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PODCAST:Executive Conference 2021: The Return To In-Person Events, Networking, And Market Analytics

This week on Market Digest our host Laura Zinger discusses the return to live events with our very own Nidha Jasrai and CEO Joe Muldowney. Topics include the "back to school" type feeling of going to an in-person event, the chance to golf with all-star athlete Bo Jackson after his keynote speaking session, and the overall superiority of networking in person.

Follow this link to register for the Executive Conference!
https://www.urnerbarry.com/executive/

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Sep 20 8:22 AM, Urner Barry



Tyson Foods Categorically Rejects Conclusions Drawn by White House

Tyson Foods categorically rejects the conclusions drawn by the Secretary of Agriculture and the Director of the National Economic Council in a White House press briefing.

The U.S. Department of Agriculture recently published a report detailing the drivers of consumer inflation in the food sector, none of which are related to industry consolidation or scale. The report can be found here.

Increase in Beef Prices due to Unprecedented Market Conditions

As we have explained in great detail to the U.S. Senate Committee on the Judiciary, in testimony provided in August 2021, which can...

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Sep 9 8:49 AM, General News


PODCAST: UK Beef Chats Episode 32

This week on UK Beef Chats we discuss continued growth in demand as the UK returns to school, colder weather beginning to set in, and businesses preparing for the holiday season. All while tackling tight supply issues and a fear of food shortages in the UK. UK beef market expert Mike Nesbitt weighs in on market conditions.

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Sep 8 3:35 PM, Urner Barry


Sep 8 3:22 PM, Urner Barry

State of the Market Episode 23: The Crab Market

This week on State of the Market, seafood market expert Janice Schreiber fills us on in the crab market. Short supply for all crab markets, how to analyze the market in COMTELL and excel, and more!

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ANALYSIS: Pondering the Potential of Frozen Hens

Now that August is in the rearview mirror, and with very little standing in the way between now and Thanksgiving, turkey market participants can’t help but speculate over the future price potential of whole-body birds...

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Sep 2 8:44 AM, Urner Barry


ANALYSIS: Pondering the Potential of Chicken Wings and Boneless Breasts

Chicken market participants and football fans alike are on the edge of their seats as we inch closer towards the first kickoff of the year...

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Aug 27 8:40 AM, Urner Barry


ANALYSIS: Turkey Cold Storage Holdings Continue Year-over-Year Thaw

The latest release of July’s Cold Storage Report underscores what many players in the turkey industry already know: That supplies are tight...

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Aug 26 8:29 AM, Urner Barry


ANALYSIS: Depleted Inventories Contribute to Boneless Breast Rally

Although the chicken market environment has been anything but consistent lately, that’s not to say that there aren’t some familiar tenets still shining through...

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Aug 20 8:21 AM, Urner Barry


ANALYSIS: Chicken Exports: It’s A Matter of Perspective

With June’s export figures hot off the press, players are turning to the charts as they reflect on the conclusion of Q2...

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Aug 16 8:27 AM, Urner Barry


ANALYSIS: Cash Hog Prices Decline from Summer Peak But Remain Well Above Year Ago Levels

The summer peak for negotiated cash hog prices on a national basis was achieved on June 22 at $128.04/cwt. Since peaking, spot prices have since declined by around...

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Aug 2 8:24 AM, UB Newswires


ANALYSIS: Frozen Turkeys Steal The Seasonal Show

It’s no secret that the majority of turkey lines are continuing to enjoy a strong showing here in early Q3. While recent market dialogue and trade activity has unquestionably gravitated towards...

 

 

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Jul 22 8:27 AM, Urner Barry


ANALYSIS: Jumbo and Select Breast Meat Values Shake Traditional Price Relationship

Over the years, close attention has been paid to the price differential between jumbo boneless breasts and select...

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Jul 9 8:37 AM, Urner Barry


ANALYSIS: Flap Meat Correcting Just as Swiftly as the Rise

During the record run in beef prices throughout 2021, gains were led by grilling items as peak demand for...

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Jul 7 8:23 AM, Urner Barry


Jul 1 2:34 PM, Urner Barry

VIDEO: State of the Market Episode 20: The Pollock Market

This week on State of the Market, Lorin Castiglione and Market Digest Host Laura Zinger discuss the pollock market. Topics include demand growing at retail, supply issues and lack of inventory, status of the fishing season and more. Lorin also walks us through the import and export information on Foreign Trade Data.

