Impact of the EU-Mercosur Agreement on EU Beef Market

After 25 years of negotiations, the European Union (EU) and the Southern Common Market (Mercosur), comprising Brazil, Argentina, Uruguay, and Paraguay, reached a landmark free-trade and cooperation agreement on December 6, 2024. In 2023, EU agri-food exports to Mercosur totalled €3.2 billion, and the new EU-Mercosur Free-Trade Agreement aims to substantially increase these exports by removing high tariffs on key EU export products. The following article examines the potential impact of the deal on the beef market...

Potential Impact of a Government Shutdown on USDA Reports

With a potential government shutdown looming, U.S. Department of Agriculture (USDA) data on livestock and meat markets, along with numerous other reports and statistics, may become unavailable until further notice.

As Congress races to reach an agreement before the midnight deadline to avoid a shutdown, industry stakeholders are increasingly aware of the importance of maintaining access to unbiased market intelligence to operate effectively. 

In the event of a shutdown, USDA food inspectors and federal animal care workers will remain on duty, but most other federal employees will not be at work...

Orgain Issues Voluntary Allergy Alert on Possible Undeclared Peanut Residue in a Single Batch 

OrgainExternal Link Disclaimer of Irvine, California is voluntarily recalling a single batch of its 30g Protein Organic Plant Based Powder - Chocolate 2.01lb because it may contain undeclared peanut residue. People who have an allergy or severe sensitivity to peanuts may run the risk of serious or life-threatening allergic reaction if they consume this product.

The recall is limited to a single batch of 30g Protein Organic Plant Based Powder - Chocolate 2.01lb and was distributed nationwide both in retail stores and online...

Threat of Further US Port Strikes Looms Over International Shipping

Ongoing discord between the International Longshoremen’s Association (ILA) union and the employers’ representative the United States Maritime Alliance (USMX) threatens to further disrupt international freight, as the potential for renewed strike action at US ports looms ahead of a mid-January contract negotiations deadline.

Major shipping firm Maersk issued a statement on December 19  advising customers to prepare for further strike action, “It is possible that the ILA will again begin a coast-wide strike on January 16. As the January 15 deadline approaches, we recommend that customers make...

Deep Global Recession May Start in Spring 2025, Warns Expana

The global economy today shows some parallels to past pre-recession periods. A world PMI below 50, elevated asset prices, for instance, are indicators of a slowdown in business activity.  

Furthermore, rising tariffs, protectionist policies, or geopolitical disruptions could exacerbate trade slowdowns. Consumer spending is also paramount since it accounts for a significant portion of GDP. Monitoring retail sales, credit card usage, and savings rates will be critical.   

With the global economy facing a myriad of challenges and uncertainties, the likelihood of a recession...

ANALYSIS: U.S. Chicken Exports in October Trail at Five-Year Lows

The total volume of chicken exported in October was up from September, but just barely. This was especially evident in comparison to the 5-year average month-over-month (MoM) change. This October there was a 0.1% MoM increase in the total volume of chicken sold to international buyers in the U.S., a far cry from the 12.6% 5-year average.

Interestingly, the top three destinations pulled much larger volumes than they typically do in October, while the amount of production going to many of the...

FDA Updates “Healthy” Food Definition for US Food Products

Officials from the FDA updated the organization’s definition of the word “healthy,” according to an FDA constituent update. 

A food product’s packaging can bear the word “healthy” if the food adheres to specified limits for saturated fats, sodium, and added sugars. Additionally, “healthy” food contains “at least one of the food groups or subgroups (such as fruits, vegetables, fat-free and low-fat dairy, etc.) recommended by the Dietary Guidelines,” according to the FDA’s new definition. 

For example, a “healthy” grain product should not contain more than 5% saturated fat...

US Department of Labor Announces Settlement with Amazon 

The U.S. Department of Labor today announced that the Occupational Safety and Health Administration and Amazon have entered into a corporate-wide settlement to help better protect employees from hazardous working conditions leading to serious lower back and other musculoskeletal disorders at Amazon facilities. The settlement agreement resolves the department’s multiple ergonomics cases against Amazon.com Services LLC, in the first major multi-site investigation brought by OSHA in over a decade.

