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Cal-Maine Foods Reports Fourth Quarter Fiscal 2021 Results
Cal-Maine Foods, Inc. (NASDAQ: CALM) today reported results for the fourth quarter (thirteen weeks) and fiscal year ended May 29, 2021.
Net sales for the fourth quarter of fiscal 2021 were $349.8 million, compared to $453.3 million for the fourth quarter of fiscal 2020. The Company reported a net loss of $4.2 million, or $0.09 per basic and diluted share, for the fourth quarter of fiscal 2021, compared to net income of $60.5 million, or $1.25 per basic and...
Market Trends to Watch Ahead of Independence Day
Urner Barry is the leading provider of protein market news and information in the food industry. Through daily canvasses of the trade and an unrivaled historical database, our analysts are uniquely positioned to report on the underlying conditions and significant disruptors to the market. In this Market Briefing, Urner Barry reporters outline the latest action in the commodity protein markets, highlighting seasonal factors, disruptors, and current supply and demand fundamentals.
Access the latest UB Market Briefing HERE.
ANALYSIS: Cage-Free Inventories Mount as Proposition 12 Deadline Draws Closer
While cage-free inventories have been steadily climbing over the past several years as producers prepare for the forthcoming deadlines, USDA data shows they’ve begun to increase at a faster pace in recent weeks, surging...
Cal-Maine Foods Completes Acquisition of Interest in Red River Valley Egg Farm
Cal-Maine Foods announced that the Company has closed the previously announced purchase of the remaining 50 percent joint venture membership interest in Red River Valley Egg Farm, LLC from Rose Acre Farms, Inc, effective May 30, 2021. The entity is now a wholly owned subsidiary of the Company. Red River Valley Egg Farm, LLC owns and operates a specialty shell egg production complex with approximately 1.7 million cage-free laying hens, cage-free pullet capacity, feed mill, processing plant, related offices and outbuildings and...
Summer is Almost Here and UB Has the Scoop on Market Trends Heading into MDW
Access the latest UB Market Briefing HERE...
Cal-Maine Foods Acquires Remaining Interest in Red River Valley Egg Farm
Cal-Maine Foods announced that the Company has reached a definitive agreement to purchase the remaining 50 percent membership interest in Red River Valley Egg Farm, LLC from Rose Acre Farms, Inc. The entity will become a wholly owned subsidiary of the Company. The purchase price is $48.5 million for the balance of the joint venture’s membership interests.
Red River Valley Egg Farm, LLC owns and operates a specialty shell egg production complex with approximately 1.7 million laying hens, pullet capacity, feed mill, processing plant, related offices and...
VIDEO: State of the Market Episode 16: The Egg Market
This week on State of the Market, Market Digest host Laura Zinger and Brian Moscogiuri detail the hurdles of the egg market. Brian tells us about the second largest shell egg inventory ever recorded in COMTELL, what rising inventory levels mean for pricing, and more.
ANALYSIS: Egg Prices Sink to Under a Dollar as Inventories Climb to a Near-Record High
For the first time since mid-January, shell egg prices have once again dropped below the dollar mark amid disappointing retail sales and mounting...
ANALYSIS: Easter Demand for Shell Eggs Not All It Was Cracked Up to Be
Since the start of last week, shell-egg prices have plunged 19% thanks to lackluster Easter demand and, in turn, mounting inventories...
Cal-Maine Foods Reports Third Quarter Fiscal 2021 Results
Cal-Maine Foods, Inc. reported results for the third quarter of fiscal 2021 (thirteen weeks) and thirty-nine-week period ended February 27, 2021.
Net sales for the third quarter of fiscal 2021 were $359.1 million, a 3.9 percent increase compared to $345.6 million for the third quarter of fiscal 2020. The Company reported net income of $13.5 million, or $0.28 per basic and diluted share, for the third quarter of fiscal 2021, compared to net income of $13.7 million, or $0.28 per basic and diluted share, for the third quarter of fiscal 2020.
For the thirty-nine weeks ended February 27, 2021, net sales were $999.2 million, an 11.2 percent increase compared with $898.3 million for the prior-year period. The Company reported net income of...
ANALYSIS: Brown Shell-Egg Prices Decline for First Time Since Mid-July, as Demand Wanes
For the first time in seven months, brown shell-egg prices have come under pressure amid easing demand levels and mounting inventories. Northeast brown large plunged 6cts yesterday and another nickel today, as sellers – struggling to find an outlet for their surplus – have been forced to offload at a discount. At $2.23/dozen, values are down 4.7% on the week but still 47.0% higher than at this time last year...
PODCAST: Rolling with the Punches - Cage-Free Expansions and More Impacting the Egg Market
Egg market guru Brian Moscogiuri fills us in this week on 52-week highs in the egg product market thanks to foodservice recovery, Avian Influenza in Asia affecting the export market, and the cage-free movement’s impact on the shell egg and egg product markets. Hosted by Laura Zinger, the latest episode of Urner Barry’s Market Digest fills us in on the egg market in 2021.
