Market Outlook

Prices look set to stay flat into June, aligning with the normal seasonal trend. Retail interest in Ribeyes has been slow to gain traction ahead of grilling season, and foodservice demand is likely to remain muted.

Prices look set to trade sideways in the weeks ahead, tracking the typical seasonal trend. Grilling season should keep demand steady, but shoppers may lean more heavily toward middle meats offering better value for the money.

Prices should stay well above year-ago levels, buoyed by strong retail featuring and inelastic demand from certain foodservice segments against a backdrop of limited supply.

Prices should hold a firm tone heading into June, underpinned by steady demand across retail and foodservice channels, with seasonal support further reinforced by light slaughter levels.

Prices should stay well supported in the weeks ahead, largely a function of tight supply. Steady retail demand is also keeping values firm, with buyers increasingly leaning on this cut as a cost-effective alternative to pricier middle meats.

Brisket prices are expected to steady after rallying in recent weeks on lower beef production and strong retail demand for seasonal grilling. Buyers look unlikely to chase the market much above $500/cwt, suggesting a more range-bound trade in the coming months.

Prices should begin to stabilize after an abrupt selloff, with buyers having stepped away from flap meat following the recent run-up in favor of other beef items.

Prices should find renewed buying interest after recent declines as grilling season picks up. Lower price levels are expected to draw buyers back into the market, with seasonal demand providing additional support in the weeks ahead.

Prices should find their footing heading into June, in line with the usual seasonal pattern. The recent pullback has opened up a strategic buying window, giving purchasers a chance to lock in supplies at attractive levels.

Prices will hold firm and stay well above both year-ago and five-year averages, supported by building demand for quality ground product heading into grilling season.

Prices are expected to remain well supported as retail demand for ground beef remains robust while domestic cow slaughter continues to run low. Both retail and foodservice demand are expected to strengthen in the weeks ahead.

All sizes of WOGs remain very well cleared heading into the holiday weekend. Some participants note that bird weights are still relatively light, and few offerings are making their way to the spot market. Purchasing has slowed slightly as the weekend approaches, keeping the market balanced. Market assessments remain unchanged.

Breasts and front halves are still rated full steady, though consistent sales at premium levels are slower to surface ahead of the weekend. Jumbo boneless breast meat remains heavily discounted due to lackluster demand and large production volumes hitting the spot market. Medium boneless breast meat is also pressured, though a slight uptick in retail interest following the holiday weekend has created more irregularity in sales levels. NAE boneless breast meat follows a similar pattern. Select boneless breast meat is held for mostly supportive values and is in some cases tight to short of needs. Diminished demand also affects tenders, and jumbo tenders are trading at mild discounts. Medium remains steady.

Wings appear to be testing for more stability as sellers gradually see increased volumes move at more supportive values.

In the back half, legs and thighs remain very well cleared, though hints of price sensitivity are emerging as more buyers shift toward leg quarters when possible. Bulk leg quarters are trading at stronger levels due to increased interest from deboning operations. Retail interest in 4/10 drumsticks has increased, resulting in stronger sales. Export demand shows more price sensitivity, leading to smaller volumes being moved, though market levels remain stable. Thigh meat and leg meat continue to be actively pursued, and many sellers are short on production. Any offerings shown on the spot market are being held for premium values.

Demand for whole turkeys remains the strongest part of the market, supported by limited supply and steady seasonal interest. Sellers are confident but cautious, as the market shows movement without clear direction. Frozen toms and hens continue to see active seasonal demand with supply described as barely adequate to short. Buyers remain price‑aware, but those with immediate needs have limited alternatives. Overall tone is firm, with steady to stronger interest across whole‑bird categories.

Breast meat continues to soften, diverging from typical seasonal expectations. Frozen tom, hen, and breeder meats face fully adequate supplies and fair demand, leading to discounted trades. Fresh tom and breeder meats show early signs of weakening as demand becomes choppy and marketers show more flexibility to secure sales. Overall, the breast meat complex is under downward pressure.

Prices should find a floor after the recent slide, consistent with typical February–May seasonal softness. Current levels offer value to retail and foodservice buyers, supporting more aggressive buying, though weak QSR sales should cap gains.

Prices are expected to firm in the coming weeks as seasonal production declines meet rising buying interest heading into grilling season. With buyers stepping up coverage ahead of peak summer demand and supplies tightening, the market looks set to grind higher through June.

Prices should continue to firm into June as retail demand rises seasonally and pork production tapers off. Tightening supplies alongside steady featuring activity should keep the market well supported through early summer.

Prices are projected to keep firming into June, in line with the usual seasonal pattern. Tight product availability, paired with rising retail demand on the back of growing interest in pulled pork, should lend additional support to values.

