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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...
Hillshire Farm® Debuts Flavor-Forward Lunch Meats
Tyson Foods is turning up the flavor and bringing new energy to the lunch meat category with the launch of Hillshire Farm® Sandwich Style Lunch Meats in three bold new flavors.
Crafted to spark creativity, the new lunch meats inspire fresh...
Trump Announces US-Indonesia Trade Agreement; New Details Emerge
UPDATE: July 22, 2025 4:37 PM ET
This afternoon, US President Trump posted to Truth Social after revealing a similar 19% trade deal with the Philippines, reported Expana.
"It is my Great Honor to announce our Trade Agreement with the Republic of Indonesia, as represented by their Highly Respected President, Prabowo Subianto. It is agreed that Indonesia will be Open Market to American Industrial and Tech Products, and Agricultural Goods, by eliminating 99% of their Tariff Barriers. The United States of America will now sell American Made products to Indonesia..."
Hormel Sees Q3 Sales Growth but Falls Short on Earnings
Just before markets opened Thursday, Hormel Foods reported its third-quarter financial results, missing analysts’ estimates for the period.
The company posted net sales of $3.03 billion, with organic net sales rising 6%. Operating income totaled $240 million, while adjusted operating income was $254 million.
Earnings before income taxes reached $237 million, with adjusted earnings before income taxes at $251 million. The effective tax rate was 22.3%.
Diluted earnings per share were $0.33, and adjusted diluted earnings per share came...
ANALYSIS: Turkey Inventories Remain Tight Amid Efforts to Replenish Freezers
July’s cold storage figures continue to show lower year-over-year (YoY) inventories for all lines, highlighting the limited availability of turkey as very low volumes makes its way to the freezer. Meanwhile, July’s total month-over-month (MoM) increase in turkey in cold storage outpaced the 5-year average by approximately four percentage points, in part demonstrating the effort of many participants in the industry to replenish their frozen inventories.
The comparative MoM changes for whole birds and MST follow that of the overall data...
Perdue AgriBusiness Marks 25 Years of Innovation, Partnership & Growth at Chesapeake, VA Facility
Perdue AgriBusiness is celebrating 25 years of operations at its Chesapeake, Virginia facility, a site that has become a cornerstone of the company’s grain, oilseed, and logistics network and a vital partner to farmers across the Commonwealth.
Since opening its doors in 2000, the Chesapeake facility has grown into the only deepwater bulk grain terminal on the U.S. East Coast—and one of only two soy crush facilities on deep water in the United States. With grain storage, a soybean crush plant...
Upcoming Webinar: Forecasting the Future of Commodity Prices, Q4 2025 and Beyond
Expana invites you to a free, live webinar featuring our experts Tom Bundgaard, Vice President of Price Forecasting, and Craig Erlam, Forecast Analyst.
Join us on September 11 at 4 PM CET / 3 PM BST / 10 AM ET for a comprehensive macroeconomic briefing focused on the latest Q4 2025 commodity price forecasts and what lies ahead for 2026.
As global economic indicators increasingly hint at a potential recession, understanding the anticipated impact on commodity prices is critical for businesses
ANALYSIS: 2025 Sees Surge in Shell Egg Imports
Following one of the most significant supply disruptions in recent history, imported breaking stock has taken on a more visible role in the US egg market over the past year. During the height of HPAI-related flock losses, short supplies collided with strong holiday retail demand, drawing much of the available domestic inventory into higher-value retail and institutional channels. This left notable shortages in the further processor segment and sent domestic breaking stock values to a record $6.43/dozen earlier in the year...
ANALYSIS: July 2025 Boneless Beef Cold Storage Falls MOM While Posting Gains YOY
Boneless beef cold storage stocks stood at 357 M lbs in July, according to the latest USDA cold storage report. This figure represents a decline of 1.7 M lbs from June but an increase of 4.6 M lbs from last July.
Typically, as the large fourth of July celebration wraps up and the dog days of summer begin to approach, beef cold storage stocks begin to hit a bottom before ramping up into the fall and winter months. However, with beef supply shrinking due to...
Viva Raw Recalls Pet Food Over Salmonella and Listeria Concerns
The US Food and Drug Administration (FDA) announced a voluntary recall from Viva Raw, LLC on August 25. In the announcement, the company stated two lots of dog and cat food may be contaminated with Salmonella and Listeria monocytogenes.
Items from this recall are sold frozen, in 1 lb. bricks, wrapped in clear vacuum packaging. They include Lot codes 21495 or 21975 printed on the top. Labels include:
The Retail Rundown: Labor Day Protein Promotions at a Glance
Seafood leads Labor Day protein promotions, accounting for 27.1% of total ad volume. Pork follows at 23.2%, with beef and chicken each capturing about 22%. Retail buying opportunities for turkey held steady at 3.5%, while promotional activity for shell eggs remained limited.
Back-to-school demand has provided fair to fairly good retail support for eggs, according to Expana, with shelf prices holding mainly steady across most areas in the past month. Last week, white large Grade A eggs were advertised at $4.49 per dozen discounted, nearly $1...
