Weekly Seafood Report

Tim Sloan V.P. Sales & Marketing E.Frank Hopkins Co.,Inc. 215-468-9190 215-468-9189 Fax 215-588-8017 Cell Tsloan@hopkinsseafood.com

Tim Sloan
V.P. Sales & Marketing
E.Frank Hopkins Co.,Inc.
215-468-9189 Fax
215-588-8017 Cell

The upcoming 2015 Dietary Guideline focuses on overall healthy dietary habits opposed to individual nutrients & groupings. The advisory committee is mainly focusing on lessening heart disease & Type 2 diabetes. Everyone knows that seafood can play a vital part in tackling these 2 diseases. Try listing the protein versus fat content benefits that most species have to offer on your Blackboard Specials.
2) We are seeing limited offerings on Wild Stripers (not legal for sale in NJ) from Maryland. Availability & quality of the Farm Raised has been excellent & consistent.
3) Shrimp-imports into the US are up 8% through the 1st half of 2014, while prices are down close to 20%.There continues to be downward pressure on prices from browns from the Gulf which is causing white shrimp harvesters to lower their asking prices. The lower asking prices are because of adequate supply on weak demand. The farmed market remains virtually unchanged, except for where there is a surplus on certain sizes then discounting is occurring.
4) Shellfish availability, except for Middle necks, along the Atlantic is very good. Live Oysters from the West Coast are unavailable this week as they are experiencing high mortality & vibrio counts that are causing delays in harvesting.
5) Lobster market-asking prices for meat are 32% higher compared to same time last year because of seasonal demand & very limited supplies. The live market is higher then normal this time of the year for the same reasons that meat is tight. New Shell lobsters are now becoming available; because of higher mortality rates & less flavor Buyer Beware! Warm Water Caribbean tails are expected to begin arriving within the next few weeks.
6) Salmon-prices of farmed product from Canada, Chile, Norway & Scotland this week & so far for next have remained pretty consistent. Chilean exporters have seen their profits fall over $1.8 billion in the 1st half of 2014 because of lower prices. In response farmers are cutting production by roughly 16% in the hopes of driving up prices based on lower supplies. The US is Chile’s largest importer of Fresh Salmon in the world. On the Wild Side fresh Kings & Sockeyes remain at great money making levels for restaurants & retailers.
7) The Scallop industry has become so valuable & profitable that recently 2 companies have sold for record breaking figures. Peru is expecting to produce about 50% less scallops this year (mainly Bay Scallops used for the medallion market) & the Japanese Hokkaido is expected to produce 25% less than last year. Collectively the US is expected to be up around 10% compared to 2014 but still less than initially expected. This is causing buyers to secure product for future inventory, just to protect against further price increases. Overall prices are expected to remain high & may even increase because of these global issues. Demand remains strong despite these high asking prices.
8) Fortunately there have not been any interruption of shipments of Bronzinos & Dorades as a result of the Greece debt crisis.
9) Ground fish offerings of Cod, Hake & Pollock from the North Atlantic have remained consistent, Haddock offerings have been more sporadic.
10) President Obama is asking his task force & industry officials to identify species most at risk for Illegal, Underreported & Unregulated fishing that would jeopardize the health of the stock.
11) The European Union & Vietnam have a free trade agreement in place that would lift most tariffs on goods sold by Vietnam, obviously seafood being a large part.
12) This has been one of the best seasons for Wild Caught Halibut from both Alaska & Canada regarding availability, quality & pricing!!! The wild caught domestic season will run until November.
13) Crabmeat-asking prices for Red Swimming Crab (VIP Brand from Vietnam) are holding steady while there are occasions of lower adjusted prices on smaller sizes of Blue Swimming Crab (Bay Colony from Indonesia).
14) Quality of our Long Line Mako Shark, Swordfish, Albacore & Yellow fin Tuna has been excellent, all have been landed in Domestic waters this week!!!


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