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Pork Cutout Futures and Options To Be Launched by CME Group
CME Group recently made the exciting announcement that cash-settled Pork Cutout Futures and Options (ticker PRK) will be available for trade on November 9, 2020. This new contract will provide additional risk management tools for traders looking to hedge their price exposure to ever-fluctuating pork cutout values.
A “cutout” is the approximate value of a hog computed using the prices paid for the various wholesale cuts of pork, including the loin, butt, picnic, rib, ham, and belly. Pork cutout values have seen tremendous volatility since the onset of the pandemic. During the first wave of panic buying in the second quarter, the USDA pork carcass cutout value based on FOB Omaha skyrocketed by nearly 116%. As the surge in retail buying subsided...
Blue Apron to Introduce First-Ever Thanksgiving Feast
Blue Apron is introducing its first-ever Thanksgiving feast, featuring chef-designed recipes created for an unforgettable, stress-free, and delicious Thanksgiving Day meal.
Known for its unique take on everyday recipes, Blue Apron's Thanksgiving-inspired, southern-style menu will give options to suit every holiday table for parties up to eight people. Complete with a step-by-step guide on how to organize, prepare, and cook a Thanksgiving meal, Blue Apron will also support its home cooks by sharing tips on its social channels to help make the holiday as fun as possible.
"Thanksgiving is going to be different for many families this year, and we're happy to join them in the kitchen by creating...
Bojangles Expands Barbecue On Its Menu
Bojangles is throwing its hat in the barbecue ring just in time for National Pulled Pork Day on October 12. New to most markets, Bojangles is now serving its Carolina-style pulled pork BBQ.
“Born and raised in North Carolina, we at Bojangles know Southern home-cooking like the back of our hand, and these hands have been busy smoking up the best barbecue in town,” said Chef Marshall Scarborough. “Just one bite of our hickory, smoked, pulled-pork barbecue will have you wanting to call it barBOcue.”
Bojangles BBQ can be enjoyed as...
Sweet Earth Foods Launches Plant-Based Bacon Cheeseburger in Foodservice
Sweet Earth Foods, a Nestlé brand and award-winning plant-based food innovator, announced the launch of their Plant-Based Triple Play, a fully plant-based bac'n cheezeburger to debut in foodservice.
The launch will debut at The University of Massachusetts Dining Program, which is the largest collegiate dining program in America and a recognized leader in campus food quality, nutrition, and innovation.
To celebrate National Cheeseburger Day (September 18th), they'll feature the Sweet Earth Plant-Based Triple Play in their Amherst location's dining halls, take-away, through...
ANALYSIS: Pork Trim Point Per Lean Comparison
Late seasonal domestic demand, export interest, lighter hog weights, and diminished availability of boning line workers have been noted as...
China and Japan Suspend Pork Imports from Germany Following African Swine Fever Case
According to the German Food and Agriculture Ministry, China and Japan have suspended imports of pork and live pigs from Germany after a case of African swine fever was confirmed in a wild boar near the Polish border in the eastern state of Brandenburg, Germany. This comes as South Korea banned imports of German pork last week.
Pork imports of 40,230 tons from Germany last year accounted for about 3.3% of Japan's total imports of pork, the ministry reported. Japan did not import any live pigs last year, down from six in 2018. China's ban on imports comes as the country deals with its own spread of the disease. German pork exports to China total about...
ANALYSIS: ASF Reported in Germany; A Look at German Pork Exports
An African Swine Fever case has been identified and confirmed in one wild boar in Schenkendöbern, Brandenburg, Germany on...
Impossible Foods Launches Plant-Based Sausage in Hong Kong
Impossible Foods is rolling out Impossible Sausage Made From Plants in Hong Kong, the first international market for the award-winning, plant-based patty.
Impossible Sausage is the company’s first all-new product since the 2016 debut of Impossible Burger. California-based Impossible Foods launched Impossible Sausage to much fanfare at the Consumer Electronics Show in January. Within six months, the patties have become available at more than 22,000 locations throughout the United States.
