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3-Minute Market Insight

EP 544 | AIRED 06/28/2021

Salmon Market Update as Alaska’s Salmon Season Really Gets Underway

June 28th, 2021--- This week we provide a Salmon Update as the Commercial Fishery for Alaska's Summer Salmon Season really gets underway.

--- Although the famous Copper River Salmon fishery kicked off around the end of May, Alaska's Summer Salmon season doesn't really get underway until mid June, and the start of this year's season trailed just behind the pace of last season.

However, as we roll past calendar week 25, overall landings have caught up and are surpassing the pace of last year.

Tradex Foods on Youtube
--- For Sockeye, landings are above the levels they were in 2020, indicating that the run is coming in and on time.

Fresh Sockeye offers are currently seen priced lower than the same time last year so now is a really good time to buy.

We should not see many (or any) large volume frozen Sockeye in Seattle until around mid August.

There is a very small amount of Russian Frozen Sockeye fillets floating around the marketplace.

--- Moving onto Chum Salmon and current harvest totals are indicating that landings are trending in a good direction.

This run should come in steady over for the next 12 weeks with the harvest peaking between calendar week 29 to 31.

Expect Chum Salmon pricing to be significantly higher than last season with many processors using their catch for their own internal use for fillets and portions.

Last yearm Chum Salmon inventories were extremely short and the same supply shortage should be antcipated this year as the forecast of Chums is the same as the low harvest seen in 2015.


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--- For Pink Salmon, as landings are starting to come, it's anyone's guess where it will end up however, this year, Alaska is forecasted to produce 124 million Pinks compared to a harvest of 60 million last year.

Expect prices to be high as the run doesn't typically peak until calendar week 32 to 34.

We suspect most suppliers will be hesitant to commit to Headed & Gutted Pinks (as well as Chums) until the run starts to show and increase.

--- Our recommendation echo's last week and that is to get your Salmon request into your Tradex Foods representative now.

Salmon will be higher in demand that last year and as such, expect inventories to be already pre-sold or tight, and prices to trend upwards.

--- And lastly, we would like to spotlight the pilot episode of the BBRSDA Waypoints Radio Show on KDLG Radio featuring BBRSDA Executive Director Andy Wink as host, BBRSDA President Michael Jackson representing the fleet, and our very own Tradex Foods President and CEO Rob Reierson.

In this pilot episode they discuss where the market is right now for Bristol Bay Sockeye and how the Bristol Bay Regional Seafood Development Association and the Fleet can work together to persue the mission of making the fishery as valueable as possible.

We will end our episode off with a few clips from the radio show but we will provide a link below this video to listen to the full KDLG segment.

BBRSDA Waypoints Radio Show on KDLG - Episode 1
Where the market is right now for Bristol Bay Sockeye

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