Farmer's Report

Seafood Trends - April 19, 2019

SHRIMP, DOMESTIC

(WHITES AND BROWNS):

The winter season is coming to an end. We will be working off inventory that was packed in the fall and winter. Most producers are closing down until new pack. Currently pricing is stable, but we expect higher pricing as inventory gets lower. Brown inventory will be firm through August.

(DOMESTIC PUDS):

The winter season is coming to an end. We will be working off inventory that was packed in the fall and winter. Most producers are closing down until new pack. Currently pricing is stable, but we expect higher pricing as inventory gets lower.


SHRIMP, IMPORTED

(BLACK TIGER AND WHITES):

Both whites and black tigers are in fair to good supply. Markets are stable, and seem to want to stay at these levels for the next few weeks. Overseas pricing is showing some pressure, but with current levels in the US, pricing is stable.

(MEXICAN BROWNS AND WHITES):

There is a concern on browns, as well as large-size shrimp that are in very tight supply.


CATFISH

DOMESTIC:

Current weather patterns are causing fish not to feed; this will put pressure on growth, and we will see shortages in April and May. Pricing has moved up slightly.

IMPORTED:

We are seeing stable pricing on imported catfish. 3-5 oz. fillets are tight, but there is plenty of supply of larger fillets.


SALMON

ATLANTIC FARMED SALMON:

Pricing is now stable on frozen portions, and we do expect a flat to slightly down market for Q2. We saw a slight increase on fresh fillets due to Lent demand. 4 oz. portions are forecasted to become tight, as farmers are growing out larger fish for the Asian markets.


MAHI-MAHI

Pricing continues to trend lower, as inventory levels are in very good shape. There is talk of supply issues, due to just a fair catch this season. The summer season could put some pressure on portions.


SCALLOPS

SEA:

Pricing has turned steady, with very little movement. Fresh product is seeing some weakness, as the new season is here!

BAY:

Pricing is on the rise due to tariffs. Overall demand is steady.


TILAPIA

Inventory domestically is very good, and pricing is stable. Demand has been steady, keeping pricing in check.


PANGASIUS

Pricing is trending downward, as inventory levels in the US are in very good shape. We will see lower pricing in May.


WHITEFISH COMPLEX

COD:

The overall market was expected to stabilize due to Lenten sales, and tariffs being delayed further. Atlantic cod pricing will be mostly stable for Q2. Pacific cod will be in the boat; however, select items could see a decline while we see a slight increase in the chem-free category.

POLLOCK:

The fishery for Pacific pollock has produced only smaller fish, just 2-4 oz. fillets. This could cause an inventory issue for frozen loins if they don’t start catching larger fish. Larger fillets of 4-6 and 6-8 oz. are very tight.

HADDOCK:

Prices were expected to stabilize due to Lenten sales, and tariffs being delayed further. Q2 pricing will be mostly stable.

FLOUNDER:

Inventory levels are in good shape. Pricing is steady and quality is good. Fish from Argentina should start to firm up as the season changes.

TUNA, YELLOWFIN

(FROZEN STEAKS & LOINS):

Tuna pricing and inventory is stable.


SWORDFISH

Swordfish pricing is very stable. Inventory levels are in very good shape.


KING CRAB

(RED & GOLDEN):

Product is very short in the marketplace across all sizes, as the quota was cut again. Golden King Crab is a good alternative, as the meat is fairly sweet, with good flavor.


CRABMEAT

(BLUE & RED, PASTEURIZED):

All in all, this is a very sloppy market. We are seeing deals from certain suppliers to move off inventory. There seems to be an imbalance in movement and pricing. Inventory seems to be in good shape overall. As the summer demand starts to kick in over the coming weeks, we do think things will stabilize.

Mexico Blue Crab season is beginning to slow, as is common this time of year. Pricing is stable and supply is very good.


SNOW CRAB

ALASKAN:

The season was a fair catch this year, but Japan took a larger percentage of product, because they had fear of a reduced quota in Canada. The catch was mostly 5-8 oz. clusters. We expect to see what is left in the next week.

CANADIAN:

Fishing has started. Pricing out of the gate is high compared to last year, but we expect to see pricing drop as the pipeline fills up. There is a large concern that large sizes will remain in tight supply.

LOBSTER

NORTH AMERICAN LOBSTER:

Pricing is steady to firm, as there is not supply to support demand. The spring pack will begin on May 1st.

LOBSTER TAILS WARM WATER:

Supply on warm water tails is under pressure because the lack of cold water product. We will see higher pricing, as there is pressure on inventory.

LOBSTER MEAT:

Pricing and demand are steady. We are seeing this market firm up.