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CattleFax Forecasts Producer Profitability in 2023 with Potential Drought Relief for the West
The popular CattleFax Outlook Seminar, held as part of the 2023 Cattle Industry Convention and NCBA Trade Show in New Orleans, shared expert market and weather analysis today.
Prices and profitability will again favor cattle producers in 2023. The cattle industry is entering 2023 with the smallest cattle supply since 2015 as drought caused the industry to dig deeper into the supply of feeder cattle and calves. While the exact path to drought relief is unknown, improvements are also expected to translate to moderating feed costs, especially...
NCBA Announces 2023 Policy Priorities
The National Cattlemen’s Beef Association’s (NCBA) executive committee approved the organization’s policy priorities at the 2023 Cattle Industry Convention and NCBA Trade Show, with a focus on advancing animal disease preparedness, protecting voluntary conservation programs, and defending producers from regulatory overreach.
“Our focus is helping to create opportunity for America’s cattle producers and fighting to make sure the federal government does not damage our industry,” said NCBA President-Elect Todd Wilkinson. “Cattle producers have been caretakers of the land and livestock for decades and are committed to conserving this country’s natural resources while producing...
Introducing The New Premium Steak Subscription Service Herd & Grace
Herd & Grace – the new premium delivery service for high-quality steaks sourced from pristine Australian and Tasmanian pastures – is looking to provide the best possible eating experience with world-class quality Australian beef directly to the doors of American consumers — for the first time. Herd & Grace is introducing the gift of world-class luxury and has created the perfect gift for all occasions ranging from curated boxes, custom boxes, individual cuts, gift cards and yearly subscriptions.
"For so many reasons, we think this is the very best beef available...
USDA Launches Pilot Cattle Contracts Library
The U.S. Department of Agriculture (USDA) launched its pilot Cattle Contracts Library today at Noon Eastern Time on the Agricultural Marketing Service (AMS) Cattle Contract Library webpage. The Consolidated Appropriations Act of 2022 directed USDA to create a pilot library to increase market transparency for cattle producers. This pilot library will provide new disclosure to the industry and public regarding the key terms, conditions, and volumes under which cattle are contracted, bringing sunshine to practices in what is now the largest part of the cattle market...
Thousand Hills Launches Regeneratively Raised BBQ Products
Thousand Hills Lifetime Grazed launches its new industry-leading line of American Grassfed Association-certified, regenerative, fully cooked barbeque products. Thousand Hills Lifetime Grazed new line of Barbeque Shredded Beef Brisket and Pulled Pork made with 100% grassfed beef and pasture-raised heritage breed pork come fully cooked and made with Triple Crown Organic BBQ Sauce. The barbeque products are packaged in a 14 oz. microwavable and oven-safe tray, made from recyclable materials. Each one is wrapped in an eye-catching, colorful cardboard sleeve, beautifully designed with certified regenerative agriculture statements...
IEDA Board Approves Assistance for Upper Iowa Beef And Other Established Firms
Today, the Iowa Economic Development Authority (IEDA) Board approved awards for three companies, which will assist in the creation of 579 jobs and result in nearly $156 million in new capital investment for the state. These projects are located in Cedar Rapids, Des Moines and Lime Springs. The board also approved innovation funding in support of three startups located in Carroll, Cedar Rapids and Clive.
International Paper to construct steam plant in Cedar Rapids
International Paper is one of the world’s leading producers of renewable corrugated packaging...
FSIS Issues Public Health Alert for Hy-Vee Beef Pot Roast Due to Misbranding, Undeclared Allergen
The U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) is issuing a public health alert due to concerns that the gravy component of ready-to-eat Hy-Vee beef pot roast entrée products may contain wheat, a known allergen, which is not declared on the finished product label. FSIS is issuing this public health alert to ensure that consumers with an allergy to wheat are aware that these products should not be consumed. A recall was not requested because...
The Retail Rundown: Seafood Feature Volume Increases
Seafood feature volume increased to the top spot across the protein complex this week. Seafood ads account for nearly 30% of total protein ads, while beef is a close second with 29%. Pork features claim about 23%, while chicken makes up 17%. With the holiday baking season behind us, egg features accounted for less than one percent of total retail buying opportunities.
