New PACA licenses — Q3 2026 vs. prior quarter

New PACA licenses came in at 836 for the third quarter, down from 1,005 the quarter before — a 16.8 percent drop.

That drop undersells what’s actually moving underneath it.

California and Texas didn’t follow the national trend at all. New wholesaler licenses in California jumped 57.8 percent, 71 against 45 the prior quarter, and Texas wholesalers rose 56.8 percent, 58 against 37. California wholesale dealers added another 38.7 percent on top of that, and Illinois wholesaler licenses nearly tripled, though off a small base (10 against 3).

Florida went significantly in the other direction. New wholesaler licenses there fell 53.9 percent, 35 against 76. New York wholesaler licenses dropped 47.6 percent, and brokers in both Texas and Florida pulled back by roughly a third.

It’s worth checking this against Blue Book’s listing activity, since the two signals don’t always point the same way.

New Blue Book listings in California actually fell 38.9 percent this quarter even as PACA wholesaler licenses there climbed — new counterparties are registering with the government before they’re showing up as Blue Book members.

Texas listings slipped slightly too, despite the PACA surge. Florida and New York are the exception: both signals agree, down in licenses and down in listings, New York listings off 71.4 percent.

That split is the real story. A PACA license with no matching Blue Book listing yet is a counterparty nobody’s built a trading history on — not necessarily more risk, just less visibility.

California and Texas are accumulating that kind of unlisted new activity faster than anywhere else right now, while Florida and New York are simply seeing less new formation across the board.

Review listed pay performance and licensing activity together before prioritizing Q4 outreach — a state with rising PACA counts and flat or falling Blue Book listings is where the unknowns are concentrated.