What Does Prop 12 Mean for Egg, Veal, and Pork Producers in 2022?
Set to begin on January 1, 2022, there has been much pushback and controversy surrounding the State of California’s Proposition 12: The Farm Animal Confinement Initiative, which California residents first voted to pass in 2018.
Under the new rule, veal calf producers are required to provide their animals with at least 43 square feet of usable floor space per calf. Sows must have a minimum of 24 square feet of usable space per animal and laying hens are required to be cage-free. Prop 12 prohibits the sale in California of meat, poultry, and eggs not raised in compliance with these regulations. Many industry participants and producers have voiced concerns that Prop 12 could...
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RAVE Restaurant Group Names Clint Fendley CFO
RAVE Restaurant Group, the parent Company of Pizza Inn and Pie Five Pizza, announced the promotion of RAVE's Vice President of Finance, Clint Fendley, to chief financial officer, effective July 5, 2021.
Fendley was hired in January 2020 as RAVE Restaurant Group's Vice President of Finance. During this time, Fendley led the finance team and helped guide the Company during the pandemic, with a focus on cost control and cash management. Fendley also led RAVE Restaurant Group's successful efforts to regain compliance with...
Yum China Releases 2020 Sustainability Report
Yum China Holdings issued its 2020 Sustainability Report, which highlights the Company's commitment to sustainability and provides an overview of progress made in 2020 towards its sustainability goals.
In 2020, Yum China engaged internal and external stakeholders to complete a comprehensive materiality review. As a result, the Company resolved to focus efforts around three pillars: Environment, Food and People. Within these, Yum China identified 23 material issues in the value chain to work on as initial sustainability priorities. In the report, progress made in 2020 has been summarized in accordance with...
Walmart Invests in DroneUp, the Nationwide On-Demand Drone Delivery Provider
In Walmart's ongoing effort to get customers the items they want, and fast, the companys knows it will take a well-coordinated network of delivery solutions that span the streets, sidewalks and skies. Some of these solutions are still emerging, but they’re already showing encouraging results.
Last year, Walmart partnered with DroneUp, a nationwide drone services provider, to launch trial deliveries of at-home COVID-19 self-collection kits. The trial demonstrated we could offer customers delivery in minutes versus hours. Now, after safely completing hundreds of drone deliveries from Walmart stores, it is...
Pilgrim's Pride Acquires Kerry Consumer Foods’ Meats and Meals BusinessPilgrim’s Pride Corporation announced that it has executed an acquisition agreement to acquire the Meats and Meals business of Kerry Consumer Foods in the United Kingdom and Ireland. Following the Acquisition, Pilgrim’s will be a leading food company, with a significant value-added protein and integrated prepared foods business anchored by a portfolio of strong brands.
The acquisition, which was unanimously approved by Pilgrim’s Board of Directors, values the acquired businesses at a £680 million (or approximately $952 million based on a 1.40 USD/GBP exchange rate as of June 16, 2021) enterprise value. The purchase amount represents...
SpartanNash Announces More Perks, Greater Value for Online Grocery Shoppers
As part of its commitment to make online shopping for groceries accessible, affordable and convenient, Fortune 400 grocery retailer and distributor SpartanNash Company announced expanded benefits available exclusively for its Fast Lane subscribers.
Annual Fast Lane subscriptions are available for $49 per year and include free, unlimited curbside pickup at any SpartanNash store that offers Fast Lane online grocery shopping (a $4.95-per-order savings). Now, Fast Lane subscribers can save even more with...
Starbucks Announces Leadership Promotions
Starbucks Corporation announced several leadership appointments to advance the company's strategic business goals and position Starbucks on a clear growth path for the future. The company announced the promotions of John Culver as group president, North America and chief operating officer, Michael Conway to group president, International and Channel Development, and Michelle Burns to executive vice president, Global Coffee, Tea and Cocoa. These changes are effective as of June 28, 2021.