In the seafood complex, fresh finfish was the top seller last week with $28.3 million in total sales, or about 32% of the total seafood sales value. A deeper dive into the finfish category shows fresh salmon as the leading species among shoppers. Salmon retailed at an average of $11.24 non-discounted, versus $10.37 discounted.
Fresh cod purchases ranked second with about $19.2 million in sales for the week ended January 8. In the frozen aisle, shrimp retailed at $9.23 non-discounted, 14.5% higher than its discounted average price. Convenient prepared options including frozen seafood cakes made a splash with $560,320 in total sales, according to Information Resources, Inc (IRI) data...
ANALYSIS: Holiday Favorites Carving Out Record Highs
Now that we are two full weeks into the New Year, one prevailing theme that has carried over in the beef market is uncertainty. This is particularly true within the middle meat complex as seasonality and historical trends have been bucked, thrown upside down, and ignored.
There are a couple of items highlighting the broken seasonal trends and one has been bone-in or as some refer, export ribs. Values currently sit at the highest seasonal levels on record with weakness beginning to be reported. Our quotations at the time of this...
NCBA Announces Policy Committee Leaders
Today, the National Cattlemen’s Beef Association (NCBA) announced the appointment of key cattle industry leaders to serve on the association’s policy committees. The policy committees review, discuss, and vote on policy resolutions brought forward by NCBA members. These grassroots policies guide NCBA’s advocacy efforts in Washington, D.C.
“Policy committee leaders play a crucial role in directing NCBA’s advocacy efforts and addressing the issues facing the cattle industry,” said NCBA President-Elect Todd Wilkinson, a South Dakota cattle producer. “As a grassroots organization, we rely on volunteer leaders to...
Meat and Poultry Processing Equipment Market to Reach $30.5 Bn by 2032
The meat and poultry processing equipment market valuation is projected to cross USD 30.5 billion by 2032, as reported in a research study by Global Market Insights Inc.
Expansion of multinational restaurant and hotel chains, especially in Europe as a chief driver of the market growth. For instance, the expansion of multinational fast-food chains such as McDonald’s has increased the demand for meat & poultry products due to the rising demand for chicken and beef around the world. Furthermore, growing investment by the government to improve the quality and working environment in food processing industries has been another major driver for industry size.
With respect to meat, the meat and poultry processing equipment market ...
Grass Fed Certified Piedmontese Beef Now Non-GMO 100% Grass Fed & Finished
Certified Piedmontese beef has announced that they are now supplying 100% grass fed and grass finished beef that is also now Non-GMO. Raised and Produced in the USA, this sustainable meat offers all of the health benefits of grass fed beef with the added assurance of being GMO free. With the increasing demand for quality non-GMO foods, Certified Piedmontese Beef provides an excellent option for healthy, delicious protein for center of the plate customers.
Based in Lincoln, Nebraska, Certified Piedmontese...
ANALYSIS: Rib Primal Showed Unusual Strength in December
The beef market saw price volatility to the upside to end the year given the sharp production cuts seen in December as packer margins were squeezed from multiple angles. Sudden gains were nearly broad-based as buyers felt the need to step in and procure product amid supply constraint thoughts. This is indicative of the continued strong demand for beef seen for years. But while some of the items should not come as a surprise, a closer look at the rib primal certainly does...
Pork Exports Continue to Gain Momentum; Beef Export Value Sets Annual Record
November exports of U.S. pork were the largest of 2022 in both volume and value, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). November beef exports were below the large year-ago totals, but 2022 export value already set a full-year record of nearly $11 billion.
Pork exports reached 245,663 metric tons (mt) in November, up 3% from a year ago, while export value climbed 10% to $725.1 million...
Biden Administration Invests in Projects to Promote Competition and Strengthen Meat Supply Chain
U.S. Department of Agriculture (USDA) Secretary Tom Vilsack today announced the Biden-Harris Administration is investing $9.6 million across the country and taking several other steps to help farmers, ranchers, processors and rural businesses diversify the nation’s meat supply.
“USDA is putting the needs of farmers, ranchers and consumers at the forefront of the Biden-Harris Administration’s work to strengthen the resiliency of America’s food supply chain while promoting competition,” Vilsack said. “USDA has undertaken a Department-wide approach to...
