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PODCAST:Executive Conference 2021: The Return To In-Person Events, Networking, And Market Analytics
This week on Market Digest our host Laura Zinger discusses the return to live events with our very own Nidha Jasrai and CEO Joe Muldowney. Topics include the "back to school" type feeling of going to an in-person event, the chance to golf with all-star athlete Bo Jackson after his keynote speaking session, and the overall superiority of networking in person.
Follow this link to register for the Executive Conference!https://www.urnerbarry.com/executive/
ANALYSIS: Weekly Chicken Production Stats Exhibit Uncommon YoY Decline
Reflecting back over the past year, chicken production has been anything but uniform...
Tyson Foods Categorically Rejects Conclusions Drawn by White House
Tyson Foods categorically rejects the conclusions drawn by the Secretary of Agriculture and the Director of the National Economic Council in a White House press briefing.
The U.S. Department of Agriculture recently published a report detailing the drivers of consumer inflation in the food sector, none of which are related to industry consolidation or scale. The report can be found here.
Increase in Beef Prices due to Unprecedented Market Conditions
As we have explained in great detail to the U.S. Senate Committee on the Judiciary, in testimony provided in August 2021, which can...
PODACST: UK Beef Chats Episode 31
This week market expert Mike Nesbitt discusses the UK cattle market edging higher and how it’s absorbing inflation, labor shortages due to COVID isolations and the furlough scheme.
ANALYSIS: Renewed Retail Demand Brings Stability to the Shell-Egg Market
It appeared at the start of the week that the US shell-egg market was poised for a potential turn to the downside as spot market offers began to...
ANALYSIS: The Ebb and Flow of YoY Chicken Production
So far, 2021 has been a long and drawn-out year for those in the chicken industry...
ANALYSIS: The Impact of Labor Issues on Hams
Ever since the first COVID-19 shutdowns, labor-related conversion issues have plagued the US ham market. As more and more bone-in hams couldn’t be...
PODCAST: UK Beef Chats Episode 29
This week on UK Beef Chats, market expert Mike Nesbitt discusses production issues hindering the beef supply chain, processing capacity still hit by uncertainty, updates on transportation issues and more.
ANALYSIS: July Pork in Cold Storage Breakdown
July’s USDA Cold Storage report, released on August 23rd, showed that while progress was made in restocking the freezers for a couple of categories of cuts, there are still...
ANALYSIS: Chicken Exports: It’s A Matter of Perspective
With June’s export figures hot off the press, players are turning to the charts as they reflect on the conclusion of Q2...
ANALYSIS: Jumbo Chicken Wings: A Countdown to the Coin Toss
With the first kickoff of college football season practically at our doorstep, the topic of chicken wings has begun to weave its way into market related conversations.
PODCAST: UK Beef Chats Episode 27
This week on UK Beef Chats we cover highs across the UK Beef Complex, tight supplies, labor issues and driver shortages.
ANALYSIS: Turkey Raw Materials Continuing to Ride Updraft
Following last year’s lack of seasonal underpinnings, marketers on the raw material side of the business are breathing a collective sigh of relief thanks in large part to what has, so far, amounted to be stout performance for whole muscle white meats and the related trim lines...
Study: U.S. Pork Needs More Access To Foreign-Born Workforce
Despite competitive wages and an expanding workforce, the U.S. pork industry continues to struggle with a labor shortage that will require access to more foreign-born workers to remain sustainable, according to a study by Iowa State University economists that was recently updated to reflect the current state of the labor market. The study underscores the urgent need for agriculture labor reform, a top priority for the National Pork Producers Council (NPPC).
The economists describe the current state of the agriculture labor market as follows:
“Conditions in the agricultural labor market have been challenging for decades. The agricultural industry in the U.S. has progressed from a fairly large labor-intensive sector where family members supplied...
ANALYSIS: Chicken Cold Storage: Break out the Broom
Chicken marketers are breaking out the figurative brooms as they search for any additional supplies left in the freezers...
Pilgrim’s Pride Reports Second Quarter 2021 Results with Growth in Sales
Pilgrim’s Pride Corporation reported its second quarter 2021 financial results.
Second Quarter Highlights
- Net Sales of $3.64 billion, up 29% from prior year.- Consolidated GAAP Operating Income margin of (3.4)% with GAAP Operating Income margins of (10.0)% in U.S., 17.5% in Mexico and 2.3% in Europe. Adjusted U.S. Operating Income margin of 7.8%.- GAAP Net Loss of $(166.7) million. Adjusted Net Income of $153.8 million or adjusted EPS of $0.63.- Adjusted EBITDA of $371.6 million, or...
PODCAST: UK Beef Chats Episode 26
This week on UK Beef Chats, market expert Mike Nesbitt discusses labor shortages, pandemic pressure on the supply chain, and elevated prices.
Consumer Confidence Relatively Unchanged in July
The Conference Board Consumer Confidence Index was relatively unchanged in July, following gains in each of the prior five months. The Index now stands at 129.1 (1985=100), up from 128.9 in June. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—rose from 159.6 to 160.3. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—was virtually unchanged at 108.4, compared to 108.5 last month.
Consumer confidence was flat in July but remains at its highest level since February 2020 (132.6),” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “Consumers’ appraisal of present-day conditions held steady, suggesting...
