February 24, 2026 Market Report

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Produce

Tomatoes and broccoli remain key volatility drivers. Roma tomatoes are holding above $15/carton due to constrained Eastern supply. Broccoli has climbed for four consecutive weeks and could approach $50/carton if supply challenges in Mexico persist. Iceberg lettuce gains appear to be slowing, suggesting potential easing ahead.

Outlook: Tomatoes may remain elevated longer than anticipated, while broccoli carries near-term upside risk. Lettuce markets could begin to soften over the next several weeks. Regional sourcing differences may widen price variability across distributor networks.

Grain

Soybeans and wheat extended their rally, while corn slipped after failing to break above $4.40. Market strength appears influenced in part by speculative fund activity, particularly in soybean oil, despite elevated stock levels and uncertainty surrounding 2026 biofuel blending targets.

Outlook: Expect continued volatility driven by policy developments and investment activity. Grain exposure across proteins and prepared foods could see indirect cost impacts if momentum persists.

Dairy

Cheese markets strengthened, with CME blocks rising to $1.51/lb and barrels to $1.47/lb. Butter increased to $1.78/lb, though year-to-date pricing remains significantly below last year and the five-year average. Production is running near capacity, supporting export demand.

Outlook: Cheese may continue to firm in the short term, while butter remains comparatively favorable versus historical benchmarks. Balanced production levels should help prevent extreme price spikes, though export activity remains a variable to monitor.

Beef

Cattle futures strengthened, with the February contract reaching $247.50/cwt, while choice and select cutouts softened slightly. Rib and loin categories posted modest gains, including boneless heavy ribeye at $10.79/lb, while chuck rolls declined to $4.82/lb. Ground beef 81% increased to $3.69/lb. Harvest volumes remain slightly lower, providing underlying support to boxed beef pricing.

Outlook: Despite seasonally slower February demand, reduced harvest levels and significant forward brisket sales are supporting pricing. Continued firmness in middle meats and briskets should be expected as spring demand approaches, reinforcing the need for close contract compliance monitoring.

Pork

The pork cutout edged higher to $96.28/cwt with strength in loins, butts, ribs, and bellies. Boneless pork butts increased to $1.47/lb, supported by 169 loads sold into export channels. Lower harvest volumes helped sustain pricing, even as domestic retail demand remains soft.

Outlook: Pork is positioned to trend steady to slightly firmer near term. Rebuilding freezer inventories and export recovery should provide support, though domestic demand softness may limit aggressive upside movement.

Seafood

Frozen Alaskan pollock pricing rose 18.3% month over month in December trade data, reaching its highest level since last February. The rebound followed significant volatility throughout 2025.

Outlook: Pollock prices are expected to soften in March, potentially finding support near $1.40/lb in April before gradually firming later in the year. While volatility may moderate, seafood pricing remains sensitive to global trade flows and inventory positioning.

Poultry

USDA young chicken harvest climbed to 178.4 million head, up 6.4% week over week and 5.6% year over year, helping moderate recent price rallies. Boneless skinless breasts rose to $1.47/lb (up 16.5% month over month but still down 11% year over year), wings held at $1.21/lb, and thigh meat remains one of the few cuts posting year-over-year gains. Turkey pricing remains sharply elevated year over year due to ongoing HPAI-related supply constraints, while egg pricing dropped week over week but remains volatile on a monthly basis.

Outlook: Improved harvest volumes are easing short-term pressure in chicken, but dark meat strength and disease-related turkey supply risks remain key watchpoints. Egg markets may continue to fluctuate, making invoice-level price verification especially important.