ANALYSIS: Chicken Export Volumes in August

Total chicken exports were up 3.5% from July to August, compared to a 5-year average month-over-month (MoM) change of 4.6%. Of the twenty countries listed in the USDA’s monthly import/export report, thirteen of them had increased MoM export volumes in August, but only seven of them were up year-over-year (YoY). This aligns with the year-long trend of lower export volumes in which the current year-to-date (YTD) value of 4.4 billion lbs. is -8.6% lower YoY and is...

ANALYSIS: Chicken Cold Storage Holdings in August

Despite a slight retreat in demand for several domestic lines during August, frozen inventory remained well below last year’s level, fueled in part by an active call from the export arena. Now, in October, these factors are starting to resurface and play a major role in current market dynamics. Total chicken in frozen inventory was down -9.0% year-over-year (YoY), which positions August’s inventory at the third lowest seasonal level over the past ten years. All individual categories, with the exceptions of drums and paws, were also down on a YoY basis...

The Retail Rundown:  Port Strike Sends Shockwaves Throughout Supply Chain 

The strike at East and Gulf Coast ports officially began once the calendar turned to October, following unsuccessful contract negotiations between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX).

The strike's impact is being felt throughout the supply chain, causing significant disruptions in the flow of goods ahead of the rapidly approaching holiday season. 

In a statement released on Tuesday, USMX stated that its current offer includes a nearly 50% wage increase. In response, ILA said it has rejected USX's offer "because it fails to address...

Hurricane Helene Intensifies U.S. Agriculture Disruptions As Port Strike Officially Starts

Hurricane Helene, a powerful Category 4 storm, made landfall in Florida's Big Bend region on September 26, 2024. The storm caused widespread destruction across the southeastern U.S., with the death toll approaching 125 as of this writing. 

Its damaging winds, storm surge, and flooding led to power outages and infrastructure damage in Florida, Georgia, Tennessee, and the Carolinas–with the Carolinas seemingly suffering the greatest impacts. Parts of North Carolina are submerged under water, where roads have been washed out and properties have been flattened. As of October 1...

The Retail Rundown: Onwards to October

With October nearing, the shift in retail meat features from grilling cuts to roasts is picking up pace. More households are utilizing their ovens and crockpots, making it prime time for hearty ingredients like chuck roasts and pork shoulders.

Still, warmer weather lingers in some regions. For those with favorable grilling conditions, shoppers may find deals on items like steaks, ribs, and pork chops as retailers work to move any extra inventory. 

This week’s retail buying opportunities show seafood continuing to lead, making up 26.9% of protein advertisements, followed by pork at 24.7%, beef at 21.2%...

ANALYSIS: Chicken Production Outlook for Q4

The USDA is forecasting a year-over-year (YoY) decrease in beef and turkey production for Q4 of this year and a YoY increase in production of pork and chicken. Ready-to-cook (RTC) broiler production is expected to increase by 3.57% YoY. Beginning ten weeks prior to the outset of Q4 to the most current data, egg sets have been up by 2.62% to 5.04%. Increases in broiler chick placements from the middle of August, seven weeks prior to the start of Q4, are slightly less dramatic with values ranging

Cracker Barrel Reports Fourth Quarter Fiscal 2024 Results

Cracker Barrel Old Country Store, Inc. today reported its financial results for the fourth quarter of fiscal 2024 ended August 2, 2024. In 2024, the fourth quarter and fiscal year included an additional operating week ("53rd week") compared to fiscal 2023.

Fourth Quarter Fiscal 2024 Highlights

• The Company reported total revenue of $894.4 million for the fourth quarter of fiscal 2024, representing an increase of 6.9% compared to prior year quarter total revenue of $836.7 million 
• Total revenue for the fourth quarter of fiscal 2024 includes...

The Retail Rundown: Going All-Out for Autumn

Fall is just around the corner, with the official start of autumn this Sunday, September 22. As cooler weather sets in and travel plans wind down, grocers are ramping up their offerings of seasonal favorites to align with the change in consumer preferences. 