“As we plan for the 2022 fiscal year and beyond, Starbucks is fortunate to have a deep, talented and diverse team of senior executives we are able to tap to help lead us forward,” said Kevin Johnson, president and chief executive officer. “These appointments support our Growth at Scale agenda to bring about...
Eat Beyond Portfolio Company Plant Power Raises $7.5 Million
Eat Beyond Global Holdings Inc., an investment issuer focused on the global plant-based and alternative food sector, announced that its portfolio company, The Plant Power Restaurant Group, parent company of Plant Power Fast Food ("Plant Power"), recently secured a $7.5 million Series A financing round. California-based Plant Power is a quick service restaurant ("QSR") brand offering a comprehensive plant-based menu with meals that are served in biodegradable packaging.
This is thought to be the largest ever financing round for a plant-based fast-food franchise. The new capital will enable Plant Power to open seven more vegan restaurants in the United States including...
Livekindly Collective Appoints Malik Sadiq as Chief Operating Officer
Livekindly Collective, a collection of heritage and scale-up brands on track to become one of the world’s largest plant-based food companies, today announced the appointment of Malik Sadiq as Chief Operating Officer.
He joins Livekindly Collective from Tyson Foods, the world's second largest processor and marketer of chicken, beef and pork, where he held several leadership roles since 2006. His tenure spanned across international operations, corporate strategy and business development and included the Chief Operating Officer role for China and the Chief Executive Officer role for India. Sadiq most recently served as Senior Vice President, Global Sourcing and Business Optimization, driving the growth strategy for the international business. At Livekindly Collective, he will oversee...
Popeyes Launches Its First Ever Loyalty Program, Popeyes Rewards
Popeyes has unveiled its first-ever loyalty program. To celebrate the Popeyes Rewards launch, the brand is introducing a special “Welcome To The Popeyes Fam” Meal available exclusively for loyalty members on the Popeyes App or online only, featuring 8 pieces of Popeyes signature bone-in chicken, 1 large side & 4 biscuits. Each Popeyes Rewards member who purchases the exclusive meal June 17th to July 1st will receive 500 bonus points to use towards future Popeyes orders.
Popeyes Rewards is designed so that members can earn with each transaction. Those who join the program will unlock things like...
Inspire Brands Names Kate Jaspon Chief Financial Officer
Inspire Brands announced changes within the Chief Financial Officer role. Kate Jaspon has been named Chief Financial Officer of Inspire following the announced retirement of David Pipes. Jaspon was previously CFO of recently acquired Dunkin’ Brands where she spent more than 15 years in Finance and Treasury roles.
Jaspon will transition into her new role this month and will oversee all accounting and reporting, tax, financial planning and analysis, internal audit, as well as manage Inspire’s relationships with lending institutions, investors, and the financial community.
“Working with Kate while Dunkin’ and Baskin-Robbins were joining the Inspire family, it became clear that she was...
Restaurant Brands International Announces Election of Directors
Restaurant Brands International announced the results of the vote on the election of directors at its Annual Meeting of Shareholders held on June 16, 2021.
The total number of eligible votes represented in person or by proxy at the meeting was 403,132,197 representing 87% of all eligible votes.
RBI's proxy circular provided for twelve nominees to the Board of Directors. The twelve individuals nominated by the Board of Directors for election as directors of RBI were elected, each to hold office until...
PODCAST: Seeing Green: High Imported Beef Prices, Cyber Attacks, and More
This week on Market Digest, Host Laura Zinger and CEO Joe Muldowney talk high prices for imported beef, Australia emerging from their drought, China searching for product, cyber attacks, supply chain issues, return to live events, and much more.
Kroger Delivers Strong First Quarter Results
The Kroger Co. reported its first quarter 2021 results and will update investors on how Leading with Fresh and Accelerating with Digital initiatives are positioning Kroger for long-term sustainable growth.
Comments from Chairman and CEO Rodney McMullen
"Kroger is even better positioned to connect with our customers than we were prior to the pandemic as a result of our relentless focus on leading with fresh and accelerating with digital. I am incredibly proud of our amazing associates who continue to be there for our customers, communities, and each other when they need us most and who strive to...
