TERMINAL MARKET REPORT
Good morning and Happy Sunday. I just spent the last week without my wife, who is traveling to Colombia on Business. I can now unilaterally tell you what I have known for many years. Moms are severely underpaid, and I need mine back sooner rather than later.
Well it’s the end of the month, which usually is not a good time for retail but with Memorial Day arriving on Monday there is a little hope demand will pick up.
WATERMELONS – Mostly everyone eats watermelons on Memorial Day weekend. This year demand has been lethargic in the Northeast mostly due to terrible spring time weather. Well warm weather will finally arrive in the Northeast starting tomorrow, which should pick up demand significantly. This coupled with the Holiday should move prices higher, especially on 45’s and 60’s.
RED PEPPERS – Mexican spring deal is winding down. There are a few deals starting, closer to the US border but they are not as significant in volume. We also have Coachella peppers that are ramping up but there is not much volume there either. If this were the beginning of June, I would feel very strongly about this market but end of months, even with Holidays always show less demand. The East coast markets should be $20 as a bottom and the right money I feel is $22/$24 on 15’s $25 plus on choice.
GREEN PEPPERS – Reds go up and Greens go down. More volume here and prices will start to reflect the surge in supplies. My call is mid-twenties to start the week and prices could fall from there.
CUCUMBERS – You can bet the ranch that whatever was high priced on the Mexican deal last year, will be over planted this year. This has been going on as long as I can remember, and this year is no different. Cuke market was good last year and everyone has them this year. This market has tried to move up for 3 weeks and it has fallen back every time. I think this week will be no different. Mexican Supers will be $20, Southern much less.
SQUASH – Too many arears are producing and demand is not there to support it. We will need a major weather event to get this market out of the basement.
EGGPLANTS – Demand on eggplants are very good and supplies are short. This market should remain good for the week $24 plus on fancy eggs
ROMA TOMATOES – We are officially under the old minimum at $8.00 fob and they are moving well. Except for the tariffs that the growers have to pay this is the closest to a supply and demand market we have had in 25 years. Now before you jump on the tariff issue, please be aware that many growers are on both sides of the fence, which means they have a company that grows tomatoes in Mexico and have a company that sells the tomatoes in the USA so the tariff is in their left pocket or their right pocket but it’s in their pocket. This is not true of all, but it is true for a large part of the industry. FYI since the agreement ended, I am selling many more Roma tomatoes and that is a good thing.
LIMES. – They have fallen back to earth.
Thank you and have a great day!!!