Sockeye Salmon Market Steady During Strong Inventory Holdings

15 November 2016, at 12:00am

US - Sockeye Salmon raw material prices continue to remain stable, indicative of a steady market on finished goods for the time being, reports Kyla Ganton in the Tradex Foods 3-Minute Market Insight.

There is little price parity between sockeye fillet prices at this time, with prices ranging from $6.75 - $7.00 /LB for IVP Trim C and D fillets in Seattle.

4oz IQF Skinless Sockeye salmon portions have been steady for several weeks, after slight fluctuation during tight inventory holdings.

Current pricing is around the $5.10 /LB mark in Seattle.

Many speculate strong raw material inventory levels right now, so vendors are keeping their cards close to their chest while demand stagnates.

It's uncommon for a lull in demand this time of year, however speculative pricing for January indicates a price drop on the horizon.

Last week the Alaska Department of Fish and Game released the Kodiak salmon summary, where 2.06 million fish were harvested - only 40 per cent of the 3.41 million expected.

Total salmon species catch for Kodiak was only 29 per cent of the 20.6 million expected, with 5.93 million salmon harvested.

This makes the 2016 fishery the lowest valued fishery since 1975.

As reported earlier, strong Bristol Bay Sockeye harvests have helped keep the market steady too.

Our advice to buyers for Sockeye Salmon would be to hold and watch for new opportunities, continue purchasing hand-to-mouth until inventories become known.

Taking a look at Coho salmon, Kodiak harvests were 38 per cent less than expected at 206,000 salmon caught.

Total Alaska Wide catch totals for Coho Salmon were 88 per cent of predictions in March, with 3.88 million Coho harvests

For this season, Coho remains relatively short in the market after strong fresh sales left raw material offers short.

Troll Coho has been a challenge for West Coast buyers, and Fillet offers are low at the moment.

Current pricing on 1-3lb IVP Good Meat Colour Coho Salmon fillets are at $6.65/LB in Seattle, after a few months of strengthening.