The Retail Rundown: Tuning in to Turkey

Retail promotions for seafood continue to dominate the protein category this week, capturing nearly a third of ad circular space (32 percent). Beef and pork follow, taking up 23 percent and 21.3 percent, respectively. Chicken is up slightly from the previous week at 16 percent. Egg ads held steady at about 3 percent.

Several items were featured at lower prices compared to 2023 last week, with chicken leg quarters averaging $1.55 per pound, 5 cents cheaper than last year. Fresh pork loin prices were down by 2 percent...

The Retail Rundown: Eggs Rule the Roost During Baking Season 

As October reaches its midpoint, many homes are filled with the irresistible aromas of freshly baked goods, marking the onset of the holiday baking season.

This seasonal shift benefits the egg case as eggs find their way into breads, cookies, pastries, pies, and more. Also, more consumers are reaching for hot breakfasts as the weather turns colder, which further boosts egg demand.

Data from Circana shows that the average retail feature price for large, white Grade A eggs averaged $3.72 per dozen last week...

ANALYSIS: US Pork Exports Rise 6.2% Year-Over-Year in August, Led by Central & South American Gains

On Wednesday, the USDA released their August import/export trade data. The latest report reveals mixed results for U.S. pork exports in August. While overall exports saw a slight decline of 1.1% compared to July, they continued to increase by 6.2% year-over-year.

Notable success was achieved in Central America, where exports surged by 5.9% from the previous month and a remarkable 31.3% from last year, driven by strong demand in Costa Rica, Nicaragua, Panama, Honduras, and Guatemala...

Introducing Canada Packers Inc.

Maple Leaf Foods Inc. (Maple Leaf Foods or the Company) today unveiled that Canada Packers Inc. (Canada Packers) will be the future name of the new pork company once it completes the previously announced separation of its pork business as a new independent, public company.

“We are thrilled to launch Canada Packers as the new name for our future independent pork company,” said Dennis Organ, President of Maple Leaf Foods’ Pork Complex and incoming CEO of Canada Packers. “This choice reflects our deep respect for the history and legacy of this iconic...

For a Limited Time, Enjoy the Boldly Irresistible Taste of HORMEL® Pepperoni in a Fun, New Shape

The makers of HORMEL® Pepperoni are excited to announce the launch of HORMEL® Pepperoni Confetti — a bold, innovative shape that brings even more irresistible flavor to your favorite dishes. This limited-time product is set to revolutionize pizza night and elevate snacks for every occasion.

HORMEL® Pepperoni Confetti stands out with its unique ribbon shape, designed for even distribution across a pizza and allowing for maximum pepperoni goodness in every bite...

Brazil Pork Exports Grow 7.3% in September

Brazil's pork export volume for September 2023 reached 120,400 tonnes, a 7% increase year-on-year, according to data from the Brazilian Animal Protein Association (ABPA). This marks the second-highest monthly export volume on record, following July 2023’s peak of 138,300 tonnes.

Export revenue rose at an even faster pace, jumping 16% to US $284 million, compared to $245 million in the same month last year. This is also the second-best revenue figure in history. The rise in average...

PODCAST: Agri-Food for Thought Ep 14 - Crisis at the Ports Cools; Pork Market Deep Dive

Bob Evans Launches All-New Breakfast Value Menu Starting at $5.99

Bob Evans Farmhouse Kitchen™ is excited to announce the launch of their all-new breakfast value menu, "Sunrise Savers," debuting today, October 3. The new breakfast menu gives guests high-quality, farm fresh dishes at affordable prices – putting more food on your table for less. The Sunrise Savers menu features an array of wholesome, delicious dishes, ranging from farmhouse classics to brand new dishes designed with flavor and value in mind.

"At Bob Evans Farmhouse Kitchen, our goal is to excite our...

How a Port Strike Could Ripple Through the Ag Sector

The port strike has entered its third day and the United States Maritime Alliance (USMX) has signaled that they are willing to resume negotiations with the International Longshoremen's Association (ILA), but without preconditions made by the union. 

In an update provided Wednesday, USMX stated: "Reaching an agreement will require negotiating – and our full focus is on how to return to the table to further discuss these vital components, many of which are intertwined. We cannot agree to preconditions to return to bargaining – but we remain committed to bargaining in good...

Live Updates: Key Developments in the East and Gulf Coast Port Strike

October 3: The port strike has entered its third day and the United States Maritime Alliance (USMX) signaled that they are willing to resume negotiations with the International Longshoremen's Association (ILA), but without preconditions made by the union. 

In an update provided Wednesday, USMX stated: "Reaching an agreement will require negotiating – and our full focus is on how to return to the table to further discuss these vital components, many of which are intertwined. We cannot agree to preconditions...