ANALYSIS: Frozen Turkeys Steal The Seasonal Show
It’s no secret that the majority of turkey lines are continuing to enjoy a strong showing here in early Q3. While recent market dialogue and trade activity has unquestionably gravitated towards...
ANALYSIS: Turkey Thigh Meat and Pork Ham Quotations Reaching an Inflection Point?
With Q3 in full swing, further processors, especially those who reside south of the border, are paying particularly close attention to the price relationship between boneless pork hams and turkey thigh meat...
ANALYSIS: Jumbo and Select Breast Meat Values Shake Traditional Price Relationship
Over the years, close attention has been paid to the price differential between jumbo boneless breasts and select...
NPPC Launches Campaign for Labor Reform
The National Pork Producers Council (NPPC) introduced a campaign, “Year-Round Pork Needs Year-Round Workers,” highlighting the vital role of foreign-born workers across the U.S. pork industry and the critical need for comprehensive labor reform to address a labor shortage.
“The U.S. pork industry is highly dependent on foreign-born workers who make tremendous contributions in their jobs and communities,” said NPPC President Jen Sorenson, communications director for Iowa Select Farms in West Des Moines, Iowa. “Unfortunately, current visa programs don’t provide access to...
ANALYSIS: Fresh and Frozen Turkey Drum Quotations at a Mid-Year Crossroads
As we round the corner to Q3, turkey marketers have a pep in their step and a glimmer in their eye thanks to the admirable trade environment that they’ve enjoyed throughout...
Consumer Confidence Improved Further in June
The Conference Board Consumer Confidence Index® improved further in June, following gains in each of the previous four months. The Index now stands at 127.3 (1985=100), up from 120.0 (an upward revision) in May. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—rose from 148.7 to 157.7. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—improved to 107.0, up from 100.9 last month.
“Consumer confidence increased in June and is currently at its highest level since the onset of the pandemic’s first surge in March 2020,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “Consumers’ assessment of current conditions...
Technomic's Take: Roadblock to Recovery for Restaurants
By all accounts, the restaurant industry is roaring back to life as vaccination distribution spreads, dine-in restrictions are lifted and improved weather throughout most of the country sends consumers flocking to restaurants to dine with friends and family. Operators are reporting same-store sales approaching, and in some cases exceeding, pre-pandemic levels as pent-up demand drives the dine-in surge and off-premise orders remain strong.
For restaurant operators eager to return to full capacity, however, significant headwinds remain as the restaurant industry struggles to fill jobs to meet this booming demand. The biggest challenge facing operators in this current recovery period is finding staff willing to work. There are numerous other factors that are impacting...
PODCAST: UK Beef Chats Episode 22
This week on UK Beef Chats market expert Mike Nesbitt discusses new highs across the UK beef complex, continued labor shortages, acute availability issues, how the Euros are impacting burger and steak items, summer BBQs, and more.
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.
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...
PODCAST: UK Beef Chats Episode 19
This week on UK Beef Chats Market Reporter Mike Nesbitt updates us on market performance, labor struggles as more businesses start to reopen, and a few logistical constraints for the supply chain.
ANALYSIS: April Chicken Cold Storage Holdings: A Continuation of a Familiar Trend
Several months ago, we assessed the near universal downturn in cold storage holdings exhibited by key lines within the chicken complex, and by the looks of the USDA’s most recent report...
ANALYSIS: Chicken Boneless Breasts and the Jumbo/Medium Spread
Since their inception to the Urner Barry price sheet back in late 2009, medium-sized boneless breast quotations have...
ANALYSIS: A Critical Eye on Chicken Slaughter
Despite predictable seasonal advancements in demand from all traditional channels, the chicken trade environment remains anything but “normal” in the eyes of most players...
ANALYSIS: Although February Pork Exports Declined; Strong Demand Lingers
According to the most recent USDA Pork Export Report, exports of U.S. pork remained generally strong in February, even as...
VIDEO: Morning Market Roundup April 13
Urner Barry's reporters discuss labor issues in the Pork and Turkey Markets, as well as prices in the Egg Market.
What’s Next in Labor and Employment Law for the Meat and Retail Industries
Labor and employment issues including healthcare and immigration have immediate effects on the meat and retail industries. In a virtual panel titled ‘What’s Next in Labor and Employment Law’ during the final day of the American Meat Conference, two speakers shared their expertise in labor law and policy.
Panelists John Linker, Partner, Labor and Employment, Akerman LLP; and Frederick Miner, Shareholder, Littler, explored the goals of the Biden Administration and the potential impacts on business.
Miner began the panel by talking about the current labor landscape. We are entering a significant period of change in the world of labor employment, in which President Biden has promised to be the strongest labor President in our nation’s history. Under the new Administration, the current National Labor Relations Board consists of...
ANALYSIS: 2021 – A Strong Start for Pork Trim
Most pork trimmings have noted a fully adequate to modestly firmer tone throughout the start of 2021 due to strong demand and...
Urner Barry’s Consulting Division to Launch Egg Market Forecasting Report
US Foods Fall Scoop Designed to Help Operators Appeal to Gen Z and Millennial Diners
Urner Barry's Fall 2021 Reporter Issue Released; Read It Online For Free Now
Urner Barry Releases September Soy & Wheat Report
The Executive Conference is Back and Better Than Ever This Year—and There's Still Time to Register!
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