Starting today, Hong Kongers can buy Starbucks’ Maize Impossible Sandwich at...
ANALYSIS: Pork Offals in Cold Storage Decline as Fresh Supplies Remain Thin
The labor force continues to be stretched thin at many production plants following the wave of closures that occurred earlier in the year due to...
National Pork Board Launches Pork as a Passport Campaign
To celebrate pork’s position as a global, culturally relevant protein and offer weary home cooks in the U.S. a variety of authentic meal options, the National Pork Board has launched Pork as a Passport.
This new consumer marketing campaign elevates the at-home cooking experience by highlighting the common love for pork across a number of global cuisines. The Pork Board, and the 60,000 U.S. farmers it represents, introduced Pork as a Passport in an effort to encourage quarantine cooks to...
Beyond Meat Announces Agreement to Begin Production in China
Beyond Meat has signed an agreement with Jiaxing Economic & Technological Development Zone to design and develop manufacturing facilities in the JXEDZ, including a state-of-the-art production facility to manufacture plant-based meat products including beef, pork and chicken under the Beyond Meat brand in China. The production facilities will be located in the JXEDZ, a historic and commercially important development zone with ready access to Shanghai.
Beyond Meat, Inc. will be the first multinational company focused solely on plant-based meat production to bring its own major production facility into...
July Beef and Pork Exports Rebound, but Still Below Year-Ago
July exports of U.S. beef rebounded from recent lows but remained below 2019 levels, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). U.S. pork exports, which are on a record pace in 2020, were also down from a year ago in July but increased compared to June. July lamb exports increased year-over-year and were the largest of 2020.
“With production returning to near-normal levels, we definitely saw an improvement in beef exports, though the recovery was not quite as strong as expected,” said USMEF President and CEO Dan Halstrom. “China’s pork demand has moderated and we are also entering a time when year-over-year gains are not nearly as dramatic, as exports to China began...
Tyson Foods to Pilot Clinics to Promote Culture of Health
As part of efforts to boost the overall health and wellness of its workforce, Tyson Foods, Inc. is partnering with Marathon Health to pilot seven health clinics near company production facilities. The clinics will give Tyson team members and their families easier access to high-quality healthcare and, in most cases, at no cost.
The clinics, which will be operated by Marathon Health, will provide primary and preventive care, including health screenings, lifestyle coaching and health education, as well as behavioral health counseling. They will also collaborate with plant community health providers, including...
Urner Barry's Coronavirus Special Report - Volume IV
The global COVID-19 pandemic has disrupted consumer behavior, distribution, production, and market prices in a way we have never seen before. Now, as reopening efforts are underway, the latest business environment is a completely new venture for the food industry with its own learning curve. Both retail and foodservice have been forced to make sweeping changes in their respective sectors and adaptability remains key. Production setbacks were arguably one of the biggest challenges the meat industry faced in the last few months of the pandemic, but capacity has since largely returned to normal.
As we near the end of summer, seasonal shifts are also in play...
Outback Steakhouse Introduces New Menu Items
Outback Steakhouse is giving steak lovers something to celebrate – more options and lower prices. The steakhouse’s updated menu features innovative flavors and new dishes to please any steak lover’s palate, all at a more competitive price point.
Our team members are so excited to serve this new menu to our guests. After operating on a limited menu, we are bringing back some favorite items as well as some new additions, quality improvements and...
Wendy's Adds Pretzel Bacon Pub Cheeseburger to Menu
Wendy's is introducing the Pretzel Bacon Pub Cheeseburger. After a few years out of the pretzel-bun game and some self-reflection, the new and improved Pretzel Bacon Pub Cheeseburger is back. In between the soft pretzel bun lies a quarter pound of fresh, never frozen beef topped with Muenster cheese, three strips of Applewood smoked bacon, smoky honey mustard, warm beer cheese sauce, crispy fried onions, and pickles.