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ANALYSIS: Fresh and Frozen Turkey Drum Quotations at a Mid-Year Crossroads

As we round the corner to Q3, turkey marketers have a pep in their step and a glimmer in their eye thanks to the admirable trade environment that they’ve enjoyed throughout...

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Jul 1 8:15 AM, Urner Barry


ANALYSIS: Turkey Cold Storage Reductions Coincide with Stout Market Performance

Over the past several weeks, we've covered a number of factors which are playing an influential role in constricting the supply of just about every line within the turkey complex...

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Jun 24 8:29 AM, Urner Barry


NCBA-Won Funds Going Toward USDA Grants for Small, Independent Processors

The U.S. Department of Agriculture (USDA) announced the creation of two new, competitive grant funding opportunities for small, regional, and independent meat processors using funds the National Cattlemen's Beef Association (NCBA) worked to secure at the end of last year. After fighting hard for several key priorities for cattle producers in the Consolidated Appropriations Act of 2021, NCBA praised USDA for putting $55.2 million of those funds toward the critical need for greater beef processing capacity.

The competitive grant funding will be available through the new Meat and Poultry Inspection Readiness Grant (MPIRG) program. The funds will support small beef processing facilities making the improvements necessary to...

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Jun 23 8:27 AM, General News


ANALYSIS: Price Inflation Across All Urner Barry Indices

Price inflation remains top of mind for many. Supply constraints across all proteins combined with robust demand has...

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Jun 3 8:22 AM, Urner Barry


Beef Quarterly Q2 2021: Record Prices, but Will They Last?

Many key beef production and consumption areas across the world are currently experiencing high or record prices for beef or cattle. We explore what is driving this and whether it will last. There are also several other issues affecting global beef markets at present.

Covid-19

The rollout of vaccines, the transition to robust economic growth, and the advance of the northern hemisphere summer see many areas experiencing lower Covid case numbers and higher economic activity. With restrictions being eased, foodservice sales are also...

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Jun 2 8:21 AM, General News


ANALYSIS: Strong Demand Keeps Frozen Pork and Beef Inventories Tight 

According to the latest USDA monthly cold storage report, released Monday afternoon, frozen beef and pork stocks at the end of April remain...

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May 27 8:29 AM, UB Newswires


ANALYSIS: Turkey--Gauging Whole Bird Price Momentum

Although white meats and parts have received a great deal of attention in recent weeks as refreshed demand patterns and supply shortages carry spot prices higher, frozen whole birds have been...

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May 20 8:33 AM, Urner Barry


May 13 2:12 PM, Urner Barry

VIDEO: State of the Market Episode 17: The Pork Market

This week on State of the Market, Market Reporter Russ Barton joins host Laura Zinger to discuss all time highs for rib items, supply constraints for the pork market, and more.

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ANALYSIS: Cash Hog Pricing Surpasses Live Cattle Pricing

In an unusual turn of events, cash hog pricing is currently higher than not only the pork cutout, but live cattle prices...

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May 7 8:30 AM, Urner Barry


Pork Quarterly Q2 2021: Production Setbacks Slow Growth, Boosting Prices and Returns

Global hog prices are sharply higher in most markets, as processors scramble to find adequate supplies. Higher disease losses in key growing regions, along with the lagged impact of industry liquidation during the pandemic, have limited available hog supplies. Rabobank expects a gradual recovery in the herd, yet higher raising costs and demand uncertainty are expected to moderate the pace of growth. Lower production expectations have left the market short of pork, just as demand is beginning to strengthen. The imbalance is driving pork prices sharply higher in many markets, which is slowly being passed through to consumers, contributing to overall inflationary trends.

China: Herd losses due to new ASF outbreaks and health challenges are slowing the recovery. While below earlier expectations, the sow herd is flat vs. 2020 and will expand through year-end as...

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May 6 8:26 AM, General News


ANALYSIS: Will Chicken Ever Come Up For Air?

Fate has an interesting way of affecting the commodity markets. Chicken is arguably a frequent end beneficiary of "fate," both good and bad, and receives it in more volatile doses than...

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Apr 23 8:33 AM, Urner Barry


ANALYSIS: Turkey Production and Cold Storage-As Goes One

In recent months, the turkey complex has experienced a surprising level of price volatility, most of which has pointed towards the upside...

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Apr 22 8:31 AM, Urner Barry


ANALYSIS: Turkey Production: Changing With the Times

The turkey industry has become accustomed to not getting too comfortable in their own shoes, at least for very long. Counting on external change to...

