EP 353 | AIRED 09/18/2017

Pacific Cod Supply Is Poor, Inventories Booking Up, Containers Pre-selling on the Water

September 18, 2017 - Welcome to The Tradex Foods "3-Minute Market Insight" This is Kyla Ganton and here is the seafood news for the week of September 18th, 2017.

Subscribe to our 3-Minute Market Insight

--- As we approach the Fall, production space before Chinese New Year is rapidly booking up even during strong raw material pricing. As anticipated, Pacific Cod supply is still poor and raw materials are practically on par with it's Atlantic counterpart. Long line Pacific Cod pricing has been in the range of $4,250 and $4,400, whereas trawl pricing is at $3,700 - up from $3,600 since our last whitefish food service update in July. As a result, in the finished goods twice frozen market, Pacific Cod Loin pricing has increased too. Since the end of 2016, Pacific cod loins have strengthened about 5 cents per pound every Quarter to where we sit now at $3.10 per pound on the West Coast. Add about 8 cents for East Coast pricing. We see inventories booking up rapidly, containers are pre-selling while still on the water. --- Atlantic Cod supply has been steady, which is a breath of fresh air from this time last year. Despite steady supply though, raw materials remain strong, ranging from $3,750 to $3,850. We did see pricing this high last Fall as well, with some softening in the Spring. Based on current demand we should see the same trend in the New Year this season too. Finished goods on twice frozen Atlantic Cod Loins are around $3.25 per pound on the East Coast. We anticipate the market to stay at this price until at least December before Lenten demand might pressure the market another 5 cents. Our recommendation to whitefish buyers is to look beyond inventory needs for the Fall and pre-commit for anticipated demand in January and February. --- To wrap things up, our TradexLIVE offer of the week is for 7oz Sinbad brand Atlantic Cod Loins. We have 10,000 lbs available, packed 1x10lbs in our 100 percent guaranteed #1 quality Sinbad brand for $3.25/lb in Boston. 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