VIDEO: Morning Market Roundup June 15
Urner Barry's reporters discuss the markets for Father's Day with updates on beef, chicken, and eggs.
NAMI and NPPC Urge the USDA and Congress to Address Port Challenges
With delays and congestion at U.S. ports hurting U.S. agriculture exports like meat and poultry products, the North American Meat Institute (NAMI) and the National Pork Producers Council (NPPC) are urging U.S. Secretary of Agriculture Tom Vilsack and Congress to confront the crisis.
The issue at hand is the continued behavior of ocean carriers to decline to carry U.S. agriculture commodity exports and instead return empty containers to Asian markets to fill them with more lucrative consumer goods to export back to the United States. Also, NAMI claims that ocean carriers and marine terminal operators are...
Urner Barry Releases June Soy & Wheat Protein Report
Average all-wheat prices increased $0.18/bu from March while average soybean prices increased as well by $0.70/bu. June frontmonth futures decreased from May’s rates. CBOT wheat front month futures reached $6.83/bu in June, a slight decrease of $0.27from May. Also, CBOT soybeans totaled $15.47/bu in June, representing a decline of $0.25/bu from the month prior...
Albertsons Companies Names Jennifer Saenz EVP, Chief Merchandising Officer
Albertsons Companies announced that Jennifer Saenz will join the Company as EVP, Chief Merchandising Officer effective July 12th, 2021. Saenz will be responsible for all areas of merchandising within the Company, including Own Brands. Saenz will also be responsible for further strengthening the Company’s relationships with its brand partners. She will join the Company’s senior leadership team and report to Vivek Sankaran, President and Chief Executive Officer.
“We’re excited to welcome Jennifer to the Albertsons team,” said Sankaran. “A commitment to serving our customers with a broad and differentiated assortment of products is a key aspect of our transformation strategy. Jennifer’s extensive global industry experience and proven track record of driving growth through...
USDA Announces Additional Aid to Ag Producers and Businesses in Pandemic Assistance
Agriculture Secretary Tom Vilsack announced additional aid to agricultural producers and businesses as part of the USDA Pandemic Assistance for Producers initiative. Earlier this year, Secretary Vilsack announced plans to use available pandemic assistance funds to address a number of gaps and disparities in previous rounds of aid. As part of the Pandemic Assistance initiative announced in March, USDA pledged to continue Coronavirus Food Assistance Program (CFAP) payments and to provide aid to producers and businesses left behind. Implementation of the assistance announced today will continue within 60 days to include support to timber harvesters, biofuels, dairy farmers and processors, livestock farmers and contract growers of poultry, assistance for organic cost share, and grants for PPE.
“USDA is honoring its commitment to get financial assistance to producers and critical agricultural businesses, especially those left out or underserved by previous COVID aid,” said Secretary Vilsack. “These investments through USDA Pandemic Assistance will help...
May Retail Sales Reach Near-Record Level Despite Monthly Decline
Retail sales remained at elevated levels in May despite month-to-month fluctuations that masked near-record performance, the National Retail Federation said.
“While May retail sales were down slightly, largely due to supply chain constraints, the more accurate indicator remains in the year-over-year data which, as the NRF calculates, showed growth of over 17 percent,” NRF President and CEO Matthew Shay said. “For the first five months of this year, retail sales are already tracking 17.6 percent above the same five months of 2020, giving us further confidence in our newly revised sales forecast of growth between 10.5 percent and 13.5 percent to more than $4.44 trillion for 2021. While there are downside risks related to...
Starbucks Announces Leadership Promotions
Starbucks Corporation announced several leadership appointments to advance the company’s strategic business goals and position Starbucks on a clear growth path for the future. The company announced the promotions of John Culver as group president, North America and chief operating officer, Michael Conway to group president, International and Channel Development, and Michelle Burns to executive vice president, Global Coffee, Tea and Cocoa. These changes are effective as of June 28, 2021.