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Apr 14 8:24 AM, Urner Barry


ANALYSIS: Cash Cattle Slow to Rise Despite Soaring Beef Prices

Around this time last year, the pandemic drastically altered consumer buying behavior due to dining restrictions and...

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Apr 9 8:30 AM, UB Newswires


Australian Beef Seasonal Outlook: Green Grass and Empty Pens

With breeding cattle inventory recovering from the lowest levels in over 30 years, there’s a unique opportunity to assess and then act on the future for the Australian beef industry. A number of challenges currently confront the Australian beef industry, including high cattle prices, low supplies, and China trade access. Australia’s position in the global protein world needs to be considered in rebuilding the herd.

Is Australia to be a supplier to high-quality niche markets, commodity supplier (of lean beef) to global trade, exporter of live cattle, or exporter of value-added beef to trade markets? “Any or all of these options may apply, but choosing one sets a path for the future. Decisions taken this year are not just about...

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Apr 9 8:28 AM, General News


ANALYSIS: Turkey Thigh Meats Get a Leg Up

With springtime now in full swing, seasonal outreach is beginning to develop...

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Apr 8 8:29 AM, Urner Barry


ANALYSIS: Pork Ribs Soar into April

Pork ribs traditionally witness a rally starting in April which extends into the summer months as increased demand for grilling reaches its peak. This year however...

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Apr 7 8:25 AM, Urner Barry


ANALYSIS: WOGS--How Quickly We Forget

It’s no secret that the vast majority of key lines within the chicken complex have performed quite admirably throughout Q1...

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Apr 5 8:28 AM, Urner Barry


Poultry Quarterly Q2 2021: The Bumpy Road to Recovery

The outlook for the global poultry industry is gradually improving, but big differences remain between countries, and global poultry trade is still very competitive. The industry is facing major challenges due to Covid-19-related market disruption, very high and volatile feed prices, avian influenza (AI) in the northern hemisphere, and volatility coming from a bumpy recovery in countries affected by African swine fever (ASF). Key for producers will be to have a very disciplined supply growth, a focus on cost reduction via procurement, production efficiency, and feed formulation, as well as being prepared for big swings in demand driven by Covid-19-related government decisions.

As countries reopen foodservice, and while their control of Covid-19 improves, the poultry industry will start to recover. On average, 35% of global poultry consumption is via foodservice. “In countries where several of these disruptive factors come together, broiler prices have risen to high levels. Some governments have started to...

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Mar 31 7:53 AM, General News


Mar 24 11:16 AM, Urner Barry Video

State of the Market Episode 13: Summer-esque Pork Highs

This week on State of the Market, Market Digest host Laura Zinger and Market Reporter Russ Barton discuss the pork market. Russ details summer-esque highs for many items including bellies and trimmings due to low cold storage supply, light slaughter levels, strong retail demand, and more.

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ANALYSIS: Frozen Tom Breast Meat Values Buck Seasonal Norm

It isn't every year that the topic of frozen tom breast meat catches the eye of market participants this early in the "season"...

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Mar 18 8:17 AM, Urner Barry


African Swine Fever: A Global Update – Ongoing Change in Global Pork Markets in 2021

African swine fever is actively influencing pork markets around the world, creating many areas of uncertainty – mainly in China, but also in Germany – which will not be resolved quickly. The implications of ASF for world pork trade are a major swing factor in global pork markets.

ASF influence on pork markets: China is the most obvious country where ASF continues to have a major influence. Its spread over winter highlights the challenges of managing this disease, and it has complicated the picture of China’s pork supply and demand. The ongoing pressure from ASF’s spread in Germany is also...

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Mar 18 8:16 AM, General News


ANALYSIS: All-Fresh Beef Retail Averages Record High in 2020

All-fresh beef retail values, the measure of prices of all beef quality grades in grocery stores as reported by the U.S. Department of Agriculture, averaged...

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Mar 16 8:26 AM, Urner Barry


Mar 16 8:21 AM, Urner Barry

VIDEO: State of the Market Episode 12: The Salmon Market

This week, Market Digest Podcast Host Laura Zinger speaks with Seafood Market Reporter and Seafood Price Current Co-Editor Janice Schreiber. Janice fills us in on seafood demand during the Lenten season, severe weather disrupting fresh market supply chains, Salmon's popularity at retail through the pandemic, and more!

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ANALYSIS: MSC Enjoys Unseasonal Updraft in Value

It isn’t often that MSC takes the spotlight, especially so early in the year before seasonal springtime demand has a chance to fully develop, but...

