August Retail Sales Supported by Job and Wage Gains Amid Continued Inflation

Consumers’ willingness to spend overcame inflation again in August as more jobs and higher wages helped ease some of the pressure of continuing high prices, the National Retail Federation said today.

“August retail sales show consumers’ resiliency to spend on household priorities despite persistent inflation and rising interest rates,” NRF President and CEO Matthew Shay said. “As we gear up for the holiday season, consumers are seeking value to make their dollars stretch. Retailers have been hard at work managing their supply chains and holiday inventories to provide..."

Pork Checkoff: Mixed Signals in the Market as Some Items Struggle, Others Trade Firm

The cure for high prices is high prices — lack of features and ample inventory cause prices to adjust and create future opportunities.

Highlights
• Following the record-breaking levels of a year ago, backribs are now at the lowest levels of the past five years. Prices may need to stay low for a bit longer to “buy” some demand from retail and foodservice. For operators, current prices present excellent feature opportunities.

• Pork prices were firm at the end of the week on seasonally lower slaughter as well...

Poultry Quarterly Q3 2022: Bullish Outlook With Strong Demand and Big Operational Challenges

The outlook for the global poultry industry for 2H 2022 is bullish, despite significant cost pressures and other operational challenges.

Demand is strong, with most countries open after adopting ‘living with Covid’ strategies. This is pushing up poultry demand, while global pressure on spending power and high food prices are also leading consumers toward the lowest-priced meat protein: poultry.

The biggest challenge for the industry is on the operational side. Feed and energy prices are higher than they have been in many years...

April Retail Sales Grew With Consumers ‘Taking Higher Prices in Stride’

Consumers accustomed to inflation continued to spend in April as retail sales overcame higher prices to show both monthly and year-over-year increases, the National Retail Federation said today.

“April retail sales demonstrate consumer strength and willingness to spend despite persistent inflation, supply chain constraints, market volatility and global unrest,” NRF President and CEO Matthew Shay said. “While consumers are facing higher prices, they are preserving their budgets by shopping smart. Retail businesses are also facing increased costs like higher energy bills and rents as well as the..."