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ANALYSIS: Chicken Index Product of Unprecedented Market Influencers

Over the past year, there have been very few stones left unturned as the industry and observers of it have navigated their way through unprecedented times. Presently, the chicken market is experiencing...

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Apr 15 8:37 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


COVID-19 Disruptions Create New Areas of Opportunity and Risk for the Poultry Industry 

Covid-19 is disrupting the business in ways the global poultry market had never planned for, creating new areas of opportunity and risk. The impacts of Covid-19 are spread very unevenly between regions and between companies.

“Company leaders and investors need to constantly review market conditions and adjust company positioning to optimize growth and returns. There will be bigger differences between winners and losers, which will lead to a process of accelerated capital investments, consolidation, and internationalization in the coming years,” according to Nan-Dirk Mulder, Senior Analyst – Animal Protein.

Rabobank has identified three stages of Covid-19’s impact on the global poultry industry...

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Feb 23 8:26 AM, General News


Urner Barry Releases February Soy & Wheat Protein Report

In December 2020 farmers experienced yet another consecutive month of increased prices for their soybean and all-wheat crops. Average all wheat prices rose $0.19/bu from November while average soybean prices rose a similar $0.20/bu. February front month futures, on the other hand, took a marginal dip from...

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Feb 11 8:20 AM, Plant Protein


UB Consulting: Foodservice in Hindsight and Into the Future

Many predictions made back when the pandemic began became true for the protein industry. From the immediate assumption of a demand shift from foodservice to retail, or the...

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Feb 1 8:24 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


Poultry Quarterly Q1 2021: A Perfect Storm in 1H, Initial Recovery in 2H 2021

After the big disruption caused by Covid-19 in 2020, the poultry industry will face additional challenges in 2021, especially in 1H. Covid-19 will place ongoing pressure on foodservice and trade, and the consequent slow economic growth will lead to more price-driven market conditions. As market fundamentals appear challenging for 2021, the poultry industry should prepare for a tough year.

“Looking forward, we see four main challenges for the global poultry industry: ongoing Covid-19 impacts on markets, high and volatile feed prices, China’s African swine fever recovery, and...

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Dec 22 8:19 AM, General News


Understanding Price Risk Management: an Interview with Stable

Urner Barry sat down with Richard Counsell to understand more about Stable’s business and the help they are providing the industry with their risk management tools. Growing up with a farming background in the southern UK, Richard spent his early career managing both commodity and technology focused businesses in London, Chicago and Melbourne. As the CEO of Stable, Richard currently divides his time between London, Minneapolis and Bermuda, expanding Stable's global platform to match complex commodity risks with simple financial solutions.


1. For the readers who have not yet heard of Stable, can you give a quick summary of your business?

Stable offers customizable price risk management tools across untraded, non-futures based agricultural markets. Our aim is to...

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Dec 18 9:05 AM, Urner Barry


ANALYSIS: WOGs - A Year in Review

With 2021 right around the corner, chicken market participants are taking a step away from the day-to-day to assess how the year has shaped up...

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Dec 18 6:55 AM, Urner Barry


ANALYSIS: Chiming In on Chicken Leg Quarters

Those with exposure to chicken back half items are no stranger to this year’s uninspiring and highly volatile trade environment...

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Dec 11 12:50 PM, Urner Barry


ANALYSIS: The Ups and Downs of This Year’s Chicken Hatch

It has been a topsy turvy year for the chicken industry to say the least. Between highly volatile retail and foodservice demand patterns, the enduring inconsistencies in...

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Oct 30 8:29 AM, Urner Barry


A Snapshot of Plant-Based Protein Growth Amid the Pandemic 

 

Alternative protein markets, and those specifically utilized in the production of plant-based meat analogues, continue to boon as a result of COVID-19 economic implications. Primarily used to produce beef-like substitutes, products from companies like...

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Oct 1 8:21 AM, Urner Barry


Rabobank's Poultry Quarterly Q4 2020: The Challenge of Balancing Volatile Markets 

Moving through Q4 2020 and into 2021, the global poultry industry will operate in a volatile market context, with pressure coming from foodservice and wholesale markets. Possible new waves of Covid-19 will add to the market ups and downs, and the impact of a deep economic crisis will make markets more price-driven.

“Over the whole year, we expect a slight increase in global poultry production, mostly as a result of poultry expansion in China and Vietnam, where African swine fever has reduced pork availability, and also from expansion in the US. The rest of the world will be...

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Sep 29 8:23 AM, General News


China Declares War on Waste in Food Catering

Ongoing anti-food waste campaigns in China aim to reduce food loss in catering. Although China seems to have no immediate worries about food shortage, the coronavirus pandemic, the geopolitical turmoil, and the escalating trade tensions with leading exporters have the potential to restrict China’s access to edible oil and protein meals. China is highly dependent on these imports, often in the form of oilseeds, which are then domestically processed.

Based on Rabobank’s analysis, eliminating waste in food catering (including restaurants, group dining and food deliveries) could make up to 5% of the nation’s soybean imports (5m metric tons) and 6% of the palm oil imports (0.4m metric tons) unnecessary. In addition, 10m metric tons of feed grains, mostly corn, could also be ‘saved’ this way. As China’s corn is experiencing...

