ANALYSIS: Snow Crab at Retail Heats Up

The Canadian snow crab market in the U.S. has seen 2023 product out of the Gulf of St. Lawrence. And as of this writing with data from May 24, just under 85 percent of the quota has been caught. Pricing has been very steady for the past five weeks since the open of the Gulf on 5-8s. Gulf 8 and 10-ups have seen upward pricing pressure and quotations adjusted higher May 23.

Out of Newfoundland, the stalemate has ended, and fishing has begun...

The Retail Rundown: Grilling Ads Galore

Spending on meat purchases for this year's Memorial Day cookout is expected to total $1.6 billion, according to WalletHub. For this week’s retail rundown, we’ll take a look at how this year's protein features compare to Memorial Day 2022. 

Beef features climbed to the top spot with 27.3% of buying opportunities this week. Pork comes in second with 25% of total protein ad volume, closely followed by seafood with 24.6%. Chicken has 19.7% of total retail activity, up slightly from last week. 

Starting with the beloved burger, ground beef prices are mixed. Circana data indicated that 74-84% lean ground...

ANALYSIS: Frozen Sockeye Prices Continue to Retreat Ahead of the New Season

The massive record-breaking sockeye season from 2022 continues to have a major impact across the entire salmon complex. The most immediate is the general weakening on frozen sockeye. With the upcoming season about a month away, there is pressure to move through older inventories. Many market participants report heavy discounting among some sellers to incentivize sales and keep things moving. Sockeye 2-3 lb. frozen fillets at the start of 2023 were at an average price of about $9.25/lb...

The Retail Rundown: Grocers Look to Capture Mother’s Day Spending

In this week’s retail rundown, grocers are aiming to capture a portion of this year's red-hot Mother's Day spending.

According to the National Retail Federation’s Mother's Day annual survey, 84% of U.S. adults are expected to celebrate the holiday this year. Collective spending for the holiday is anticipated at $35.7 billion, surpassing last year's record high of $31.7 billion.

Of those celebrating, 60% of consumers are planning a special outing such as dinner or brunch. Mother's Day is traditionally a dining-out occasion, benefiting foodservice more than retail.

To compete with foodservice, retailers are spotlighting deals...

ANALYSIS: King Salmon Closures Could Have a Major Impact on 2023 Pricing

The wild salmon season is almost upon us and one of many storylines for 2023 that market participants are talking about is the uncertainty of the chinook or king salmon supply this year. With dwindling numbers, California was the first to act, closing down the commercial king season for the first time since the season closed in 2008 and 2009. Oregon has also closed much of its season primarily around the Klamath River. The latest closures are for the Southeast Alaska region...

The Retail Rundown: Inching Towards May

Grilling enthusiasm is picking up as we inch closer to May. However, spring fever among shoppers may be lacking for now as chillier weather returns to portions of the country this week. 

In the meantime, grocers are preparing for several occasions next month that could help accelerate sales of various snack items and proteins.

Next week is Cinco de Mayo, a holiday that commemorates Mexico's victory over the French army in 1862. This holiday could increase sales of items including salsa and tortilla chips along with meat as consumers indulge in dishes like enchiladas and tacos...

ANALYSIS: Declines in U.S. Shrimp Imports Continue in February

In data released Wednesday, February U.S. shrimp imports fell 20 percent compared to last year, lower than some of the most bearish estimates. Imports were 116.596 million pounds compared to 145.705 million pounds last year. UB Consulting estimated 129.7 million pounds. Please click here for story. 

The decline from all trade partners was broad and swift. All were lower, even Ecuador, which bucked the overall trend in January. India (-14.4%), Ecuador (-4.9%), Indonesia (-26.5%), Vietnam (-49.4%), and Thailand (-61.8%) all dropped sharply...

The Retail Rundown: Grocers Egg on Easter Sales Grocers Egg on Easter Sales

Grocers are egging on Easter spending this week as shoppers secure last-minute needs for the first major holiday of Spring.