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...

IHOP Is Bringing Weekends to the Weekdays to Celebrate the New Value-Driven House Faves Menu

Today, IHOP® announced it’s bringing the weekend to the weekday by inviting guests to enjoy its new House Faves menu every Monday through Friday from 7am-10pm, for just $6. IHOP prides itself on listening and reacting to guest feedback quickly; knowing customers are constantly looking for more ways to save when dining out with their families, the brand curated its House Faves menu with some of its best-selling breakfast items for guests to enjoy for just $6...

Pork Dynasty Inc. Recalls Ready-to-Eat Fried Pork Skin Products 

Pork Dynasty Inc., a Houston, Texas establishment, is recalling approximately 469 pounds of ready-to-eat fried pork skin products due to misbranding and an undeclared allergen, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today. The product contains soy, a known allergen, which is not declared on the product label.

The following products are subject to recall, regardless of the product date [view labels]:

• 3.5-oz. plastic bags containing “TEXARONES BORN IN THE PHILIPPINES – MADE IN TEXAS FRIED OUT PORK FAT...

ANALYSIS: Mexico’s Livestock Trade Deficit Persists Amid Volatile USD:MXD

The Grupo Consultor de Mercados Agrícolas (GCMA) reported that Mexico's livestock trade balance remains in deficit, driven by increasing domestic prices that spurred record beef and pork imports. Between January and July 2024, meat imports totaled 1.67 million tonnes, a 6.3% increase from the same period in 2023.

Homero García de la Llata, president of Mexicos National Confederation of Livestock Organizations (CNOG), pointed out that several problems and weaknesses are affecting livestock farming in Mexico. These include low productivity, limited financing, and a lack of innovation and technology....

The Makers of HORMEL® BLACK LABEL® Bacon Introduce OVEN READY™ Thick Cut Bacon

The makers of HORMEL® BLACK LABEL® Bacon are committed to pushing the boundaries of bacon innovation, and today, the brand is once again revolutionizing the category with the launch of its latest patent-pending product: HORMEL® BLACK LABEL® OVEN READY™ Thick Cut Bacon with Oven Safe Tray. This first-of-its-kind product brings the convenience of fully cooked bacon while offering a mess-free, easy-to-prepare option for bacon lovers everywhere...

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%...

7-Eleven, Inc.'s Laredo Taco Company Celebrates National Taco Day and National Quesadilla Day

7-Eleven, Inc.'s Laredo Taco Company® is rolling out special offers on fan-favorite Mexican fare in honor of National Quesadilla Day on September 25 and National Taco Day on October 4. Laredo Taco Company, 7-Eleven's Mexican restaurant, is known for its authentic flour tortillas made fresh every day and its salsa bar featuring a wide selection of salsas and pico de gallo.

To celebrate National Quesadilla Day on September 25, Laredo Taco Company is offering...

O’Charley’s Rolls Out the Red Carpet with New V.I.P. Menu and Expanded Core Menu Featuring Prime Rib

O’Charley’s Restaurant + Bar is excited to announce the launch of its new Value Inspired Plates (V.I.P.) menu on September 23. With 15 budget-friendly items all priced at $12.99 and under, guests can enjoy incredible flavors and great value without breaking the bank. Who says being a V.I.P. has to come with a big price tag?

As a V.I.P., you’re invited to indulge in a variety of delicious dishes that deliver both value and flavor...

Laoban Doubles Retail Footprint, Expanding Into Major Conventional Retailers

Laoban, the Asian frozen food brand known for using high-quality ingredients to make mouth-watering dumplings and bao buns, has doubled its retail distribution by adding 6,000 points of distribution.

In the past month alone, Laoban launched its dumpling line in thousands of Walmart and Kroger stores. The company also increased the distribution of its new Bao Bun, now available at Sprouts nationwide. Beginning next month, one Bao Bun flavor will also be available at over 200 Target locations across the country. Laoban will also release another exclusive product...

ANALYSIS: Pork Cutout Continues its Gradual Decline

The pork cutout value has been steadily decreasing since the end of July, closing at $93.24/cwt on September 13th. This decline, while aligning with historical seasonal trends, represents a 12.1% decrease since July 29th and a slight dip below last year’s value. The decrease in value can be attributed to a combination of factors, including increased production levels, which are currently 2.4% higher than this time last year.

The week of September 16th saw a continuation of this downward trend, with the total cutout value falling 4.2% below...

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...

