After seeing all time highs in 2021-2022 pallet prices began to drop down the lower prices across the board in 2023. While this was great for companies purchasing pallets, many pallet yards were hit hard by this sudden drop.
Pricing Factors
The lower prices in 2023 came as a shock to many pallet yards. Although it is not so much a price drop but more so a stabilization and return to normal price correction. Supply chain issues and the pandemic had caused prices to skyrocket. Which in turn led to a flood of Venture Capital money and acquisitions in the pallet industry. This allowed larger players in the industry such as 48 Forty and Kamps Pallets to open dozens of new locations across the United States. Additionally many more smaller yards opened up as they were trying to capitalize on this pallet gold rush. That led to an oversupply of pallets and an increase in production of used wooden pallets.
In 2021 supply was the issue for pallet yards, in 2023 demand has become the problem. Many yards have had to drop prices significantly and companies are able to find used pallets at cheaper prices. This trend will likely continue into 2024.
Below is the average prices we sold pallets at in each state.
Monthly Price Trends (2023)
| Month | New | Grade A | Grade B | Pallet Cores |
|---|---|---|---|---|
| January | $7.59 | $5.47 | $3.69 | $1.13 |
| February | $7.56 | $5.45 | $3.67 | $1.12 |
| March | $7.54 | $5.44 | $3.66 | $1.11 |
| April | $7.51 | $5.42 | $3.64 | $1.10 |
| May | $7.49 | $5.41 | $3.63 | $1.09 |
| June | $7.46 | $5.39 | $3.61 | $1.08 |
| July | $7.44 | $5.38 | $3.60 | $1.07 |
| August | $7.41 | $5.36 | $3.58 | $1.06 |
| September | $7.38 | $5.34 | $3.57 | $1.05 |
| October | $7.36 | $5.33 | $3.56 | $1.04 |
| November | $7.33 | $5.31 | $3.54 | $1.03 |
| December | $7.31 | $5.30 | $3.53 | $1.02 |
National Average
- Total Average New Pallet Price: $7.45
- Total Average Grade A Pallet Price: $5.48
- Total Average Grade B Pallet Price: $3.70
- Total Average Pallet Cores Price: $1.08
Price By State
| State | New | Grade A | Grade B | Pallet Cores |
|---|---|---|---|---|
| Alabama | $7.25 | $5.15 | $3.75 | $1.15 |
| Alaska | $8.50 | $6.50 | $4.50 | $1.50 |
| Arizona | $6.50 | $4.50 | $3.00 | $0.75 |
| Arkansas | $5.50 | $4.50 | $3.00 | $0.75 |
| California | $8.77 | $7.00 | $5.50 | $2.00 |
| Colorado | $7.25 | $6.75 | $4.25 | $1.75 |
| Connecticut | $8.50 | $6.50 | $4.00 | $1.50 |
| Delaware | $8.25 | $7.25 | $3.75 | $1.10 |
| Florida | $8.00 | $6.00 | $4.50 | $1.00 |
| Georgia | $8.75 | $6.75 | $3.25 | $0.90 |
| Hawaii | $9.50 | $7.50 | $5.00 | $1.75 |
| Idaho | $7.25 | $5.25 | $3.00 | $1.50 |
| Illinois | $7.00 | $5.00 | $3.50 | $1.00 |
| Indiana | $7.75 | $4.75 | $3.25 | $0.90 |
| Iowa | $7.75 | $5.75 | $4.25 | $0.90 |
| Kansas | $8.75 | $6.75 | $3.25 | $0.90 |
| Kentucky | $8.75 | $7.75 | $5.25 | $1.90 |
| Louisiana | $7.75 | $5.75 | $3.25 | $0.90 |
| Maine | $8.25 | $7.25 | $6.00 | $1.50 |
| Maryland | $7.25 | $5.25 | $3.75 | $1.10 |
| Massachusetts | $7.50 | $6.50 | $4.00 | $1.50 |
| Michigan | $8.75 | $6.75 | $5.25 | $1.00 |
| Minnesota | $7.50 | $5.50 | $3.50 | $0.75 |
| Mississippi | $7.75 | $4.75 | $3.25 | $1.00 |
| Missouri | $8.75 | $5.75 | $3.25 | $1.00 |
| Montana | $8.25 | $5.25 | $3.00 | $1.00 |
| Nebraska | $8.35 | $4.75 | $3.25 | $1.00 |
| Nevada | $7.50 | $4.50 | $3.00 | $0.75 |
| New Hampshire | $7.75 | $5.75 | $3.25 | $0.90 |
| New Jersey | $7.00 | $5.25 | $3.75 | $1.10 |
| New Mexico | $5.50 | $4.50 | $3.00 | $0.75 |
| New York | $6.50 | $5.50 | $4.00 | $1.50 |
| North Carolina | $5.75 | $4.75 | $3.25 | $0.90 |
| North Dakota | $9.00 | $4.25 | $3.00 | $0.65 |
| Ohio | $7.95 | $5.00 | $3.50 | $1.00 |
| Oklahoma | $8.21 | $4.75 | $3.25 | $0.90 |
| Oregon | $8.00 | $5.00 | $3.50 | $1.00 |
| Pennsylvania | $8.00 | $5.00 | $3.50 | $1.00 |
| Rhode Island | $7.50 | $5.50 | $4.00 | $1.50 |
| South Carolina | $6.25 | $4.75 | $3.25 | $0.90 |
| South Dakota | $5.25 | $4.25 | $3.00 | $0.65 |
| Tennessee | $5.75 | $4.75 | $3.25 | $0.90 |
| Texas | $7.25 | $4.75 | $3.25 | $0.90 |
| Utah | $7.25 | $4.50 | $3.00 | $0.75 |
| Vermont | $8.56 | $4.25 | $3.00 | $0.65 |
| Virginia | $7.65 | $4.75 | $3.25 | $0.90 |
| Washington | $7.59 | $5.25 | $3.75 | $1.10 |
| West Virginia | $7.75 | $4.75 | $3.25 | $0.90 |
| Wisconsin | $7.85 | $4.75 | $3.25 | $0.90 |
| Wyoming | $7.00 | $4.25 | $3.00 | $0.65 |