The parties had been scheduled to begin trials in 10 cases before the Occupational Safety and...

Darden Restaurants Report Strong Q2 Results with 6.0% Sales Growth

Darden Restaurants reported a 6.0% increase in total sales for Q2 which ended November 24, reaching $2.9 billion, with same-restaurant sales up 2.4%.

Olive Garden generated $1.292 billion in sales, LongHorn Steakhouse brought in $710.1 million, and the company’s Fine Dining segment earned $306 million.

In addition, Darden’s Board of Directors declared a quarterly cash dividend of $1.40 per share on the company’s outstanding common stock.

"We had a strong quarter and I am pleased that our four largest brands...

Teamsters at Sysco Houston Authorize Strike

Over 430 drivers, warehouse workers, and mechanics represented by Teamsters Local 988 have voted overwhelmingly to authorize a strike after Sysco failed to present an acceptable contract offer.

"Nothing our members are demanding is unreasonable," said Robert Mele, President of Local 988. "These workers want what everyone in this country deserves: fair wages, quality health care, and a secure retirement. If Sysco refuses to get serious at the bargaining table, we are ready to hold them accountable for their greed."

The Teamsters represent more than 10,000 workers at Sysco...

Michael C. Creedon Jr. Elevated to Permanent CEO of Dollar Tree After Successful Interim

Dollar Tree has announced the appointment of Michael C. Creedon, Jr as its permanent Chief Executive Officer. The board agreed unanimously on this promotion citing that Creedon had earned their trust and respect and that they had confidence in his ability to guide the company’s growth and success.

Creedon joined Dollar Tree in 2022 as Chief Operating Officer. He was appointed interim Chief Executive Officer in November succeeding Rick Dreiling and has since led more than 200,000 associates and more than...

EU Retail Egg Market Thrives Amid Festive Season Surge

With Christmas just a few days away, the industrial egg market has slowed considerably, with demand expected to remain subdued until mid-January. Several breaking stations have taken advantage of this lull to perform routine maintenance on their machinery.

In recent weeks, industrial shell egg prices have been slowing down, following their peak in late November. Currently, values for cage egg averages 2.05 €/kg, reflecting a marginal drop of 0.04 €/kg from the previous week. However, prices are still 24% higher than this time...

Lamb Weston Names Michael J. Smith as President and Chief Executive Officer

Lamb Weston Holdings, Inc. announced that Michael J. Smith, the current Chief Operating Officer, will become the company’s President and CEO, effective January 3, 2025. He will also join the Board of Directors. Smith succeeds Thomas P. Werner, who is stepping down as CEO and Board member but will stay in an advisory role until August 31, 2025, to ensure a seamless transition.

Smith has been with Lamb Weston since 2007 and has held various leadership positions, contributing to the company's growth...

HPAI H5N1 Virus in Dairy Cattle – What We Know

In March 2024, Highly Pathogenic Avian Influenza (HPAI) A (H5N1), commonly referred to as bird flu, was confirmed in domestic U.S. livestock for the first time in a dairy operation in Texas. Since then, the virus has spread to 866 dairy operations across 16 states, raising widespread uncertainty throughout the dairy and livestock markets. Industry participants have raised concerns about the outbreak's potential impact on consumer perception and demand for dairy and meat products, though government agencies reiterate that the national food supply remains safe. Expana is closely monitoring the situation...

BRF Enters Gelatin and Collagen Market with Gelprime Investment

BRF announced the acquisition of a 50% stake in Gelprime on 17 December, representing a BRL 312.5 million (approximately US $51 million) investment and marking the company’s entry into the gelatin and collagen market. The deal positions Gelprime as a joint venture between BRF and Viva, a Brazilian leather producer formed through the merger of Viposa and Vancouros in 2022.

Established in 2019 and headquartered in Londrina, Paraná, Gelprime holds a 2% share of the global collagen market. The company is aiming to increase this to 5%...

