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3-Minute Market Insight

EP 640 | AIRED 05/15/2023

Sockeye Market Update: Alaska Salmon Season Opens with Copper River, Bristol Bay Forecast by AI, Expect Large Sockeye this year, USDA Sockeye Purchase

May 15th, 2023 - The 2023 Alaska Salmon season kicks off May 15th with the annual “First of the Season” Copper River Sockeye and Kings.

SINBAD BRANDS SOCKEYE SALMON
Pike’s Place Fish Market in Seattle set pre-order prices for Fresh Sockeye at $70 a pound for Fillets, and $53 a pound for Whole fish - Pre-orders however, were said to be “brisk”.

Utilizing A.I. and machine learning, the BBRSDA & University of Washington Salmon Program forecast a run of 50 million Sockeye, to equate to an inshore harvest of 35 million fish, which they estimate could translate to 195 million pounds.

They are forecasting for large Sockeye this year at 61 percent 3-Ocean Fish and 39 percent 2-Ocean Fish.

Alaska Sockeye Forecast

Larger fish are what the industry actually prefers and although history will show this typically leads to prices increasing, market conditions this year could instead lead to further downward price pressure.

Even though the USDA just announced the purchase of up to $67.5 million Alaska Sockeye products in what some are calling “inventory relief”, there is still a large amount of last year's inventory that remains outside of North America.

Our Recommendation is to monitor for Market Changes between now and the new season by keeping tuned into our updates.

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Alaska Pink and Chum Salmon fishing will start around Late June.

Alaska Coho Salmon fishing will start around Late July.

Russia Salmon Forecast

Russia’s Salmon season starts in June and this year is forecasted to be a colossal record breaking Pink Salmon year for them.

Stay tuned-in for more Summer Salmon season updates.

2023 UW-FRI Preseason Forecast

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