CommodityOne Weekly Report – Week of November 25, 2025

Poultry

Broiler harvest increased again this week, keeping most chicken categories stable while breasts ticked slightly lower and wings continued their significant year-over-year decline. Turkey pricing remains elevated with boneless breasts still rising, and egg markets are tightening quickly as HPAI cases accelerate, creating new volatility for chains with heavy breakfast or bakery usage.

Outlook: With broiler supply steady and seasonal buying patterns shifting, the chicken complex should remain largely flat into year-end, while eggs are expected to stay elevated until HPAI disruption cools.

Beef

Beef markets softened modestly as both choice and select cutouts eased and premium holiday cuts like ribs and tenderloins reached their seasonal highs. Ground beef and lean trim saw mild upward movement, helping stabilize total protein costs for operators monitoring tight winter budgets.

Outlook:As holiday demand tapers, the beef cutout is positioned to trend lower next week, with chucks, rounds, and mid-tier loins likely to show the strongest relative performance into December.

Pork

The pork complex trended lower across most primals as bellies and trim drove a sharp pullback in the cutout, though loins, ribs, and tenderloins posted modest increases. Export demand remains solid, but domestic softness continues to weigh on overall pricing and throughput.

Outlook: The cutout is expected to continue moving lower as domestic demand remains weak, offering operators continued value-buying opportunities in the near term.

Seafood

Snapper pricing stabilized after earlier declines tied to trade volatility and seasonal patterns, settling at its lowest point since 2021 and showing limited directional movement in recent months. Historically, snapper begins firming in late Q4, aligning with upcoming seasonal demand.

Outlook:Expect upward pressure through January and elevated pricing into early Q1 before the typical spring downturn begins around late April to May.

Produce

Avocados saw a second consecutive decline, falling to $25 per carton amid a smooth transition into Mexico’s main crop and stronger-than-expected supply. Lettuce and tomatoes performed within forecast ranges, delivering predictable movement for operators planning holiday and early-Q1 demand cycles.

Outlook: Avocados may push toward $20 if supply stays consistent, while lettuce and tomatoes should hold mostly steady through year-end before typical seasonal resets in early January.

Dairy

Dairy markets were mixed, with cheese production steady and foodservice demand softer, keeping block and barrel pricing contained. Butter continued easing despite active churning schedules and stronger export interest from international buyers.

Outlook: Expect continued sideways-to-soft movement across cheese and butter as supply remains ample and export demand shows limited momentum through the holidays.

Grain

Grains pulled back across the board as the market recalibrated expectations surrounding U.S.–China soybean commitments, with sales covering only a small share of the early-year target. Soybeans led the decline, reflecting slower shipment pacing and reduced confidence in near-term Chinese demand.

Outlook: Unless export velocity improves, grains—especially soybeans—may continue unwinding truce-driven gains as markets adjust to more realistic end-of-year demand expectations.