EP 342 | AIRED 07/03/2017
July 03, 2017 - Welcome to The Tradex Foods "3-Minute Market Insight" This is Kyla Ganton and here is the seafood news for the week of July 3rd, 2017.
--- In anticipation for the 2017 Salmon fisheries in Alaska, the market is buzzing with predictions for where pricing is headed. According to Inseason Timing Charts from the Alaska Department of Fish and Game, we are seeing Sockeye landings around the same levels as the past two years, but several hundred thousand pounds less than the five year harvest average. Fresh sales on sockeye are still strong, freight out of Alaska has been challenging so some vendors opt to fly the fish out by plane, inflating the price by nearly a dollar a pound. For frozen, Headed and gutted pricing should be in the range of $4.05 to $4.15 per pound in Seattle for 4-6s, with 6-9s between $4.30 and $4.60 per pound. For fillets, we have seen prices jump by $0.25/lb over the past 4 weeks, likely due to catch timing and the strong fresh pricing we are seeing on Headed and Gutted,in the range of $5.00 to $6.00 per pound in Seattle. --- Moving on to Pink and Chum salmon, landings will begin to come in heavy in the next few weeks. Two years ago we saw heavier Pinks landings by the 2nd week of July, with a peak by the second week of August. Some vendors have noted that recent Pink salmon harvests have soft meat colour with subpar quality, but will likely change over the next few weeks. Boats pricing on Pinks is still in the mid $0.30 range, but we expect that price to strengthen this year. Chum boats pricing is up $0.20 per pound over last season. --- In the twice frozen market, many Chinese vendors have precommitments secured already for raw materials in the new season. It's too risky for Alaskan boats to commit to more than 3 or 4 hundred metric tonnes of Salmon at a time, but leading processors in China advised they have secured several hundred tonnes of Chum raw materials already around the $4,050 mark CFR China. As mentioned, it should be a big year for Pink salmon, so some boats are offering around $3,200 per metric tonne for Good meat colour Pinks and $2,450 per metric tonne for Pales. --- Overall, our crystl ball outlook for Salmon this year will be a 30 cent increase on headed and gutted Chums and Pinks, which will be about 40 cents per pound on value added products, based on industry-average recoveries. --- And finally, our TradexLIVE offer of the week is for 1-3lb IVP Sinbad Platinum Sockeye Salmon Fillets. We have 7,500 lbs packed 1x25lbs in storage in Vancouver at $7.40/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"
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