May 26, 2017
Today's news opens reporting that as part
of its strategy to grow from $10 billion in annual sales today to $15
billion in annual sales across its global business by 2022, Taco Bell
announced at its 2017 investor and analyst day its plans to add
restaurants domestically, and revealed four key international markets
that it will focus on as it continues to grow as a global brand.
On other news, our weekly retail column takes a look at how for
Day weekend, beef features make up 27% of total protein ad volume, while
seafood claims 23%. Chicken features account for 22% of the mix,
while pork comes in with 18%. In the beef complex, steaks have 48% of
feature volume, while ground beef ads hold 32%. The steak complex
averages $7.29 per lb., down 38 cents per lb. from a year ago.
Porterhouse, bone-in strip, and top sirloin steaks are all featured
below year ago levels, while bone-in rib and boneless shell steaks are
priced higher. Ground beef prices are up slightly over a year ago this
week, at $3.71 per lb. for 80% lean. Memorial Day is a notorious burger
holiday at retail as an easy, cost-effective way to feed large
gatherings from the grill.
American organic sector stayed on its upward trajectory in 2016, gaining
new market share and shattering records, as consumers across the United
States ate and used more organic products than ever before,
according to the Organic Trade Association’s (OTA’s) 2017 Organic
Industry Survey released Wednesday at OTA’s Annual Policy Conference.
Smithfield Foods announced that it is investing more than $45 million to
expand its blast cell cold storage capabilities at its processing
facility in Tar Heel, N.C. The investment will create approximately
30 new jobs at the Tar Heel facility as well as new employment positions
within Smithfield’s logistics partner.
Export Federation (USMEF) opened its Spring Conference Wednesday in
Arlington, Virginia, with an extensive discussion of the current
international trade environment and a review of year-to-date export
results for U.S. pork, beef and lamb. The federation also announced the
successor to longtime USMEF President and CEO Philip Seng, as Dan
Halstrom, USMEF senior vice president for marketing, will become
president on Sept.1 and assume the title of president and CEO on Dec. 1.
Seng will remain with the organization as CEO emeritus through July
restaurant industry is facing its most challenging environment since the
Great Recession. Technomic's recently released restaurant forecast
suggest that despite expected growth above 3% for 2017 and 2018, growth
will come from menu price increases and positive menu mix shifts rather
than all-important traffic gains. The bottom line is that fewer
consumers are visiting restaurants less often than they were a few years
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