Market Report, 7.28.08
Audio Recording of Market Report, 7.28.2008
The Federal State market news is reporting the market as: DEMAND BALED VERY GOOD, OTHERS MODERATE. MARKET BALED SLIGHTLY HIGHER, OTHERS STEADY. The tone on the conference call this week indicated good demand on all sizes. 70 count carton Burbanks are at $44.00 per cwt, stable from last week, and 10# Poly is at $15.25, up $0.25 from last week.
The FWA this week was at $25.44, down $0.03 from last week, which translates into an approximate return of $12.89 per cwt, down $0.02 from last week on a Russet Burbank crop that splits 60% one’s 40% Size? The return for 45% ones 50% size is approximately $10.80. The GRI in the Columbia Basin is $14.33, up $0.02 from last week, and the Colorado GRI is $19.65, up $0.21 from last week. For additional split scenarios please refer to the Grower return matrix on unitedpotato.com.
We have completed our July 21st shed stocks on hand. The survey shows that we have approximately 1.8m cwt of pack-out left to ship. With four shipping weeks left between July 21st to the 15th of August we only need to average around 467,000 per week to ship the balance of the old crop. With all the other major shipping areas running out of potatoes and Idaho only having the supplies to average shipments below 500,000 we should have a very strong market in the upcoming weeks.
If you have any questions and want additional details please give us a call. Remember its all about the GRI. Thank you for your support.