“As we plan for the 2022 fiscal year and beyond, Starbucks is fortunate to have a deep, talented and diverse team of senior executives we are able to tap to help lead us forward,” said Kevin Johnson, president and chief executive officer. “These appointments support...
NCBA Takes Action to Increase Producer Profitability Through USDA-Verified Labels
The the National Cattlemen’s Beef Association (NCBA) filed a petition with the U.S. Department of Agriculture’s Food Safety and Inspection Service (USDA-FSIS) to eliminate the use of “Product of the USA” (POTUSA) and other broad U.S. origin labeling claims for beef products that are potentially misleading to consumers.
NCBA believes that current “Product of the USA” labels are a disservice to American consumers and cattle producers alike. The claim implies that a beef product is entirely of U.S. origin. However, in reality, imported beef products are eligible to be labeled “Product of the USA” as long as the product has been...
Alpha Foods Announces First Chief Marketing Officer Kierstin De West
Alpha Foods (Alpha), a leader in the growing plant-based protein category, announces the hiring of its first Chief Marketing Officer, Kierstin De West. Bringing unmatched experience from her past role as VP of Global Brand Management at lululemon, De West will lead Alpha through upcoming stages of rapid scale and overall expansion. In the past three years, Alpha has burst onto the scene, recording 100 percent year-over-year growth. By the end of 2021, Alpha will be available in over 10,000 retail locations.
"What drew me to Alpha was the company's mission to build a better world, which is the same north star that has guided my career for the past twenty years," said Kierstin De West, Chief Marketing Officer at Alpha. "I've always been clear in my aspiration to align with...
Freshly Introduces Multi-Serve Proteins and Sides for Mealtime Shortcuts
Freshly Inc., a leading fresh-prepared meal delivery service in the U.S., announced the launch of Proteins & Sides, new menu items offering customers multi-serve portions of eight signature Freshly fan favorites. The chef-cooked, ready-to-heat proteins and side dishes are designed to mix and match for meal customization and use for cooking shortcuts. Perfect to share or provide for multiple meals for one, the new offering gives consumers a time-saving solution to simplify meal prep and supplement Freshly weekly meal plans.
Developed in response to evolving consumer habits coupled with customer feedback on the desire for more options and flexibility when it comes to mealtime, the addition of Proteins & Sides to the menu reinforces...
NRF Calls on White House to Address Port Congestion Challenges
The National Retail Federation delivered a letter to the White House asking to meet with President Biden and other top administration officials regarding the challenges retailers are facing from continued supply chain disruptions that are leading to congestion at U.S. ports.
The letter from NRF President and CEO Matthew Shay states, “The supply chain disruption issues, especially the congestion affecting our key maritime ports, are causing significant challenges for America’s retailers. The congestion issues have not only added days and weeks to our supply chains but have led to inventory shortages impacting...
Nearly Half of Canadians Plan to Dine On-Premises Now that Pandemic Restrictions are Relaxed
Canadians were anxiously awaiting COVID lockdowns and restrictions to be eased and lifted, and so were restaurant operators. It’s been a long 15 months and 46% of Canadians told The NPD Group that they plan to physically eat at a restaurant, bar, or coffee shop now that COVID-19 restrictions have been eased. Restaurant operators are eager to greet them back and pick-up their dine-in business, which was most impacted by mandated pandemic restrictions.
Dine-in or on-premises restaurant orders/visits have improved since the beginning of the pandemic but, as a basis for comparison, were still down -85% in April 2021 compared to April 2019. Off-premises orders and visits, which include...
PODCAST: UK Beef Chats Episode 20
This week Mike Nesbitt details labor struggles hindering market performance, how it's affecting the supply chain, where the furlough scheme comes into play, and more. Urner Barry beef market reporters Gary Morrison and Bill Smith weigh in on the US side of the market.
NCBA and PLC Ready to Defend Progress on Clean Water Act
The National Cattlemen's Beef Association (NCBA) and Public Lands Council (PLC) issued the following statement in response to Environmental Protection Agency (EPA) Administrator Michael Regan's announcement that the agency intends to revise the Navigable Waters Protection Rule (NWPR).
