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Pork Checkoff: Mixed Signals in the Market as Some Items Struggle, Others Trade Firm
The cure for high prices is high prices — lack of features and ample inventory cause prices to adjust and create future opportunities.
Highlights• Following the record-breaking levels of a year ago, backribs are now at the lowest levels of the past five years. Prices may need to stay low for a bit longer to “buy” some demand from retail and foodservice. For operators, current prices present excellent feature opportunities.
• Pork prices were firm at the end of the week on seasonally lower slaughter as well...
This Week in Retail: A Look at Easter Features; CPI Data Released
This week in retail, the discussion is heavily centered on the economy, rising inflation with the latest CPI growth, and the bird flu outbreak in the U.S. Meanwhile, Easter week has arrived and grocers are looking to capture additional spending on the holiday.
USDA estimates that nearly 24 million poultry birds have died from high-path avian influenza since the virus strain was identified in February. The virus has since spread in wild birds to 32 states.
Another outbreak was confirmed Tuesday afternoon in a flock of roughly 2 million commercial layers in Nebraska, lifting the total number of commercial laying hens affected by HPAI to about 20 million head.
Urner Barry's Midwest large benchmark quotation is currently at $2.84/dozen, down from $3.01/dozen the week prior but a staggering 176% above a year ago. At retail, large eggs on feature for the holiday week are highlighted at nearly $3/dozen while X-large averages $2.86/dozen...
This Week in Retail: Bird Flu and The Easter Outlook
Easter promotions are in full motion and households are gathering staples including eggs, ham, and lamb for the upcoming holiday.
According to a survey by the National Retail Federation, consumers plan to spend an average of $169.79 this year on Easter-related items, with food accounting for the largest spending category. The collective spending on the holiday is forecast at $20.8 billion, down slightly from $21.6 billion last year.
With HPAI spreading throughout the country, consumers are beginning to see higher prices for shell eggs. Roughly 13 million layers have been impacted by the current outbreak—the country’s worst since 2014-2015—while over two million commercial turkeys have fallen prey to the virus...
The Best Ham to Order for Your Holiday Dinner
Easter is coming (and before you know it Thanksgiving and Christmas). Find out what the best ham options are to serve up on your table, according to a blind taste test.
Best Thick Cut Ham
Hormel® Cure 81® Bone-In Half HamMany spiral-cut hams have super thin slices that are great for piling high on sandwiches. For a holiday entrée, though, you may want a more substantial slice like with a Hormel® Cure 81® Bone-In Ham.
According to Catherine Ward...
This Week in Retail: Showcasing Brisket Features for St. Patrick’s Day
Today is St. Patrick’s Day and grocers are lining their shelves with Irish staples including corned beef brisket, Irish soda bread, and beer.
The National Retail Federation reports that over half of Americans plan to celebrate St. Patrick's Day this year, providing a boost for retail sales as consumers stock up on green apparel, food, and beverages. The NRF's survey found that 34% of celebrants will make a special dinner while 19% plan on attending a party at a bar or restaurant.
Roast feature activity accounts for 45% of all beef ads this week. Of that, briskets claim 42% of total roast features. Features for corned beef brisket this week range from $4.28 per pound to $5.93 per pound, depending on the store and region. Brisket feature prices currently average $4.49 per pound, up 22% from a year ago...
This Week in Retail: Seafood Features Are Ablaze Amid the Holidays
With Christmas at our doorstep, some households are stocking up on last-minute gifts, along with food for those hosting holiday meals.
Just ahead of the holiday, seafood climbed to the top spot among protein ads this week with 29.5 percent. Beef comes in second with 25.9 percent of total protein ad volume, followed by pork with 21.6 percent. Chicken makes up 4.7 percent, compared to 5.7 percent the previous week. Turkey features increased to 16.8 percent, up from 12.2 percent last week...
This Week in Retail: Inflation Climbs to 39-Year High in Latest CPI Data
The Bureau of Labor Statistics (BLS) released the latest Consumer Price Index (CPI) for November, showing the all items index up 6.8 percent over the past 12 months. This was the fastest 12-month increase since June 1982.
The food index increased 0.7 percent last month after rising 0.9 percent in both September and October. The index for food away from home rose 0.6 percent in November after gaining 0.8 percent in October, according to the BLS. Over the last year, the food away from home index has risen 5.8 percent. This was the largest yearly increase dating back to January 1982...
This Week in Retail: Where’s the Turkey?
The countdown to Thanksgiving is winding down with only one week to go! More families are planning holiday gatherings this year following the pared-down festivities in 2020 due to the pandemic.
Typically, Thanksgiving is one of the biggest food holidays of the year. For some shoppers, the star of the show—turkey—has been harder to find because of supply chain interruptions that are affecting the production, further processing, and transportation of America’s beloved Thanksgiving centerpiece.
The American Farm Bureau Federation recently released its annual survey of Thanksgiving dinner costs, showing the price for a 16-pound turkey this year at $23.99. That figure is up about $1.50 per pound or 24% from last year. According to AFBF, a Thanksgiving feast for ten is $53.31 or less than $6.00 per person, up 14% from last year’s average of $46.90...
The Honey Baked Ham Company® Has You Covered this Thanksgiving (and Friendsgiving)
Calling all out-of-practice hosts, The Honey Baked Ham Company® has you covered for all your holiday gatherings with simple ways to serve, gift and shop during the festive season. From delicious holiday meals with convenient ordering options to unique host gifts, HoneyBaked® is dedicated to helping everyone spend less time in the kitchen and more time reuniting with their loved ones this Friendsgiving and Thanksgiving.
HoneyBaked's holiday meals, complete with a brand-new brunch option, are fully-cooked and undeniably delicious. They include...
This Week in Retail: Consumers Get a Head Start on Their Holiday Shopping
The final days of October are upon us and grocery circulars will soon be inundated with holiday promotions.
Retailers will increasingly advertise Thanksgiving staples and several outlets are offering shoppers free turkeys or other holiday favorites after spending a minimum amount. BOGO promotions are also popular at this time of year as grocers make room for fresh and frozen turkeys, hams, and beyond.
This week in retail, however, deep discounts at the meat case are hard to come by. Interruptions in the supply chain continue to influence price points for nearly all commodities while altering consumer shopping behavior.
Shoppers are expected to begin their holiday shopping earlier than usual this year. Some consumers are concerned that they may not be able to buy everything on their list due to the global gridlock at ports and production slowdowns...
ANALYSIS: Shell Egg Prices Crack New Record Highs Amid Strong Demand, Depleted Inventories
This Week in Retail: Seasonal Trends Start to Shift
Urner Barry Releases September Soy & Wheat Report
Urner Barry Releases September Pulse Protein Report
Urner Barry Releases August Emerging Plant Protein Report