According to the Expana Retail Activity Index, seafood continues to lead for the fourth week in a row, making up 30% of total protein ads. Beef and pork are close behind, each at around 25%, while chicken accounts for 14%. Eggs represent 2.8% of retail opportunities, and turkey has 2.3%...

After Unfulfilling FSIS Public Meetings and Mounting Unanswered Questions, NCC Requests more Time 

As a result of recent unfulfilling public meetings and a growing series of unanswered questions, the National Chicken Council (NCC) today requested an additional 90-day extension to the comment period for FSIS’ proposed Salmonella Framework in order to properly analyze the proposal and provide meaningful comments.

NCC was very pleased when the Agency announced in its Constituent Update two webinars “to share information about the science behind its Salmonella Framework for Raw Poultry Products proposed rule and determination to reduce Salmonella illnesses linked to raw poultry...

ANALYSIS: A Deep Dive into Chicken Export Volume for July

July chicken export volumes were down -2.0% from June, which is a period in which the 5-year average change is an increase of 1.1%. Despite this, the amount of chicken moved to Mexico, the Philippines,and Taiwan, the first, second, and fourth top importers of U.S. chicken respectively, were up by 15.6%, 47.3%, and 28.4%. Conversely, the volumes sold to the third and fifth top importers of U.S. chicken, Cuba and Canada, were down by -7.5% and -16.0%, respectively.

The 5-year average month-over-month (MoM)...

ANALYSIS: A Deep Dive into Chicken Export Volume in July

July chicken export volumes were down -2.0% from June, which is a period in which the 5-year average change is an increase of 1.1%...

Wayne-Sanderson Farms Releases 2024 Corporate Responsibility Report

Wayne-Sanderson Farms today announced the release of its 2024 Corporate Responsibility Report, offering a comprehensive look at the Company's commitment to the well-being of its team members, environmental stewardship, responsible care of animals, and delivery of safe and delicious food to millions of families worldwide.

"Our 2024 Corporate Responsibility Report reflects our first full fiscal year as a unified force following the merger of Wayne Farms and Sanderson Farms, which has been a remarkable journey thanks to the dedication of our 26,000 employees and over 2,000 farm partners," said Clint...

The Retail Rundown: Rising Feature Volume for Roasts

This month marks an ideal blend of seasons for the retail sector, as grilling cuts continue to be featured along with autumn favorites like hearty roasts and everything pumpkin. The shift to cooler weather is already being reflected in increased promotions for pork and beef roasts, which have earned a larger share of circular ad space this week. 

In the beef category, roasts now account for 26.4 percent of total ad space, up from 17 percent the previous week. Steak promotions eased to 36.9 percent, a nearly 10-point decline from...

ANALYSIS: Chicken Cold Storage Trends in July

The total amount of chicken in cold storage in July was down -10.5% year-over-year (YoY), while month-over-month (MoM) it was up 1.5% compared to the 5-year average change of 1.0%...

KPOT Announces Opening of 80th Location, First Location in NYC

KPOT Korean BBQ & Hot Pot, a unique, hands-on, all-you-can-eat dining experience that merges traditional Asian Hot Pot with Korean BBQ flavors, today announces the opening of its 80th location, which also happens to be its first location in New York City located at 310 W 38th St in Manhattan’s Midtown West neighborhood.

KPOT offers a diverse culinary experience with an extensive selection of premium meats, fresh seafood, and crisp vegetables for both its BBQ and Hot Pot offerings...

The Retail Rundown: September's Seasonal Shifts

Although there are about two weeks left to enjoy summer, many consider the season unofficially over following Labor Day. The retail landscape is starting to reflect this shift, where factors like cooler weather and football season are already influencing consumer demand. 

