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January Retail Sales Overcome Omicron and Inflation to Show Strong Gains
Retail sales powered through COVID-19’s omicron variant, inflation and other challenges to post strong increases in January, the National Retail Federation said today.
“January’s numbers show that 2022 is starting very strong for consumers and retailers, especially on the heels of a record holiday season and record sales in 2021,” NRF President and CEO Matthew Shay said. “While the year ahead has challenges with inflationary pressures, labor shortages, COVID-19 impacts and uncertainty related to international tensions in Russia and China, today’s numbers show that despite these..."
NCBA Releases 2022 Policy Priorities
During the 2022 Cattle Industry Convention and NCBA Trade Show, the executive committee of the National Cattlemen’s Beef Association (NCBA) approved the organization’s 2022 policy priorities with an emphasis on strengthening the economic, environmental and social sustainability of the cattle industry.
NCBA’s policy priorities include:- Improving market leverage and opportunities through increased access to market data and risk management tools for producers.- Securing the future of the beef industry by protecting crucial tax provisions, limiting regulatory burdens on farms and ranches, and leveling the playing field for producers.- Boosting the resiliency of the beef...
Americans Projected to Eat 1.42 Billion Chicken Wings for Super Bowl LVI
Football fans might be surprised at the matchup, but one thing is not surprising: America’s love for chicken wings. This is never more apparent than on Super Bowl weekend, when wings are at their hottest. Americans are anticipated to devour 1.42 billion wings while watching the Cincinnati Bengals and Los Angeles Rams battle for the Lombardi Trophy, according the National Chicken Council’s (NCC) 2022 Wing Report.
“There will be no wing shortage,” said NCC spokesperson Tom Super. “Like almost anything else you buy right now, wings might be..."
Hormel Foods Highlights Record Net Sales at its Annual Meeting of Stockholders
Hormel Foods, a Fortune 500 global branded food company, hosted its Annual Meeting of Stockholders on January 25, 2022. Jim Snee, chairman of the board, president and chief executive officer led the meeting, discussing the company’s performance, strategic priorities, and corporate responsibility initiatives.
“In 2021, we faced virtually every type of challenge – from the continuing impact of the pandemic to labor shortages and supply chain challenges – and I am pleased to report that your company never lost its focus on delivering a year marked with numerous records..."
Higher Wages, Input Costs, Supply Chain Problems Affecting Pork Prices, Not 'Concentration'
In a report issued today, economists with Iowa State University, North Carolina State University and the National Pork Producers Council found that pork prices have risen because of strong demand for U.S. pork, higher input costs and labor shortages throughout the supply chain, not concentration in the meatpacking industry. The report’s authors, Iowa State’s Dermot Hayes, NC State’s Barry Goodwin and NPPC’s Holly Cook, also found that pork prices in the United States are still lower than in many other countries.
The pork packing industry is made...
North American Meat Institute to House Judiciary: Meat & Poultry Industry not to Blame for Inflation
The North American Meat Institute (Meat Institute) today said consumers saw increased meat prices in 2021 because of labor shortages, greater consumer demand, supply chain problems and other factors experienced by most sectors of the economy.
“Inflation is hurting consumers by erasing the wage gains workers received due to the tight labor market and the pandemic,” said Julie Anna Potts, President and CEO of the North American Meat Institute. “It is no wonder the Biden Administration and some members of Congress would rather hold press..."
Omicron Could Contribute to Uncertainty and Inflation But is Unlikely to Bring Shutdowns, NRF Says
The COVID-19 omicron variant will bring uncertainty to the economy in 2022 and could contribute to inflation, but is unlikely to cause widespread shutdowns or slowdowns, National Retail Federation Chief Economist Jack Kleinhenz said today.
“Even with the experience of the past two years, there is no model that can predict how the economy responds to a pandemic,” Kleinhenz said. “What we have learned is that each successive variant has slowed down the economy but that the degree of slowdown has been less...”
Wages, Input Costs & Supply Chain Problems Pushing Up Pork Prices, Not Profits
In a report issued today on retail pork prices economists with Iowa State University, North Carolina State University and the National Pork Producers Council found that pork prices, not industry profits, are rising. Prices are rising due to increased transportation costs, supply bottlenecks and delays and increased labor costs throughout the pork chain. Those factors, said Iowa State’s Dermot Hayes, NC State’s Barry Goodwin and NPPC’s Holly Cook, were either caused or exacerbated by the COVID-19 pandemic.
Other factors that have affected prices up and down the...
McDonald's Modernizes Hiring Efforts with Linq
It is commonplace today to see signs at restaurants indicating closed due to staff shortages, longer than usual wait times, and, unfortunately, companies closing their doors. Hiring has been and will continue to be a massive hurdle for restaurants as it has become harder to attract and retain employees. McDonald's understands the importance of hiring and is using innovative technology to modernize its hiring process.
"We are thrilled to modernize McDonald's hiring efforts by making it easier to capture applicants' information and provide insightful analytics for every step of the process." — Josh Champion...
Technomic Releases 2022 Foodservice Predictions for the U.S., Canada and Global Markets
Technomic released three whitepapers uncovering 2022 foodservice predictions for the U.S., Canada and global markets. Navigating labor constraints, supply chain challenges and shifting consumer behaviors, operators will focus on adapting strategies and finding new innovative solutions.
