CommodityOne Weekly Market Reports

Alerts & What’s Trending

• How Can Your Barbecue Restaurant Smoke Out Costs and Still Deliver Top Flavor?
• Ready to Excite Your Menu and Protect Your Margins? Here’s How to Do Both.
• Is Your Operation Running Smoothly? The Benefits of Regular Restaurant Assessments

Produce

Iceberg lettuce prices surged nearly 45% last week to an 18-week high, yet they remain below typical fall levels due to unusually low prices since early September. With declining yields and a regional transition on the West Coast, prices are expected to continue rising through mid-November before easing back in January. Roma tomatoes saw a slight decline, but limited volumes from Florida and Mexico should keep prices stable until December, while 48-count Hass avocados dropped 1% week-over-week, though prices remain elevated 37% year-over-year.

Grains

Grain markets saw a positive week, driven by robust export sales in corn, soybeans, soybean meal, and soybean oil. Corn exports hit nearly 11 million metric tons over the past month, reaching levels last seen in 2020-21, with strong demand from Mexico, Japan, and Colombia filling the gap left by China. Soybean oil also saw impressive sales, with last week’s figure of 114,311 metric tons marking the largest weekly total since 2012, partly spurred by a rally in palm oil prices that is boosting international demand for SBO. Corn demand remains strong with support from high ethanol production, keeping the outlook bullish through year-end.

Dairy

The dairy market softened last week, with cheese and fluid milk categories showing declines. CME cheese blocks dropped 5% to $1.75/lb, and spot butter prices also dipped to $2.66/lb, though strong butter production continues in preparation for holiday demand. Milk production is gradually increasing across the U.S., and Class II cream rose by 7%, though Class III milk saw a sharp 11% decline. Retail dairy demand remains steady, with anticipated promotions expected for holiday baking season.

Beef

Beef production remained steady week-over-week despite a 1.3% decline in harvest, offset by increasing cattle weights. As holiday demand for beef wanes, cutout values dropped, with choice down 3% to $309.46/cwt and select down 2%. While rib and loin segments saw modest gains, end cuts like chuck rolls plummeted 30%, and ground beef prices fell sharply post-Halloween, down 15% to $2.55/lb. Trim prices also fluctuated, with 50% trim settling at $0.73/lb and 90% lean trim down 3%.

Pork

Pork production rose 2.4% last week, yet the cutout value declined by 5% to $97.98/cwt as most primals, except ribs, experienced price drops. Notably, the belly primal fell 10% after reaching a yearly high, and holiday-driven ham prices also decreased by 7%. In the trim segment, 42% trim saw a sharp decline of 15%, reflecting softening demand in some cuts as seasonal purchasing slows down.

Poultry

Chicken production remained steady year-over-year, supported by slightly heavier bird weights despite a 1.1% weekly drop in harvest numbers. Prices across the chicken complex are weak but stabilizing, with notable monthly declines in white meat cuts like boneless breasts (down 12%) and tenderloins (down 24%), while chicken wings also dropped 15% month-over-month. Turkey prices, however, saw significant increases as holiday demand ramps up, with whole turkeys up 6% and turkey breast prices rising 5% week-over-week.

Seafood

In September 2024, the U.S. experienced a 4.3% month-over-month increase in the average per pound price of frozen tilapia fillets, reaching $2.17. This rise deviates from the typical seasonal trend, where prices often peak between March and April and decline through the summer months. The unexpected price increase may be attributed to factors such as reduced import volumes or heightened demand during this period. Historically, tilapia prices tend to bottom out after August, making this September uptick noteworthy.

 

Alerts & What’s Trending

• How Can Pizza Restaurants Control Rising Costs? Discover Cost Management Solutions
• Looking for Cost Management Solutions? 6 Reasons to Partner with Consolidated Concepts
• Can Technology Improve Cost Management? Explore Solutions with Buyers Edge Platform

Produce

Produce markets face ongoing challenges due to the transition from Salinas to Yuma and compounded by past weather effects, pests, and incoming cold temperatures. Supplies of key items like broccoli, endive, and escarole remain tight, with limited availability projected through November, while extreme shortages are expected for items like bok choy and artichokes. Avocado volumes from Mexico look strong heading into the Super Bowl, though small sizes will dominate until late December. In the Southeast, crop volatility from hurricane damage is impacting numerous crops, including citrus, tomatoes, and peppers, signaling potential price increases and quality issues in the coming weeks.