The frozen/convenience aisles and deli counters benefit from back-to-school needs and provide quick meals for busy households. Circana data indicates that prepared dishes/kits earned $18.1 million in total sales last week, up from $17.7 million the week prior. Over in lunchmeat, fresh packaged turkey retailed at $7.21 discounted, an 18-cent year-over-year decrease.  

ANALYSIS: Chicken Cold Storage Chills Out in July: Stocks Dip from Last Year

Despite July’s modest 1.5% uptick in cold storage holdings when compared with June, at 757.1 million pounds, chicken inventory levels still managed to close the month at the third-lowest seasonal level realized in at least a decade.

When compared with 2023, total warehouse stocks retreated by a significant 10.5%, or 88.5 million pounds. This ongoing slump in frozen holdings aligns closely with this year’s generally consistent level of buying engagement, especially for key lines such as boneless breasts, along with a cumulative downturn in overall...

USDA Releases Updated Guideline to Strengthen Substantiation 

The U.S. Department of Agriculture (USDA) announced today the availability of an updated guideline that makes recommendations to strengthen the documentation that supports animal-raising or environment-related claims on meat or poultry product labeling. Today’s action builds on the significant work USDA has already undertaken to protect consumers from false and misleading labels and to implement President Biden’s Executive Order on Promoting Competition in the American economy.

“USDA continues to deliver on its commitment to fairness and choice for both farmers and consumers, and that means supporting transparency and high-quality standards...

Chipotle Teamsters Hold Day of Action Throughout Michigan to Demand Fair Contract

Members of Teamsters Locals 243, 247, 332, 337, 406, and 1038 picketed and leafleted outside of Chipotle restaurants in Lansing and Detroit on Monday to demand a fair contract from the fast casual behemoth. Chipotle workers at one of the chain's Lansing restaurants are represented by Local 243.

"These hardworking Teamsters aren't going to back down from a fight for fair wages, increased safety standards, a fair process for scheduling, and protection from retaliation," said Scott Quenneville, President of Local 243. "Chipotle is a multibillion-dollar enterprise...

Diverse Crop Rotations Reduce Risk of Crop Loss Under Poor Growing Conditions

Researchers at the U.S. Department of Agriculture’s Agricultural Research Service (ARS) are responding to the increasingly uncertain climate. The warmer and more unpredictable weather has been a source of instability on U.S. farms. ARS agroecologists turned to history for a solution to this challenge, which inspired them to better understand the benefits of crop rotations.

Growing a sequence of different crops in rotation has been practiced for millennia. Crop rotations can rebuild soil health, fight pests and diseases, and spread-out risk of various pests and crop disease... 

Circana Research Reveals 86% of Eating Occasions Sourced from Home Over Past Year

Despite easing inflation, ongoing economic challenges drive shifts in consumers’ eating patterns both in and away from home

Circana™, a leading advisor on the complexity of consumer behavior, recently released a new report providing a complete view of food and beverage consumption trends, both at home and away from home. The 39th annual report, “Eating Patterns in America,” highlights a growing trend toward at-home dining over the past year, with 86% of eating occasions sourced from home. While retail volumes show modest growth...

FCPT Announces Acquisition of 19 Bloomin’ Brands Restaurant Properties for $66.4 Million

Four Corners Property Trust, a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties, is pleased to announce the acquisition of 19 Bloomin’ Brands restaurant properties comprising of 20 total restaurants (10 Outback Steakhouse restaurants and 10 Carrabba’s Italian Grill restaurants, including one dual-tenant property with both concepts) for a purchase price of $66.4 million. The 19 properties are located across 10 states (AZ, FL, GA, KY, LA, NC, NV, PA, SC, and TN)...

Checkers & Rally's Launches Best-Ever Value Meal Deal - New 5 for $5

Checkers & Rally's, the drive-thru restaurant brand known for craveable food at irresistible value, is offering its best-ever meal deal. Now value seeking customers can get everything they love in a complete meal deal including returning classic Cheese Double Burger or the fan-favorite Spicy Chicken Sandwich, 8-piece Chicken Bites, fries, soft drink plus an Apple Pie, all for only $5!