Overall, Technomic predicts that industry recovery will continue in 2022, forecasting that the U.S. will surpass its 2019 sales level and Canada will be just 3% shy of pre-pandemic sales levels. From menu restructuring to rethinking the guest experience, operators across regions will reconsider priorities aligned with...
Pork Producers Lobby Lawmakers on Issues
Preventing foreign animal diseases, addressing a shortage of agricultural workers and reauthorizing a livestock price reporting law are the primary issues on which pork producers will lobby their congressional lawmakers over the next two days, during the fall Capitol Hill fly-in of the National Pork Producers Council. More than 100 producers from across the country are expected to participate virtually in NPPC’s Legislative Action Conference.
“These are critical but by no means the only issues of concern to U.S. pork producers,” said NPPC President Jen Sorenson, communications director for Iowa Select Farms in...
Rising Inflation, Relentless Pandemic Dampen U.S. Consumer Confidence
U.S. consumer confidence dropped to a nine-month low in November amid worries about the rising cost of living and pandemic fatigue, but that did not change expectations for stronger economic growth this quarter.
The survey from the Conference Board on Tuesday showed consumers less enthusiastic about buying a house and big-ticket items such as motor vehicles and major household appliances over the next six months, likely because of shortages, which have boosted prices. Consumers held strong views of the labor market, with the gap between those saying jobs are plentiful...
North American Meat Institute: Labor Shortage Driving Inflation
In Testimony submitted to the House Agriculture Committee, the North American Meat Institute (Meat Institute) today said the labor shortage continues to challenge the nation’s food supply chain raising the cost of all food for consumers.
“Just six weeks ago, the Biden Administration tried to blame the meat and poultry industry for the rising cost of food,” said Julie Anna Potts, President and CEO of the North American Meat Institute. “Today, the Congress will hear from other food manufacturers, shippers, input suppliers, growers and retailers enduring the same labor shortages up and...
North American Meat Institute Statement on Consumer Prices for Meat and Poultry Products
The North American Meat Institute today issued the following statement about inflammatory statements regarding the meat and poultry industry and the price of consumer goods during a labor shortage and a global pandemic:
“As with almost every industry, meat and poultry packers and processors of all sizes have been, and continue to be, affected by the global pandemic and the inflationary trends that challenge the U.S. economy,” said Mark Dopp, Chief Operating Officer for the North American Meat Institute. “American consumers of most goods and services are..."
NPPC Asks Congress to Address Agricultural Labor Shortage Through Reconciliation Bill
With a scheduled vote in the U.S. House set for Monday, the National Pork Producers Council today called on Congress to include in a budget reconciliation bill language to expand the existing H-2A visa to year-round agricultural workers.
Like many sectors of the economy, the U.S. pork industry is faced with a severe labor shortage. But even before the COVID-19 pandemic, the industry was having trouble filling jobs, a situation generally attributable to urbanization and an aging rural population. The tight labor market prompted the pork...
Bojangles To Close For Two Upcoming Mondays To Give Staff a Break
Following a long, challenging year and a half for the restaurant industry, Bojangles is investing in its most important asset by closing all company-owned stores on Monday, Aug. 30, and Monday, Sept. 13, to give around 8,000 crew members and managers a well-deserved break.
Affected stores will close at their regular times the Sunday prior and reopen at their regular times the following Tuesday. For a full list of which stores will be closed on Aug. 30 and Sept. 13, go here.
“We appreciate everything our..."
Technomic Study Uncovers Labor Crisis for Foodservice Industry May Not be Temporary
Technomic recently released the Crisis on the Front Lines Multi Client Study uncovering drivers and deterrents to unit-level employment in the commercial restaurant industry among job seekers and current employees. The strategic study also uncovers strategies and tactics for operators as they navigate staffing locations and positioning their brand as employers of choice.
“Foodservice operators are facing new challenges in connecting with job-seekers while also keeping up with...
NPPC Urges Congress To Address Comprehensive Labor Reform
The U.S. pork industry is suffering from a labor shortage that could increase production costs and consumer food prices if not addressed through visa reform to provide better access to the foreign-born workers on which it depends, according to National Pork Producers Council (NPPC) President Jen Sorenson, who testified today before the Senate Judiciary Committee.
U.S. pork production is a year-round effort, requiring a hardworking and dedicated workforce on farms and in processing plants. Pork producers offer jobs with good pay and benefits...
May Retail Sales Reach Near-Record Level Despite Monthly Decline
Retail sales remained at elevated levels in May despite month-to-month fluctuations that masked near-record performance, the National Retail Federation said.
“While May retail sales were down slightly, largely due to supply chain constraints, the more accurate indicator remains in the year-over-year data which, as the NRF calculates, showed growth of over 17 percent,” NRF President and CEO Matthew Shay said. “For the first five months of this year, retail sales are already tracking 17.6 percent above the same five months of 2020, giving us further confidence in our newly revised sales forecast of growth between 10.5 percent and 13.5 percent to more than $4.44 trillion for 2021. While there are downside risks related to...
Urner Barry Releases May Soy & Wheat Report
Urner Barry Releases May Pulse Protein Report
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PLANT PROTEIN: Get to Know Players in the Plant Protein Market: Fat Badger Bakery
Urner Barry Releases April Soy & Wheat Report