Fresh Pork Prices Drift Lower as Ample Chicken Supply Offsets Pork/Beef Decline

Fresh pork prices continue to be pressured lower due to increased competition from chicken breasts at retail and seasonal decline in demand.

Highlights

• Fresh pork prices continue to be pressured lower due to increased competition from chicken breasts at retail and seasonal decline in demand.
• Market for processing items is mixed. Pork belly prices are rangebound on higher seasonal supply and ample freezer inventories. Expectations are for belly prices to be higher in Q1 as supply will seasonally decline and processors will start to build inventories for...

ANALYSIS: Shell Egg Prices Crack New Record Highs Amid Strong Demand, Depleted Inventories

The U.S. shell egg market cracked a new all-time high on Tuesday, as strong demand continues to chip away at already-low inventory levels, which have been curtailed by this year’s bird flu outbreak and, more recently, seasonal flock rotations...

Wenzel's Increases Production Capacity

Premium Meat Snack producer satisfies increased demand with additional production capacity.

Wenzel's Farm, an award winning, premium provider of high quality, hand crafted, small batch meat snacks recently completed the latest addition at their facility to meet increased demand for their snack sticks and jerky products. The new addition will provide 40% more space for production and warehousing. While continuing to grow, Wenzel's has not wavered from their commitment to handcraft their snacks with premium cuts of meat and naturally smoked products. In fact, the new expansion is still located on the original farmstead in Marshfield...

Kraft Heinz Reports First Quarter 2022 Results

The Kraft Heinz Company today reported financial results for the first quarter of 2022 that reflected strong price realization, resilient retail demand, and foodservice growth.

"Our first quarter was a strong start to the year and yet another period where our team rose to mitigate new and different macro environment challenges," said Kraft Heinz CEO Miguel Patricio. "We continue to build critical capabilities, greater corporate agility, and additional financial flexibility to address short-term turmoil while building our long-term advantage. We still have work to do, more opportunity ahead, and we remain..."

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...