!

APPLE and PEAR markets are nearing the end of the 2019 supply so please try to buy ahead and keep an eye out for fluctuations. We will be switching to import D'ANJOU PEARS from Argentina in the coming weeks with BOSC pears to follow.

More as it happens,

Parker Tannehill