Prices will stay balanced heading into June, consistent with the usual seasonal pattern. Export demand for bone-in hams remains robust, with shipments to Mexico running at a healthy pace. Boneless ham supplies are adequate, reflecting lackluster domestic demand.

Prices are rising slightly as supply tightens, with further increases possible as regulatory impacts become clearer.

White shrimp market remains stable overall, supported by lower inbound costs from India offsetting higher costs from Central America. Outlook suggests pricing should hold steady or ease slightly, with fuel costs limiting further reductions.

Black tiger shrimp remains steady overall, with some softer levels noted on headless shell‑on and smaller sizes. Pricing is expected to remain flat or trend slightly lower, constrained by elevated freight fuel costs.

Pricing remains firm to slightly higher heading into Lent, with large sizes extremely tight to unavailable due to regulatory restrictions in key harvest areas.

Warm water lobster has stabilized, with some softer offers appearing in larger sizes. High‑volume sizes remain steady and show signs of upward pressure as supply tightens.

Prices have stabilized at elevated levels with tight supply across all sizes. Some downward pressure may emerge as the market approaches May.

Live cold‑water lobster pricing remains high and stable with tight supply, with slight downward pressure anticipated closer to May.

Lobster meat pricing remains elevated and steady, with tight supply across all sizes and early signs of easing expected later in the spring.

Canadian snow crab remains extremely tight as the new season begins, keeping pricing elevated and product scarce, especially in larger sizes.

Prices have leveled off amid continued absence of Russian supply. Some sizes remain scarce, though product is generally available.

Prices remain steady, though several producing countries are experiencing quality and consistency challenges.

Market remains steady with no significant changes expected in the near‑term outlook.

Frozen salmon has leveled off at current levels, with expectations for softer pricing in early June.

Market remains steady at current levels, with softening anticipated in early June.

Wild salmon season begins soon, with availability expected to fluctuate as fishermen shift effort toward salmon fisheries.

Supply remains steady from Asia, while Central and South American supply remains strained and is expected to stay tight through spring of next year.

Market remains stable – future pricing/forecast do not show any changes.

Scallops remain firm overall, though some sizes have softened in demand. Lower quotas suggest any cost relief will likely be temporary.

Prices continue to rise as global availability remains strained, with key sizes and cuts being allocated and relief not expected until later in the quarter.

Pacific cod has tightened as buyers shift away from higher‑priced Atlantic cod. Still a relative value, but key sizes remain limited.

Market remains stable – future pricing/forecast do not show any changes.

Season is active, though availability may be inconsistent as fishermen transition to wild salmon with the upcoming opener.

Milk production remains impressive, and is still trending steady to higher across the country as we approach the back end of spring flush. US milk production report showed a healthy 2.3% increase in March vs. the prior year and another 8k head added to domestic dairy herds from last month. This is the largest US herd since 1993 and is keeping more than enough milk coming to market to satisfy processor needs. On the cream side, stronger YOY milk fat tests have kept large amounts of cream coming to the market. Overall supplies remain comfortable, while increased demand has kept them from becoming burdensome.

The butter market is seeing large buying activity as prices push back to their lowest levels since late January. Impressive milk output so far this year has helped keep butter churns full and running hard. This has been magnified by the stronger butterfat component within the milk, pushing even more cream onto the market. The USDA confirmed the elevated production levels as updated data showed March butter output up 1.2% from the prior year . However, the cheaper prices earlier this year did support better domestic and global demand, keeping US cold storage levels limited and -11% YOY (March).

The cheese markets have pushed back towards the lower end of their range after struggling to push higher last week. Impressive milk output has helped keep cheese vats full and running hard. This was confirmed by the USDA as updated production data showed March cheese output up 1.2% from the prior year and setting a new record for the month. Italian style production saw the largest increases, while American and Cheddar output was slightly lower YOY at -2.3% and -2% respectively, as manufacturers shifted schedules to meet export commitments. Stronger dairy margins of late should continue to limit dairy cow slaughter and keep plenty of milk coming to market during the spring flush season. Cold storage figures from the USDA showed that March stocks of all cheese, and American styles, have struggled in the early seasonal build period and are both the smallest for the month since 2020.

The shell egg markets are struggling to push higher this week after a larger than expected flock and shell egg production report from the USDA. Overall flocks are still more than adequate as monthly flock data showed the US table egg laying flock as of May 1st at 306.9 million head, down 360k from last month and still +4% YOY. Seasonality would suggest softer prices into the summer months, but with prices already historically soft, further downside appears limited as flocks are likely to contract further. Demand has improved as cheaper shelf prices support retail demand. Updated cage free layers for April showed little movement as flocks were only 172k head larger than the prior month as the historically small premium to conventional eggs continued to slow further cage free conversion efforts.

