Market Report February 7, 2024

News Category: Market Reports
potato truck

January U.S. chip potato movement totaled 3.800 million cwt. That is 272,000 cwt less than the industry shipped a year earlier, a 6.7% decline. At 623,000 cwt, Michigan’s reported January shipments fell 345,000 cwt short of 2023 movement. However, Michigan’s chip potato shipments during the week ending Jan. 20 may have been underreported, at only 38,249 cwt. Cold weather may have slowed movement that week, but it could also be a reporting issue. Wisconsin shipped 787,000 cwt during the month, 9.0% less than it shipped a year earlier. Shipments from the West Coast region and the Rocky Mountain region increased by 14.0% and 17.5%, respectively. Reported chip potato movement from the Red River Valley jumped by 38.1%, while shipments from the Mid-Central region increased by 17.7%.

Michigan growers have shipped 5.218 million cwt of chip potatoes since Aug. 1 compared to 6.715 million cwt during the same 27-week period a year earlier. That is down 22.3% from year-earlier movement. Chip potato movement from Wisconsin is down 7.5% from last year’s pace. Reported shipments from New York nearly match last year’s movement. Maine’s shipments are up 10.5%. US chip potato movement totaled 27.540 million cwt during the same timeframe, 22,000 cwt below year-earlier movement.

Florida’s 2024 potato crop is in good condition despite challenging weather during planting. Heavy rainfall early in the growing season created some challenges in south Florida. The first potatoes are beginning to emerge in the northern growing areas. Rain and cool temperatures during the first two weeks of January have slowed planting progress. There has not been any frost. Overall, a little over half of north Florida’s potato crop is in the ground, though a few growers are nearly finished planting. Chip potato acreage is down in south Florida. Both table and chip potato acreage appear to be relatively flat in the northern part of the state. 

U.S. packers shipped 1.646 million cwt of table potatoes during the week ending Feb. 3. That is up from 1.408 million cwt shipped a year earlier. Michigan packers shipped 58,830 cwt of potatoes during the week ending Feb. 3. That is down from 68,575 cwt shipped during the same week in 2023. Last week’s Michigan shipments were 79.6% russets, 13.6% yellow potatoes, 5.0% round white potatoes, and 1.9% red potatoes.

The USDA reports that Michigan packers are selling size A russets in 10-pound bags for $10-$14.75 per 50-pound bale, unchanged from last week. They are selling size A russets in 5-pound bags for $11-$15.75 per 50-pound bale, also unchanged. Wisconsin packers are selling size A russet potatoes in 10-pound bags for mostly $8.50-$9.50 per 50-pound bale, unchanged from last week. They are selling russet 40-70 count cartons for mostly $10-$12 per 50-pound box, unchanged from a week ago. The weighted average shipping point price for Idaho Russet Norkotahs is $14.34 per cwt, down from $15.31 per cwt last week.

Wisconsin packers are selling 10/5-pound bales of size A yellow potatoes for mostly $17-$17.50 per bale, unchanged from a week ago. They are selling 50-pound cartons of size A yellow potatoes for mostly $17-$17.50 per 50-pound box, also unchanged. Red River Valley packers are selling size A yellow potatoes in 2,000-pound tote bags for mostly $21-$22 per cwt, unchanged from a week ago. They are selling yellow creamers in 50-pound cartons for mostly $30 per 50-pound box, also unchanged. 

– Report by North American Potato Market News