"Livestock producers, who manage both their private lands and safeguard public lands, have a deep-seated commitment to protecting and improving our waterways — which is why it is so deeply frustrating when EPA opts for government overreach instead of effective, proven public-private partnerships. The NWPR was...
Wholestone Farms to Build Pork Processing Facility in South Dakota
Wholestone Farms, a farmer-owned pork processor, has secured property in Sioux Falls, South Dakota, located near the intersection of I-229 and Benson Road within an appropriately zoned industrial park. Wholestone Farms plans to develop the purchased land into a new, state-of-the-art pork harvest and processing facility. The project value is estimated at over $500 million and will initially employ over 1,100 people.
"Wholestone Farms and its farmer-owners have a strong culture of corporate citizenship and with many of our members currently living and doing business in the area, we look forward to...
Bojangles Expands in Texas
Bojangles is opening up shop in two major cities in the Lone Star State. The chain has signed franchise agreements with Sajib Singha and Asish Baidya of SAT Restaurant Group, LLC and Khalid Siddiqui of LASH Foods, LLC each to open three in the Dallas-Fort Worth and Houston markets, respectively.
Bojangles will also simultaneously open 15 corporately owned restaurants in the Dallas-Fort Worth market.
“Get ready, Texans, because our delicious chicken and biscuits are headed your way, and we can’t wait to serve you up some real deal, Southern flavor like only Bojangles does,” said Jose Costa, Bojangles’ Chief Growth Officer. “We’re proud to be working alongside...
US Foods Summer Scoop Lineup Takes Aim at Restaurant Labor Shortage
US Foods Holding Corp. announced the launch of Summer Scoop™. Themed “Dining Out Is In Again,” Summer Scoop features 18 on-trend, versatile, profit-driving products designed to reduce back-of-house preparation and skilled-labor demands. With 62% of operators saying they are concerned about finding skilled workers during the pandemic, restaurant operators struggle to balance the resurgence of on-site diners and existing take-out and delivery operations ramped up during the pandemic. Summer Scoop helps address these challenges with innovative products that can drive higher profits and help operators save approximately 85-95% in back-of-house preparation time compared to making from scratch, helpful for restaurants operating with fewer and less experienced kitchen staff.
“Through each phase of the pandemic, our commitment to helping our restaurant operators ‘Make It’ with product innovation and expert resources has remained our number one priority,” said Stacey Kinkaid, vice president of product development and innovation for US Foods. “As restaurants quickly move closer to...
Denny's Introduces New Menu Items for Summer
As Americans begin to return to dining rooms, Denny's has a new set of options for those looking for a taste of summer, including the introduction of a monthly Spotlight Stack, a highlighted pancake dish from Denny's collection of fresh buttermilk pancake stacks.
First up on the menu just in time for Flag Day and July Fourth: The Red, White and Blue Pancake Breakfast kicks off summer with festive colors and flavors for dine in, delivery or take out. The new creation features a stack of pancakes crafted with fresh buttermilk and blueberries and topped with freshly sliced strawberries, a drizzle of cream cheese icing and a dollop of sweet, whipped cream, served up with...
Cargill Joins U.S. CattleTrace Program with Aim to Develop Infrastructure for Disease Traceability
Cargill announced that it has joined U.S. CattleTrace as an official packer member. Cargill is the second beef processor to invest in the effort formed by multiple state cattlemen’s organizations to develop a national infrastructure for animal disease traceability in the U.S. cattle industry.
“Reducing the impact of disease is critical for the U.S. Beef herd which is why we’re excited to join the U.S. CattleTrace program and champion its efforts to improve global competitiveness and food safety across the value chain,” said Jarrod Gillig, business operations and supply chain lead for Cargill’s North American protein business. “At Cargill, we’ve long been focused on enhancing the traceability and resilience of our supply chains and...
