EP 347 | AIRED 08/07/2017
August 07, 2017 - Welcome to The Tradex Foods "3-Minute Market Insight" This is Robert Reierson and here is the seafood news for the week of August 7th, 2017.
--- Alaskan Whitefish remains in short supply as Cod and Pollock processors switch focus to Salmon this month. Nearly two thirds of the Pacific Cod quota in the Western Gulf has been harvested, with 35 thousand metric tonnes remaining of the 64 thousand metric tonne quota for the entire Gulf of Alaska. Even with decent Cod landings, several leading Alaskan processors report an apparent short supply as a result of rationing inventories for regular clients in anticipation for poor fishing in September. Some vendors even report carrying enough inventory to last regular contracts with Pacific Cod fillets through until February of next year. A few factors that could affect efforts in the September fishery are locating sizable schools of fish, cost recovery for finding fish in areas long distances from home ports, and weather, among others. We do not expect much fillet production from the Fall Pacific Cod fishery as most fillets come from the "A" fishery, so we do expect processors to continue to be cautious with their current inventories. All of these factors affect the current pricing of Pacific Cod fillets - 4-8oz shatterpack fillets are at $3.60/lb in Seattle, whereas larger fillets like 32oz up are nearly $4.20/lb. --- For Pollock, in the Western and Central Gulf, about 81 thousand metric tonnes of Alaska Pollock have been harvested as of last month, with about 58 percent of the 191 thousand metric tonne quota remaining. The majority of landings from this area will be used for single frozen fillet production. In the Bering Sea and Aleutian islands, landings typically go to China for further processing, and about 25 percent of the 1.18 million metric tonne quota remains. Good inventories of smaller sized Pollock fillets can be found in most west coast storages, around $1.65/lb for 2-4s. Bigger sizes like 4-6oz are still unavailable from most leading Alaskan packers; a trend that we've seen for the majority of the year. We expect stock levels of 1-2oz and 2-4oz Alaskan Pollock fillets to last through most of 2017 after adequate landings in January and February. --- Finally, our TradexLIVE offer of the week is for 2-4oz IQF Sinbad Pollock fillets. These are #1 quality, twice frozen, packed 4x10lbs and available for pick up in Los Angeles for $1.15/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 Robert Reierson - “BUY SMART” and “EAT MORE SEAFOOD"
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