EP 323 | AIRED 02/20/2017

Atlantic Salmon Prices Soar and Inventories are set to get Worse - What Should You Do

February 20, 2017 - Welcome to The Tradex Foods "3-Minute Market Insight" This is Robert Reierson and here is the seafood news for the week of February 20th, 2017.

Subscribe to our 3-Minute Market Insight

--- We have watched Atlantic Salmon prices soar as inventories are set to get worse before they get better. Because Atlantic Salmon is the only fresh salmon available 365 days a year, demand is high and Fresh Atlantic pricing is at an all-time high as well. The USA Salmonex Index heading into this month was $5.90/lb for Fresh Trim D 2-3lb Atlantics in Miami In comparison, West Coast price points are hitting the high $6.00 mark for Fresh Atlantics. Last week the National Marine Fisheries Service reported 2016 imports of fresh Atlantic fillets up 3 percent in volume year-to-year but at a price tag 28 percent higher. --- For Frozen Fillets, inventories have dwindled down, especially during tightening of supply caused by Sea Lice. Warmer ocean temperatures due to global warming have boosted sea lice populations, effecting farms in Norway and Scotland. If you recall, last year's Chilean algae bloom hit the farmed salmon market hard too when 23 million fish were lost. Trim D 2-3lb Atlantic Salmon Fillet pricing has sharply risen as bare inventories shake up the East Coast. Prices in this month hit $6.45 / lb after rising from the mid-$5s in the fall last year. We typically see farmed salmon in the $3.00 range, acting as a substitute when wild salmon like Chum and Pink are short. For comparison, Trim C ocean run IVP pink salmon fillets were around $2.70/lb in Vancouver, but with limited inventory. However, this year's Atlantic pricing is actually approaching Sockeye fillet territory. Trim C 1-3lb IVP Sockeye Salmon fillets are firm at $6.75/lb since late December, with little volatility during the fall. We recommend stocking a good meat colour Chum substitute and watch the market. Buy in on farmed Salmon whne you see a drop in market price by $0.25 - $0.30 per pound. --- Finally, our TradexLIVE Offer of the Week is for 4oz Sinbad brand Pollock Loins. These are #1 Quality, packed 1x10lb, 2016 production and ready for pick up in Chicago for $1.67/lb. 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 Robert Reierson - “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