ANALYSIS: Crop Tour Shows Improved Yields but Disease Issues Raise Concerns
The Pro Farmer Crop Tour, concluding August 21, 2025, painted a nuanced picture of the US corn and soybean crops, with scouts traversing over 2,000 fields across seven Midwest states. Pro Farmer estimated the US corn crop at 16.204 billion bushels, with an average yield of 182.7 bushels per acre, reflecting concerns over disease pressure and uneven field conditions.
Soybean projections came in at 4.246 billion bushels, with an average yield of 53.0 bushels per acre, bolstered by robust pod counts, particularly in states like Illinois and Iowa. Market
Chipotle Introduces a Whole New Way to Order for a Small Group: Build-Your-Own Chipotle
Chipotle Mexican Grill today announced it will launch "Build-Your-Own Chipotle," a family meal offering intended to feed groups of four to six people, starting tomorrow, August 26. A digital-exclusive menu option, "Build-Your-Own Chipotle" is a shareable, customizable spread of real ingredients that can be ready for pickup in as little as 15 minutes.
How To Build-Your-Own Chipotle
Whether it's for friends or family gatherings, "Build-Your-Own Chipotle" brings the Chipotle...
Applebee's Names New Chief Marketing Officer and Chief Operations Officer
Applebee’s has announced the appointment of two key executives to its leadership team.
Effective September 2, Michelle Chin will assume the role of Chief Marketing Officer.
With more than two decades of experience in the restaurant and hospitality sector, Chin has led high-performing teams and executed impactful, insight-driven campaigns at leading brands across the industry.
In her new role, she will oversee the brand’s comprehensive marketing strategy, including national advertising, digital and social media, menu innovation, and integrated campaigns. Her approach...
BJ’s Wholesale Club Reports Q2 Results with Membership Growth and Strong Digital Sales
BJ's Wholesale Club Holdings has announced its financial results for the second quarter, highlighting both strengths and areas of softness in its performance.
"Our business model continues to perform and build upon momentum, as we grow membership and gain market share even in a dynamic environment. We enter the back half of the year on solid footing and confident in our ability to deliver strong results," said Bob Eddy, Chairman and CEO of BJ’s Wholesale Club. “We are on a powerful trajectory and our...
ANALYSIS: Cage-Free Market Finds Stability Amid Down-Packing Dynamics
For the first time since mid-June, our rest-of-market cage-free quote held steady for an entire week at $2.69/dozen. While cage-free demand across the US remains average at best, the ability to down-pack excess cage-free product into conventional channels has provided a temporary floor.
Cage-free production has expanded significantly in recent years, now totaling roughly 133 million layers, or just under half of the nation’s 288 million total layers. Growth has largely been driven by state-mandated...
ANALYSIS: Hog Slaughter Slows While Live Hog Market Holds Firm
Through the week ending August 16, weekly hog slaughter totaled approximately 2.42 million head, modestly higher than the prior week but nearly 4% below the same week last year. Year-to-date, slaughter is tracking around 78.4 million head, which is 2% below 2024 levels and also running leaner than the three-year average by a margin of 1.7%. In recent weeks, volumes have trailed historical benchmarks, reflecting the tighter supply environment that has characterized much of the summer.
The firmness in the live hog market has...
Canada Drops Most Retaliatory Tariffs on US Goods
Canadian Prime Minister Mark Carney announced on August 22 that Canada will drop most retaliatory tariffs on US products, with the changes taking effect September 1. Carney clarified during a press conference that tariffs on US autos, steel, and aluminum will remain for now, but asserted that Canada now holds the best trade deal of all US trading partners.
Under the new policy, tariffs on US goods will be lifted if the products are exempt under the United States-Mexico-Canada Agreement (USMCA)...
Case Farms Completes Acquisition of Foster Farms’ Farmerville, Louisiana Operations
Case Farms and Foster Farms have completed an agreement transferring ownership of Foster Farms’ Farmerville, Louisiana complex to Case Farms.
The transaction includes the fresh chicken, prepared foods, and protein conversion facilities in Farmerville, as well as a feed mill in Arcadia, Louisiana, and a hatchery in Athens, Louisiana.
“We are proud to welcome the well-respected Foster Farms team members and growers to the Case Farms family,” said Tom Shelton, Case Farms Founder and Chairman.
Mike Popowycz, Vice Chairman and CEO of Case Farms, noted
ShopRite Expands Fresh Prepared Chicken Offerings with Perdue Partnership
ShopRite's private label, Bowl & Basket, is teaming up with Perdue Farms to offer customers No Antibiotics Ever (NAE) prepared chicken in stores. Offerings include ready-to-eat NAE rotisserie chicken, roasted Oven-Stuffer chickens, whole roaster breast, fried chicken, chicken wings, and tenders.
“We know customers are looking for convenient, better-for-you options for mealtime without sacrificing great taste,” said Mark Van Buskirk, Group Vice President of Fresh for Wakefern Food Corp., the supermarket cooperative and merchandising and distribution arm...
