ANALYSIS: Impacts of Prop 12 Shape Memorial Day Outlook for Pork Ribs, Bacon and Butts

Memorial Day is traditionally celebrated as one of the major pork holidays each year. Ribs, bacon, and butts are all beloved staples of this popular weekend that marks the official start of summer. However, this year presents a unique situation due to rebounding cold storage levels post prop 12 proclamation, sow liquidations, and economic uncertainty, unlike the past few years.

The current values for bone-in butts show an increase of 3.9% compared to this time last year, and they are also 10.4% above the...

Deliveroo Guides For Higher Earnings, Positive Free Cash Flow

Deliveroo guided for further growth in its core earnings this year after its 2023 results were better than expected.

The food-delivery company expects its adjusted earnings before interest, taxes, depreciation and amortization—a metric that strips out exceptional and other one-off items—to be between 110 million and 130 million pounds ($141 million-$166 million) in 2024, it said Thursday. It guided for positive free cash flow for the year, and expects its gross transaction value to grow between 5% and 9%, with a first quarter...

ANALYSIS: Inflation, Waning Demand Impacting UK Beef Trade This Summer

Inflation, declining cattle prices and lackluster demand are all key themes that continue to influence the UK beef trade this summer. Boxed beef carcass cutouts have struggled for several weeks as offerings for most items were generally fully adequate while demand remained subdued across retail, foodservice and manufacturing sectors.

Despite increased retail beef promotions across the UK, wholesale markets continued their downward trajectory throughout July and August. Several beef items includ