ANALYSIS: Australia's 1H 2024 Beef Exports Grew 25.7% Y-o-Y, June Volumes Highest Since 2019

Australia’s beef and veal exports surged to 601,408 mt in the first half of 2024, data from the Department of Agriculture, Fisheries, and Forestry (DAFF) indicated. This marked a robust 25.7% increase compared to the same period last year.

Year-to-date (YTD) volumes grew by 123,030 mt buoyed by high Australian production levels. This growth underscores the timely outcome of herd rebuilding efforts initiated since 2021.

This export increase has primarily been fuelled by a supply shortage in the US caused by ongoing...

ANALYSIS: Lower Tenderloin Prices Weigh Down Loin Primal Value Amid Grilling Season

Loins typically garner the bulk of attention at this point on the calendar within the boxed beef market. Grilling season is in full swing and the 4th of July holiday is on the horizon. In 2024, we have seen the loin operate in quite a different fashion when compared to last year. As of June 24, Urner Barry’s Choice loin beef cutout value sits at $4.25/lb., roughly 10% below the same time last year. While a few items are lagging behind last year’s levels...

ANALYSIS: Divergent Pricing Strategies for Mexican Export Short Loins

The Mexican export market has shown contrasting positions regarding the negotiation of short loin prices with the U.S. market. On one hand, some sellers have chosen to negotiate material at lower prices, responding to the historically seasonal decline in short loin prices starting in June and avoiding the risk of holding material that could depreciate even more in the future. On the other hand, there is an opposing stance that directly responds to current market trends. Observing the U.S. boxed beef market, short loin prices have shown a...

Hard Rock Cafe's World Burger Tour Competition Lets Guests Try Five New, Culturally Inspired Burgers 

Starting tomorrow, in honor of Hard Rock International Founders' Day, Hard Rock Cafe® locations around the world will debut five locally developed, culturally inspired burgers on the menu for the limited-time return of the World Burger Tour competition. Things are heating up this summer at Hard Rock Cafes where guests can enjoy:

• Bengaluru Burger: 7 oz steak burger, American cheese, sweet & spicy pickled mayo, black bean corn salsa, roasted jalapeno, guacamole, shredded lettuce - a creation of Hard Rock Cafe Bengaluru, India...

ANALYSIS: The Domino Effect, Herd Reduction Impacts Beef Markets

As we begin to work through the back half of the year, there have been quite a few interesting trends to unfold through the first 6 months within the boxed beef markets. It is no secret that the U.S. beef herd has been in a contraction phase for some time within both the fed and non-fed sectors of the beef market. This has become most evident when you look at cow & bull slaughter figures year-to-date, which are down nearly 10% already...

ANALYSIS: Coarse Grinds Heat Up as Warmer Weather Ignites Grilling Season

As the Memorial Day holiday has come into view, coarse grinds have begun to showcase some seasonality which have been largely absent previously. Data shows 81% of coarse grinds increased nearly 27% year-to-date, 7% below the 5-year average. This is partially skewed due to the years of COVID-19 in the mix, particularly in 2020.

As weather has improved across the United States, grinds have slowly reappeared in the spotlight, encouraging buyers with incentives to return to the market as grilling season is set to begin...

ANALYSIS: Export Volume Challenges for Mexican Beef End Cuts

Throughout 2024, beef export levels from Mexico to the United States have been relatively low compared to previous years. This trend is largely attributed to the exchange rate, as the strength of the Mexican peso against the dollar has led to higher prices of Mexican items. Consequently, even though there is sustained demand for Mexican beef in the US, Mexican producers have been constrained in their ability to allocate beef for export, since sales in the Mexican domestic market are more profitable. This situation is particularly evident with end cuts...

FSIS Issues Public Health Alert for Ground Beef Products, Possible E. Coli O157:H7 Contamination

The U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) is issuing a public health alert for ground beef products that may be contaminated with E. coli O157:H7. FSIS is issuing this public health alert to ensure that consumers are aware that these products should not be consumed. A recall was not requested because the products are no longer available for purchase.

The raw ground beef items were produced on March 28, 2024. The products have a...

ANALYSIS: Prudent Buying Takes Hold in Boxed Beef Market as Risk Premiums Limit Forward Bookings

Through just over two months, the USDA’s Weekly 22-90 Forward Delivery Period report has showcased a significant dip in load counts when compared to recent years. For example, compared to last year, the load counts are down by 7.4% and counts are also approximately 20-percent below the five-year average.

Sellers have played an aggressive hand with pricing out front particularly in February as uncertainty continues to mount, the aggressiveness comes amid a margin battle as packers battle rising...

ANALYSIS: Deciphering Ground Chuck Retail Prices in Today's Market

On a year-over-year basis, the Consumer Price Index (CPI) reached its COVID-era peak registering at 9.1% in June 2022. Although it has since moderated, the latest data from the USDA reveals that U.S. consumers are allocating the largest proportion of their disposable income to food since 1991, with 11.3% spent in 2022.

This heightened focus on food prices prompts a closer look at discounted Ground Chuck pricing at retail outlets. To conduct a comprehensive analysis, Circana's pricing data was adjusted to account for inflation...

Valley Meats, LLC, Recalls Ground Beef Products Due to Possible E. Coli O157:H7 Contamination

Valley Meats, LLC, a Coal Valley, Ill. establishment, is recalling approximately 6,768 pounds of raw ground beef products that may be contaminated with E. coli O157:H7, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today.

The raw ground beef items were produced on December 22, 2023. The following products are subject to recall [view labels]:

• 12-lb. box package containing “ANGUS GROUND BEEF PATTIES” with product code 1208PL, Run No. 3356GRDB...

Scanga Meat Company Recalls Ground Beef Products Due to Possible E. Coli O103 Contamination

Scanga Meat Company, a Salida, Colorado establishment, is recalling approximately 563 pounds of ground beef products that may be contaminated with E. coli O103, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today.

The raw ground beef products were produced on December 11, 2023. The following products are subject to recall [view labels]:

• 6-lb. plastic tubes containing “It’s a treat to eat Scanga Meat OUR REGULAR GROUND BEEF” and may have lot code 3345...

ANALYSIS: Ribs Pushing Higher in Typical Seasonal Fashion – But Still Not at Recent Spreads

With beef production down 5.2 percent through October 13, product availability has become a large concern for high-quality middle meats, ribs and tenderloins in particular.

Market participants in the Certified Angus Beef and upper two-thirds arena are becoming much more proactive around procurement this year when it comes to these items. Last week Urner Barry reported full steady to firm tones in the CAB rib category, while tenderloins were the lone item in the loin complex to move higher on limited supplies and active...

Freddy's Hits Milestone with 500th Location Opening in Burleson, Texas

Fast-casual restaurant concept Freddy's Frozen Custard & Steakburgers® announced today the opening of its 500th restaurant, located at 608 SW Wilshire Blvd in Burleson, Texas. This significant milestone underscores Freddy's accelerated growth since its inception in 2002 and emphasizes how strongly the concept has resonated in each of the markets it serves.

"As we celebrate this milestone, I am filled with an overwhelming sense of pride and gratitude. Reaching 500 locations was made possible first and foremost through the commitment of our passionate franchise partners, which we believe...