November 16, 2018

Today's News Summary:

Headlining the news today, in its annual Outlook reports, which analyze the prospects for more than 15 agricultural commodities, meat and seafood, Rabobank says that while the global food price environment remains relatively stable, ongoing geopolitical tension, the threat of El Niño weather system and diseases affecting livestock bring great uncertainty to the outlook for 2019.

China's agricultural ministry confirmed on Friday the first outbreak of deadly African swine fever in the southwest province of Sichuan, the country's top pig-producing region, raising the likelihood of a major impact to pork supplies in coming months. In addition, China's efforts to stem the spread of African swine fever were dealt a fresh blow when it found the first case in a wild boar, deepening a three-month-old crisis for the world's top pork producer.

In other news, twice as many people will purchase groceries online this holiday season vs last, according to a survey by RichRelevance. Amazon dominates as the top online grocery destination for shoppers (57%), followed by big-box retailers such as Walmart and Target (48%). Traditional supermarkets like Safeway and Kroger will attract a significant – but quite smaller – number of online shoppers (30%) this holiday.

Buying opportunities for turkeys at retail have more than doubled since last week, currently claiming 16 percent of total protein features. Average regional ad prices for frozen turkeys range from $0.49 to $1.49 per pound, with the national average running 9 cents per pound below a year ago. This, of course, does not include additional promotions such as spending incentives for free or greatly reduced turkeys—which are prevalent as grocers will use turkey as a loss leader to drive store traffic. Read the latest on This Week in Retail.

Jennie-O Turkey Store Sales, LLC is recalling approximately 91,388 pounds of raw ground turkey products that may be associated with an illness outbreak of Salmonella Reading, the U.S. Department of Agriculture’s Food Safety and Inspection Service announced today. The products subject to recall bear establishment number “P-190” inside the USDA mark of inspection. These items were shipped to retail locations nationwide.

Finally, heavy chicken weights are displacing light bird production. Read the latest analysis from the chicken market here.

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