Morasch Meats Inc. Recalls Raw Frozen Diced Beef Products Due to Possible E. Coli Contamination
Morasch Meats Inc., a Portland, Ore. establishment, is recalling approximately 3,930 pounds of raw frozen diced beef products that may be contaminated with E. coli O157:H7, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today.
The raw frozen diced beef items were produced on August 24, 2022. The following products are subject to recall [view labels]:
30-lb. box packages containing “BEEF DICED 3/10# BAGS,” with case code FM010152, LOT#: 082422...
Protocol Amending the Beef Safeguard Provisions of the U.S.-Japan Trade Agreement to Start Jan. 1
United States Trade Representative Katherine Tai and Japan’s Ambassador to the United States Koji Tomita today, confirmed in an exchange of letters that amendments to the beef safeguard trigger level under the U.S.-Japan Trade Agreement (USJTA) will enter into force on January 1, 2023.
The letters confirm that both countries have completed their respective domestic procedures with respect to the June 2, 2022, Protocol Amending the Trade Agreement Between Japan and the United States of America (Protocol) and also...
October Pork Exports Largest in 16 Months; Beef Exports Already Top $10 Billion
October exports of U.S. pork were the largest in more than a year and beef export volume also increased from a year ago, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
Pork exports reached 238,198 metric tons (mt) in October, up 5% from a year ago and the largest since June 2021. Pork export value increased 13% to $697.3 million, the highest since May 2021. For January through October, pork exports were 12% below last year...
This Week in Retail: The Christmas Countdown
Jingle bells—or should we say alarm bells—are ringing now that just two short weekends are left to shop for Christmas.
In the lead-up to the big day, grocers are focused on holiday spending as consumers prepare to celebrate the season with food and drinks. This sparks interest in the protein case and traditional favorites for the Christmas dinner table, including hams and rib roasts.
This week in retail, pork leads the charge in retail buying opportunities with 30 percent of total protein ad space. Seafood follows with 24.2 percent, while beef comes in with 22.3 percent. Chicken accounts for 15.5 percent, up slightly from the week prior.
Upon closer inspection, bacon features make up a large chunk of category ads within the pork complex. Brand-label bacon currently averages $6.43 per pound, up 19 cents a year ago and at a near seasonal all-time high. Shoppers can find holiday hams at a more palatable price point of $1.96 per pound on average, below $2.23 last year. Pork roasts are situated above 2021 levels at an average of $2.98 per pound but are competitively priced against many beef and chicken items...
Global Animal Protein Outlook 2023: Deciding How to Grow Amid Challenges and Opportunities
Even though global animal protein production is expected to grow modestly in 2023, it will be another year of change for the sector. The industry will face high costs along the full supply chain, swings in consumption, and other areas of uncertainty for producers, such as elevated disease pressure and regulatory and market-driven changes. As a result, margins will be squeezed as buyers push back on higher production costs. But opportunities still exist, although they will be more restricted.
This Week in Retail: Grocers Deck the Halls With December Deals
Deck the halls with… wait—it’s December already?
Now that Thanksgiving is yesterday's news, retailers are honing in on Christmas and other holiday demands. This month, several seasonal factors shape both the wholesale and retail markets.
For beef, wholesale prices typically take on a softer undertone towards the year's end once holiday orders are filled. Last year, Urner Barry's Choice cutout value shaved off nearly 10% from the beginning of November to the tail end of December.
On the contrary, retail prices typically climb to some of their highest levels of the year late this month. This is largely due to increased demand for high-quality beef cuts around the holidays...
Gov. Ricketts Begins Japan Trade Mission, Promotes Nebraska Ag Products in Tokyo
This week, Governor Pete Ricketts is leading a trade mission to Japan to promote Nebraska’s quality ag products and to pitch Nebraska as a top destination for international investment.
The Governor and trade delegation will meet with government officials, promote Nebraska beef, pork, ethanol, and other ag products, and encourage Japanese businesses to invest in Nebraska. Delegates on the mission include representatives from ag businesses, state commodity organizations, the Nebraska Farm Bureau, the Department of Agriculture (NDA), and the Department of Economic Development (DED)...