This year, consumers may be less eager to flock to the egg case. The Midwest large egg wholesale market has been in a sharp decline over the past two weeks and counting after rallying by more than 45% from mid-February through late March. However, prices leading up to the holiday surpassed the two-to-three-dollar mark, leaving retailers little clearance to promote aggressively...

ANALYSIS: Chilean Fresh Fillets Drop 10.1 Percent Since End of February

The farmed salmon market out of Chile for fresh fillets continued to decline this week. All sizes moved lower and since the end of February 2023, pricing on 3–4-pound Chilean fresh fillets are now 10.1 percent lower. We did see a similar trend last year in 2022 about the same time. The market dropped 6.8 percent during the month of March. 

Speculation as to why the market is dropping appears to be a combination of factors. Some reports...

The Retail Rundown: Is Chicken Wing Demand a Slam Dunk this March Madness?

Yesterday tipped off March Madness, the NCAA Division I Men's Basketball Tournament that runs through April 3. This tournament typically increases the consumption of game-day foods like chicken wings, particularly at foodservice outlets.

This year, however, wing demand leading up to this year's 84th annual edition of the tournament appears to be lackluster, according to Urner Barry market reporter Matt Busardo.

“It’s important to note that with wings moving into March Madness, it’s not like the Super Bowl where...

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ANALYSIS: Canadian Fresh Whole Salmon Down 47 Percent To Start 2023

Total whole farmed salmon imports for January 2023 are down 5.2 percent. This is the lowest January volume since 2018. The main driver in the category is Canada. Still, with little to nothing coming out of Western Canada for the first quarter of the year, Canada’s market share has shrunk significantly compared to 2022, down to 30 percent market share compared to 52 percent in 2022. Norway is chasing Canada, increasing from 15 percent in 2022 to 23 percent in...

ANALYSIS: Imports Continue To Increase For Frozen Spanish Octopus In 2022

Imports of frozen octopus or pulpo from Spain totaled 15.6 million pounds in 2022 with total product including fresh, frozen, dried, salted, brined, preserved, and prepped totaling 25.8 million pounds. Except for 2020 due to COVID, frozen Spanish octopus imports have increased each year since 2017, noting a 210.3 percent increase from just five years ago when frozen imports reported just over 5 million pounds.

Throughout 2022, harvests were producing smaller sized octopus, allowing 4-6 lb. sizes and...

The Retail Rundown: Marching Towards Spring Demand

March is here and the countdown to spring is rapidly winding down. The transition to warmer weather coincides with increased retail buying occasions as consumers and grocers alike prepare for celebrations including March Madness, St. Patrick’s Day, and Easter.

One week into lent, seafood feature volume has advanced to 40.5% this week, up from 33% the week prior. Currently, the fresh/frozen fillet category accounts for nearly 31% of seafood features. 

According to its annual survey, the National Retail Federation (NRF) found that a record 61% of consumers plan to celebrate St. Patrick's...

ANALYSIS: Average Retail Price and Promotions Higher for Fresh Salmon Heading into Ash Wednesday

The fresh Chilean fillet market has been full steady to firm since the beginning of 2023. The market is currently 16.4 percent higher than the beginning of the year. From a historical standpoint, the first half of the year typically sees a more active demand than post-Memorial day and into the summer months. January sees healthier eating habits, February has Valentine’s Day and usually the beginning of Lent, Ash Wednesday, all higher demand periods for farmed salmon.

Ash Wednesday is looked at in the industry...

The Retail Rundown: Upcoming Lenten Season Lifts Seafood Sales

Trending topics this week include the upcoming Lenten season and inflation as traders assess the latest Consumer Price Index (CPI) report released yesterday.

The Christian Lenten season begins next week on February 22 and will last through April 6. During this 40-day stretch, observers will reduce their red meat consumption. The seafood counter typically stands to benefit from this temporary shift away from meat on Fridays. 