Grains

Soybean oil (SBO) prices surged to a three-month high, influenced by rising palm oil futures, increased biofuel demand in Indonesia, and a recent flash sale of 30,000 metric tons of SBO to India, marking the first sale since March 2022. India’s significant position as the largest SBO importer globally hints at potential for ongoing sales, which could support further price gains if demand persists. Despite this recent boost, domestic demand for SBO remains softer than anticipated, making international sales crucial to sustaining momentum in the SBO market.

Dairy

The dairy market saw a mixed performance last week, with slight declines in cheese prices and fluid milk categories. Retail demand for conventional dairy increased by 11%, with cheese promotions up slightly, though cheese production remains constrained by limited milk availability. Butter prices edged up to $2.70/lb as churning activity picked up to meet seasonal needs, supported by ample cream supplies. Milk production varied regionally, with steady volumes in the East, rising output in the Central region, and mixed trends in the West.

Beef

Beef production rose 2.6% week-over-week and 1.6% over last year, driven by heavier cattle weights and increased harvest. Despite this, beef cutout values declined as demand eased, with choice cutout dropping 1% to $317.60/cwt and select falling 3%. Rib and trim segments saw slight gains, but most other cuts, particularly end cuts like chucks and rounds, experienced notable price drops. Ground beef remained steady, though prices may soften post-Halloween, while trim prices showed volatility.

Pork

Pork prices saw an upswing, with hog futures up 7% and a 4% rise in the pork cutout to $103.15/cwt, fueled by increased demand for ribs, hams, and bellies as holiday sales pick up. Key primals like ribs and bellies reached new highs, with derind belly prices climbing 24% for the month. However, the trim segment experienced significant declines, with 42% trim dropping 38% to $0.67/lb and 72% trim down 16% to $0.87/lb.

Poultry

Chicken production edged up by 0.7% year-over-year, supported by slightly larger bird sizes, though prices across the chicken complex remain weak. White meat cuts like boneless/skinless breasts and tenderloins continue to decline, down 16% and 26% for the month, respectively, while chicken wings fell 1.5% to $1.95/lb. Turkey prices showed mixed movement, with whole turkeys steady but breast prices rising by 2% as demand for Thanksgiving approaches.

Seafood

U.S. snow crab imports have significantly decreased, with August figures at 2,525 metric tons, down from 17,158 metric tons in May, marking the end of the peak season. Prices have stabilized following the volatility experienced since 2020, aligning with traditional seasonal patterns. Historically, snow crab prices are lower from August to October, suggesting that the upcoming September data is unlikely to show significant changes.

 

Alerts & What’s Trending

• Is Your Data Compliance Consistent Across Every Location?
• Are Your Vendor Contracts Fully Compliant?
• How Compliant is Your Inventory Management Process?

Produce

The produce market faces ongoing challenges as growers transition between regions, with lasting effects from heat, pest issues, and recent hurricanes impacting availability and prices. Romaine, iceberg lettuce, broccoli, and other leafy greens are seeing reduced volumes due to heat stress and pest damage, while crops in the Southeast, including citrus and tomatoes, are heavily affected by recent hurricanes, leading to significant supply losses. High demand persists for items like avocados and table grapes, though the grape season may end early due to heat-related losses, and mushrooms remain constrained across all varieties. 

Grains

The grains market remained relatively stable, with soybean oil and corn seeing slight gains. Soybean oil’s increase was largely driven by rising palm oil prices, though U.S. fundamentals may not support a prolonged rally. Corn export sales, however, continued at an impressive pace, with recent sales totaling 3.6 million metric tons—the second-highest weekly October total on record. While demand is strong, especially from Mexico, there’s speculation that these purchases could be front-loaded, potentially slowing down in future months. 

Dairy

The dairy market showed mixed results last week, with cheese and butter prices dipping slightly amid steady to strong foodservice demand. Cheese prices saw some variation, with CME blocks holding steady while barrels fell by 7.5%, and spot butter prices decreased to $2.65/lb. Milk production trends are stabilizing due to improved cow comfort in cooler regions, though high temperatures in California are impacting output; overall, Class III milk saw a slight 1% increase, reflecting steady demand. 

