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Fresh Pork Prices Trend Lower and Bellies Fail to Catch Up
The highest hog slaughter since early January and the increase in supply pressured pork prices lower overall, with retail product seeing the biggest impact.
Steiner and Company produces the Profit Maximizer report on behalf of National Pork Board based on information we believe is accurate and reliable. However neither NPB nor Steiner and Company warrants or guarantees the accuracy of or accepts any liability for the data, opinions or recommendations expressed.
Highlights- Hog slaughter last week was the highest since early January and the increase in supply pressured pork...
MGP Offers New Proterra® Plant-Based Crumbles for Foodservice Industry
MGP Ingredients, Inc., announces the launch of Proterra® Crumbles, a line of chef-seasoned plant-based protein crumbles developed for foodservice operations. Ready to serve in just minutes, Proterra pea protein crumbles can help cafeterias meet growing consumer demand for plant-based foods that are both flavorful and satisfying.
Proterra's global-inspired flavors –Zesty Chimichurri and Savory Barbacoa, with more flavors under development – are the basis for versatile dishes that can be served throughout the day.
The new product line is MGP's first for the foodservice channel...
Restaurant365 Data Reveals Increase in 2022 Mid-Year Sales
Restaurant365, the leading all-in-one restaurant enterprise management software, reported that demand remained strong for restaurants in the second quarter of 2022, citing a 12% increase in its customers' sales from Q1 to Q2, despite the challenges of inflation and rising food costs.
"As economists discuss a potential economic slowdown, restaurants may not yet feel impacted because their sales continue to grow," stated Tony Smith, CEO and co-founder of Restaurant365. "A decline is still a very real possibility, so now is the best time for restaurants to take action..."
Beyond™ The Original Orange Chicken™ is Back By Popular Demand at Panda Express® for a Limited Time
Panda Express®, the largest family-owned and operated Asian dining concept in the U.S., is pleased to announce the return of its breakthrough innovation, Beyond™ The Original Orange Chicken™. Now available nationwide for a limited time while supplies last, this delicious entrée is co-developed with Beyond Meat® to capture the irresistibly crunchy texture and flavor of The Original Orange Chicken®, while giving guests the flavor they know and love as a plant-based option...
Global Pork Quarterly Q3 2022: ASF, Inflation, & Policies Challenge Growth While Trade Odds Rise
Global pork trade should pick up in the second half of 2022. A slight easing of feed costs and resilient consumer demand are improving market prospects. Still, challenges to growth remain as African swine fever continues to spread and inflation impacts trade policies.
Feed and energy costs are offering a break, but not quite relief. Feed input prices have softened in some markets but are expected to stay relatively strong for the rest of 2022. This will lessen the pressure on producers to some extent...
Poultry Quarterly Q3 2022: Bullish Outlook With Strong Demand and Big Operational Challenges
The outlook for the global poultry industry for 2H 2022 is bullish, despite significant cost pressures and other operational challenges.
Demand is strong, with most countries open after adopting ‘living with Covid’ strategies. This is pushing up poultry demand, while global pressure on spending power and high food prices are also leading consumers toward the lowest-priced meat protein: poultry.
The biggest challenge for the industry is on the operational side. Feed and energy prices are higher than they have been in many years...
Pent-up Demand for Restaurant Dining in Canada Continues in April
Canadians made 75 million more foodservice visits in April compared to a year ago
Canadians made 75 million more foodservice visits this April than last year when most of the country was still in lockdown, reports The NPD Group. Online and physical visits to restaurants and other commercial foodservice outlets increased by 18% in April 2022 compared to a year ago, although still 10% below the pre-pandemic level in April 2019. Consumer spending at foodservice outlets, which reflects higher food and operational costs, is...
USMEF Spring Conference Examines Strong Global Demand Tempered by Growing Economic Challenges
The U.S. Meat Export Federation (USMEF) Spring Conference got underway Wednesday in San Antonio, attracting a diverse range of participants including pork, beef, lamb, corn and soybean producers, as well as packers, processors, exporters and traders from throughout the United States.
USMEF Chair Mark Swanson, who recently founded food safety consulting firm Tru Grit KGMS Enterprises LLC, welcomed attendees and urged them to take the opportunity to visit one-on-one with a strong contingent of USMEF’s international staff from Asia, Mexico...
Tyson Foods CEO: Beef Prices Driven by Strong Demand, Constrained Production and Record Inflation
“It’s a question of basic supply and demand,” says King.
A combination of market forces, including consistently strong demand for finished beef, constrained production due to labor shortages caused by the global pandemic, and record inflation, have been driving current beef prices, Tyson Foods President & CEO Donnie King says in prepared testimony delivered to the U.S. House Agriculture Committee. The testimony was presented in advance of a hearing on Wednesday.
King makes the following points in his testimony:
- As with nearly...
ADM to Meet Fast-Growing Demand For Alternative Proteins with Significant Capacity Expansion
ADM, a global leader in nutrition, announced today that it will invest approximately $300 million to significantly expand its Decatur, Illinois, alternative protein production, as the company continues to add capacity to meet strong demand growth. ADM will further enhance its alternative protein capabilities by opening a new, state-of-the-art Protein Innovation Center, also in Decatur.
“The global trends of food security and sustainability are driving structural changes in the food industry, including strong growth in alternative proteins, and we’re investing to ensure ADM..."
Dave & Buster's is Bringing Back the Famous Eat & Play Combo for a Limited Time
Dave & Busters, the ultimate restaurant & entertainment destination, announced today its incredibly popular Eat & Play Combo returned on Monday, March 28th to more than 140 locations nationwide. With the Eat & Play Combo, guests get a Game Card and an entree for only $19.99.
"You'll always get a great entertainment experience at Dave & Buster's, but this April, with the Eat & Play Combo, you'll get that winning feeling at an amazing price," said Brandon Coleman III, SVP & CMO of Dave & Buster's. "We believe everyone could really use more..."
ANALYSIS: Shell Egg Prices Crack New Record Highs Amid Strong Demand, Depleted Inventories
This Week in Retail: Seasonal Trends Start to Shift
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Urner Barry Releases August Emerging Plant Protein Report