Market Report June 22, 2022

News Category: Market Reports
Potato truck

Chip potato shipments from North Carolina and Missouri are strong. Observers indicate that the quality is good for this year’s potato crop and yields are fair, though the heat is beginning to reduce solids. Michigan’s early potatoes have reached row closure and are in full blossom.

USDA reports that growers in the eleven storage states held 53.80 million cwt of potatoes on June 1. That is 1.7 million cwt less than they held a year earlier, a 3.1% decline. Seven of the 11 reporting states had more potatoes in storage on June 1 than they held a year ago. At 72.95 million cwt, US April-May potato disappearance exceeded the 2020/21 pace by 4.55 million cwt, a 6.7% increase.

USDA indicates that Michigan growers held 900,000 cwt of potatoes on June 1. That is up from a 300,000 cwt inventory on June 1, 2021. The state’s April-May potato disappearance totaled 3.20 million cwt, up 3.2% from a year earlier.

US packers shipped 1.447 million cwt of table potatoes during the week ending June 18, 2022. That is down from 1.533 million cwt a year earlier. Michigan packers shipped 29,800 cwt of potatoes during the week ending June 18, 2022. That is down from 47,500 cwt during the same week in 2021. Last week’s Michigan shipments were all Russet potatoes.

Wisconsin packers are selling size A Russet potatoes in 10# bags for mostly $12.50-$14.00 per 50# bale, up from $12.00 per 50# bale last week. They are selling Russet 40-70 count cartons for mostly $22.00-$24.00 per 50# box, up from $19.00-$21.50 per 50# box a week ago. The weighted average shipping point price for Idaho Russet Burbanks is $24.47 per cwt, up from $23.44 per cwt last week.