Beef

Beef prices continue to trend upward, with notable increases in chuck rolls, ribeyes, and beef trim, supporting an 8% monthly rise in the overall cutout, now at $321.17/cwt. Cattle weights are heavier, yet total beef production has dropped 1.3% compared to last year, pushing prices higher despite mixed movements within choice cuts. Ground beef prices show a significant monthly increase, with 81% lean up 10% even though last week saw a dip; meanwhile, trim segments are also showing volatility, with 50% trim spiking 16% week-over-week. 

Pork

Pork production rose slightly by 1% last week, with the cutout gaining 2% to reach $98.15/cwt, driven by stronger rib, ham, and belly prices. Export-demanded cuts like spareribs and hams saw significant increases, with the ham primal up 6% and medium spareribs up 4%. Belly prices are also surging, up 12% for the month, while pork trim prices spiked, with 42% trim up 8% and 72% trim up 12%, reflecting a tighter supply. 

Poultry

Chicken production is up 3% year-over-year, supported by higher harvest numbers and increased bird size, yet prices in key chicken parts continue to decline. White meat cuts, including boneless/skinless breasts and tenderloins, have seen sharp drops, down 22% and 24% this month, respectively, while wings dipped below the $2.00/lb wholesale price for the first time since February. Drumsticks and thigh meats remain mostly flat, but turkey prices are beginning to show slight movement, hinting at seasonal increases as Thanksgiving approaches. 

Seafood

Frozen Alaskan pollock prices saw a 3.3% month-over-month decline in August, reflecting sluggish U.S. demand following a sharp price drop earlier in the year and an unusual pattern in import volumes. Prices surged temporarily in spring but have since stabilized downward as imports and demand remain low. This trend highlights a weak market for pollock, with both prices and volumes declining steadily in recent months. 

 

Alerts & What’s Trending

• Struggling to Innovate While Managing Supply Chain Costs?
• Looking for Ways to Cut Supply Chain Costs?
• Is Your Supply Chain Holding You Back?

Produce

The combination of heat, ongoing pest pressures, and severe weather issues in the eastern U.S. will continue to create challenges in the coming weeks. We will closely monitor the situation and keep everyone updated as we navigate through what promises to be a hectic October for the industry. Although the weather in Salinas has cooled slightly, the lingering effects of recent heat will continue to be felt. Certain crops, including endive, escarole, leeks, cilantro, and fennel, remain escalated, with bok choy at an extreme trigger point due to light supplies.

Grains

Soybean oil futures moved lower last week with excellent crop progress 10% above last year. Last week the WASDE report from the USDA was not very impactful to the market. Canola seed futures rose, Canola oil moved slightly higher. Palm continues to be higher. Corn, soybeans, meal, oil, and wheat all moved lower.

Dairy

Shell egg markets are up this week. California and Northwest markets are up. Two farms were identified as HPAI positive over the weekend in Washington & Utah. The Block & Barrel are decreasing. Spot Cheese markets are falling faster than expected. Butter is down.

Beef

Packers once again had to pay higher for cattle and were also able to lower the weekly slaughter which helped push prices higher across most all cuts. Ribs, tenders, strips, and short loins saw the largest increases on the carcass. Chuck rolls remain very limited and are trading at four year highs. Rounds and thins saw modest increases. Market is expected to continue to stay strong.

Pork

Butts both Bone–in and boneless are trading near established price levels. Loins are steady–again, demand continues to be down. Ribs are mixed–spareribs are ramping up for new year’s, while backs and louis are steady. Bellies are steady and the market is increasing slowly since mid–September. Trim is steady with minimal increases on the week.

Poultry

Bigger birds, better hatchability, and larger egg sets are allowing extra supply on the market, especially in the boneless market. Tenders and breasts are seeing increased supply on all sizes. Wings are seeing extra availability on larger sizes. Small wing availability is tightening. Dark meat demand remains very good.

Seafood

Port strike lasted on a few days with minimal impact to the seafood imports sector. We are expecting demand to begin increasing on shellfish items due to the holidays, which generally firms that market up going into the end of the year.

 

Alerts & What’s Trending

• Ready to Turn Your Data Into Profits?
• Ready to Unlock Hidden Rebates and Boost Profits?
• Ready to Stop Overpaying?