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Mar 12 8:22 AM, Urner Barry


Beef Quarterly Q1 2021: New Drivers in Cattle Innovation

Increasing awareness of the need to improve environmental and social outcomes, together with a growing appetite from investors in animal protein, are creating new opportunities and growth in cattle innovation.

“We believe that research and innovation in the beef industry will continue to evolve but we are currently enabled by two main catalysts that will stimulate this further. Firstly, new investors in the space and secondly, the sustainability drive that not only seeks production improvements but also creates...

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Mar 3 8:27 AM, General News


ANALYSIS: Pork Cold Storage Lingers at Low Levels

Total pork cold storage continues to linger around decade lows, creating a tight supply condition and a base layer of price support for a number of...

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Mar 2 8:23 AM, Urner Barry


PODCAST: UK Beef Chats Episode 6

This week Mike Nesbitt and Jay Alletto shed light on the UK Beef Market. UK Schools opening, tight cattle supply against...

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Mar 1 1:56 PM, Urner Barry


APHIS Reflects on 2015 HPAI Outbreak and Addresses the Importance of Biosecurity

In a recent webinar hosted by the Animal and Plant Health Inspection Service (APHIS), Dr. Dale Lauer, Dr. Rocio Crespo, and Dr. Denise Heard reflected on the Highly Pathogenic Avian Influenza (HPAI) outbreak of 2015, and steps that can be taken to protect poultry flocks going forward.

HPAI can be spread from bird to bird through direct or indirect contact with infected birds including feathers, bodily discharge, or from the equipment, hands, shoes, and clothes of caretakers. Signs of the disease include depression, decreased feed and water intake, runny eyes and nose, and swollen head. The disease can affect an entire flock and has a death rate up to...

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Mar 1 8:22 AM, Urner Barry


ANALYSIS: An Early-Year Check-up on Turkey Cold Storage Holdings

As we turn the corner into late Q1, turkey market participants are peering into the freezer to evaluate how the supply side of the equation is fending so far this year...

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Feb 25 8:31 AM, Urner Barry


PODCAST: UK Beef Chat Episode 5

This week Mike Nesbitt and Jay Alletto are joined by Joe Muldowney and Bill Smith to discuss the UK beef market. Topics include the tight cattle supply’s impact on price negotiation, social distancing at plants, and...

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Feb 22 12:35 PM, Urner Barry


A Look at Protein Demand as the Six-Week Lenten Period Begins 

As the six-week Lenten period leadup to Easter begins, foodservice and retail are catering to those who cannot eat meat at least one day a week. As SeafoodNews reported, restaurants like Bojangles, White Castle, and Quizno’s are just a few offering seafood items for a limited time.

Last year, Popeyes brought in a limited time Buttermilk Biscuit Shrimp offering for Lent. To switch things up this year, Popeyes introduced a new contender in the "Chicken Sandwich Wars," a Cajun Flounder Sandwich. But how could a new fish sandwich offering during Lent impact the chicken sandwich battle, which has become...

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Feb 19 8:25 AM, Urner Barry


ANALYSIS: Do Large Forward Sales Help Future Spot Prices -- Strip Loin Rally in 2021

The January rally in strip loins has been fierce, with gains of 27 percent so far since the start of the year, compared to...

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Feb 15 8:30 AM, Urner Barry


ANALYSIS: Don’t Sleep on Chicken Leg Quarters

With chicken front half items continuing to be the talk of the town, it’s easy to overlook the slightly less exhilarating, albeit seasonally admirable, status of frozen leg quarters...

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Feb 12 8:33 AM, Urner Barry


ANALYSIS: Boneless Chicken Breasts in the Crosshairs

One of the first things that any Econ student quickly gets acclimated with is how the quantity of a given commodity that manufacturers want to sell and the quantity of consumers who wish to buy, interact with one another...

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Jan 29 8:32 AM, Urner Barry


ANALYSIS: The Tug of War Between Chicken Wings and Boneless Breasts

During October of last year, we explored the growing price disparity between jumbo boneless breast quotations and jumbo-sized whole wings...

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Jan 22 8:41 AM, Urner Barry


ANALYSIS: Frozen Turkey Drums Continue to March Forward

Turkey marketers are welcoming 2021 with open arms thanks to the relatively admirable set of early-year trade conditions...

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Jan 7 8:23 AM, Urner Barry


Cal-Maine Foods Reports Second Quarter Fiscal 2021 Results

Cal-Maine Foods, Inc. reported results for the second quarter of fiscal 2021 (thirteen weeks) and twenty-six-week period ended November 28, 2020.

