Expana Publication Schedule for the Thanksgiving Day Holiday

Expana will be observing the Thanksgiving Day holiday on Thursday and Friday, November 27 and 28, which will impact the publication of some Expana Benchmark Prices. All US offices will be closed on those days; daily reports (red meat, poultry, eggs) will not be published, and the following weekly, biweekly, and monthly reports will be impacted:

• Pork, US Pork Export Market to Mexico and Latin America, will be published on Wednesday, November 26
• Beef, APAC, will be published on Wednesday, November 26
• Beef, Certified Angus Beef, will...

ANALYSIS: New Zealand’s Oct 2025 Beef Exports Hit Five-Year Trough as Output Cuts Back

New Zealand’s beef exports in October 2025 fell to the lowest level in five years, shedding for the fifth straight month at 25,581 metric tons (mt), according to the latest data from Stats NZ.

Sinking to the lowest level since October 2020, outbound shipments fell another 4.9% month-on-month (MOM) or 1,314 mt lower.

The decline was driven by lower shipments to the United States (US), China, Japan, and Korea, while shipments to Canada and the United Kingdom (UK) recorded strong gains...

ANALYSIS: The Evolving US Tariff Landscape and Implications for Brazilian Beef

Recent tariff policy changes in the US reshaped market conditions for Brazilian beef suppliers. Earlier in the year, Brazil had faced a sharp slowdown in beef exports to the US after reciprocal tariffs were introduced. In the latest policy changes last week, the US announced new reciprocal trade frameworks across Central and South America and selected Asian markets. Initially, Brazil remained subject to the separate 40% additional tariff, which was also lifted later in the week, fully aligning Brazil with the new tariff-free conditions. 

Brazilian fresh beef exports...

ANALYSIS: US Clod Tender Chaos, 2025 Blows the Roof Off Beef Pricing Records

The Choice clod tender has maintained record highs in 2025 compared with previous years, reaching a seasonal peak above $11.00/lb. Even after softening from mid‑October into late November, the current value near $9.32/lb remains well above the same period in 2022–2024, underscoring a firm pricing environment. This year’s price trajectory is a clear outlier, driven by active demand and notably constrained supplies. 

Seasonal trends remain intact across the years shown: prices typically build through late spring and summer before easing into fall. In 2025, that familiar pattern is...

ANALYSIS: Fall Pork Supply Review - Slaughter Strength and Cutout Reduction

The weekly carcass cutout shows a clear and uninterrupted decline beginning in early September and extending through Friday’s close on 11/21/25, with values retracing steadily from a late-summer rally, which saw the cutout at 3-year highs, marking the seasonal decline for 2025 commencing much later than in previous years. Since the first week of September, the downturn has been gradual but persistent, shaped by fully adequate product availability, softer domestic demand, and a measured export pull that has not generated the counter-seasonal lift typically observed during this timeframe...

North Carolina Turkeys, Gobble and Waddle, Pardoned by President Trump

WASHINGTON — National Turkey Federation (NTF) Chairman Jay Jandrain, president and CEO of Butterball, LLC, presented the National Thanksgiving Turkeys named Gobble and Waddle to President Donald Trump today during the 78th National Thanksgiving Turkey Presentation. After receiving their formal pardons from the president in the White House’s Rose Garden Club, Gobble and Waddle will return to North Carolina to live at North Carolina State University in Raleigh...

USDA Welcomes Nevada into State Meat and Poultry Inspection Program

U.S. Secretary of Agriculture Brooke L. Rollins today announced that Nevada has met USDA’s rigorous "at least equal to" food safety standard and will be joining the State Meat and Poultry Inspection (MPI) Program. Nevada’s participation expands local inspection capacity, food safety oversight, and boosts market access for small and very small processors. This vital partnership builds on USDA’s recently released suite of actions to strengthen the American beef industry.

“We are strengthening the backbone of America’s food system by forging true partnerships with states and empowering local producers,” said Secretary Rollins. “Today’s action builds on our commitment to deliver clear, accountable food safety standards and support small...

ANALYSIS: Turkey Breast Prices Break Correlation Pattern

In the turkey market, there is a disconnect between the value of breast meat and bone-in breasts. During November, the five-year average price difference between fresh tom breast meat and 8-10 lb. institutional-sized breasts hovers between $3.39 and $3.42. This year, the difference for the week prior to Thanksgiving sits at $5.18, 51.5% higher than the five-year average.

