Cal-Maine Foods Reports Third Quarter Fiscal 2022 Results

Cal-Maine Foods, Inc. reported results for the third quarter of fiscal 2022 (thirteen weeks) and 39-week period ended February 26, 2022.

Net sales in the third quarter of fiscal 2022 increased 33.0 percent to $477.5 million compared to $359.1 million in the third quarter of fiscal 2021. The Company reported net income of $39.5 million, or $0.81 per basic and diluted common share, for the third quarter of fiscal 2022, compared to net income of $13.5 million, or $0.28 per basic...

ANALYSIS: Shell Egg and Egg Product Values Soar as Bird Flu Claims More than 10 Million Laying Hens

As we prepared to enter the second quarter of the year—and the second year of the pandemic—it appeared that COVID-19 was finally moving into the rearview and that the nation was poised to return to some semblance of normalcy...

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...

FDA Releases New Egg Regulatory Program Standards for Improving Egg and Egg Product Safety

The U.S. Food & Drug Administration (FDA) and the National Egg Regulatory Officials (NERO) are announcing a new program for state egg and egg product regulators entitled the Egg Regulatory Program Standards (ERPS). The standards are designed to integrate the regulatory activities of partner agencies into an efficient and effective process for improving egg and egg product safety in the U.S.

The FDA Food Safety Modernization Act called for enhanced partnerships of government agencies and provides a legal mandate for developing an Integrated Food Safety System (IFSS)... 

Cal-Maine Foods, Inc. Announces Strategic Investment in New Egg Products Manufacturing Company

Cal-Maine Foods, Inc. today announced the Company’s Board of Directors has approved a strategic investment that will specialize in high value commercial product solutions targeting specific needs in the food
industry. The initial focus will include hard-cooked and extended shelf-life egg product lines. The new entity, located in Neosho, Missouri, will operate as MeadowCreek Foods, LLC (“MeadowCreek”).

Cal-Maine Foods will capitalize MeadowCreek with up to $18.5 million in debt and equity to purchase property and equipment and to fund...