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.
215-468-9190
215-468-9189 Fax
215-588-8017 Cell
Tsloan@hopkinsseafood.com

Please take into consideration when ordering next week that Pope Francis will be in the City of Philadelphia; traffic patterns are going to be severely altered as many streets & highways are going to be closed. Please be as proactive as possible & stay in constant contact with your sales person.
2) According to the US Department of Commerce retail sales were up .2% in August compared to July & were up 2.6% compared to August 2014, as consumers spent more on cars, clothing & dining out.
3) Crabmeat-our container of Bay Colony from Indonesia is in stock & we are expecting another 1 before the end of September. After softening the last 2 months it looks like prices of Pasteurized Blue Crab from Asia is firming. Lower supplies could turn the market around & cause prices to increase. Currently prices on average are down 20- 25% from their high in August 2014, when Jumbo Lump was selling for $26.00 lb & higher. The lower prices can been seen across the board in all sizes from Colossal down to Claw. There in is fear of a significant El Nino hitting Southeast Asia, which would have a negative impact in Indonesia, the Philippines & Thailand.
4) Fresh Fluke (the premier member of the Flounder family) prices are coming down due to consistent availability thanks to favorable weather & lower post summer time demand. New Jersey is keeping us supplied with Sushi Grade product that we hand cut daily at our HACCP facility.
5) New standards for imported farmed Catfish is welcomed news for US producers. Supplies of Domestic Catfish are consistent. prices remain stable. Supplies of Chinese Catfish are tight as the new season gets underway, pricing is still undetermined.
6) Demand for Lobsters & Lobster meat has decreased in the US but asking prices remain high. High demand from China & a favorable exchange rate 25-30% less than the US Dollar are the primary reasons. Canada’s sales on Lobsters to China are up 30-40% compared to last year.
7) An agreement by US & Russian officials will try to combat Illegal, Unreported & Unregulated (IUU) harvesting of Alaskan Crab. Estimates by officials, state that IUU fishing has cost the Alaskan Crab industry $600 million since 2000.
8) Long Line-the moon is entering the Waxing phase on Sept 21st, availability will decrease but quality will remain strong. We have been procuring Locally Caught Albacore Tuna as well as North Atlantic Mako Shark & Swordfish from the Grand Banks. On the frozen side Vietnam’s Tuna industry decreased by 7% in value from January to August compared to same time last year due to decreasing global demand. There is a new management plan for the fishery implemented by the Ministry of Agriculture & Rural Development. The boats will be equipped with a Vessel Monitoring System. The plan will run from 2015 to 2020 & will improve traceability. Our Bay Colony Tuna is in with everything from Triple A Saku Blocks, Center Cut Loins & exact sizes of 4,6,8 & 10 oz Ahi Steaks.
9) Indications are that Mexico’s upcoming farmed shrimp season will be greatly improved this year compared to the last 3, last year over 260,000 tons were harvested.
10) Higher asking prices for Atlantic Cod because of a modest quota reduction & strong demand from the European market have buyers inquiring about Pacific Cod & about Haddock, Hake & Pollock.
11) Currently the earthquake that hit Chile has not affected the harvesting or transportation of the fish to the processing plants & the airport.

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