"We love working with our Culinary Innovation team to deliver on emerging food trends and flavors that customers can't get enough of," said Carl Loredo Chief Marketing Officer for The Wendy's Company. "Like we did with Spicy Nuggets, we've been watching and listening as customers have been...
ANALYSIS: Year-Over-Year Highs for Sow Slaughter
According to the June Hogs and Pigs report, intended farrowings for September-November are down 5% from a year ago, implying...
Jimmy Dean to Launch New Breakfast Products this Fall
Jimmy Dean, is bringing two new products to tables, counter tops and desks to enjoy this fall. Jimmy Dean Casserole Bites and Jimmy Dean Delights Breakfast Wraps will join the brand’s product portfolio, delivering new warm and satisfying breakfast options, no matter the morning routine.
“Breakfast plays a comforting role in people’s lives and daily routines, especially as many of us continue to navigate...
7-Eleven's 'Sips & Snacks' are Back
7-Eleven is launching Sips & Snacks 2.0 – a sequel of its 2019 in-store test which includes a new wave of food and beverages – and Californians get to be first to try them. This year's Sips & Snacks program will stock 200 7-Eleven stores in both the Los Angeles and San Diego metro areas with 84 exclusive items from a list of 25 hand-picked brands.
This special product assortment includes options for power-snackers, restricted diet-followers and anyone looking for ways to incorporate more functional, better-for-you sips and snacks to...
Faribault Foods Recalls Canned Soup Product
Faribault Foods Inc., a Faribault, Minn. establishment, is recalling approximately 15,134 pounds of canned soup product due to misbranding and undeclared allergens, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today. The product contains milk and soy, known allergens, as well as beef and pork, which are not declared on the product label.
The cans labeled as chicken noodle soup actually contain a meatball and pasta product. The canned soup items were produced on May 26, 2020. The following products are subject to recall...
Eckrich Debuts New Packaging for Deli Products in Stores Nationwide
Eckrich is introducing bold new packaging for the Deli collection which will begin rolling out in stores nationwide this month.
Through both qualitative and quantitative market research, Eckrich successfully created a design that breathes new energy into the heritage brand with a modern, approachable look, all with its key consumer top of mind. The designs feature a white background and crisp imagery, displaying the product and information in an organized, eye-catching way. The imagery also...
ANALYSIS: Price Sensitivity Dictating Mexican Ham Demand
Over the years turkey thigh meat, the primary component of turkey hams, and boneless pork hams, have shared a distinct and somewhat polarized relationship with one another...
WH Group Announces 2020 Interim Results
WH Group Limited announced the unaudited consolidated interim results of the Company and its subsidiaries for the six months ended June 30, 2020.
• Revenue increased by 12.2% to US$12,481 million• Operating profit increased by 20.9% to US$925 million• Profit attributable to owners of the Company, before biological fair valueadjustments, increased by...
Smithfield Foods' Adjusted Operating Results Swing to Loss in Second Quarter Amid COVID-19 Pandemic
Smithfield Foods, Inc. announced that it has spent $350 million to protect its team members and the American food supply during the COVID-19 pandemic, causing adjusted operating results to swing to a loss in the second quarter of 2020.
At Smithfield, the first half of 2020 was "a tale of two tapes": pre-pandemic and pandemic. Prior to the onset of COVID-19 in the U.S., Smithfield delivered record results in the first quarter of 2020, which were 190 percent higher than 2019. However, the impact of the pandemic weighed heavily on the company's second quarter, pushing adjusted operating results 140 percent below...
NPPC: COVID-19 Impact Demonstrates Need to Enhance Livestock Risk Protection Program
The National Pork Producers Council and 26 state pork associations representing thousands of American hog farmers have asked the USDA’s Federal Crop Insurance Corporation (FCIC) to implement enhancements to the Livestock Risk Protection (LRP) insurance program. These changes would mitigate the impact of unexpected declines in hog values from unanticipated events like the COVID-19 pandemic.
