CommodityOne Weekly Report – Week of November 18, 2025

Poultry

Poultry markets held steady overall, with only minor price moves across most categories. White-meat items saw slight firmness, thigh meat continued to weaken, and turkey remained elevated heading into the holiday period. Eggs climbed sharply again as HPAI cases increased, making them the most volatile part of the protein complex. Operators monitoring ArrowStream’s real-time data will notice that chicken remains attractively priced versus last year, while eggs require short-term risk mitigation.

Outlook: Chicken pricing is stabilizing and may trend upward as lower bird weights reduce available supply. Turkey demand will fade post-holiday, while egg prices remain sensitive to ongoing HPAI developments.

Beef

Beef markets were mixed, with ribs and loins showing modest strength while chucks, rounds, and ground items softened. Slight dips in the choice and select cutouts reflected easing holiday demand and tightening supply pockets. For buyers, the data points toward tactical opportunities in grinds and end cuts while premium middle meats remain steady.

Outlook: Expect further softening in the cutout next week as holiday purchasing shifts and cattle futures stabilize at lower levels.

Pork

Pork pricing declined across most primals, including loins, hams, ribs, and trim, despite a brief lift in boneless butts tied to export demand. Market weakness reflects broad soft domestic pull-through and limited demand catalysts. ArrowStream users will see expanding value opportunities across the complex, especially in rib and loin categories.

Outlook: The pork cutout is expected to continue trending lower as lean hog prices soften and demand remains muted.

Seafood

Lobster imports stayed aligned with long-established seasonal patterns: new record highs in March followed by a predictable spring drop and stable fall pricing. Despite volatility in other seafood categories, lobster continues to offer reliable seasonal behavior and strong historical predictability, which simplifies planning for operators tracking long-term cost curves.

Outlook: December typically brings one of the softer pricing periods of the year, and lobster appears on track to follow that pattern again.

Produce

Iceberg lettuce regained ground after last week’s correction, supported by persistent tight supplies in Western growing regions. Tomatoes continued easing but stayed within expected seasonal ranges. Overall, volatility is moderating, and markets are beginning to return to a more typical November pattern after October’s spikes.

Outlook: Iceberg should begin a more sustained downturn as supply pressure eases. Tomato markets are expected to stabilize within the next one to two weeks.

Dairy

Dairy markets were mixed, with cheese prices declining, butter firming, and milk holding steady. Inventories remain balanced and production schedules consistent, while strong export demand for butter is keeping that segment elevated. Cheese shows near-term value potential, while butter requires continued monitoring for cost impact.

Outlook: Cheese prices are likely to remain soft short term, while butter pricing may stay supported by ongoing global demand strength.

Grain

Grain markets surged with activity after the USDA reopened and released both the delayed WASDE report and a large backlog of export sales. Export demand remained strong, but yield projections came in higher than bullish traders expected, leading to a quick reset in market positioning. These dynamics highlight the ongoing sensitivity of grain pricing to adjusted supply assumptions.

Outlook: Corn’s upward momentum may cool as markets recalibrate around the stronger yield outlook.