Produce

Hurricanes Helene and Milton, combined with unfavorable weather in the U.S., Mexico, and Guatemala, as well as port delays and insect pressure in California, are causing significant disruptions to multiple commodities. Market prices remain high, and yields from the East are considerably lower. With the devastation from Hurricane Helene across the Southeast and Florida now hit by Hurricane Milton, the supply of fresh produce from South Georgia and Florida is expected to be extremely volatile. Impacted commodities include Citrus, Corn, Cotton, Tomatoes, Bell Pepper, Eggplant, Peanuts, Strawberries, and more.

Grains

Soybean oil futures moved higher with increased energy costs which is impacting palm and Canola, too. The energy markets are much higher because of tensions in the middle east.

Dairy

Shell egg markets are up this week. California and Northwest markets are up. Many buyers, anticipating a potential market uptick, are looking to secure larger positions in advance of any price increases. The Block & Barrel are decreasing. Butter is down.

Beef

Ribs are ticking higher, as buyers need to restock. Strips are mirroring ribs, while top butts weak tone has slowed. Tenderloins continue to muster strength, as packers continue to raise prices. The chuck and round complex are leveling out for the time being due to roast ads and change of the seasons. Grinds, w/reduced harvest, appear to have allowed reduction in inventory.

Pork

Butts both Bone–in and boneless are trading near established price levels. Loins are barely steady–as chop demand has decreased. Ribs are steady. Bellies are steady and market has settled. Trim is steady to higher for supply.

Poultry

Bigger birds, better hatchability, and larger egg sets are allowing extra supply on the market, especially in the boneless market. Tenders and breasts are seeing increased supply on all sizes. Wings are seeing extra availability on all sizes. Dark meat demand remains very good. Whole birds are mostly balanced.

Seafood

The port strike on the East and Gulf coasts has been suspended effective Thursday, October 3, 2025. The ILA and the United States Maritime Alliance, Ltd. have reached a tentative agreement on wages and have agreed to extend the Master Contract until January 15, 2025.

 

Alerts & What’s Trending

• Optimize Contract Management with Custom Solutions from Consolidated Concepts
• Maximize Value with Custom Contract Solutions from Consolidated Concepts
• Stop Missing Out on Savings! Simplify Contract and Rebate Management with InsideTrack

Produce

Hurricane Helene, unfavorable weather patterns across the U.S., Mexico, and Guatemala, port delays, and insect pressure in California are affecting multiple commodities. These issues have led to continued higher market prices and lower overall yields.

Grains

Soybean oil futures traded higher last week with concerns of dry South American weather ahead of their planting. Crude oil moved higher, Canola, was higher, and palm oil were higher, too. There is also a strike looming by the Longshoreman which will disrupt imports and exports for all agricultural products.

Dairy

Shell egg markets are down this week. California and Northwest markets are flat. The Block & Barrel are decreasing. Butter is down. Market participants are closely monitoring the potential impacts of Hurricane Helene and port strikes along the U.S. East and Gulf Coasts.

Beef

The SE Region demand is being impacted by hurricane Helene. Ribs continue to trade steady. Strips also are trading steady, while top butts are showing weakness. Tenderloins are steady but for how long? Chuck and round complexes are diverging; chuck rolls continue to show strength, while the round complex is adjusting lower. Grinds continue to offer opportunity to buyers.

Pork

Butts both Bone–in and boneless are trading near established price levels. Loins are barely steady–as chop demand has decreased. Ribs are steady. Bellies are steady and market has settled. Trim is steady to higher for supply.

Poultry

Bigger birds, better hatchability, and larger egg sets are allowing extra supply on the market, especially in the boneless market. Tenders and breasts are seeing increased supply on all sizes. Wings are seeing extra availability on all sizes. Dark meat demand remains very good. Whole birds are mostly balanced.

Seafood

Port Strike on the East and Gulf coast began Tuesday of this week. The impact is being assessed in the seafood sector, but the depth of the effects will be dynamic pending the length of the strike.

 

Alerts & What’s Trending

• Optimize Contract Management with Custom Solutions from Consolidated Concepts
• Maximize Value with Custom Contract Solutions from Consolidated Concepts
• Stop Missing Out on Savings! Simplify Contract and Rebate Management with InsideTrack

Produce

Hurricane Helene, unfavorable weather patterns in the U.S., Mexico, and Guatemala, and insect pressure in California are affecting multiple commodities. These issues have led to continued higher market prices and lower overall yields.