ANALYSIS: Protein Production Outlook for Q3
The USDA is forecasting a mixed outlook for protein production in Q3, with significant declines expected in beef and turkey, while pork and broiler output remain steady or edge higher. Beef production is projected to fall sharply year-over-year (YOY), down 5.4% from 6.78 billion pounds in Q3 2024 to 6.42 billion pounds in Q3 2025. This reflects a tightening cattle supply pipeline, a trend that has persisted throughout much of the year and continues to pressure beef availability.
Turkey output is also forecast to contract, slipping 4.5% YOY to...
ANALYSIS: New Zealand’s July 2025 Beef Exports Dips to 9-Month Lows at 37,023 mt
New Zealand’s beef exports in July 2025 fell to the lowest level since October 2024, coming in at 37,023 metric tons (mt), according to the latest data from Stats NZ.
Outbound shipments fell for the second straight month by 13.6% or 5,850 mt compared to June 2025 across all key destinations including the United States, China, Canada, Japan and Korea. Export volumes were mainly capped by lower cattle slaughter and seasonal lows.
On a year-on-year (YOY) basis, volumes slipped 4.1%...
ANALYSIS: USDA Livestock Forecast Points to Lower Pork Production
In the USDA Livestock, Dairy, and Poultry Outlook released August 18, 2025, the pork market was adjusted a little lower. USDA now forecasts 2025 production at 27.7 billion pounds, down 0.5% from last year.
For 2026, production is forecast at 28.4 billion pounds, a modest 2.5% increase but still under last month’s estimate. The changes stem from slower hog slaughter and lighter weights, with spring PRRS disease pressures keeping supplies tighter.
Hog prices are forecast by USDA to remain active, averaging about $77/cwt in the third quarter and...
ANALYSIS: Navigating Growth Amid Constraints in 2025 Broiler Hatchery
The USDA broiler hatchery data for early-to-mid 2025, measured year-over-year against 2024’s record-setting output, shows the industry balancing robust demand with clear production constraints.
Broiler-type pullet chick placements are down in several months, including a notable 4.14% YOY decline in June, following unprecedented pullet highs in 2024. That pullback reflects producers operating at or near processing and hatchery capacity, while intentionally moderating placements to avoid oversupply and...
Supply-side constraints are compounded by flock health issues. Regional...
McLane Company Expands Restaurant Portfolio with Five New National Customers
McLane Company Inc., one of the nation’s largest distributors in the restaurant and retail industries, announced today the addition of five new restaurant brands to its growing national portfolio: Carl’s Jr., Panera Bread, Steak ‘n Shake, Subway and Wendy’s.
“These new relationships with some of the most beloved brands in America reflect the trust leading restaurant chains place in McLane,” said Susan Adzick, president of McLane Restaurant. “Whether it’s helping a national chain improve service consistency across regions or unlocking growth for a regional brand...
New Resource from National Restaurant Association Provides Insights into Operational Realities
Dampened customer traffic and stubbornly elevated costs combined to keep pressure on the bottom line, resulting in modest profit margins – even by restaurant standards – according to the National Restaurant Association. Released today, the Restaurant Operations Data Abstract provides restaurant operators, investors, and industry leaders with a detailed financial snapshot of the fullservice and limited-service sectors.
Based on financial and operational data from more than 900 restaurants nationwide, the report includes a wide range of insights across key cost centers. These include food and...
Tariff Talks 2025: Expana's Weekly Rundown #23
Expana’s global team of specialist reporters has been tracking every twist and turn in the fluid tariff situation.
Click to read "Tariff Talks 2025: Expana's Weekly Rundown #23."
This report allows the Expana community to see where key commodity markets stand as of this past week... Click the above PDF report, or keep scrolling to read in plain text.
...
This week, tariff news took a bit of a backseat to US President Trump’s dealings with Russian President Putin in Alaska—along with President Trump’s meeting with many European leaders...
Trump Says Immigration Plan Will Balance Farm Labor Needs and Border Security
US President Donald Trump said he is crafting an immigration plan aimed at bridging the gap between American farmers who rely on immigrant labor and advocates for stricter border policies—a balancing act that has taken center stage amid recent enforcement actions disrupting agricultural operations nationwide.
"The farmers want to have people who can work very hard in the field, and the other people don't want to have anybody from outside of our country. And I am working on a plan that I think is going to make...
Sabrositos Hondurenos Recalls 32,000 Pounds of Various Meat Products
The US Department of Agriculture's (USDA) Food Safety and Inspection Service (FSIS) announced today that Sabrosito's Hondurenos is recalling nearly 32,000 pounds of various meat products produced without the benefit of federal inspection. The problem was discovered a during routine inspection.
Food that has been produced without inspection can contain undeclared allergens, harmful bacteria, and other contaminents that put human health at risk.
Items in this announcement include chorizo, pork chops and ribs produced on various dates prior to August 20, 2025. They bear false...
FEATURED STORIES
ANALYSIS: Hot and Dry Summer Threatens European Corn Yields
ANALYSIS: Unseasonably Firm Summer Sets Stage for EU Egg Demand in Autumn
ANALYSIS: Rains and Larger Planted Area in Argentina Could Boost Corn Output in 2025/2026
ANALYSIS: Key Factors Shaping the Mexican Beef Cutout in 2025