While one might be tempted to think lower institutional-sized breast prices are contributing to this large price spread between the two items...

ANALYSIS: New US Imported Beef Tariff Landscape Effects Ahead of 2026 

On Thursday November 20, the White House signed an order to remove the 40% tariff on a variety of Brazilian agricultural products, which included beef. This announcement came after reciprocal tariffs were lifted on November 13, allowing other major beef exporters like Australia, New Zealand, Nicaragua, Argentina, and Uruguay to no longer contend with an extra 10-18% tariff depending on the origin.

US domestic beef prices have reached record highs as cattle supplies in the region are lower given the cyclical nature of cattle supply...

Chipotle Names Josh Weinstein to Its Board of Directors

Chipotle Mexican Grill today announced a new addition to its board of directors, Josh Weinstein, effective immediately.

Josh Weinstein has served as Chief Executive Officer and as a member of the Board of Directors of Carnival Corporation & plc, one of the world's largest leisure travel companies, since 2022. During his over 20-year tenure with Carnival Corporation & plc, he served as its Chief Operations Officer from 2020 to 2022; President of Carnival UK from 2017 to 2020; Treasurer from 2007 to 2017; and as an attorney in the corporate...

PODCAST: Agri-Food for Thought Ep 37 - Thanksgiving Dinner Index Up 28% in 2025 

Expana presents Agri-Food for Thought, the podcast series for agriculture and food professionals.

On today's episode, we dive into Expana's 2025 Thanksgiving Dinner Index. 2025 has been an extraordinary year. When we look back, we’ve seen unprecedented geopolitical events unfold, tariffs, trade agreements, inflation and other economic uncertainties. How has this impacted Thanksgiving staples? Listen now!

Nebraska Cattlemen Disappointed by Tyson Foods' Beef Processing Plant Closure in Lexington

The Nebraska Cattlemen Board of Directors released the following statement in response to Tyson Foods’ announcement it will permanently close the beef processing plant in Lexington: 

“We are disappointed by Tyson’s decision to permanently close the Lexington beef processing facility – especially in light of today’s USDA data indicating that Nebraska cattle-on-feed inventories remain slightly above year-ago levels in spite of the ongoing cyclical tightness in overall U.S. cattle numbers. We firmly believe there isn’t a better place to efficiently and economically raise cattle and produce beef than Nebraska. As this...

China Pushes Back Beef Anti-Dumping Probe to January 26

China’s anti-dumping investigation into imported beef will be extended by another two months until January 26, 2026, according to the China’s Ministry of Commerce (MOFCOM). 

Initially scheduled to conclude in August 2025, the investigation timeline was first extended by three months to November 26 “due to the large workload and complex case,” the ministry stated on August 6. 

MOFCOM began the investigation on December 27, 2024, following a request from China’s Animal Agriculture Association and nine industry associations representing major beef-producing areas...

Navigating the Trump Tariff Turbulence: A Comprehensive Timeline

US President Donald Trump and his administration have paused reciprocal tariffs on most countries.

“Based on the lack of respect that China has shown... I am hereby raising the [tariff] charged to China by the [USA] to 125%, effective immediately,” wrote Trump on Truth Social at 1:18 pm ET. 

It’s not clear if this 125% is in addition to the 20% imposed on Chinese imports to the US. In early March, Trump noted that he would add another 10% tariff on Chinese goods...

ANALYSIS: US Choice Chuck Flap at a Record High

Chuck flap is an item that can be cooked in many ways. Most of the time, this cut is slow cooked but can be used in high-heat cooking depending on its intended use. On the East Coast, specifically the New England area, consumer buying interest is driven by dishes that include steak tips, which favor the slow cooking method. 

I bring up these cooking methods because recently the Choice chuck flap reached a record high. This is due to increased demand for the cut, specifically driven right now by buying interest from market...

ANALYSIS: WOG Prices Turn Upward Despite Values Lagging Behind Past Norms

3-lb. to 3.5-lb. WOG prices are entering the seasonal period where values typically firm into the end of the year. The historical pattern is clear: November and December routinely post some of the highest pricing of the calendar year as consumer behavior shifts around holiday shopping. Families spend more time outside the home and lean heavily on convenience foods like rotisserie chickens or deli-prepared eight-piece fried chicken. The consistent bump in retail and food service pull has historically translated into a reliable lift on whole chicken markets. Over the past five seasons, the average increase...

