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ANALYSIS: Shell Egg Prices Stabilize Amid Demand Improvements, Flock Rotations
Monday halted an almost three-week correction in the shell-egg market that saw our benchmark Midwest large quotation shed 36.7% of its value. The market in recent weeks had been weighed down by sluggish retail business after wholesale values skyrocketed to a record-high of $3.40/dozen in July. As those prices trickled down to the retail level, consumer interest faded...
UB Consulting: The Rise of HPAI Cases and the Possible Effect on Egg Prices
The egg market has experienced increased volatility in pricing with the reemergence of highly pathogenic avian influenza (HPAI). The virus was first redetected in December 2021 in Indiana with a turkey flock but has now spread to various layer farms across the United States. Although producers are taking precautions, market participants fear that the outbreak may rival the impacts of the HPAI outbreak in 2015 that led to a significant supply shock...
Cal-Maine Foods Reports Third Quarter Fiscal 2022 Results
Cal-Maine Foods, Inc. reported results for the third quarter of fiscal 2022 (thirteen weeks) and 39-week period ended February 26, 2022.
Net sales in the third quarter of fiscal 2022 increased 33.0 percent to $477.5 million compared to $359.1 million in the third quarter of fiscal 2021. The Company reported net income of $39.5 million, or $0.81 per basic and diluted common share, for the third quarter of fiscal 2022, compared to net income of $13.5 million, or $0.28 per basic...
This Week in Retail: Steak Features See Boost from Warmer Weather; Eyeing HPAI
Sunday marked the official start of spring. For retailers, that means grilling season is rapidly approaching, and with it—the opportunity for increased meat sales.
Steak features surged this week, accounting for 50.5 percent of total beef ads—up 16 percentage points from the week prior. Feature volume for roasts, meanwhile, has decreased, falling from 38.2 percent last week to 23.2 percent this week.
This week in retail, the steak complex averages $8.12 per pound, up 12.8 percent from a year ago. Boneless strip steaks are widely featured at grocery outlets across the nation and average $11.68 per pound, up 36 percent from a year ago. Top sirloin steaks are up 3.3 percent YoY at $5.64 per pound while bottom round steaks clock in at $5.54 per pound, up a whopping 68.4 percent from this week last year...
Production Begins at Golden Heritage Cage-Free Egg Farm
The Cooper Farms Egg Division celebrates the opening of their new partnership farm, Golden Heritage Cage-Free Egg Farm in Western Ohio, with an inline egg grading and packing plant.
Golden Heritage will house 1.96 million egg layers and is permitted to increase to 4 million.
Located on 100 acres of land, Golden Heritage has a Fienhage Aviary Layer System, allowing the chickens to move as they please around the four-level farm.
Cage-free eggs from Golden Heritage will meet criteria to be sold in California and under all...
Cal-Maine Foods Reports Second Quarter Fiscal 2022 Results
Cal-Maine Foods, Inc. (NASDAQ: CALM) today reported results for the second quarter of fiscal 2022 (thirteen weeks) and 26-week period ended November 27, 2021.
Net sales in the second quarter of fiscal 2022 increased 12.5 percent to $390.9 million compared to $347.3 million in the second quarter of fiscal 2021. The Company reported net income of $1.2 million, or $0.02 per basic and diluted common share, for the second quarter of fiscal 2022, compared to net income of $12.2 million, or $0.25 per...
Urner Barry's New Market Briefing Provides an In-Depth Look at the Protein Trade Before the Holidays
Urner Barry is the leading provider of protein market news and information in the food industry. Through daily canvasses of the trade and an unrivaled historical database, our analysts are uniquely positioned to report on the underlying conditions and significant disruptors to the market. In this Market Briefing, Urner Barry reporters outline the latest action in the commodity protein markets, highlighting seasonal factors, disruptors, and current supply and demand fundamentals...
ANALYSIS: Shell Egg Prices Crack New Record Highs Amid Strong Demand, Depleted Inventories
This Week in Retail: Seasonal Trends Start to Shift
Urner Barry Releases September Soy & Wheat Report
Urner Barry Releases September Pulse Protein Report
Urner Barry Releases August Emerging Plant Protein Report