ANALYSIS: Beef Cold Storage Stocks Break 8-Month Seasonal Highs
USDA monthly cold storage data released last week showed beef stocks held in the nation’s freezers at the end of October was 509,949,000 pounds. This was three percent below last month, but nearly eight percent above last year.
It broke the string of eight straight months since February that stocks were the highest on record for that month as it crossed below October 2018...
Beef Quarterly Q4 2022: As the US Goes, So Goes the World
Beef markets are still performing well, but macroeconomic pressures are building up beneath the surface. Cattle prices are generally favorable, supported by seasonal conditions and consumer demand. But consumer confidence is waning, given the slowing economic backdrop, which may yet cause demand to soften. We see emerging supply-side dynamics that will also influence markets. The central question is whether beef markets are shaped more by demand-side or supply-side pressures as we head into 2023...
Pre-Report Estimates for Oct Cold Storage Show Total Stocks 13.2% Above Year Ago
USDA will release its monthly cold storage report at 3 p.m. eastern time Tuesday. Bob Brown, a private analyst from Edmond, Oklahoma, provided his insight on what the latest report might show...
Fresh Pork Prices Drift Lower as Ample Chicken Supply Offsets Pork/Beef Decline
Fresh pork prices continue to be pressured lower due to increased competition from chicken breasts at retail and seasonal decline in demand.
September Pork Exports Continue Upward Trend; Pace Cools for Beef
U.S. pork exports topped year-ago totals for the second consecutive month in September, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). September beef exports were below last year for the first time in 2022, but exports remain on a record pace through the first three quarters of the year.
Pork exports reached 222,202 metric tons (mt) in September, up 1% from a year ago. Export value increased 9% to $664.8 million – the highest since June 2021. Through September, pork exports were...
This Week in Retail: Varying Supplies, Weather Influence Retail Activity
This week, the retail landscape is influenced by an assortment of factors including varying supplies of protein and the weather.
Looking at pork, hog supplies typically undergo a seasonal expansion from now into the early winter. October is National Pork Month and retailers usually promote pork features to boost sales as more product becomes available.
This year, however, persistent hog disease issues including porcine reproductive and respiratory syndrome (PRRS) have kept supplies relatively snug.
Hog values have depreciated since mid-summer and the national average hog price is currently down nearly 26% from August. Despite a seasonal correction, hog prices remain elevated at near all-time highs for this time of year. Urner Barry's wholesale pork cutout is down roughly 22% from its summer peak and is now 10% under 2021...
This Week in Retail: Protein Indices Are Above 3-Year Average; CPI Data Released
In the face of ongoing inflationary pressures along with animal disease issues impacting the protein industry, wholesale beef, pork, and poultry prices continue to reside at or challenge all-time highs.
In the retail red meat complex, Urner Barry’s weekly retail feature beef index this week averages $6.34 per pound, down $1.02 per pound from a week ago but 6 cents per pound above the 3-year average.
The boxed beef market is currently moving mostly sideways but has dipped to 52-week lows in recent days. Despite this, Urner Barry's Choice and Select cutouts remain at near seasonal all-time highs, second or third to 2021 and 2014....
American Foods Group Breaks Ground on $800 Million Facility in Missouri
American Foods Group (AFG) broke ground on its new $800 million state-of-the-art beef processing facility in Warren County, Missouri
The ground-breaking saw Missouri Governor Mike Parson on the scene to mark the start of a project that is expected to generate $1 billion annually for the state.
“As a third-generation farmer and cattleman myself, I am proud to welcome AFG to Missouri. This is a major development that will benefit Missouri’s agricultural producers and consumers for years to come,” Governor Parson said...
Celebrate National Cheeseburger Day with Applebee’s Handcrafted ‘Burger Bundles’ To Go
In celebration of National Cheeseburger Day on September 18, Applebee’s is offering its fans an online Burger Bundle deal consisting of any one of its delicious, Handcrafted Burgers paired with Classic Fries and Applebee’s exclusive MTN DEW Dark Berry Bash® for only $10.99.* For one day only, guests can order online at Applebees.com or the mobile app from their local Applebee’s restaurant to celebrate the tastiest day of the year with a complete Burger Bundle!