"We're excited to introduce our best-ever meal deal, the new Checkers & Rally's 5 for $5...

ANALYSIS: Counting Chicken Eggs

Broiler hatcheries are setting an impressive number of eggs this year. In fact, cumulative sets not only stand 1.49% above a similar period in 2023, but they currently reside at a record high. Egg sets are also 3.33% higher than the 5-year average. While some of this increase is being felt on the chicks placement side of the equation, the rate of placements is not nearly as efficiently as it has been in the past.

This year's cumulative average hatchability rate is 79.2%, which is down from both...

Canadian Agricultural Supply Chain Fears Amid Rail Labor Dispute

Crucial agricultural supply chains are under threat across North America after a rail labor dispute in Canada led to a shutdown of freight traffic on the country's two largest railways. Agriculture industry executives are fearing a succession of devastating economic blows and are already estimating their losses.

Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC) locked out nearly 9,300 workers after midnight local time on Thursday 22 August, after multiple rounds of talks ultimately failed to clinch a late deal with the Teamsters union...

FMI Research: Shoppers Feel in Control of Their Grocery Spending

Consumers are adapting their shopping strategies to include more flexibility as they attempt to control their grocery spending heading into the fall, according to the latest survey conducted by FMI – The Food Industry Association and The Hartman Group. The report, U.S. Grocery Shopper Trends 2024: Return to Routine, provides a crucial snapshot of how shoppers are finding value and evolving their grocery shopping habits in the current economic environment.

While shoppers report continued concerns regarding inflationary pressures on food and other consumer categories...

Kroger Files Motion to Enjoin the FTC's Administrative Merger Challenge

The Kroger Co. today filed a motion for preliminary injunction in the U.S. District Court, Southern District of Ohio, against the Federal Trade Commission's (FTC) administrative proceeding challenging the company's merger with Albertson's Companies, Inc. The company argues that by proceeding in its administrative tribunal, in addition to the separate action in federal court, the FTC is violating Constitutional protections.

The motion details how the FTC's administrative proceeding against the merger clearly violates the Constitution in two areas:

• First, the FTC violates Article II of the Constitution because...

Circana Reports on the Future of Dinner: Quick Meals and Invested Occasions Define Consumer Habits

Circana™, a leading advisor on the complexity of consumer behavior, today released insights from its Future of Dinner report, revealing that U.S. consumers source 81% of their dinners at home and most often enjoy dinner with others. While Gen X prefers dinners that require minimal preparation and few ingredients, Gen Z consumers increasingly invest in special occasion dinners as they hone their kitchen skills, while also seeking no-prep dinner solutions. In fact, half of all dinners are ready in 15 minutes or less...

The Retail Rundown: Leaping Towards Labor Day

Labor Day weekend, often viewed as the unofficial end of summer, is just two weeks out. Many families are seizing the opportunity for one last vacation, boosting foodservice spending.

For some students, summer break has already concluded, and back-to-school shopping for essentials like breakfast and lunch items is in full swing. Among retailers, Labor Day is recognized as the final major grilling event of the year, marking the last big push to promote barbecue favorites.

Last week, boneless skinless chicken breasts were featured at $4.43 discounted, 18 cents above...

Hormel Foods Announces Retirement of Deanna Brady, Executive Vice President, Retail, after 28 Years 

Hormel Foods Corporation, a Fortune 500 global branded food company, today announces the retirement of Deanna Brady, executive vice president, Retail, at the end of the fiscal year on Oct. 27, 2024. During nearly three decades of distinguished service to Hormel Foods, she successfully led teams across both the foodservice and retail lines of business and served as a key architect of the company's results-driven, high-performing culture.

The company also announces the return of John Ghingo, who will join Hormel...