Did you know? Urner Barry's Market Digest Podcast is now available on Spotify, iTunes, Apple Podcast, iHeartRadio, and SoundCloud! More ways to listen to top industry news and analysis.
ANALYSIS: Egg Prices Surge to 11-Month High on Strong Retail, Foodservice, Export Demand
A combination of retail, foodservice and export demand sent shell-egg prices soaring to an 11-month high this week. After holding steady for more than...
ANALYSIS: Shell Egg Prices Drop 10.5% WoW as Retail Demand Eases, Inventory Grows
U.S. shell egg prices fell 10.5% this week, thanks to easing retail demand and mounting inventory levels. While sources have been reporting fair to fairly good retail sales, they have...
ANALYSIS: Shell Egg Prices Surge to Nine-Month High Amid Demand Increases, Flock Rotations
Shell egg prices have climbed to the highest levels seen since mid-April, thanks to extraordinarily robust retail demand, strong international call and...
Highly Pathogenic Avian Influenza Strikes South Korea’s Layer Houses
As Highly Pathogenic Avian Influenza (HPAI) strikes South Korea’s layer houses killing more than 8 million hens, the country’s local shell egg prices have started to soar with a 22.4 percent increase compared with an average year as of Wednesday. Demand is especially high for eggs with the approaching Lunar New Year holiday February 11 - 14. As a result, the Korean government has decided to temporarily eliminate tariffs on egg imports for the first time since 2017.
According to The Korea Herald, South Korea's agricultural ministry said Wednesday it plans to “temporarily remove tariffs on imported egg products to resolve a supply shortage.” The government will...
The Latest Market Briefing is Here!
Breakdown the poultry, egg, red meat and seafood markets with exclusive analysis from UB Market Reporters
Urner Barry is the leading provider of protein market news and information in the food industry. Through daily canvasses of the trade and an unrivaled historical database, our analysts are uniquely positioned to report on the underlying conditions and significant disruptors to the market. In this Market Briefing, Urner Barry reporters outline the latest action in the commodity protein markets, highlighting seasonal factors, disruptors, and current supply and demand fundamentals...
ANALYSIS: Shell Egg Prices Rise Amid Strong Retail Demand, Seasonal Flock Rotations
After holding steady for more than two weeks, shell egg prices got a push to the upside today amid strong retail demand and...
International Dairy Queen On Track to Meet Cage-Free Egg Commitment in 2025
International Dairy Queen Corporation (IDQ) announced it is on track to meet its cage-free egg commitment in the U.S. and Canada for shell eggs, liquid eggs and DQ® proprietary products by 2025.
“In 2016, we made a commitment to animal welfare when we announced our transition to cagefree eggs in the U.S. and Canada by 2025,” said Steve Min, Executive Vice President of Research and Development at International Dairy Queen. “As we continue to make progress toward our goal, we reduced...
Cal-Maine Foods Announces $40.1 Million Capital Project to Expand Cage-Free Production in Kentucky
Cal-Maine Foods announced that its Board of Directors has approved a $40.1 million capital project to expand the Company’s cage-free egg production at its Guthrie, Kentucky, production facility. The project will include related site work and the additional infrastructure to convert existing conventional capacity to house approximately 1.5 million cage-free hens and 300,000 pullets.
Construction will commence immediately with initial conversions expected in early 2021, first pullet placements by summer 2021 and the first layer house finished by fall 2021. Project completion is expected by...
Top Meat, Poultry, Egg and Seafood Price Action Broken Down in the Latest Market Briefing
ANALYSIS: Shell Egg Values Hold, Even as Inventories Remain Perched at Near-Record Levels
While it’s quite common – if not expected – to see shell-egg supplies increase in early-November as producers gear up for...
ANALYSIS: Egg Product Market Comes to LifeThough retail demand for shell eggs has run significantly above norms since the peak pandemic period, foodservice demand has struggled to...
ANALYSIS: U.S. Shell Egg Production Climbs as Suppliers Prepare for Seasonal Demand Increases
The USDA’s monthly Chicken and Eggs Report released this afternoon shows the number of hens laying table-type eggs in the U.S. rose...
Urner Barry's Coronavirus Special Report - Volume IV
The global COVID-19 pandemic has disrupted consumer behavior, distribution, production, and market prices in a way we have never seen before. Now, as reopening efforts are underway, the latest business environment is a completely new venture for the food industry with its own learning curve. Both retail and foodservice have been forced to make sweeping changes in their respective sectors and adaptability remains key. Production setbacks were arguably one of the biggest challenges the meat industry faced in the last few months of the pandemic, but capacity has since largely returned to normal.
As we near the end of summer, seasonal shifts are also in play...
A Look at Sustainability in Minerva Foods’ Operations
House of Representatives Delegation Pushes USDA to Support Small Meat, Poultry Processors
Restaurant Brands International Reports Second Quarter 2021 Results
Pork Quarterly Q3 2021: Looking for Growth Amid Uncertainties
McDonald's Reports Second Quarter 2021 Results
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