Undercurrent News aims to provide accurate, transparent price assessments for the salmon sector. These assessments will reflect key market trends and offer clarity for buyers, sellers, traders, and other participants within the supply chain.

All assessments listed here follow the IOSCO-aligned Undercurrent News Price Reporting Methodology, which provides transparency and clarity on data collection, pricing criteria, and assessment processes. For more details, please refer to our methodology principles.

Our methodologies are updated periodically to reflect the latest market standards and practices. When changes are made, subscribers will be informed through our regular publications and communications. Our market reporting team can address questions or provide additional guidance on methodology details or assessment-related inquiries. They can be contacted at [email protected].

Product Coverage and Specifications

Overview

Our salmon market assessments cover various categories and product types. Products are categorized by species, processing type, and origin, providing detailed and segmented price reporting.

Categories

Salmon categories

 

Pricing Structure

  • Fresh and Frozen Products: Prices are listed as FOB Miami, denoting the point at which responsibility for the product transfers from the seller to the buyer at the Miami location.

Transaction Size

All prices reflect pallet-level trade volumes (~3,500 lbs), reflecting common wholesale transactions. Prices are stated in $/lb, aligning with industry practice.

Hierarchy of Data Collection for Price Assessments

Our methodology prioritizes data to ensure accuracy and market reflection:

  • Verified Transactions: Independent, confirmed trades are prioritized to form the basis of our assessments.
  • Market Bids and Offers: Validated bids and offers open to the market are considered.
  • Supplementary Market Information includes relevant data on trends, related product relationships, and general market activity.
  • Participant Price Evaluations: Where needed, we use general indications from experienced market participants to supplement transactional data.

Quotation Timing and Frequency

Publication Schedule

Salmon prices are updated and published weekly on Wednesdays at noon EST to capture timely and accurate market shifts.

Daily Data Collection Window

Data is gathered daily from 8:00 a.m. to 5:00 p.m. EST, capturing current trading information to feed into upcoming assessments.

Terminology and Definitions

Key Terms

  • FOB (Free on Board): International trade (INCO) term where seller makes product available at a designated location (usually a port of shipment), and once loaded on vessel, the buyer is responsible for the shipping costs, insurance and liabilities. 
  • Container: A shipment unit typically holding around 40,000 pounds of product. These are often standard ocean freight containers filled with individually packaged fillets or portions, stacked and palletized for transport.
  • D-Trim: A filleting specification where the backbone, bellybones, back fins, collarbone, and most belly fat are removed, along with the pinbones and peritoneum. The tail is also trimmed, resulting in a fillet with minimal waste and consistent portioning.
  • Container Load (Air Cargo LD7): A specialized airfreight container commonly used for shipping fresh whole fish. It usually contains around 161 cases, organized in a secure, temperature-controlled environment to maintain freshness during air transport.
  • IWP: Individually polywrapped
  • PBO: Pin-bone out
  • 1–2 lbs / 4–5 lbs (Fillets): These specifications refer to the approximate weight range of individual salmon fillets in a box or case. For example, a “1–2 lbs” listing means each fillet weighs between one and two pounds.
  • 2–4 lbs / 16–18 lbs (Whole Fish): These categories indicate the typical weight of whole salmon when shipped. A “2–4 lbs” label means each fish weighs between two and four pounds, while “16–18 lbs” denotes a significantly larger whole salmon.
  • 4, 6, or 8 oz (Portions): These sizes refer to the weight of individually packaged salmon portions (often IQF). Each portion is cut to weigh four, six, or eight ounces, meeting common retail and foodservice requirements.
  • LTL (Less-Than-Truckload): A standard transaction size in the seafood industry, enabling multiple smaller shipments to share transportation costs, which aligns with realistic market values.