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Welcome to The Tradex Foods "3-Minute Market Insight"
---The Bristol Bay sockeye harvest estimation has been downgraded from 22 million fish to
17 million fish.
This 23 percent reduction in estimated harvest may cause prices to strengthen.
Alaskan processors are reporting good sales on H&G Sockeye to date despite concerns the
price would be low.
In reality volumes of fish are selling at approximately the same level as 2011 at this
point in the season.
---Now lets talk about Chum salmon caviar.
Chum salmon caviar is very short in the market.
There are virtually no inventories of 2011 produced caviar and prices are rising sharply
as a result.
What is important about the caviar market is how it affects the carcass fish market.
A very stong caviar market will tend to strengthen grounds prices on chums as processors compete
to get the roe.
Traditionally carcass prices have been driven by the roe market and cost recovery from the
caviar sales.
Currently, carcass and value added markets for Chums soft and processors will have to
find a balance between the very stong roe market and the very weak H&G and value added
market.
---Next Up, Squid.
The squid market continues to climb as inventories dwindle.
California squid fishermen have had limited landings to date and don't expect any significant
harvest until late summer or fall.
Compounding the shortage, inventories of California loligo are depleted and product that is available
may have quality issues.
Value added processors are reporting that shortage of raw material of all species is
creating shortage.
Other squid species such as Todarodes, Illex and Chinensis are also short.
The overall picture for squid tubes and tentacles, tubes, and rings is supply shortages, demand
surplus and strong prices.
------Thank you for joining me for the Tradex Foods
"3-Minute Market Insight" This is Robert Reierson - “BUY SMART”
and “EAT MORE SEAFOOD”