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Sep 29 8:22 AM, General News


Storm Impacts U.S. Corn Market

A derecho wind storm swept across the US Midwest on August 10, affecting millions of cropland acres in Iowa and surrounding states. At the same time, the western part of Iowa experiences a drought. The storm caused and/or will cause significant local/regional price volatility, quality issues, and storage challenges for this year’s Iowa corn crop. Local and national impacts vary greatly due to large stocks and bumper corn crops in states bordering Iowa and beyond. The derecho and the ongoing drought have put a bottom in the market and point to higher corn prices than the USDA’s projections for the 2020/21 crop year.

Derecho Crosses the Entire US Corn Belt

On August 10, a derecho storm ripped across the Midwest, travelling 770 miles in 14 hours from South Dakota to Ohio. The worst damage was reported in Iowa, where the USDA reported that 57 counties, representing 14.0m acres, incurred...

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Sep 8 9:16 AM, General News


ANALYSIS: Turkey Cold Storage: Traversing Along a Bumpy Seasonal Path

The latest release of the USDA’s Cold Storage Report not only helps to speak to the solid supply positioning of major turkey lines, but it also highlights...

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Aug 27 8:21 AM, Urner Barry


Rabobank's Poultry Quarterly Q3 2020: Fragile Recovery After COVID-19 Storm

The global poultry industry is recovering from a storm that hit in 1H 2020, and the outlook is gradually improving. Poultry demand will be more bullish in 2H, as Covid-19 containment measurements are eased, lifting demand through foodservice.

Poultry demand is expected to improve in 2H. The biggest market driver will be the economic downturn, making global markets more volatile and price driven. Such conditions are generally positive for poultry, being the cheapest meat protein with a short and flexible production cycle.

Prices will see some recovery after historic lows in 1H. Breast meat should benefit from the reopening of foodservice, although trade will...

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Jul 23 8:21 AM, General News


Rabobank Poultry Quarterly Q3 2020: Fragile Recovery After COVID-19 Storm

The global poultry industry is recovering from a storm that hit in 1H 2020, and the outlook is gradually improving. Poultry demand will be more bullish in 2H, as COVID-19 containment measurements are eased, lifting demand through foodservice.

Poultry demand is expected to improve in 2H. The biggest market driver will be the economic downturn, making global markets more volatile and price driven. Such conditions are generally positive for poultry, being the cheapest meat protein with a short and flexible production cycle.

Prices will see some recovery after historic lows in 1H. Breast meat should benefit from the reopening of foodservice, although...

Full Story »
Jul 7 8:18 AM, General News


ANALYSIS: Pork Butts See Significant Pressure After Memorial Day

Substantial pressure continues to be noted throughout the fresh pork complex with bone-in butts seeing considerable losses in just...

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Jun 5 8:10 AM, Urner Barry


ANALYSIS: A Bird’s Eye View of YTD Chicken Production

With mid-year just around the corner, this week we thought it would be a good opportunity to investigate how chicken headcount and average live weights are stacking up against...

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May 29 8:23 AM, Urner Barry


The Trip Back to 'Normal' Slaughter Levels

Tuesday, May 26th, was a relative milestone for the hog industry as of late. The day’s kill was estimated at 405,000 head, the first time daily slaughter reached the 400,000 mark since April 17th. While this is a small victory, it is a victory nonetheless for an industry that has seen a precipitous drop in chain speeds due to COVID-19. The last time hog slaughter was near ‘normal’ was the week ended April 18th. Just two months ago, the industry achieved the largest daily hog slaughter on record at 500,879 head. As worker absenteeism and plant shutdowns disrupted chain speeds drastically during the last week of April, daily kill dropped to as low as 267,367 head, nearly 47% off its peak. 

It has been a slow but steady climb back to ‘normal’ slaughter levels. The improvement in production capabilities during the latest five weeks has helped nudge last week’s kill to over 2 million head. Early indications for this Saturday’s slaughter are pushing... 

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May 27 10:49 AM, UB Newswires


PODCAST: What's Shakin with Bacon? Volatility in the Pork Market

Russell Barton joins the show (from a distance) to discuss the unprecedented volatility in the pork market due to COVID-19. This segment covers retail, foodservice, unemployment, exports, and more...

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May 26 12:00 PM, Urner Barry


ANALYSIS: Seasonal Draw, or Supply Side Flaw?

As the immediate shock of COVID-19 begins to subside, market participants look to the stats in an attempt to...

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May 15 8:16 AM, Urner Barry


PODCAST: Scrambling for Eggs? Volatility In the Egg Market

This week Laura returns to the show to discuss the volatility in the egg market due to Covid-19 with Brian Moscogiuri. They cover supply issues, retail demand, typical seasonal factors, and more... 

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May 12 10:03 AM, Urner Barry


ANALYSIS: Coping with Production Excesses

From the slowdown in foodservice and QSR buying outreach, to plant worker absenteeism and even some inclement weather being thrown into the mix, chicken processors have...

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Apr 24 8:20 AM, Urner Barry




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