Although Lent is rapidly approaching, retailers have actually reduced their number of seafood feature activities. For the week of February 20, seafood buying opportunities clock in at 23%, down from 31.4% the week prior. Beef narrowly holds the top spot with 29.2%, closely followed by pork with 28.5%. Chicken makes up around 15% of circular ad space...

ANALYSIS: December 2022 Shrimp Imports Decline Faster than Expected; Annual Volume Drops

In data released Tuesday, December U.S. shrimp imports fell 30.0 percent, rounding out significant declines in every month for the second half of the year. This trend completely reversed the first six months which showed growth and ignited talk of record annual imports. December imports were 135.853 million pounds against 194.101 million pounds last year. December 2022 was the second largest month on record. UB Consulting estimated 140.326 million pounds. Please click here for story. 

Annual imports came in at 1.847 billion pounds...

The Retail Rundown: Memorial Day Outlook; Assessing Proposition 12

Circulars are promoting snacks, beverages, and various protein items ahead of the approaching Memorial Day holiday—the first major retail event of the year. While burgers and hot dogs are popular choices for the holiday, other grilling items boast competitive prices this year. 

Wholesale beef prices, which have come under pressure as of late but remain at the third highest levels for the current period, may influence feature volume and retail prices this Memorial Day.

Seafood features make up 35.1% of buying opportunities this week, overtaking pork at 23.7%...

ANALYSIS: Live Lobster Prices Slide as Supply from Canadian Spring Season Enters Market

The shore price in Canada started the year at CA$8.00 and quickly escalated to CA$13.00. Limited fishing and light landings this fall and winter, combined with the short-lived demand for Chinese New Year, resulted in market prices firming in January, eventually peaking in March. Meanwhile, the Maine boat price held steady at $10.00 on limited catches. Supply constraints and sustained acquisition pricing remained in place as the spring season unfolded.

However, given the rapid increase in replacement costs, and the...

ANALYSIS: Pangasius Imports Down 50 Percent YTD

In March 2023, the United States imported a total of 11.4 million pounds of frozen pangasius fillets. Vietnam was the sole exporting country for these imports, with no imports recorded from Thailand, China (mainland), Indonesia, Malaysia, or other countries...

The Retail Rundown: Several Occasions to Boost Spending This Month

The calendar has finally changed to May and grocers are eager to capitalize on the warming trend as households begin to soak up the sun and dust off their grills.

This month has several occasions that help drive food purchases and store traffic—one being baseball season. Hot dogs, brats, beer, and more are a home run with fans with fans cheering on from home and in the stadiums.

Coming up this Friday is Cinco de Mayo, which is expected to increase ethnic food purchasing. The deli-prepared section of the store benefits from this celebration by featuring entrees like quesadillas and tacos in the days leading up to the holiday...

The Retail Rundown: Filling in the Gaps; CPI Update

Post-Easter, grocers are in somewhat of a lull over the next few mostly uneventful weeks when it comes to retail occasions. 

Retailers are currently securing inventories for Memorial Day needs and the peak grilling demand period that follows. A combination of supportive factors including warmer weather and a seasonal decrease in red meat supplies typically boosts both buying activity and wholesale beef and pork prices. 

Over in beef, cattle supplies are undergoing a significant tightening following several consecutive years of drought-induced herd liquidation and elevated feed costs...

ANALYSIS: Snow Crab Continues to Weaken Ahead of Open

The snow crab market continues to see lower pricing across all sizes. 8s and 10-ups appear to be under the most pressure with pricing dropping significantly earlier this week. 8-ups out of Newfoundland are 24.3 percent lower in comparison to the end of February this year and 51.1 percent lower than the same time last year.

These larger sizes of snow crab are, from a historical perspective, a smaller percentage of the catch out of Canada. Due to the smaller volume of these larger crab...

