The short Thanksgiving week is here, and we are happy to distract you from your inevitable flight delay, resident family conspiracy theorist, or last couple of days in the office.
An atmospheric river pumps rain and snow into the West. Last week, a bomb cyclone fueled by an atmospheric river slammed the Pacific Northwest, bringing widespread power outages and road closures due to downed trees. A bit further South in California wine country, over 12 inches of rain was reported.
This week, the wet and snowy trend continues for the West, thanks to the persistent presence of an atmospheric river. More rain and wintery weather are expected at the beginning of the week in Western parts of the country.
As we move closer to Thanksgiving, a cold front will sweep from West to East, bringing daytime temperatures down and in line with or slightly below historical averages for week #47. The southernmost, Brawley, CA, is expected to stay dry with cool temps, ranging from mid-40s to mid-70s each day.
A large swath of commodities are in the line of fire on the West Coast. The supply of lettuce, broccoli, cauliflower, strawberries, oranges, and blackberries all have the potential to be negatively impacted by inclement weather this week.
ProduceIQ Index: $1.33/pound, up +10 percentover prior week
Week #47, ending November 22
ºÚÁϳԹÏÍø has teamed with ProduceIQ to bring the ProduceIQ Index to its readers. The index provides a produce industry price benchmark using 40 top commodities to provide data for decision making.
The flattened East Coast supply of tomatoes and squash by Hurricanes Helene and Milton helps dictate overall market trends in week #47. The ProduceIQ index is up +10 percent over the previous week. The substantial increase is partly driven by the losses growers suffered on the East Coast during this year’s destructive hurricane season.
White onion prices rise to a ten-year high for week #47. Pre-Thanksgiving Day demand is strong for all colors and sizes, but the supply of red and yellow onion varieties is more readily available than white varieties. A sweltering summer in the Northwest and drought conditions in Texas are two factors ordering market prices. Average prices will likely rise through Christmas.
Red bell peppers might be the only type of bell pepper to make it to the Thanksgiving table this year. Average bell pepper prices aren’t quite as high as the duct-taped banana Sotheby’s auctioned off for over $6 million last week. Still, orders of green, yellow, and orange peppers may feel just as extravagant for the deal-hungry pepper buyer.
Averaging $28, bell pepper prices reach record highs for week #47. Weak supply in the East due to impacts from Hurricane Milton is forcing buyers to lean heavily on growers in Mexico and California. Supply is forecasted to remain tight through December.
Thanksgiving demand and short supply are heating up prices in squash markets. Supply is short in the East and West for zucchini and yellow squash varieties. Averaging $17, Squash prices are at the second highest for week #47 in the last ten years. Cooler weather in growing regions is tightening supply and will likely keep markets elevated until supply out of Nogales increases later this month.
Broccoli prices soar as rain in Santa Maria, CA, and Salinas, CA, throw a wrench in growers’ smooth transition plans. Production in Yuma is increasing, but volume won’t be able to cover the gap left by waning California production until after Thanksgiving.
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ProduceIQ is an online toolset designed to improve the produce trading process for buyers and suppliers. We save you time, expand your opportunities, and provide valuable information to increase your profits.
ProduceIQ Index
The ProduceIQ Index is the fresh produce industry’s only shipping point price index. It represents the industry-wide price per pound at the location of packing for domestic produce and at the port of U.S. entry for imported produce.
ProduceIQ uses 40 top commodities to represent the industry. The Index weights each commodity dynamically, by season, as a function of the weekly 5-year rolling average Sales. Sales are calculated using the USDA’s Agricultural Marketing Service for movement and price data. The Index serves as a fair benchmark for industry price performance.