Grains

Soybean oil futures traded higher with reports of very tight stocks with good biofuel demand. Canola has moved higher with speculative trading. Palm continues to move higher and is pressuring soybean oil. Olive oil has flattened as oil stocks are poor and demand has increased with the lower market.

Dairy

Shell egg markets are down this week. California and Northwest markets are down. After a 55% drop over the past four weeks, breaking stock values appear to have hit a point of stabilization. The Block is decreasing & Barrel are increasing. Barrel hit a record high and the spread between barrel and Block has widened. Butter is down.

Beef

Packers reduced harvest late last week. Ribs continue to trade slightly higher supported by holiday bookings. In the loin complex, Strips appear to have found a floor, while tenderloins are trading higher. The chuck and round complexes are encountering resistance. Grinds continue to offer opportunity to buyers, although reduced harvest could limit availability.

Pork

Butts both Bone-in and boneless are steady. Bone-in loins were softer due to increased supply on the spot market. Light trade activity is noted again in St. Louis and back ribs so called sideways, whereas spareribs are stead. Bellies are settling, supply and demand is mixed but trading in established price levels. Trim is steady to higher for supply.

Poultry

Bigger birds, better hatchability, and larger egg sets are allowing extra supply on the market, especially in the boneless market. Tenders and breasts are seeing increased supply on all sizes. Wings are seeing extra availability on all sizes. Dark meat demand remains very good. Whole birds are mostly balanced.

Seafood

The frozen tilapia market is highly unsettled with the news of a strong typhoon hitting several areas in both China and Vietnam. Prices of imported shrimp are also increasing due to import cost increases. Octopus market continues to firm up due to increased demand in Europe and the U.S. and decreased raw material availability.

 

Alerts & What’s Trending

• Unlock Restaurant Rebates and Supercharge Your Savings Across All Locations
• Turn Restaurant Data Into Profit with Consolidated Concepts’ Scalable Solutions
• Master Restaurant Labor Costs to Maximize Profitability Without Sacrificing Service

Produce

Tropical storm Francine, unfavorable weather patterns in the U.S., Mexico, and Guatemala, and insect pressure in California are affecting multiple commodities. These issues have led to continued higher market prices and lower overall yields. The weather in the Salinas Valley is gradually becoming cooler. Recent warm rains have created conditions conducive to mildew, prompting growers to implement all possible mitigation strategies.

Grains

Soybean oil futures moved lower approximately 2% last week as stocks are improving. Helping push soybean oil down is the heavy crushing currently taking place for meal. However, very dry weather in Ohio and drought in South America has traders concerned, which is supporting soybean oil. Canola is expected to move lower.

Dairy

Shell egg markets are down this week. California and Northwest markets are down. The Block & Barrel are increasing. CME spot cheese prices rallied up to new 12-month highs this week. Butter is flat.

Beef

Packers are in a volume driven market. Ribs and tenders continue to trade steady while upper 2/3 graded product continues to support most of the demand. In the loin complex, Ch & Sel grade continue to struggle, while upper 2/3 seems to have found a floor for now. The chuck and round complexes are finding resistance. Grinds continue to trade lower as demand continues to lessen even more.

Pork

Butts both Bone-in and boneless materials are supported. Loins are steady in the bone-in sector, while boneless are mixed due to some export demand. Ribs are mixed across types. Bellies remain unsettled as supply and demand is mixed. Trim markets are sideways and down a decent amount on the week.

Poultry

Wings demand has begun to pick up as we enter football season butt here is availability. Tenders and breasts are seeing increased supply. Birds are getting bigger with cooler weather and more chickens are being hatched. Dark meat demand remains very good. Whole birds are mostly even.

Seafood

The frozen tilapia market is highly unsettled with the news of a strong typhoon hitting several areas in both China and Vietnam. Prices of imported shrimp are also increasing due to import cost increases. Octopus market continues to firm up due to increased demand in Europe and the U.S. and decreased raw material availability.

