Shrimp Closing Commentary, Thursday September 17, 2009

Urner Barry Market Update -

September 17, 2009, 17:21 EST

 

White Shrimp: 31-35 count and smaller HLSO shrimp are about steady at listed levels for a quiet demand. Replacement pricing is either very close or disconnected from current spot values currently limiting further discounting especially from Asian sources. The undertone is unsettled. Larger count shrimp are unsettled as Mexican production is expected in these count sizes.

 

Black Tiger Shrimp: the HLSO market is steady at listed levels for a limited supply.

 

Mexican Wild Shrimp: the season opens later this week. The market is unquoted as the season gets underway and offerings settle. The undertone is weak as carryover inventories are discounted and pushed for sale.

 

Gulf Domestic Shrimp: Operators in the Gulf region continue to pack shrimp at a rather brisk pace. At the same time, sales range only fair to moderate. Discounts were slight, though in the reportedly heavier production sizes, U15 through 41-50 count HLSO brown shrimp. HLSO white shrimp were largely unchanged, with the exception of slight weakness in U12 count. Inventories of white shrimp are reportedly thin, though vary by individual. PUD’s ranged steady to weak. These items are well supplied.

 

 

 

 

 

 

 

 

 

The headless, shell-on (HLSO) shrimp index is a measure of general conditions in the shrimp market. It is not a reflection of any single item. Urner Barry historically tracks all of our market quotations which should be consulted for individual items.

 

The shrimp index is calculated using an average of Urner Barry market quotations; additionally the quotes are weighted based on the import volume of each count size. Shell-on shrimp imports from the Black Tiger producing countries and White producing countries of Thailand and Indonesia have been edited in order to reflect those countries significant shift in production from Black Tiger to P. vannamei. Shrimp imports from other countries are divided into either Black Tiger or White producing countries.

 

The bottom chart represents the weight, in million pounds, of monthly shell-on shrimp imports.

 

 

 

 

 

 

The headless, shell-on (HLSO) shrimp index is a measure of general conditions in the shrimp market. It is not a reflection of any single item. Urner Barry historically tracks all of our market quotations which should be consulted for individual items.

The shrimp index is calculated using an average of Urner Barry market quotations; additionally the quotes are weighted based on the import volume of each count size. Shell-on shrimp imports from the Black Tiger producing countries and White producing countries of Thailand and Indonesia have been edited in order to reflect those countries significant shift in production from Black Tiger to P. vannamei. Shrimp imports from other countries are divided into either Black Tiger or White producing countries.

The bottom chart represents the weight, in million pounds, of monthly shell-on shrimp imports.

 

Urner Barry Market Update -

September 17, 2009, 17:11 EST

 

Farmed Salmon: The Northeast wholefish market is steady at listed levels. Supplies of smaller sized fish remain adequate to fully adequate for a fair demand. Larger wholefish, on the other hand, continue barely adequate for a moderate demand.

 

The Northeast fillet market is unsettled on 2-3s; quotations adjusted lower.

 

The European wholefish market is unsettled on 6-7s; both higher and lower offerings are noted. The balance of the market is unchanged.

 

The European fillet market is steady at listed levels. Supplies range barely adequate to adequate for a moderate demand.

 

European frozen fillets are still reported in the market; pricing looks to trend between 4.35 and 4.50 for 3-4 pound d-trim fillets. European portions are noted between 5.90 and 6.50.

 

The Chilean fillet market is steady; supplies are adequate to barely adequate for a moderate demand. Supplies in the Miami spot market are light and a holiday in Chile is expected to further tighten supplies in the U.S. market.

 

The Chilean Steelhead market is steady at listed levels.

 

West Coast wholefish are unsettled on 10-12s; both higher and lower offerings are noted. European wholefish is reported to be causing some downward pricing pressure on this size. Smaller wholefish, in general, are adequate to fully adequate for a moderate to fair demand. Similar to the Northeast, the West Coast's supply of larger wholefish is tight.

 

 

Urner Barry has corrected the salmon index which has been understated, and included European imports and pricing. The index has then been recalculated the index for 2009 to provide a truer picture of the overall salmon market.

 

Wild Salmon: The chum market remains full steady; semi-brites or better are noted at the lower end of quotations. The net king market continues to weaken; supplies are fully adequate for a fair demand. The balance of the wild market is steady.

 

Janice Brown

Urner Barry Publications, Inc.

732-240-5330 ext 280

janice@urnerbarry.com

www.urnerbarry.com

 

 

 

 

The top chart represents Urner Barry's Salmon Index. This index is calculated using Urner Barry market quotations listed in Urner Barry’s Seafood Price-Current. Those quotations are then weighted, based on the average amount of product imported for whole fish and fillets.

 

The bottom chart represents the weight, in million pounds, of monthly imports of Chilean Fillets, European Fillets, Northeast Whole East, European Whole, and Seattle Whole West.

 

Note: Urner Barry's Fresh Farmed Salmon Index is an indication of the combined average value for Chilean fillets, European fillets, Northeast wholefish, European wholefish, and West Coast wholefish. It institutes a weighted value of each commodity as a proportion of the total supply from the producing areas. For example, if Chilean fillets represent 60% of the total, West Coast wholefish 25% and North Atlantic wholefish 15%, the value of each commodity would be weighted accordingly. This index is intended to be viewed as a snapshot of the general health of the fresh farmed salmon market in the United States.