This Week’s Wholesale Pricing Update
This week’s wholesale pricing assessments were published with a 90-day pause (July 9) on the full implementation of reciprocal tariffs. During this period, all countries previously assigned tariff rates above 10% will instead be subject to a uniform 10% tariff. However, China is excluded from this pause and instead faces an increased tariff of 145%, effective immediately.
Undercurrent News’ week 17 (April 21-27) US wholesale price assessments for various key commodities are available on our new platform, to which UCN has just added new farmed Canadian and Norwegian farmed salmon, live lobster, wild Mexican shrimp, and octopus data.
Market Insights
Looking at US wholesale prices for live lobster, levels softened again this week with Canadian fishing areas now opening one after the other.
“Prices are expected to continue to drop as more lobster fishing areas open up in Canada and more volumes make their way through the market, with single-digit pricing likely on the horizon in the coming weeks,” said Ben Fisher, senior price reporter for Undercurrent, in his week 17 market wrap-up and price assessment.
On frozen cold-water and warm-water lobster tails, prices on the former are falling or stable, while the latter are rising across the board.
“Price action for warm-water tails is broadly higher this week. Increased orders for Mother’s Day are the driving force,” said Gary Morrison, UCN’s head of strategy.
On Canadian snow crab, fishing is underway, with more meaningful inventory being added to the market as the Norwegian season is coming to a close, said Morrison in his week 17 assessment on this category.
Initial pricing on Newfoundland and Labrador (NL) product was published this week, with levels in the Gulf of St. Lawrence steady, said Morrison. “The non-traditional spread between the Gulf and NL prices has been attributed to quota differences to start the season. Demand is still good.”
Looking at fresh Norwegian and Chilean farmed salmon, the former rose with the latter steady, according to the week 17 assessment from Lorin Castiglione, head of price reporting for North America for UCN.
“The Norwegian salmon market saw notable price increases this week for fresh fillets and whole fish, driven by reduced harvesting and processing during the Easter holiday. The shortened production week in Europe limited availability and spurred price movement, especially in the fresh category,” said Castiglione.
Canadian salmon prices also increased, both for fresh fillets and whole fish.
Stay Informed with Undercurrent News
UCN publishes its price assessments and market wrap-ups for crab, cephalopods, salmon, shrimp, frozen lobster, groundfish, farmed whitefish, and scallops every Wednesday. On Monday, UCN publishes a market pulse, giving a sense of the week ahead.
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