EP 253 | AIRED 09/28/2015

Salmon Market Instability, Cod and Pollock Pricing on the Rise

September 28th, 2015 - Welcome to The Tradex Foods"3-Minute Market Insight" This is Kyla Ganton and here is the seafood news for Monday September 28th, 2015.

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--- --- This is Kyla Ganton filling in for Rob Reierson and here is the seafood news for Monday September 28th, 2015. --- As the October 5th opening for Chum Salmon in British Columbia approaches, we thought it would be prudent to do a quick salmon recap. We anticipate a smaller run and smaller fish size this year. Chum buyers waiting for the final openings in B.C. before purchasing inventories could be facing a price gamble. Our advice to buyers: buy your chums now, because if the fishery falls short, prices will quickly begin to spike. We saw this trend with Bristol Bay Sockeye earlier this year when prices jumped by 50 percent after an all-time low at the beginning of the season. --- Overall, there is still market instability for sockeye salmon right now. We do not see the market staying as high as it's been, but anticpate pricing to be in the low-mid $3.00 range. The big question right now is: where are all of the sockeye inventories held? Suppliers are hesistant to disclose holdings until the market settles in November, once the fisheries are done. We could see a flood of value-added product soon. --- Pink salmon was a bust in Washington State this year, and there is very little residual inventory. An estimated 6.8 million Pinks were set to return to the Puget Sound, and it's been a very slow start, but fishery managers are still optomistic. --- And for Coho salmon, supply has been quite short, causing the market to spike. Landings in Alaska are around 3.3 million fish, 69 percent of forecasts. This has caused market pricing to remain strong, rising from last year's prices in the mid $3 range to the mid $5 range. --- Our TradexLIVE offer of the week is for 4oz Sockeye Salmon Portions - #1 Quality, 2015 production, Pin Bone Out, Skin-on, IVP. There are 50,000lbs available in Seattle for $6.25 / LB. Click or tap the icon above to view this offer. --- Market pricing is heading up for once frozen Cod and Pollock as well. Cod has been coming in small, with the 4-8s and 8-16 size dominating. 16-32s were short in the A season and are even higher this season. Suppliers are not taking orders without guaranteed supply on 16 up fillets. Larger sizes of Cod fillets are up at least 50 cents over last year, in the mid-to-high $3.00 range. --- Pollock catches have been good, especially for thin fish, which are preferable for making Surimi. Single frozen Pollock prices are on the rise because of the shortage of small sizes like 4oz, and we expect the market to stay this way. ----Thank you for joining me for the Tradex Foods "3-Minute Market Insight" This is Kyla Ganton - “BUY SMART” and “EAT MORE SEAFOOD

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