Applebee’s Handcrafted Burger Bundle includes the choice of the Bacon Cheeseburger, Whiskey...
FSIS Issues Public Health Alert For Ground Beef In HelloFresh Meal Kits Due to Possible E. Coli
The U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) is issuing a public health alert due to concerns that ground beef products in HelloFresh meal kits may be associated with Escherichia coli (E. coli) O157:H7 illness. A recall was not requested because the products are no longer available for purchase.
The meal kits containing ground beef for this public health alert were shipped to consumers from July 2-21, 2022. The following products are subject to the public health alert...
Walmart Announces Equity Investment in Sustainable Beef LLC
Walmart and Sustainable Beef LLC announced today that Walmart signed an agreement to acquire a minority stake in Sustainable Beef LLC, a rancher-owned company based in North Platte, Nebraska. Walmart’s equity investment is part of a broader strategic partnership to source top-quality angus beef from Sustainable Beef LLC’s new beef processing facility. This partnership helps supplement the current beef industry and provides additional opportunities for ranchers to increase their business. As part of the investment, Walmart will also have representation on Sustainable Beef’s board.
Walmart’s investment will help Sustainable Beef...
Beef Quarterly Q3 2022: Leaning Into the Trimmings Trade
The global beef market remains strong. Most beef retail prices (in domestic currencies) continued their upward trend in Q2 or remained steady. Although Q2 prices did not rise much above Q1, most are sitting between 5% and 11% higher than Q2 2021.
Meanwhile, evidence of declining consumer confidence in the face of slowing economies and rising inflation is building. In general, beef markets are resilient to changes in economic conditions. However, we see movement within supply channels and price points that tend to favor cheaper...
Beef Makes Back to School Easy
As kids head back to school parents everywhere want to make sure their children have everything they need to succeed including nutritious meals to get them through another busy year. Beef. It's What's For Dinner., funded by the Beef Checkoff, has five meal trends to help save time and keep kids happy and fueled.
Even the pickiest of eaters can find something they like with the variety delivered in a bento box. Known for their divided compartments, the Japanese-style lunch boxes make prepping school lunches easy. Fill the different sized compartments...
NBCA Condemns Flawed "Food Compass" Study
Study Ignores Scientific Research on Beef Nutrition and Beef's Role in a Healthy Diet
Today, the National Cattlemen’s Beef Association (NCBA) condemned the flawed “Food Compass” study funded, in part, by fake meat promoter Bill Gates.
“The idea that M&M’s, potato chips and cereal are somehow healthier than natural beef ignores scientific evidence and frankly doesn’t measure up to logic. These snack foods are high in sugar, carbohydrates and fats, while beef is a nutrient-rich food that provides essential protein, iron, zinc and numerous B vitamins,” said NCBA CEO...
This Week in Retail: Beef Features Increase Ahead of Labor Day
It may be hard to believe, but Labor Day weekend is just over two weeks away.
Grocers have already completed the bulk of their purchases for the last major grilling occasion of the summer season.
The meat case could perform well over the holiday with several popular grilling items featured at lower price points compared to last year. Ground beef is likely to grab a large share of circular space as households fire up the grill with burgers and more...
This Week in Retail: Wrapping Up July; Digesting the Latest GDP Data
Wrapping up July, grocers are promoting fan-favorite grilling items like steaks, pork chops, and shrimp in an effort to encourage at-home cooking during the dog days of summer—a seasonally sluggish period for meat sales.
Seafood features make up nearly 33% of total protein ad volume this week, marking the fifth consecutive week that it has seized the top spot. Beef comes in second with 23%, closely followed by pork with 22%. Chicken claims 17.5% and eggs make up 1.3% of ad space, down from nearly 5% the week...
This Week in Retail: This Year's July Fourth Cookout Could be Costlier
Consumers might sweat when shopping for July Fourth festivities since this year's cookout could be costlier than in years past.
According to data from the Bureau of Labor Statistics, inflation remains elevated at a multi-decade high with the index for meats, poultry, fish, and eggs rising 14.2% over the last 12 months.
