Global Pork Quarterly Q4 2022: Producers Cautious as Global Uncertainties Rise

Demand uncertainties rise as consumers face mounting pressures. With inflation outpacing wage growth, lower real wages are expected to negatively impact protein consumption in Q4 2022 and 1H 2023.

Value-conscious consumers are already seeking out lower-value cuts, trading down from branded to private label alternatives at retail, and limiting foodservice purchases, adding further weakness to premium product markets. Holiday sales will test the market’s resilience and its ability to absorb premiums. Lower GDP growth expectations in 2023 will limit market needs, slow herd-rebuilding efforts, and impact...

Retailers Say New Biofuel Levels Will Drive Up Food Prices

The National Retail Federation today said biodiesel levels set by the Environmental Protection Agency for this year are too high and will drive up inflation for already high food prices, especially processed foods that rely on food oils from crops like soybeans.

“For more than a year, we’ve alerted the EPA and the administration about the shortage of food oils, which is causing significant disruptions throughout the supply chain and raising food costs for consumers,” said David French, NRF’s senior vice president for government relations and executive director of...

U.S. Ports Set New Record for Imports

Imports at the nation’s major retail container ports set a new record this spring and are expected to see near-record volume this month as retailers bring in merchandise ahead of rising costs and further supply chain issues, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“Retailers are importing record amounts of merchandise to meet consumer demand, but they also have an incentive to stock up before inflation can drive costs higher,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold...

Bojangles to Give Away $1 Million in Free Gas

Bojangles, the legendary Southern food chain known for its chicken, biscuits and tea, is giving away $1 million in free gas to help customers offset the rising cost of fueling up their tanks.

Beginning today until supplies run out, every purchase of a Bojangles Family Meal – featuring 12 or 20 pieces of bone-in chicken, plus scratch-made biscuits, choice of home-style fixins and Legendary Iced Tea® – will come with a $10 gas gift card.

“Southerners are known for being friendly neighbors, so as a Southern..."

What Gas Prices Mean for Restaurants

Starting last spring, prices across the board began to rise as sharp increases in demand for goods and labor intertwined with supply chain disruptions. No particular industry, product or service has been spared by rising costs which have been passed along to consumers. The rate of consumer inflation continued to rise to a 7.9% annual increase in February, the largest jump since 1982, according to the Bureau of Labor Statistics.

Foodservice menu prices have also been skyrocketing in this environment, driven by higher raw material and labor costs. Despite this, consumers have continued to...

Beef Quarterly Q1 2022: Strong Demand but Cost Headwinds Prevail

Global beef markets remain tight. Ongoing strong demand and more limited supplies have kept global beef prices high. But cost pressures are flowing into the supply chain.

Over the past two years, retail beef price movements have been phenomenal, driven largely by strong consumer demand and some supply shocks. In many cases, this increase in prices was caused by demand pull. With supply unable to keep up, the increase in demand has created an imbalance in the market and as a result beef prices have lifted...

Consumers Pull Back on Purchasing as Retail Prices Remain Elevated, Reports NPD

U.S. consumers have started to pull back on discretionary general merchandise purchases, but average selling prices continue at the pandemic’s elevated levels. Unit sales declined in excess of 8% for six consecutive weeks following the holiday shopping season, when compared to a year ago, according to The NPD Group. Despite higher prices, these unit declines kept retail sales revenue performance marginal, at best. The one exception so far in 2022 has been the pre-Super Bowl and Valentine’s Day week, ending February 12, which saw a...

NCC Responds to Latest New York Times Attack on Chicken Producers

The National Chicken Council today released the following statement in response to a New York Times Opinion video attacking U.S. chicken production and advocating for increased food costs:

“The New York Times Opinion video, “The True Cost of Cheap Chicken,” is a vegan propaganda piece whose goal is to make meat more expensive, as clearly articulated in the final line of the video, “Chicken should be $6 a pound, not $1 a pound.” The activist group behind the video, Mercy for Animals, spends tens of millions of...