 

Alerts & What’s Trending

• 6 Reasons to Partner with Consolidated Concepts
• Maximize Savings: Transform Indirect Spend with Consolidated Concepts
• Menu Engineering: A Guide to Revamping Your Restaurant’s Menu

Produce

Tropical storm Francine and adverse weather conditions in the U.S., Mexico, and Guatemala are impacting various commodities. This situation is expected to result in prolonged elevated market prices and possible supply shortages. The temperatures in the Salinas Valley are beginning to drop.

Grains

Soybean oil futures finished the week slightly down vs. the previous week. The weaker energy markets and some technical data appear to be the driving reasons for the decline. Stats Canada released its data for Canola, and the expected yield has increased for seed. Palm oil moved lower last week after several weeks of higher moves.

Dairy

Shell egg markets are down this week. California and Northwest markets are down. The Block & Barrel are increasing. U.S. cheese exports in July were up 10.1% YoY. Butter is down, after hitting new record highs in the middle of last week, EEX butter futures pulled back a bit.

Beef

PRIME and upper 2/3rd graded product is limited. Ribs and tenders continue to hold pricing relatively steady to higher. As for the loin complex, struggles continue in the Ch and Sel arenas and buyers are hesitant to commit. The chuck and round complexes continue to perform well overall. Grinds continue to struggle to clean up inventories due to underwhelming demand.

Pork

Butts both Bone-in and boneless materials are supported, with increased pulled pork interest. Loins are steady in the bone–in sector, while boneless are mixed due to some export demand. Ribs are mixed across types. Bellies remain unsettled as supply and demand is mixed. Trim markets 72’s are steady and 42’s have weaker supply.

Poultry

Wings demand has begun to pick up as we enter football season but there is availability. Tenders continue to be mostly steady. Jumbo breasts are seeing some extra availability. Medium and small breasts continue to stay steady. Dark meat demand remains very good. Whole birds are mostly balanced.

Seafood

Commodity groundfish market continuing to firm up due to raw material availability. Prices of imported shrimp are also increasing due to import cost increases that are affecting all items coming into the country in containers. Container availability is causing the most recent incremental increase.

 

Alerts & What’s Trending

• Maximize Your Restaurant Rebates—Unlock Savings and Boost Profits Today
• Managing Data Across Multiple Locations—Streamline and Future-Proof Your Operations
• Drive Efficiency and Cut Costs—See How ArrowStream and Consolidated Concepts Can Help

Produce

Unfavorable weather patterns across the U.S., Mexico, and Guatemala are affecting multiple commodities, leading to anticipated sustained high market prices and potential supply shortages. The Salinas Valley is experiencing warmer weather than typical for this time of year.

Grains

Soybean oil futures moved higher last week. The move looked to be technical in nature, and we saw traders rolling their September futures to October futures. The Canadian rail strike seems to be at an end and weather is good on the Canadian prairies for the Canola crop. Palm oil moved higher with lower palm production.

Dairy

Shell egg markets are down this week except for Mediums are up. The Block is increasing & Barrel are decreasing. With U.S. cheese stocks down significantly YoY and cheese prices in Europe spiking, the risk is to the upside for CME cheese. Butter is up with Q3/Q4 stocks/use ratios for Europe are record tight.

Beef

Early reports show sales were less than expected as poor weather conditions impacted holiday sales. Limited harvest have led to limited supply on thin meats, PRIME, and upper 2/3rd graded cattle. Ribs and tenders are limited. The chuck and round complexes continue to perform well. Grinds are still trading slightly lower as demand is underwhelming.

Pork

Butts both Bone–in and boneless materials are supported, with increased export interest. Loins are steady in the bone–in sector, while boneless are mixed due to some export demand. Ribs are mixed across types. Spareribs are unsettled, St. Louis are steady & Back ribs are steady due to light trade activity. Bellies are unsettled as supply and demand is mixed. Trim markets have been steady.

Poultry

Wings demand has begun to pick up as we enter football season but there is availability. Tenders continue to be mostly steady. Jumbo and medium breasts are seeing increased demand as further processors continue to pull heavy. Small breasts continue to stay steady. Dark meat demand remains very good. Whole birds are mostly balanced.

Seafood

Commodity groundfish market continuing to firm up due to raw material availability. Prices of imported shrimp are also increasing due to import cost increases that are affecting all items coming into the country in containers. Container availability is causing the most recent incremental increase.