Despite higher retail prices and squeezed budgets, most households are forging ahead with their Independence Day plans. According to the National Retail Federation, 84% of consumers plan to celebrate the Fourth this year.
Of those, 59% of people plan to ring in Independence Day with a cookout...
Rabobank: Beef Quarterly Q2 2022
The first signs of softening consumer confidence are apparent in most markets, with wholesale prices for beef coming under pressure even though production costs are higher. A downward adjustment of cattle prices and upstream input costs will be needed to restore processor margins and to maintain beef’s competitiveness with consumers. We expect ongoing adjustments of consumption and margins in all markets as we head into Q3 2022.
Meanwhile, lockdowns in China and biosecurity risks in Indonesia pose notable implications for trade. Lockdowns of major Chinese cities are further constraining beef demand and restricting foodservice sales...
Latest Maersk Cold Storage Facility Set to Open in New Jersey This Fall
A cold storage facility serving both imports and exports of fish, poultry, beef, pork, fruits and vegetables will open in Dayton, New Jersey in October, Performance Team – A Maersk Company, announced on June 6.
Maersk explained that end-to-end supply chain solutions are made by the company’s Oceans services calling APM Terminals Elizabeth, New Jersey that can be integrated with Maersk Customs Services, USA Inc. customs clearance expertise and Performance Team – A Maersk Company’s 60+ warehouses and Transportation services - designed to serve storage, fulfillment...
This Week in Retail: Prepping for the Next Major Summer Grilling Occasion
Grocers will soon be featuring meat and poultry cuts for Father’s Day, the second major grilling event of the season that falls between Memorial Day and Independence Day.
Typically, June is the most active time of the year for backyard grilling as the warmer weather beckons families to cook outdoors. Grocers will try to encourage shoppers to cook at home rather than dining out for Father's Day this year by featuring popular grilling items at attractive price points when possible...
UB Consulting: Do Beef Prices Relate to Consumer Sentiment?
The Michigan Consumer Sentiment Index (MCSI) measures consumer sentiment on a wide range of economic topics, including personal finances, housing, and business conditions. For market participants within the protein markets, understanding consumer attitudes relative to their economic situation can prove to be beneficial in understanding any shifts in market demand...
This Week in Retail: Protein Features for Memorial Day Weekend
For Memorial Day weekend, beef features steal the spotlight with 30% of total protein ad volume. Seafood claims 28.5%, followed by pork with 23%. Chicken features account for 15% of retail buying opportunities, while turkey sneaks in with 1.6%.
In the beef complex, steaks have nearly 48% of feature volume. Ground beef ads account for 30%. The steak complex averages $9.18 per pound, up $1.15 per pound from a year ago. All except for top round and bone-in rib are priced higher than a year ago.
The price of 80% lean ground beef averages slightly above a year ago at $3.32 per pound. Burgers are often favored as a cost-effective and easy way to feed large gatherings...
Inversion of the Cattle Cycle in Brazil: Increased Production Will Fuel More Growth in Beef Exports
Due to the retention that started in 2019 and gained momentum in 2020, a significantly increased number of calves and steers ready to enter intensive production systems should reach the market in 2H 2022. Added to the increase in the share of females in slaughter, this should bring about a change in the livestock cycle and consequently increase the supply of slaughter cattle.
It is important to point out that, with feed prices still expected to be high in 2H 2022, the margins of...
This Week in Retail: Beef Ads Lag Leading Up to Memorial Day
The Memorial Day holiday is just one weekend away and grocers are gearing up for the unofficial start to the summer grilling season.
This major retail occasion typically drives sales from the meat case, with items like burgers and hot dogs stealing the spotlight.
Beef features account for 28% of total protein ad volume this week, up slightly from the previous week. Pork and seafood are tied for second with 25%. Chicken claims 16%, even with the week prior.
While beef holds the top spot in retail buying opportunities, market participants have reported lackluster beef features for this time of year. May is typically the strongest period of the year for beef demand...
While beef holds the top spot in buying opportunities, market participants have noted lackluster beef features for this time of year. May is typically the strongest period of the year for beef demand...
This Week in Retail: Protein Demand and Rising Food Inflation
Fueled by rising food inflation, consumers nationwide continue to see higher prices for protein along with other goods, both at retail and foodservice.
