Market Report, 8.15.08
Audio Recording of Market Report, 8.15.2008
The Federal State market news is reporting the market as: DEMAND CARTONS GOOD, OTHERS
EXCEEDS OFFERINGS. MARKET CARTONS 80-90S AND U.S. TWO 6 OZ MIN SLIGHTLY HIGHER, OTHERS ABOUT STEADY.
The tone on the conference call this week indicated demand exceeds supply on small bags with very good demand on all other sizes. 70 count carton Burbanks are at $47.00 per cwt and 10# Poly is at $18.50.
The FWA this week is at $28.29, which translates into an approximate return of $14.29 per cwt on a Russet Burbank crop that splits 60% one’s 40% Size? The return for 45% ones 50% size is approximately $12.02. The GRI in the Columbia Basin is $18.00. For additional split scenarios please refer to the Grower return matrix on unitedpotato.com.
As of Monday August 16th there will be three sheds running old crop and seven sheds running new crop potatoes. With Idaho down to 10 warehouses running limited schedules and all other fresh shipping states with limited supplies our national shipments, levels are going to well below historical averages resulting in 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.