ANALYSIS: October U.S. Turkey Exports Below Average Amid Lower Production and Higher Prices

The total month-over-month (MoM) change in the volume of turkey exported for October was up 7.6% compared to a 5-year average increase of 15.9%. The top four U.S. turkey export destinations, Mexico, Panama, Guatemala, and Canada, all had lower export volumes this October compared to the 5-year average, while the Bahamas, the fifth largest buyer, purchased more than on average.

Likely, much of the lower-than-average volumes of turkey exported can be attributed to more limited...

ANALYSIS: US Shell Egg Prices Shatter Records Amid Bird Flu Losses, Strong Holiday Demand

US shell egg prices have surged to new all-time highs, fueled by a potent combination of avian flu-related production losses and heightened retail demand throughout the holiday baking season. Expana’s benchmark Midwest large quotation climbed to $5.47 per dozen on Tuesday, narrowly edging past the previous record of $5.46 set in December 2022.

The ongoing spread of Highly Pathogenic Avian Influenza (HPAI) has intensified since mid-October, claiming approximately 17 million layers and pullets over the past two months...

ANALYSIS: Korea's Nov 2024 Beef Imports Slump to a 9-Month Low at 33,140 mt

Korea’s November 2024 beef imports dropped to the lowest levels since February this year to 33,140 metric tons (mt), according to the latest Korea Customs Service data.

Volumes fell 29.0% or 13,557 mt month-on-month (m-o-m), marking a sharp decline from October 2024's figures, which had reached 46,697 mt, a 9-month high.

Lower tonnages from its major suppliers Australia, the United States (US), as well as New Zealand, Canada, and Mexico contributed to the shrinkage...

ANALYSIS: Proposition 12 Effect on Reporting Volumes for Pork

The USDA Pork Specialty Report, issued by the U.S. Department of Agriculture (USDA), focuses on niche and specialty pork products, offering detailed insights into pricing, volume, and market trends for categories not typically covered in broader pork market reports. These categories include specialty programs such as open pen gestation, crate-free, antibiotic-free, no-antibiotics-ever, pre-priced and labeled cuts, color-graded, breed-specific, quality-graded, and organic products.

Notably, the report began incorporating Proposition 12-compliant material in 2023...

Meat Institute Promotes Key Staff With a Collective 55 Years of Industry Experience

The Meat Institute today announced the promotions of dedicated staff due to their significant expertise, advocacy on behalf of, and experience in the meat and poultry industry. Roya Galindo, Casey Lynn Gallimore, KatieRose McCullough, PhD, MPH and Michael Schumpp have worked for the Meat Institute or in the industry for a collective 55 years.

“Meat Institute members benefit from the experience and knowledge of our staff who have chosen to make their careers in service to the meat and poultry industry,” said Meat Institute President...

The Retail Rundown: Robust Retail Spending This Holiday Season

Retail spending has been robust this year, with recent data released by the U.S. Census Bureau indicating strong retail sales as the holiday season kicked off in November.

According to the Census Bureau, overall retail sales in November rose 0.7 percent month-over-month (MOM) and increased 3.8 percent year-over-year (YOY) In comparison, October saw gains of 0.5 percent MOM and 2.9 percent YOY.

“Job and wage gains, modest inflation and a heathy balance sheet have led to solid holiday spending," said National Retail Federation Chief Economist Jack Kleinhenz...

Farm Bureau Congratulates Rep. Angie Craig on Agriculture Committee Leadership Role

American Farm Bureau Federation President Zippy Duvall commented today on the election of Rep. Angie Craig to be ranking member of the House Agriculture Committee.

“Farm Bureau congratulates Rep. Angie Craig on her nomination to serve as the next ranking member of the House Agriculture Committee. Rep. Craig has a long history of working in a bipartisan manner to advance the needs of America’s farmers and ranchers.

“Her leadership is needed now more than ever, as farmers face economic headwinds including inflation, high supply costs and...