ANALYSIS: Comparing Cage-Free Demand This Thanksgiving to Last

Cage-free wholesale values continued to rise this week as Thanksgiving baking demand surged across retail channels. Large national chains have maintained affordable shelf pricing through November, driving strong consumer sales as households prepare for the peak baking period. At some of these chains, cage-free eggs are positioned below $1.50/dozen—an uncommon and striking inversion that puts them roughly 50cts below conventional shelf prices in many other regions. In effect, shelf prices are trending lower than they were heading into Thanksgiving last year, supporting consistent foot traffic despite ongoing pressure on household budgets...

USDA Update on Coordinated Federal Response To Protect United States From New World Screwworm

The U.S. Department of Agriculture (USDA), in close collaboration with our interagency partners and Mexico’s El Servicio Nacional de Sanidad, Inocuidad y Calidad Agroalimentaria (SENASICA), has made considerable progress in reducing the overall threat of New World screwworm (NWS) to U.S. agriculture and mitigating northern movement of the fly within Mexico. As of November 21, NWS has not been detected in any animals or traps in the United States, and the vast majority of cases within Mexico remain concentrated in southern parts of the country. The Trump Administration remains steadfast in its resolve to safeguard America’s rural economy...

Serving Holidays with a Side of Chaos: Dr. Seuss's The Grinch Meal Is Coming to McDonald's

CODE PICKLE: Dr. Seuss's The Grinch has successfully slipped into the Golden Arches and on Dec. 2, he's unleashing The Grinch Meal. The meal, made in partnership with Dr. Seuss Enterprises and McDonald's, will be available at participating restaurants nationwide for a limited time, while supplies last. His diabolical culinary debut features Dill Pickle "Grinch Salt" McShaker Fries, arriving for the first time in the U.S.

Sprinkle the tangy, dill pickle seasoning into the McShaker bag and shake for a bold...

Container Trades Statistics is Tracking Towards a Record-Breaking Year

Revised figures for August 2025 now show global liftings at 16.8 million TEUs, marking the highest monthly volume ever recorded in the CTS database. This new record surpasses the 2nd previous high set in July 2025 by more than 220,000 TEUs.

As expected, September 2025 volumes eased month on month, falling 5.6% from August’s exceptional levels. Despite this decline, global volumes for September still reached a solid 15.86 million TEUs, representing a 5% increase compared with September 2024. This brings the third quarter of 2025 to a close with a...

Save A Lot and Forage Launch SNAP EBT Payments on Uber Eats

Forage, the mission-driven payments company, and Save A Lot, one of the nation's largest value-focused grocers, today announced that SNAP EBT is live on Uber Eats at more than 325 participating Save A Lot locations. The launch makes it easier for families in food deserts, seniors, people with disabilities, and households without reliable transportation to get groceries delivered the same day.

"As a hometown grocer, we serve many communities where full-service grocery options are limited," said...

ANALYSIS: A Long-Awaited Look at the Latest Broiler Hatch Figures

After considerable anticipation, the USDA has begun releasing updates to its hatchery report, and the latest data largely confirms what market participants have been expecting. For the week ending November 15th, broiler-type production showed mixed signals throughout October and early November. Weekly egg sets stood at 248 million, reflecting a modest 1% year-over-year (YOY) decline from 2024’s elevated levels, but still ranking among the highest seasonal readings on record.

Chick placements followed a similar pattern when compared to much of the...

ANALYSIS: Wholesale Fresh Turkey Quotations Up 31% Year-Over-Year as Supply Tightens

Fresh wholesale turkey quotations currently sit at a value of $1.77, the second-highest seasonal price on record. This is up 31.1% year-over-year (YOY) and is 10.0% above the 5-year average for this time period. Meanwhile, last week’s retail values for fresh 16-24 lbs. turkeys were only higher than those of last year at the same time, by 19.5%.

In 2024, the retail value of fresh whole turkeys was held above the wholesale value up until the week...