Senior Vice President and Chief People Officer, McDonald's USA

Today, McDonald’s Chairman and CEO Chris Kempczinski announced that Tiffanie Boyd, who currently serves as Senior Vice President, Chief People Officer for McDonald’s USA, has been promoted to Executive Vice President & Global Chief People Officer, effective August 19, 2024.

In this role, Tiffanie will oversee the company’s human resources operations around the world, including Talent Management, Talent Acquisition, Total Rewards, Learning & Development, DEI, Culture and Organization Effectiveness.

"Tiffanie is an exceptional HR leader who understands that great people are the bedrock of the McDonald's business...

Perdue Foods LLC, Recalls Frozen, Ready-To-Eat Chicken Breast Nugget and Tender Products 

Perdue Foods LLC, a Perry, Ga. establishment, is recalling approximately 167,171 pounds of frozen, ready-to-eat chicken breast nugget and tender products that may be contaminated with foreign material, specifically metal, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today.

The frozen, ready-to-eat chicken breast nugget and tender items were produced on March 23, 2024. The following products are subject to recall [view labels]:

• 22-oz. (1.38-lbs.) vacuum-sealed plastic packages containing...

July Retail Sales Reveal a Summer Vacation From Discretionary Spending, Reports Circana

Total U.S. retail sales across the combined view of discretionary general merchandise and consumer packaged goods (CPG) continued on the path toward a state of equilibrium in July. During the four weeks ending August 3, 2024, overall sales revenue remained level with the same four weeks last year, and unit demand declined 1%. While both food and beverage and non-edible CPG sales revenue increased 1%, with generally flat year-over-year unit performance, discretionary sales remained challenged, with a 3% decline in dollars and a 2%...

Bob Evans Farmhouse Kitchen Introduces Flavorful Fall Menu and “Dinner for 2” Deal

Today, Bob Evans Farmhouse Kitchen™ has announced the launch of new seasonal fall offerings with warm and inviting flavors. Embracing the essence of fall with ingredients sourced from family farms, Bob Evans invites guests to savor the taste of the season. The new menu offerings, ranging from Bob Evans Famous Sausage Chili to Hot Caramel Apple Cider and more, include farm fresh produce, tried-and-true recipes, and a touch of farmhouse tradition.

Additionally, launching system-wide, guests at Bob Evans can take...

ANALYSIS: Unseasonal Summer for Chicken

Whether or not you have experienced a seasonally "normal” summer thus far in terms of temperature and precipitation is wide-ranging depending on the part of the world you are in. Across the U.S. chicken market though, we can see that from the week of June 24th through today, some of the lines haven’t been sticking to a “seasonal script.” This analysis primarily focuses on jumbo tenders, jumbo whole wings, and jumbo boneless breast meat. Quotations for all these items have been well above the 5-year averages, with tenders, wings, and...

The Retail Rundown: Multiple Factors Fuel Promotions; CPI Update

As we reach mid-August, grocery stores are transitioning their end caps from summer displays to game-day essentials, gearing up for the NFL regular season. At the same time, circulars are packed with barbecue items for the upcoming Labor Day weekend along with back-to-school essentials as some regions are already welcoming students back to class.

This week, seafood continues to dominate, representing about 28% of total protein volume in retail buying opportunities. Pork follows with a 23.4% share, while beef captures...

Chipotle Announces CEO Departure

Chipotle Mexican Grill, Inc. today announced that Brian Niccol, Chairman and Chief Executive Officer, has accepted the role as Chairman and Chief Executive Officer of Starbucks and will be leaving the Company effective August 31, 2024. Niccol has served as Chipotle's CEO since 2018 and as Chairman of the Board since 2020.

Chipotle's Board of Directors has appointed Scott Boatwright, Chief Operating Officer, as Interim CEO. Boatwright joined Chipotle in 2017 and has been instrumental in driving restaurant operations for the company's more than 120,000 employees and over 3,500 restaurants. He also led the integration...