The Consumer Price Index (CPI) rose 8.3% in April, according to the Bureau of Labor Statistics—down slightly from the month prior. However, the latest figure was still near a 40-year high and slightly above what some analysts had anticipated.
The food index increased 0.9% last month, its seventeenth consecutive monthly increase.
Five of the six major grocery store food group indexes increased in April. The fruits and vegetable category was the only index that declined last month. The index for meats, poultry, fish, and eggs rose 1.4% in April, driven by a 10.3% increase in the egg index...
USDA Data Reveal: Cattle Sale Revenues Grew 16% in 2021
Following two Congressional hearings on the beef and cattle markets largely focused on prices producers receive for their cattle, the North American Meat Institute (Meat Institute) today said the latest USDA annual report on livestock income clears up misconceptions about the state of cattle markets and shows cash receipts for the sale of cattle and calves increased 16 percent, from $63.1 billion in 2020 to $72.9 billion in 2021.
“As our members said in their testimony, prices are improving for cattle producers due to supply and demand reflecting..."
Meat Institute to House Ag Chair Scott: Packer Margins Since 2015 Due to Increased Herd Size
The North American Meat Institute (Meat Institute) today answered questions asked of meat and poultry industry companies by House Agriculture Committee Chairman David Scott during a hearing on beef and cattle markets:
“The analysis of beef and cattle market margins from 2015 are not in dispute,” said Julie Anna Potts, President and CEO of the Meat Institute. “Cattle prices hit record highs in 2014 and 2015, when the overall cattle herd was at its smallest since 1952 (for context, that was during the Truman...
Meat Institute to House Ag: More to Beef & Cattle Markets than Packers & Producers
The North American Meat Institute (Meat Institute) today said the beef and cattle markets are complex, driven by supply and demand and have more participants than packers and producers who add value at each step in production.
“Too often, the policy debate around the cattle and beef industry is an overly-simplified discussion limited to cattle producers versus beef packers. It is imperative policy makers remember: packers don’t buy fed cattle from cow-calf producers; nor do packers sell beef to consumers,” said Julie Anna Potts, President...
“Too often, the policy debate around the cattle and beef industry is an overly-simplified discussion limited to cattle producers versus beef packers. It is imperative policy makers remember: packers don’t buy fed cattle from cow-calf producers; nor do packers sell beef to consumers,” said Julie Anna Potts...
Tyson Foods CEO: Beef Prices Driven by Strong Demand, Constrained Production and Record Inflation
“It’s a question of basic supply and demand,” says King.
A combination of market forces, including consistently strong demand for finished beef, constrained production due to labor shortages caused by the global pandemic, and record inflation, have been driving current beef prices, Tyson Foods President & CEO Donnie King says in prepared testimony delivered to the U.S. House Agriculture Committee. The testimony was presented in advance of a hearing on Wednesday.
King makes the following points in his testimony:
- As with nearly...
NAMI to Senate Ag: Cattle Prices at Seven Year Highs; Reject Costly Grassley-Fischer Bill
With cattle prices at seven-year highs following record beef production in February and March as the packing sector recovers from COVID-related labor shortages and supply chain issues, the North American Meat Institute today urged members of the Senate Committee on Agriculture, Nutrition and Forestry to reject the Grassley-Fischer bill’s mandates and federal intrusion in the beef and cattle markets.
“Leading agricultural economists have determined Grassley-Fischer bill’s latest draft remains costly to producers, especially producers in Texas..."
NCBA Renews Call for Suspension of Brazilian Beef Imports
Following the recent USDA report highlighting an increase in Brazilian beef imports, the National Cattlemen’s Beef Association (NCBA) renewed its call for the immediate suspension of fresh beef imports from Brazil. NCBA has repeatedly called for a thorough audit of Brazil’s animal health and food safety system, to ensure the safety of the U.S. cattle herd. In 2021, Brazilian exports to the United States increased by 131 percent. In the first three months of 2022, Brazil has already shipped more than 50,000 metric tons of fresh beef to the...