ANALYSIS: Pork Exports Surged to 10-Year Highs in July

The USDA's latest pork import/export report reveals a robust trend in U.S. pork exports, reaching a decade-high volume of 566,659 thousand pounds in July 2024. This marks an 8.1% increase from the previous month and a significant 12.3% year-over-year growth.

Mexico, a key trade partner, saw a substantial increase in U.S. pork imports, with a 25.6% month-over-month and 25.9% year-over-year surge, potentially driven by HPAI restrictions impacting US poultry exports, which has since begun to ease... 

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%...

Red Lobster Emerges from Bankruptcy, Officially Names New CEO

Red Lobster has closed the book on its bankruptcy and enters a new era with a new captain at the helm.

The seafood restaurant chain announced its exit from Chapter 11 bankruptcy and the completion of its acquisition by RL Investor Holdings LLC. The firm also officially announced Damola Adamolekun as its new CEO.

Earlier this month, a federal court approved Red Lobster’s bankruptcy plan, paving the way for RL Investor Holdings to snatch up the company and keep its over 500 locations in operation, along with the...

Dearborn Sausage Company, Inc. Recalls Wiener Products Due to Misbranding and Undeclared Allergens

Dearborn Sausage Company, Inc., a Dearborn, Mich. establishment, is recalling approximately 1,944 pounds of ready-to-eat (RTE) wiener products due to misbranding and undeclared allergens, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today. The labels of the two products implicated in the recall were inadvertently swapped resulting in soy, a known allergen, and pork not being declared on the product labels.

The RTE wiener items were produced August 7, 2024. The following...

ANALYSIS: US Pork Bone-in Hams See Second-Highest Daily Trade Volume Recorded

When analyzing USDA Pork Ham 23/27 volume traded on the negotiated market for September 10, 2024, a total of 4,902,759 pounds of bone-in hams were traded. This marks the second-largest daily volume ever recorded for bone-in hams, with data tracing back to 2013. The largest volume remains 223,534 pounds higher, recorded on January 16, 2023.

This year, UB 23-27 Bone-in Ham prices tested 2022 levels in mid-August but have since trended lower, remaining below the...

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: Pork Production Reaches 3-Year High in August

Federally inspected pork production has maintained the highest levels in the last 3 years going into the final week of August. According to the USDA Federally Inspected Pork Production Weekly Report, published on August 31^st, production volumes reached 509.7 million pounds. This represented a 3.8% increase from the same period last year and 2.9% above the three-year average. This summer's peak production number occurred in mid-August, reaching 527.1 million pounds, a significant 4.4% increase above the three-year average...

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.  

Papa Johns Announces PepsiCo as its Beverage Partner in North America

Today, Papa John's International, Inc. announced its selection of PepsiCo as its exclusive beverage supplier for restaurants in North America through a 10-year contract renewal. The extension of this partnership showcases the brand's ongoing commitment to deliver exceptional value to its customers and franchise partners by offering quality products that customers expect.

The partnership will also underscore the brand's strategy by supporting Papa Johns marketing efforts through additional investment from Pepsi, while also encouraging North American development expansion through incentives to drive new store growth...

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...

ANALYSIS: July's Pork Cold Storage Figures Released

The latest installment of the July USDA Pork Cold storage report, released on August 23^rd, shows total frozen stock values continue to trend lower by 4.5% compared to this same time last year and 19.4% below the 10-year average. Effects of increased demand during the third and fourth quarters of 2023 from regions impacted by Prop 12 implementation in July to January of last year, continue to impact volumes for frozen stocks despite elevated slaughter levels throughout the summer. 

Cuts such as trimmings, bellies, butts and ribs were among the items...

ANALYSIS: Rising Hog Slaughter and Market Supply

As of yesterday's close, the year-to-date total hog slaughter reached 82,805,400 head, marking a 1.2% increase compared to this same period last year, which stood at 81,790,000 head, according to the USDA’s Federally Inspected Hog Slaughter figures.

The data indicates that 2024 has seen higher weekly hog slaughter numbers, particularly at the beginning of the year due to winter weather disruptions that backlogged hogs, and from June to August, surpassing levels from the past two years as well as the three-year average...

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)...

USMEF Chair Sees Potential for U.S. Red Meat in Indonesia

USMEF Chair Randy Spronk joined a team of representatives from the Indiana Soybean Alliance (ISA) to meet with prospective buyers and study market opportunities for U.S. soybeans and red meat in Indonesia. USMEF member ISA, which has developed strong trade relationships providing soy protein in Indonesia, coordinated with USMEF staff on the day-long event.

USMEF ASEAN Director Sabrina Yin and Indonesia Representative Arrofi Satrio Alam set up a meet-and-greet for the ISA group with Indonesian meat importers and presented a...

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...