Market Report February 2nd, 2022

News Category: Market Reports
Potato truck

At 5.09 million cwt, January US chip potato shipments fell 699,000 cwt short of 2021 movement, a 12.1% decline. Michigan and Wisconsin chip potato shipments for the month were down 12.3% and 21.2%, respectively. Shipments from the West Coast region fell 29.4% short of year-earlier movement. Growers from the Red River Valley, Maine, and New York all shipped fewer chip potatoes during January 2022 than they did a year earlier. Movement is likely to slow down after the Super Bowl.

Cold weather in Florida has set back the chip potato crop. Temperatures in the central part of the state fell to 27-30° F early Sunday morning and dropped slightly below freezing again on Monday night. Reports indicate that the potato crop received some damage, though it could recover if the weather remains favorable. Temperatures are expected to climb to 86° F later this week. The freeze is likely to reduced potato yields and delay the harvest.    

US packers shipped 1.713 million cwt of table potatoes during the week ending January 29, 2022. That is down from 1.761 million cwt a year earlier. Michigan packers shipped 72,100 cwt of potatoes during the week ending January 29, 2022. That is up from 41,400 cwt during the same week in 2021. Last week’s Michigan shipments were 84.0% Russets, 13.5% Yellow potatoes, and 2.5% Round White potatoes.

USDA reports that Michigan packers are selling size A Russets in 10# bags for mostly $11.00-$12.00 per 50# bale, up from $11.00-$11.50 per 50# bale a week ago. Wisconsin packers are selling size A Russet potatoes in 10# bags for mostly $9.00-$10.00 per 50# bale, up from $9.00-$9.75 per 50# bale last week. They are selling Russet 40-70 count cartons for mostly $16.00-$17.50 per 50# box, unchanged from a week ago. The weighted average shipping point price for Idaho Russet Norkotahs is $22.54 per cwt, down from $22.80 per cwt last week.

Red River Valley packers are selling size A Yellow potatoes in 2000# tote bags for mostly $25.00-$26.00 per cwt, up from $22.00-$28.00 per cwt a week ago.

Maine packers are selling 2 inch minimum Round White 10/5# film bags for $10.50-$11.00 per 50# bale.