Kraft Heinz Announces Agreement to Purchase Assan Foods
The Kraft Heinz Company announced that it has reached an agreement to purchase Assan Foods from privately held Turkish conglomerate Kibar Holding in a deal that values the enterprise at approximately $100 million. Assan Foods is a rapidly growing sauces-focused business with local manufacturing facilities in Balikesir and Izmir that has been a certified production partner for Kraft Heinz since 2019 and offers Kraft Heinz the opportunity to build its retail and foodservice business across Europe, the Middle East and Africa.
“This is a great opportunity to accelerate our international growth strategy centered on Taste Elevation,” said Rafael Oliveira, International Zone President at Kraft Heinz. “We believe Assan Foods is a high-performance organization that brings best-in-class local innovation and...
USDA to Begin Work to Strengthen Enforcement of the Packers and Stockyards Act
The U.S. Department of Agriculture (USDA) will begin work on three proposed rules to support enforcement of the Packers and Stockyards (P&S) Act, the 100-year old law that was originally designed to protect poultry and hog farmers and cattle ranchers from unfair, deceptive, and anti-competitive practices in the meat markets. USDA’s pending action was noted in the Unified Agenda of Regulatory and Deregulatory Actions released by the White House Office of Management and Budget (OMB).
USDA intends to take three actions related to rulemaking in the months ahead. First, USDA intends to propose a new rule that will provide greater clarity to strengthen enforcement of unfair and deceptive practices, undue preferences, and unjust prejudices. Second, USDA will propose a new...
Wegmans Broadens Their Clean-Label Category with Handcrafted Meats from North Country Smokehouse
U.S. based grocery retailer, Wegmans, known for their clean-label product offerings, have broadened their USDA Organic and Certified Humane® meat category with the addition of two, new artisanal meat offerings handcrafted by New Hampshire based producer, North Country Smokehouse.
Wegmans shoppers now have access to unique products like Organic Sugar-Free Applewood Smoked Bacon and Organic Bratwurst sausage, available in 55 stores from New York through North Carolina.
Wegmans mission states "Everyday You Get Our Best", a philosophy evidenced by the care they take in consumer preferences. Their shelves are stocked with better-for-you food options to suit various lifestyles and one need not look far to find products labeled...
The Road to Recovery for U.S. Restaurant Chain Customer Transactions Varies by Market
Geography matters when it comes to pandemic recovery for U.S. restaurant chains. A mix of factors, like pandemic-related restaurant restrictions, the closing or opening of units, or chain performance, even the weather or event, can impact restaurant chain customer transactions in a specific market area, reports The NPD Group.
For example, restaurant chain customer transaction declines in the Dallas-Fort Worth (DFW) designated market area improved from double-digit declines last year to -4% in May 2021 compared to May 2019, a pre-pandemic basis of comparison. DFW ranks in the top 10 markets to recover from the steep customer transaction declines caused by the pandemic last year. In addition to Texas lifting COVID restaurant restrictions in March, the market's May customer transactions reflect...
OmniFoods Launches Plant-based Seafood Line After Alternative Pork Success
OmniFoods celebrated World Oceans Day on June 8 by releasing its OmniSeafood line, a range of plant-based seafood options featuring the Omni Classic Fillet, Omni Golden Fillet and Omni Ocean Burger, OmniTuna and the expected launch of OmniSalmon.
The company’s plant-based seafood options come after a successful launch of its OmniPork line. However, the company noted that due to the various textures, tastes and applications of seafood, its new line of products “presents a brand-new experience of high-quality plant-based fish with high culinary versatility...
Strong Momentum Continues for U.S. Beef and Pork Exports
Following a record-breaking March performance, exports of U.S. beef and pork continued to build momentum in April, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
April exports of U.S. beef set another new value record at $808.3 million, up 35% from a year ago, with export volume reaching 121,050 metric tons (mt) – up 23% year-over-year and the fifth largest on record. For beef muscle cuts, exports were the third largest ever at 94,656 mt (up 21%), valued at a record $726.7 million (up 36%). For January through April, beef exports moved 5% ahead of last year’s pace at 454,398 mt, with value up...