Pork Exports Remain Strong in August; Beef Decline Continues; Lamb Exports Trend Higher

USDA has released August red meat export data, which was delayed due to the lengthy government shutdown. As compiled by the U.S. Meat Export Federation (USMEF), August data showed a relatively strong performance for U.S. pork exports and an uptick in shipments of U.S. lamb cuts. But beef exports were sharply lower than a year ago, impacted heavily by an impasse with China that has effectively locked U.S. beef out of the world’s largest import market.

August pork exports totaled 236,311 metric tons (mt), down 1% from a year ago, valued at $685.9 million (down 2%)....

AHDB - Cautious Global Pork Market Outlook for 2026

Rabobank’s latest pork report presents a cautious global pork market outlook heading into 2026. Despite easing feed costs due to record North American crop harvests and favourable planting conditions in South America, growth remains constrained by the influence of trade tensions, disease risks, and regulatory challenges. Producers are prioritising better productivity, biosecurity, and heavier carcass weights to offset limited herd expansion.

Regional Highlights

Europe (EU-27 + UK)

European pork production increased by 3.5% year-on-year (YOY) in July 2025, led by Spain (+7%) and Poland (+5%). Exports rose 3% YOY, supported by the recent US-China trade tensions. However...

The Retail Rundown: Cheaper Turkeys Hit Shelves Despite Wholesale Price Surge

This Thanksgiving, holiday shoppers might spot some relief: retail turkey prices have eased, even as wholesale values climb toward near-record highs.

Ongoing challenges, such as persistent bird flu outbreaks and relatively low hatch rates, have limited production all year, leaving supplies exceptionally thin ahead of the holiday. 

While retailers secure turkeys well in advance to build cold-storage inventories, frozen whole-bird stocks in 2025 remain near seasonal record lows, leaving little supply cushion...

Americans Plan to Dine Out More in 2026 as OpenTable Reports Strong Industry Growth

OpenTable’s newly released 2026 Dining Trends Report shows that despite mixed views on the economy, Americans continue to prioritize eating out, driving steady growth across the foodservice industry.

According to the analysis, dining out increased 8% year-over-year in 2025, and consumers expect for that to increase in 2026.

"As we head into 2026, there's good news for the restaurant industry: our new research shows that people continue to make room in their lives and budgets for dining out...

Farm Bureau: Cost of Thanksgiving Dinner Declines

Cooking a Thanksgiving dinner for your friends and family will cost less than last year, marking the third straight year of price declines. The American Farm Bureau Federation’s 40th annual Thanksgiving dinner survey provides a snapshot of the average cost of Thanksgiving staples that make up a classic holiday feast for 10, which is $55.18 or about $5.52 per person.

This is a 5% decrease from 2024. Three years of declines don’t fully erase dramatic increases that led to a record-high cost of $64.05 in 2022.

The centerpiece on most Thanksgiving tables – the turkey...

ANALYSIS: US Dairy Herd Shows Continued Robust Growth

The USDA’s September data showed a pronounced expansion in the US dairy herd in the 24 selected states; an increase of 235,000 cows year-over-year was reported. This marked acceleration from recent months. That gain helped lift national herd counts well above 2024 levels for much of 2025.

Producers are driving growth by retaining higher and mid‑producing cows for additional lactation cycles and keeping back added heifers on the farm. Those retention choices reflect the push for many operations to produce more milk to...

Q3 Results Drive Foodservice Headlines in First Half of November

Major industry players across the business captured attention in the first half of the month as foodservice providers released new insights from their quarterly reports.

Many restaurants are facing challenges in the third quarter as US consumers cut back on frequent dining. This compilation provides a thorough overview of key players' performance results and the latest in the most notable company news.

QSR's

McDonald's Q3, FY 2025

McDonald's reported a 3.6% increase in global same-store sales for the third quarter, surpassing analysts' expectations...

Expansion and Menu Innovations Lead in Foodservice this Week

This week, Expana gathered a collection of headline-worthy news, showcasing the vibrant and constantly evolving world of foodservice. From strategic expansions to culinary innovations, these stories underscore the dynamic nature of the industry and its unwavering momentum.

International Expansion on the Horizon for TGI Fridays

TGI Fridays is gearing up for significant international growth, announcing two master franchise agreements today. In India, USR Hospitality (USR) will develop 51 new locations, while Mid-City Operadora Sapi de CV (MCO_Mexico) is set to open 50 new outlets in...