“The COVID-19 crisis in our farm sector has demonstrated the enormous value of an enhanced LRP,” said NPPC President Howard A.V. Roth, a hog farmer from Wauzeka, Wisconsin...
Pork Exports Trend Lower in June but Remain on Record Pace; Another Tough Month for Beef Exports
June exports of U.S. pork fell below year-ago levels for the first time this year but exports remain on a record pace in 2020, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Beef exports were down sharply from a year ago in June, reflecting a lingering impact of a temporary slowdown in beef production combined with restrictions on foodservice and weakening economies in major import markets. June lamb exports trended higher, posting the second largest totals of 2020.
“We expected that the interruptions in red meat production would continue to weigh on June exports, but anticipated more of a rebound from the low May totals – particularly for...
Merck Animal Health Acquires IdentiGEN
Merck Animal Health, known as MSD Animal Health outside the United States and Canada, a division of Merck & Co., Inc., Kenilworth, N.J., USA, today announced the completion of its acquisition of IdentiGEN, a leader in DNA-based animal traceability solutions for Livestock and Aquaculture from MML Growth Capital Partners Ireland. Specific terms of the agreement were not disclosed.
IdentiGEN’s technology combines each species’ unique DNA (deoxyribonucleic acid) and data analytics to provide an evidence-based animal traceability solution, called DNA TraceBack, to accurately and precisely trace beef, seafood, pork and poultry that is verifiable from farm-to-table.
Food producers, processors and retailers are looking for accurate and complete animal traceability solutions that provide full accountability, as well as...
Tyson Foods Reports Third Quarter 2020 Results
Tyson Foods, Inc. today reported the following results:
First Nine Months Highlights
Tyson Foods Launches New, Nationwide COVID Monitoring Strategy; Expands Health Staff
As part of its commitment to team member safety and continually evolving efforts to protect workers from COVID-19, Tyson Foods, Inc. is launching a new, industry-leading monitoring program and expanding its occupational health staff, including a new chief medical officer position.
The comprehensive COVID monitoring strategy was designed with the assistance of outside medical experts and includes ongoing, data driven COVID testing of workers without symptoms, as well as those who exhibit certain symptoms or have been in close contact with someone who has the virus.
“While the protective measures we’ve implemented in our facilities are working well, we remain vigilant about...
Seaboard Foods: 2019 Marked by "Uncertainty and Volatility" in Pork Division
In a letter to stockholders in Seaboard Corporation's annual report (see below), President and CEO Steven Bresky highlighted that 2019 was a year marked by uncertainty and volatility for the pork division, oversupply coupled with flat domestic consumption and modest export growth generally kept commodity prices at bay in the turkey segment, and the grain milling segment achieved its highest revenue year ever. See the full annual report here.
Dear Fellow Stockholders,
Despite a solid year of net earnings, 2019 was a mixed bag with disappointing operating income but excellent investment income. We began the year with a $34 million first-quarter operating loss, our worst quarterly operating loss ever. In fact, over the last twenty-five years, there have only been...
PODCAST: Urner Barry's Executive Conference and Global Protein Summit
Urner Barry's Executive Conference and Global Protein Summit is a can't miss, online event, combining two of the most important shows in the protein industry. In the lastest UB Market Digest Podcast, Laura Zinger and Brian Moscogiuri discuss why this event is going to be so valuable and what to expect....
Rabobank Pork Quarterly Q3: More Uncertainties Ahead
Covid-19 brings many uncertainties to the global pork market. With various disruptions to the supply chain, Rabobank has revised down pork production for 2020 in major producing countries.
“Labor shortages, operational suspensions, soft demand, and channel shifting will force industry players to increase automation, adopt digitalization, improve plant working conditions, streamline processing, and integrate along the supply chain in order to...
Coco's Italian Market Recalls Italian Meatball, Beef Ravioli, and Pepperoni Pizza Products
Coco's Italian Market, a Nashville, Tenn. establishment, is recalling approximately 16,868 pounds of various ready-to-eat frozen meat products that were produced without the benefit of federal inspection, the U.S. Department of Agriculture's Food Safety and Inspection Service (FSIS) announced today.
