This month’s report also includes a Spotlight article on what’s driving oil prices, as well as the latest Economic headlines, Data and trends, and a Quarterly Economic Report,.
Major commodity insights
AgWest’s outlook for major commodities is summarized below. Visit AgWest’s Industry Insights for an expanded analysis of each industry, monthly economic headlines, relevant data and trends, and additional special reports. Or download a PDF of the complete report here.
Average almond prices fell about 8% in June, but remain up 23% year over year. Demand from key markets is down. The 2025 pistachio crop is progressing well. While the industry does not yet have an official size estimate, most expect a large crop due to alternative bearing.
Prices strengthened slightly across several key varieties in June, including Cosmic Crisp at 7.7%, Honeycrisp at 6.4% and Fuji at 4.6%. Many expect the 2025 pear crop to come in large with good quality, and the 2025 Northwest cherry crop is progressing well.
The USDA’s June report noted a 1.2% drop in cattle on feed from the previous year, highlighting bullish industry trends. This decline stems from the continued tight supply of feeder cattle.
U.S. milk production increased for the fifth consecutive month in May, rising 1.6% year over year. In the West, producers saw mixed results.
Lumber prices were mixed in June, with those for Douglas-fir flat and Southern Yellow Pine down 8.8%. Lower import and production levels offset relatively soft demand.
Hay prices in the West have remained stable overall, though premium and fair-grade hay are $5-10 lower than this time last year. Mid-June storms brought wind and rain across the western U.S., causing cutting delays and some hay damage.
Navel harvest is wrapping up and prices finished the season out strong, rising 45% from late March lows. Initial estimates of crop size now appear overstated. Lemon harvest is wrapping up in the Central Valley and is in full swing in the coastal region of California. Prices are down year over year across all sizes.
| Potatoes |
Northwest potato crop development is two weeks ahead of schedule, supported by ideal growing conditions. Open market prices have shown improvement but remain below breakeven levels for many producers.
The 2025 wheat season in the Northwest shows mixed results. Most winter and spring wheat crops are rated in good to excellent condition, but persistent dry conditions may impact yields. Federal agencies have received a directive to withdraw from a fish passage and habitat memorandum which had the potential to negatively impact grain transportation.
About AgWest Farm Credit |
AgWest Farm Credit is a financial cooperative with approximately $35 billion in total assets as of 2025. It provides financing and related services to farmers, ranchers, agribusinesses, commercial fishermen, timber producers, rural homeowners, and crop insurance customers in seven Western states. AgWest is part of the 109-year-old Farm Credit System, the nation’s leading provider of credit to agriculture. With 59 locations across the West, AgWest is committed to serving its customers and supporting local communities.
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