Soybean oil futures are pushing back toward last week’s lows as there has not been any further escalation between the US and Iran, and hopes remain that some form of agreement could be seen soon. However, the supportive biofuel mandates will keep some level of order interest beneath the market. Domestic spot crude and refined soybean oil basis offers remain firm through Q3 as crushers look for tighter stocks ahead.

The July canola seed futures saw a modest break last week but remains rangebound, mirroring the movement in the soybean oil. The Canadian canola crop is less than 10% planted, about a week behind the average pace. RBD canola oil basis offers continued to move higher.

The July palm oil futures is pushing back towards its recent low this week, continuing to take note of soybean oil trends and the seasonally rebounding palm output and larger stocks. The Malaysian Palm Oil Board put their end of April palm oil stocks at 2.31 million metric tons, up 1.7% from March. However, Malaysian palm oil prices are likely to struggle to push lower into the summer as higher energy prices boost biodiesel demand and tighten supplies.

Asparagus markets are easing; volume is climbing across multiple growing areas. Domestic production is expanding across the Midwest and Northeast.

Mexico

• Markon First Crop (MFC) Asparagus is available; packer label is being substituted as needed
• Although jumbo and extra-large supplies are increasing, overall import volume remains low
• Standard and large-sized spears are abundant
• Quality is improving: growers report firm spears with minimal seeding
• Expect falling prices and more plentiful supplies over the next several weeks

Peru

• Imported stocks are steady; growers are shipping primarily into South Florida
• Suppliers continue to supplement large sizes
• Quality is generally good, but varies by region; high heat in certain districts has caused some dehydration and feathered tips
• Markets will ease over the coming weeks as demand shifts to regional suppliers

Domestic

• Michigan’s season is fully underway; production will increase through Memorial Day
• The Washington season has reached its peak; yields will diminish over the next several weeks
• Local programs across the Midwest, Northeast, and Canada will serve regional markets through June
• Increased domestic production is expected to reduce market pressure and support lower pricing

Quality concerns are rising as supplies tighten; pricing is expected to climb. MFC and Ready-Set-Serve (RSS) Brussels Sprouts are available; packer label is being substituted as needed.

• Markets are mostly steady with slight price fluctuations as the Mexican season winds down
• High heat is reducing both quality and supply levels

• • Internal and external burn is causing leaf discoloration
  • Insect damage has been reported, further reducing overall pack-outs
• Quality is declining, requiring closer grading and inspections
• California’s Central Coast season is slated to begin in early July
• Expect markets to gradually increase until the Salinas season begins in July

Prices for all domestic lemon sizes remain elevated due to low volume and strong demand. In early July, both offshore and Mexican lemons will supplement domestic supplies. Expect high markets and limited stocks through June.

Domestic

• MFC and Markon Essentials (ESS) Lemons are available
• District One (San Joaquin Valley) is wrapping up, leaving District Two (Southern California) the only growing region in production  
• All lemons will remain limited until the offshore and Mexican seasons begin in early July
• Growers will start holding orders to six-week averages, starting the week of 5/24/2026
• Quality is good (especially strong choice-grade fruit)
• Expect elevated markets and tight supplies through June

Offshore

• Shipments will start in late June and run through early December
• Size will be dominated by large lemons (95- through 140-count fruit), but smaller sizes will be available as well
• Expect higher pricing compared to domestic and Mexican fruit due to better quality

Mexican

• The season will begin in early July and will run through late November
• Small fruit, 165- through 235-count sizes, will dominate the crop, but larger sizes will be available
• Pricing will be comparable to domestic fruit until volume rises

Fresh-run MFC Onions are available in Southern California and New Mexico.

Pacific Northwest

• Red and white Washington onion storage supplies are finished; light supplies of storage yellow onions are available
• Growers are now transferring onions from other growing regions to fill orders as needed
• Expect higher prices on red onions; yellow onion prices are steady

Texas

• The Texas fresh-run onion season has finished

California

• Southern California is continuing its fresh-run onion harvest
• Some growers expect to finish their Imperial Valley fresh-run onion season this week with others going through the first week of June
• Northern California harvests will begin in a limited manner next week
• Weather has improved following a cooler than normal spring; volume is better this week
• Quality is good; fresh-run onions will exhibit higher moisture content, thinner skins, and overall shorter shelf life
• Markon recommends ordering for quick turns
• Expect steady prices over the next 7-10 day