The frozen Italian meatball, beef ravioli, and pepperoni pizza items were produced on various dates from January 2019 through July 2020. The following products are subject to recall...
ANALYSIS: Estimated Pork Packer Margins vs The Pork Cutout
Estimated pork packer margins for standard operations, or outside purchasers of hogs, reached record highs in May, following the difficult period when COVID-19 resulted in...
PODCAST: Calling All Pork People - ASF, Retail Demand, Exports, and More
In this week's segment Russell Barton discusses retail demand, slaughter, exports, African Swine Fever, and COVID-19...
NPPC: Hog Farmers Urgently Need Congressional Action to Weather Crisis
U.S. hog farmers continue to face an unprecedented emergency as a result of COVID-related challenges, with an estimated two million hogs still backed-up on farms according to an analysis by Dr. Steve Meyer, an economist with Kerns & Associates. At a press briefing, the National Pork Producers Council (NPPC) described the damage exacted on hog farmers and urged Congress to act swiftly to preserve their livelihoods.
Dr. Meyer said U.S. hog farmers face massive losses due to multiple COVID-19 crisis-related factors, which have turned profit potential for 2020 from robust to disastrous. According to his analysis, based on lean hog futures prices on March 1 and July 10 and actual hog prices in the interim, potential 2020 revenue from hog sales has been reduced by roughly $4.7 billion. Other losses associated with...
Study Quantifies Value of Red Meat Exports to U.S. Corn, Soybeans
Since 2015, indirect exports of corn and soybeans through beef and pork exports has been the fastest-growing category of corn and soybean use, delivering critical returns for corn and soybean farmers. These producers support the international promotion of U.S. beef, pork and lamb by investing a portion of their checkoff dollars in market development efforts conducted by the U.S. Meat Export Federation (USMEF).
USMEF has released an updated version of the independent study aimed at quantifying the value red meat exports provide to U.S. corn and soybean producers. The original study was conducted in 2016 with updates also released in 2018 and 2019. Key findings from the latest version, which utilizes 2019 export data, include...
Pork Remains on the Menu in Spain and Italy Even if Tourists Stay Away
Spain and Italy face a miserable summer tourism season. But does this mean a terrible year for pork, too? Remarkably, Rabobank's analysis shows that decreased international tourist activity will have a limited impact on total pork consumption in these countries.
For the full year of 2020, Rabobank expects a decrease in total pork consumption of about 6% in Spain and 2% in Italy due to reduced demand in foodservice and retail. Furthermore, pork exports to Italy from major exporters, such as Germany, Spain and Denmark, are expected to remain largely unaffected by...
ANALYSIS: Pork 2020 Comparison
The first half of 2020 was highly volatile in the pork market due to a myriad of factors. While cases of ASF continued to be reported across several...
Sweet Earth Foods Debuts New Plant-Based Burgers
Sweet Earth Foods announced the release of its Awesome Bacon Burger. The new burger extends the plant-based food makers' portfolio just in time for grilling season, as nearly 40 percent of Americans are trying to eat more plant-based foods, according to Nielsen.
The Sweet Earth Awesome Bacon Burger is a smoky plant-based burger infused with vegan bacon bits. Made of textured pea protein, this plant-based burger contains 26g of protein per serving (27% DV) and is non-GMO project certified. The burger will be hitting shelves of HEB starting this week with nationwide distribution increasing over the coming weeks.
"We are so excited to announce the release of the Awesome Bacon Burger as the first-ever vegan bacon burger, proving eating plant-based can be...
First Exports of UK Beef To the USA in 20 Years Underway
A Snapshot of Plant-Based Protein Growth Amid the Pandemic
Beyond Meat to Expand Walmart Distribution
Rabobank's Poultry Quarterly Q4 2020: The Challenge of Balancing Volatile Markets
Sysco Announces Launch of New Menu Concepts
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