EP 306 | AIRED 11/14/2016

Sockeye Salmon Market Steady During Strong Inventory Holdings

November 14, 2016 - Welcome to The Tradex Foods "3-Minute Market Insight" This is Kyla Ganton and here is the seafood news for the week of November 14th, 2016.

Subscribe to our 3-Minute Market Insight

--- Sockeye Salmon raw material prices continue to remain stable, indicative of a steady market on finished goods for the time being. There is little price parity between sockeye fillet prices at this time, with prices ranging from $6.75 - $7.00 /LB for IVP Trim C and D fillets in Seattle. 4oz IQF Skinless Sockeye salmon portions have been steady for several weeks, after slight fluctuation during tight inventory holdings. Current pricing is around the $5.10 /LB mark in Seattle. Many speculate strong raw material inventory levels right now, so vendors are keeping their cards close to their chest while demand stagnates. It's uncommon for a lull in demand this time of year, however speculative pricing for January indicates a price drop on the horizon. Last week the Alaska Department of Fish and Game released the Kodiak salmon summary, where 2.06 million fish were harvested - only 40 percent of the 3.41 million expected. Total salmon species catch for Kodiak was only 29 percent of the 20.6 million expected, with 5.93 million salmon harvested. This makes the 2016 fishery the lowest valued fishery since 1975. As reported earlier, strong Bristol Bay Sockeye harvests have helped keep the market steady too. Our advice to buyers for Sockeye Salmon would be to hold and watch for new opportunities, continue purchasing hand-to-mouth until inventories become known. --- Taking a look at Coho salmon, Kodiak harvests were 38 percent less than expected at 206 thousand salmon caught. Total Alaska Wide catch totals for Coho Salmon were 88 percent of predictions in March, with 3.88 million Coho harvests For this season, Coho remains relatively short in the market after strong fresh sales left raw material offers short. Troll Coho has been a challenge for West Coast buyers, and Fillet offers are low at the moment. Current pricing on 1-3lb IVP Good Meat Colour Coho Salmon fillets are at $6.65/LB in Seattle, after a few months of strengthening. --- And finally, Our TradexLIVE offer of the week is for Sinbad Platinum 1-3lb IVP Sockeye Salmon Fillets. These are #1 Quality, MSC certified, Skin-on, and available in Seattle for $6.75/lb USD. Click or tap the icon above to view this offer. ----Thank you for joining me for the Tradex Foods "3-Minute Market Insight" This is Kyla Ganton - “BUY SMART” and “EAT MORE SEAFOOD"

If you have a topic you'd like to hear on upcoming 3-Minute Market Insights, tweet us on Twitter @TradexFoods

Subscribe to our 3-Minute Market Insight