The Retail Rundown: Holiday Ham Breakdown

Leading up to Easter, pork feature volume moves up to the top spot with 30.1% of all protein ads. Seafood closely follows with 29.3%. Beef feature volume sits at 23%, while chicken chimes in at about 13%. Eggs ticked up to 2.2%, up from 0.7% the week prior but below 7.5% last year. 

Within the pork retail segment, hams account for 16.8% of the total feature volume. There are an estimated 27,135 buying opportunities for ham this week, up from about 23,000 the week prior.

Spiral sliced features make up the bulk of ham...

The Retail Rundown: Seasonal Switch Supports Deli Counter

Spring, which officially began on Monday, was warmly welcomed by retailers across the nation. While winter-like conditions linger for regions of the country this week, grocers are capitalizing on the seasonal shift by showcasing warm-weather favorites including grilling cuts.

In the latest week, IRI data demonstrated that beef maintained its lead on all other proteins in terms of total sales volume. Ground beef, which is widely utilized in various dishes year-round, was the number one seller within the beef complex at $63.9 million in total sales...

ANALYSIS: Cod and Pollock Imports See a Substantial Increase from China

Twice frozen cod fillets imported from mainland China, the leading supplier of frozen fillets into the U.S., is up 115.5% this January in comparison to 2022. While the fourth quarter of 2022 did see increasing imports, a year-over-year increase of 12.6%, they were minimal in comparison to January 2023...

The Retail Rundown: Key Findings From the 18th Annual Power of Meat Study

The 2023 Power of Meat Study was presented this week at the Annual Meat Conference in Dallas, Texas by 210 Analytics’ Anne-Marie Roerink. 

For this week’s retail rundown, we highlight the compelling findings from this annual report, which identified key trends from a retail meat perspective. 

Despite upward pricing pressure due to inflation, the study found that meat purchases are surpassing pre-pandemic levels. Meat had a 98% household penetration last year, making it the largest player within the fresh departments. Overall meat sales in 2022...

ANALYSIS: Blue Swimming Crab Meat Firms for First Time in Over a Year

After 13 months of just about continuous downward price movement, the blue swimming crab meat market has started to adjust higher on colossal and jumbo lump grade crab meat.

Previously sitting at 52-week lows for the past several weeks, higher raw material costs in producing countries in Asia, most notably Indonesia, have started to place upward pricing pressure on the  blue swimming crab meat market. A combination of lower imports, higher raw material costs, slower catches in Asia, and smaller crabs...

The Retail Rundown: Rounding Out February

With February nearly behind us, grocers are enthusiastically looking toward spring and warmer weather, which typically improves retail demand following a sluggish start to the year.

For now, winter remains in full force as millions of people face a massive coast-to-coast storm this week. Record-shattering warmth in the East will contrast with below-average temperatures in the West and could contribute to varying retail demand throughout the country this week. 

Along with the weather, Lent—which begins today—is currently influencing consumers' purchasing behaviors. The world’s Catholic population will reduce their red meat consumption over the next several weeks, providing a boost for the seafood counter...

ANALYSIS: Frozen Salmon Fillet Volume Almost Doubles in 5 Years

Demand for salmon in the U.S. has been reported to have excelled over the past several years. Most conferences, webinars, and presentations continue to tout salmon’s dominance at retail and most foodservice buyers would say it’s a must on their menu.

Salmon supply looks to have been keeping pace with this increased demand thus far. The fresh salmon fillet market saw a 2.4 percent increase this year and on top of that, the frozen salmon fillet market saw a 16.4 percent increase.

Taking a closer look, frozen salmon fillet volume...

Valentine’s Day 2023: Salmon to Dominate at Retail, But Same Can’t Be Said For Lobster

Valentine’s Day, a holiday of love… and spending. This year the National Retail Federation reports that consumers are expected to spend $25.9 billion on Valentine’s Day, which is up from $23.9 billion in 2022, and one of the highest spending years on record. But with inflation, is this really a surprise? 

Of course many plan on spending money on gifts, like candy, greeting cards and flowers. But the gift of an experience – including dinner – is also at the top of the list for many...