USMEF Partners with Sam’s Club on U.S. Beef Training and Promotion in China

U.S. beef played a prominent role in the recent grand opening of Sam’s Club’s 50th retail outlet in China. In addition to sampling and promotions during grand opening events, U.S. beef was featured the previous day at a special promotional event. To publicize the freshness of chilled U.S. beef available at the store, USMEF livestreamed the fabrication of a chilled U.S. beef carcass (see section at page bottom)...

Ark Restaurants Announces Financial Results for the Fourth Quarter and Fiscal Year Ended 2024

Ark Restaurants Corp. today reported financial results for the fourth quarter and fiscal year ended September 28, 2024.

The Company’s fiscal year ends on the Saturday nearest September 30. The fiscal years ended September 28, 2024 and September 30, 2023 both included 52 weeks and the quarters ended September 28, 2024 and September 30, 2023 both included 13 weeks.

Financial Results

Total revenues for the 13 weeks ended September 28, 2024 were $43,406,000 versus $44,400,000 for the 13 weeks ended...

Scottish Cattle Prices Soar to Record Highs in November 2024

Prime cattle prices in Scotland reached historic levels in November 2024, fueled by a seasonal decline in beef production and robust demand from both domestic and international markets. The Expana price for cattle steers in Scotland hit GBP 5.5/MT, marking a 2.1% increase month-on-month (m-o-m) and 8.2% rise year-on-year (y-o-y) in November 2024.

Industry sources report heightened competition among processors, as they struggle to secure cattle supplies. Additionally, strong festive demand from the retail sector has played a vital...

Taco Bell Reimagines Chicken Nugget Experience with Tortilla Chip-Breaded Crispy Nuggets

In a world where chicken nugget loyalty runs deep, Taco Bell is daring to push the boundaries of innovation yet again with the introduction of Crispy Chicken Nuggets and a lineup of irresistible dipping sauces that's sure to challenge people's devotion to their typical favorites, available starting December 19, for a limited time and while supplies last. Entirely distinct, yet universally familiar, the tender all-white meat chicken bites are marinated in zesty jalapeño buttermilk flavor and breaded with a blend of breadcrumbs and crunchy tortilla chips to...

ANALYSIS: A Seasonal Snapshot of Choice Chuck Rolls in 2024

The Choice chuck roll has been on quite a journey this year, riding a roller coaster of highs and lows in the market. Let’s dive into where this versatile cut stands today and how it got here.

Back in late August, prices took an unexpected turn upward, defying the usual trend of softening in the back half of the month. Starting at $3.65/lb in early August, choice chuck rolls climbed an impressive 62% to its peak of $5.92/lb in October. However...

Performance Food Group Company Announces Executive Leadership Team Changes

Performance Food Group Company (PFG) is pleased to announce its board of directors has approved two changes to PFG’s leadership team. Effective Jan. 1, 2025, Scott McPherson has been promoted to President & Chief Operating Officer (COO), while Craig Hoskins will transition into the newly established position of Executive Vice President (EVP) & Chief Development Officer.

In his new role, McPherson will continue overseeing PFG’s three business segments: Foodservice, Convenience and Vistar. He will focus on the company’s growth and will be responsible for all aspects of these businesses...

Ahold Delhaize USA Names Greg Finchum as President of Food Lion

Ahold Delhaize USA has announced that Food Lion executive Greg Finchum, currently Executive Vice President, Retail Operations, will assume the role of President, in May 2025.

The appointment comes after Meg Ham, President, Food Lion, announced that she will retire in May 2025. Finchum joined Food Lion in 1989 and has been in his current role for more than a decade. He is a proven leader in delivering consistent sales growth and strong financial performance. Additionally, he has an outstanding track record of building strong...

TD Bank Survey: Restaurant Industry Anticipates Bright 2025 with Tech and M&A at the Forefront

A survey conducted by TD Bank at the 2024 Restaurant Finance and Development Conference indicated that optimism has returned to the restaurant franchise industry after years of challenges.

The TD Bank poll collected insights from 175 restaurant operators and finance professionals as they look ahead to 2025. Alongside the optimistic outlook, TD Bank noted that the adoption of digital and mobile ordering, menu creativity and higher expectations around AI were also key findings from the survey...