New Mexico

• New Mexico’s fresh run onion season has begun in a limited manner
• Volume will increase over the next several weeks as more growers begin harvest
• Growers report a good range of sizing with supplies peaking on jumbo sizes
• Quality is good; fresh-run onions will exhibit higher moisture content, thinner skins, and overall shorter shelf life
• Markon recommends ordering for quick turns
• Initial prices are slightly higher compared to California

Georgia

• Vidalia sweet onions are available; the season will run through early September
• Red and yellow onions are now available; medium and jumbo sizes dominate the crop
• Quality ranges from good to excellent
• FOB prices are slightly higher compared to New Mexico and California fresh-run onions

Orange supplies remain extremely limited, particularly for the 113- and 138-count sizes. This tight supply is being felt across all growing regions, and unfortunately, no improvement is expected until the Chilean and South African seasons start in July. Given these ongoing challenges, size and grade substitutions will be necessary to fill orders, with the 138-count oranges presenting the greatest difficulty.

California

• MFC and Markon ESS Oranges are available 
• Overall supplies of 113- and 138-count oranges will be extremely limited through the Valencia season, which runs until October
• Expect to make size and grade substitutions, as well as date changes, to fill orders of small fruit
• Quality is good; sugar levels range from 12-13 Brix
• Expect high markets for small fruit (113- and 138-supplies)

Mexico

• The Valencia season will end the week of May 25
• Overall supplies of 113- and 138-count oranges are extremely limited
• Expect to make size and grade substitutions, as well as date changes, to fill orders of small fruit
• Quality is good; sugar levels range from 11-13 Brix
• Expect elevated prices as these stocks help fill the void in California

Florida

• Growers will ship storage fruit through June
• Supplies are dominated by 113-count and larger sizes; 138-count oranges are limited
• Quality is fair; choice and standard grades are most abundant
• Expect steady markets through June

Imported/Moroccan

• Expect the Moroccan season to end in mid-June
• Vessel delays and holdups from the USDA have further postponed loading schedules
• Valencia quality is very good; sugar levels range from 12-13 Brix
• Stocks are dominated by 113-count and 100-count sizes; 138-count fruit is extremely limited
• Expect elevated markets into mid-June

Imported/South Africa & Chile

• The season will begin in early July
• Current rain events have growers worried about size structure upon arrival into the U.S.
• Supplies are expected to be dominated by 113-count and larger sizes
• Import palletization:
  • 72 cases per pallet
  • Box weight is 33 pounds (15 KG)
• Domestic palletization:
  • 54 cases per pallet (18 KG)
  • Box weight is 40 pounds

MFC Potatoes are available in Idaho and Washington. Prices are rising in multiple regions as storage crops wind down. Markon recommends ordering for quick turns and keeping inventory tight due to shorter shelf life.

Idaho

• Storage crop MFC Norkotah and Burbank Potatoes are being shipped
• Norkotah storage supplies are expected to be depleted by late June
• Burbank volume is slowly ramping up; small sizes dominate the crop
• The gradual shift from Norkotahs to Burbanks will result in fewer 40- through 80-count potatoes
• Pressure and shoulder bruising are being reported in late-season storage supplies, but overall quality remains strong; these issues (soft, external indents) result from constant contact with adjacent potatoes or the floor while raw product sits in storage piles
• Markets are rising

Washington

• Storage crop MFC Norkotah Potatoes are available
• Remaining supplies are dominated by large sizes
• Quality is very good
• Markets are higher for larger sizes due to strong demand

Colorado & Wisconsin

• All Colorado sizes are available with good mixer volume
• Wisconsin yields are dominated by small, 90- to 120-count sizes
• Quality is good
• Prices are climbing in both regions

A stable weather pattern is expected over the next 10 days, with daytime highs near 70°F and nighttime lows in the low 50s—ideal conditions for strawberry growth. Markets remain steady, with increased activity anticipated by mid-June as shippers prepare for peak harvest volumes. Fruit quality continues to improve, supported by these favorable growing conditions.

Watsonville/Salinas

• MFC Strawberries are available
• Fruit size is large to medium-large averaging 10–15 berries, or 18-22 per one‑pound clamshell (depending on variety)
• Quality is good; some lots are exhibiting light pin rot and minor water bruising
• Prices remain elevated, with no short‑term relief expected until assessments are complete

Santa Maria

• MFC Strawberries are available
• Berry size is small-medium to medium, with smaller counts averaging 20–24 berries per one‑pound clamshell
• Overall quality is good; some bruising and white shoulders have been reported, as well as light water damage
• Prices remain elevated due to limited supplies

Oxnard

• MFC Strawberries are available
• Berry size ranges from small to medium, with counts averaging 20–22 berries per one-pound clamshell
• Defects are minimal; some white shoulders and packing‑related bruising have been noted
• Markets are high; stocks are tight