Net sales for the second quarter of fiscal 2021 were $347.3 million, an 11.5 percent increase compared to $311.5 million for the second quarter of fiscal 2020. The Company reported net income of $12.2 million, or $0.25 per basic and diluted share, for the second quarter of fiscal 2021, compared to a net loss of $10.1 million, or...

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Jan 6 8:54 AM, General News


ANALYSIS: Turkey Cold Storage: A November to Remember

With November in the rear-view mirror, the time has finally come for turkey market participants to peer into the freezer and assess...

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Dec 24 8:23 AM, Urner Barry


PODCAST: An Economic Point of View - Will Sawyer of CoBank

This week on Market Digest Laura speaks with CoBank Lead Protein Industry Analyst, Will Sawyer. Will brings his expertise to the plate as they discuss holiday demand for protein items, protein supply, the beef complex, corn and soy inflation, and...

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Dec 8 11:22 AM, Urner Barry


ANALYSIS: Australian Beef and Veal Exports to USA Hit Record Low in November

This week the Australian Department of Agriculture (DAFF) reported total beef and veal shipments to the United States at...

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Dec 4 8:20 AM, Urner Barry


ANALYSIS: Cash Cattle Prices Could See Pressure in Q1

Boxed beef prices appear to be seasonally topping after staging an impressive rally throughout November. Although some primals continue to be...

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Dec 3 8:20 AM, Urner Barry


COVID-19 Impacts the Turkey Market this Thanksgiving 

As coronavirus restrictions continue to impact our daily lives, it seems the holidays will be no exception. Retail and foodservice attempted to adapt to these unprecedented changes this Thanksgiving, by promoting deals with smaller birds or meals that feature turkey items instead of a whole bird.

Restaurants like Denny’s brought back its family-style Turkey and Dressing Dinner Pack, which included a carved turkey breast and sides portioned for four people. Cracker Barrel added multiple holiday meal options to the menu, with Thanksgiving meal offerings that serve...

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Dec 2 8:22 AM, Urner Barry


ANALYSIS: Power Move Setting Up In the Beef Cutout Behind Retail Strength

There has been a recent broad-based surge in the boxed beef market. Strength in ribeyes, tenderloins, chuck rolls, and...

 

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Nov 20 8:30 AM, Urner Barry


ANALYSIS: Weighing in on Turkey Drums

With much of the turkey industry now focused on satiating whole-body bird demand, supply side tightness, particularly within...

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Nov 19 8:23 AM, Urner Barry


ANALYSIS: Medium and Jumbo Boneless Breasts: Straying From the Traditional Price Spread

Historically speaking, medium-sized boneless breasts have enjoyed a clear-cut premium over their jumbo-sized counterparts...

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Nov 6 8:37 AM, Urner Barry


ANALYSIS: Turkey Drums Find Their Rhythm

With November now upon us, whole body turkeys are commanding much of the seasonal spotlight, however...

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Nov 5 8:37 AM, Urner Barry


Pilgrim's Pride Reports Third Quarter Financial Results

Pilgrim’s Pride Corporation reports third quarter 2020 financial results.

Third Quarter Highlights

  • Net Sales of $3.08 billion.
  • Net GAAP Income of $33.4 million. Adjusted Net Income of $161.7 million or adjusted EPS of $0.66 excluding $110.5 million DOJ agreement.
  • Consolidated Operating Income margin of 3% with Adjusted Operating Income margins of 6.7% in U.S. excluding DOJ agreement, 18.4% in Mexico and 3.5% in Europe.
  • Adjusted EBITDA of $305.0 million, or a 9.9% margin, 18% higher than a year ago.
  • Faced with the global Covid-19 pandemic, we continue to be guided by...
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Oct 29 8:39 AM, General News


Rabobank: Pork Quarterly Q4 2020: Export Concentration a Potential Long-Term Risk

Global pork demand rebounded following Covid-19 disruption in most geographies, yet supply remains constrained in many Asian markets. This imbalance continues to support strong export demand from the rest of the world, resulting in sharply higher pork values.

Globally, processors’ ability to respond also remains constrained by labor availability, which limits packer capacity and efficiency. In Europe, new African swine fever (ASF) outbreaks add further limitations. “Hog producers face a challenging outlook, given rising feed costs, weaker economic trends, and slower export growth as China...

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Oct 27 8:25 AM, General News


ANALYSIS: What’s Going On with Tom Breast Meat?

It’s safe to say that Thanksgiving and the whole bird centric activity which typically...

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Oct 22 8:11 AM, Urner Barry




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