CommodityOne Weekly Report – Week of February 4th, 2025

Poultry

Chicken harvests surged 15% w/w and 2% y/y, keeping most prices stable, though white meat saw slight increases. Retail promotions were mixed, with tenderloin ads up and breast ads down, while drumsticks rose by $0.02 to $0.51/lb. With the Super Bowl approaching, chicken wing demand is expected to strengthen. 

Beef

Beef markets remained volatile, with the choice cutout at $327.92/cwt and select at $315.90/cwt. Rib prices have dropped 40% this month but should rebound ahead of spring grilling season, while choice tenderloins climbed 1% to $12.71/lb. Ground beef and trim prices remained high, with 50% trim up 31% this month. 

Pork

Pork prices trended higher, with the cutout up 1% w/w and bellies continuing a 19% monthly rise. The loin and pork butt primals also gained, while hams trended lower. Despite strong belly prices, pork trim saw sharp declines, with 72% trim down $0.16 to $0.74/lb. 

Seafood

Tilapia prices dropped 2.9% m/m, easing after a year of inflated costs. Prices are expected to decline further in the short term before rebounding between February and March due to seasonal trends. 

Produce

Roma tomatoes dropped another 28% w/w, hitting their lowest price since May 2023, but prices should stabilize soon. Avocados saw a slight price dip after a month of increases, though significant relief isn’t expected until late February. 

Dairy

Cheese prices climbed, with CME blocks up $0.10 to $1.82/lb and barrels up $0.05 to $1.87/lb, while butter prices fell 3% w/w to $2.45/lb. Retail promotions softened, but demand for milk and cheese remains steady. 

Grain

Corn prices fluctuated due to concerns over potential 25% tariffs on Mexican imports, which could impact 35% of U.S. corn exports. Meanwhile, Brazil’s slow corn planting start provides some market support.