United States and Japan Reach an Agreement to Increase Beef Safeguard Trigger Level
United States Trade Representative Katherine Tai and United States Secretary of Agriculture Tom Vilsack today announced that the United States and Japan have reached an agreement to increase the beef safeguard trigger level under the U.S.-Japan Trade Agreement. The new three-trigger safeguard mechanism will allow U.S. exporters to meet Japan’s growing demand for high-quality beef and reduce the probability that Japan will impose higher tariffs in the future.
“This agreement is a great win for our two countries that ensures American farmers and ranchers...,”
This Week in Retail: Steak Features See Boost from Warmer Weather; Eyeing HPAI
Sunday marked the official start of spring. For retailers, that means grilling season is rapidly approaching, and with it—the opportunity for increased meat sales.
Steak features surged this week, accounting for 50.5 percent of total beef ads—up 16 percentage points from the week prior. Feature volume for roasts, meanwhile, has decreased, falling from 38.2 percent last week to 23.2 percent this week.
This week in retail, the steak complex averages $8.12 per pound, up 12.8 percent from a year ago. Boneless strip steaks are widely featured at grocery outlets across the nation and average $11.68 per pound, up 36 percent from a year ago. Top sirloin steaks are up 3.3 percent YoY at $5.64 per pound while bottom round steaks clock in at $5.54 per pound, up a whopping 68.4 percent from this week last year...
Cattle Producers Welcome Contract Library Pilot Program
On Thursday, the Senate passed the Fiscal Year 2022 Omnibus Appropriations package. In addition to providing funding for a number of programs of importance to U.S. beef cattle producers, the bill also maintained key provisions the National Cattlemen’s Beef Association (NCBA) has long advocated for, such as the Electronic Logging Device exemption for livestock haulers, important EPA regulatory relief, and an extension of the Livestock Mandatory Reporting program. Also included in the package is a Cattle Contract Library pilot program, a critical tool as NCBA works to increase market transparency for cattle producers...
NAMI: Congress Blocks Industry Input on Cattle Contract Library Pilot Program
The North American Meat Institute (Meat Institute) today said the Fiscal Year 2022 Omnibus Appropriations Bill creates a Cattle Contract Library pilot program requiring beef packers to report private business information to the government that will then be published, but blocks public comment on the Biden Administration’s proposed rules for the program.
“Congress and the Administration say they value transparency in the beef and cattle market yet they bury this rider without debate in a giant spending bill and direct USDA to create the pilot program without any feedback..."
Beef Quarterly Q1 2022: Strong Demand but Cost Headwinds Prevail
Global beef markets remain tight. Ongoing strong demand and more limited supplies have kept global beef prices high. But cost pressures are flowing into the supply chain.
Over the past two years, retail beef price movements have been phenomenal, driven largely by strong consumer demand and some supply shocks. In many cases, this increase in prices was caused by demand pull. With supply unable to keep up, the increase in demand has created an imbalance in the market and as a result beef prices have lifted...
This Week in Retail: Farewell February; What's Next?
Wrapping up the final full week of February, wintry weather is in full force as back-to-back storms rip through the Eastern two-thirds of the country. Amidst the havoc, retailers are eagerly looking towards spring demand, which is boosted by seasonal influences including more favorable grilling conditions and holidays like Easter.
Retail protein sales are typically sluggish in February, leaving much to be desired among grocers. However, consumer retail demand for meat has remained strong so far this year despite a normal seasonal lull and higher prices for most items. In the near term, grocers will begin to shift their retail features from red meat and poultry towards seafood as Lenten observers begin a 40-day period of fasting and reduced meat consumption starting on March 2nd.
The seafood complex accounts for 27% of total protein features this week. Beef makes up 26.5% of feature volume, while pork closes in on 21%. Chicken claims almost 13% of ad space, followed by eggs...
2021 Beef Exports Shatter Previous Records; Pork Export Value Also Reaches New High
U.S. beef exports greatly exceeded previous volume and value records in 2021, surpassing $10 billion for the first time, according to year-end data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Pork exports finished slightly below the record volume reached in 2020 but set a new value record, topping $8 billion for the first time.
December beef exports totaled 121,429 metric tons (mt), up 1% from a year ago, while value climbed 33% to $991.8 million – the third largest...
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