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ANALYSIS: Soaring EU Egg Imports
When looking at the first eight months of the year, import volume of shell eggs in the EU more than tripled in the last two years. Extra-EU imports increased by 234% from 12,826 MT in 2022 (Jan-Aug) to 42,889 MT this year (Jan-Aug). This represents 62.2 million euros so far for 2024, down 7% year over year, but up 170% since 2022.
The main supplier of the EU for eggs is Ukraine, which has a free-trade agreement with the EU. Despite some quotas in place, Ukraine...
Vital Farms Reports Third Quarter 2024 Financial Results and Raises Fiscal Year 2024 Outlook
Third Quarter Net Revenue of $145.0 million, up 31.3% versus Prior Year PeriodRaises Fiscal Year 2024 Guidance and Reiterates Long-term GuidanceOn Track to Reach $1 Billion Net Revenue Target in 2027
Vital Farms, a Certified B Corporation that offers a range of ethically produced foods nationwide, today reported financial results for its third quarter ended September 29, 2024.
Financial highlights for the third quarter ended September 29, 2024, compared to the third quarter ended September 24, 2023...
ANALYSIS: U.S. Egg Market Faces Pressure as Price Hikes Cool Consumer Demand
Retail demand across the U.S. has grown increasingly varied this week, influenced by rising shelf prices and differing Thanksgiving preparation timelines among retailers. Over the past week, nearly all retail outlets have raised their shelf prices, reflecting last month’s more than 100% increase in wholesale values. However, these adjustments have been far from uniform. Most large-scale chains are pricing conventional large eggs around $3.00 per dozen, while smaller, regional stores are seeing prices surge above $4.00—and, in some cases...
Introducing IFMA The Food Away from Home Association
After decades of branding itself the International Foodservice Manufacturers Association (IFMA), a new identity for the 72-year-old organization was revealed today – “IFMA The Food Away from Home Association.”
Announced this morning at the organization’s Presidents Conference, the change was prompted by the association’s recent long-term strategic planning that included intensive self-examination and taking a clear-eyed look at the state of the industry...
Publix Reports Third Quarter 2024 Results and Stock Price
Publix’s sales for the three months ended Sept. 28, 2024 were $14.6 billion, a 4.9% increase from $14 billion in 2023. Comparable store sales for the three months ended Sept. 28, 2024 increased 3.4%. The company estimates sales for the three months ended Sept. 28, 2024 increased 0.6% due to the impact of Hurricane Helene.
Net earnings for the three months ended Sept. 28, 2024 were $1.1 billion, compared to $833 million in 2023, an increase of 31.7%. Earnings per share...
ANALYSIS: U.S. Egg Prices Surge to Record October Highs on Retail Strength, Bird Flu Cases
U.S. shell egg prices have surged to a record October high of $4.32 per dozen—a staggering 95% increase since the start of a rapid rally that began on October 10. This rise in prices comes as strong retail demand coincides with a fresh wave of highly pathogenic avian influenza (HPAI), which has impacted layer populations and intensified the tight supply situation.
Retail demand has been exceptionally robust in recent weeks, spurred by scattered promotional activity and widespread price cuts...
Lar Agroindustrial Plans New Investments in Protein and Grains for 2025
Lar Agroindustrial Cooperative has announced plans to allocate resources towards new protein production units and to modernise its processing plants for poultry, pork, and soy, according to local media outlet Agfeed.
In 2024, Lar invested BRL 1 billion, with the majority directed to its soybean crushing operations, including the BRL 280 million acquisition of a soybean crushing plant from Copagril. Additional investments were made in poultry slaughtering, animal feed production, piglet and chick facilities, and logistics.
For 2025, Lar plans to invest a further BRL...
The Retail Rundown: Tuning in to Turkey
Retail promotions for seafood continue to dominate the protein category this week, capturing nearly a third of ad circular space (32 percent). Beef and pork follow, taking up 23 percent and 21.3 percent, respectively. Chicken is up slightly from the previous week at 16 percent. Egg ads held steady at about 3 percent.
Several items were featured at lower prices compared to 2023 last week, with chicken leg quarters averaging $1.55 per pound, 5 cents cheaper than last year. Fresh pork loin prices were down by 2 percent...
Check Out The Super-EST Market In Town: Lidl Relaunches Brand In The US
Grocery shopping... as just another errand? Couldn't be us!
Buckle up, because Lidl US is here to take your tastebuds on a joyride through the aisles, offering the highest quality products at the lowest prices.
Introducing The Super-EST Market
We're putting the "super" in supermarket (make that The Super-EST Market) by delivering a curated collection of private label picks, global imports, and everyday name brands. With 170+ stores woven through neighborhoods across nine East Coast states and Washington, D.C...
ALDI Commits to Thanksgiving Prices Lower Than 2019, Feeding 10 People for Less than $47
This holiday season, ALDI is offering its lowest-priced Thanksgiving basket in five years – a full meal for 10 people at less than $47.* With reports showing grocery prices are up 50% across the industry on hundreds of items compared to 2019,** shoppers will get welcome relief at ALDI on their favorite Thanksgiving fixings.
Throughout the Thanksgiving season, holiday hosts can shop ALDI for all the fresh ingredients and award-winning products they need to assemble...
The Retail Rundown: Eggs Rule the Roost During Baking Season
As October reaches its midpoint, many homes are filled with the irresistible aromas of freshly baked goods, marking the onset of the holiday baking season.
This seasonal shift benefits the egg case as eggs find their way into breads, cookies, pastries, pies, and more. Also, more consumers are reaching for hot breakfasts as the weather turns colder, which further boosts egg demand.
Data from Circana shows that the average retail feature price for large, white Grade A eggs averaged $3.72 per dozen last week...
Cal-Maine Foods, Inc. Announces Expansion Plans for Additional Cage-Free Production Capabilities
Cal-Maine Foods, Inc. today announced that on October 4, 2024, its Board of Directors approved $40 million in new capital projects to further expand the Company’s cage-free production capabilities. The Company plans to fund the projects through a combination of available cash on hand, sales of investment securities and operating cash flow.
The projects will include the addition of five new cage-free layer houses across the Company’s locations in Florida, Georgia, Utah and...
European Shell Egg Market Concerned by New Avian Influenza Outbreaks in Italy and France
Italy reported an outbreak of the severe H5N1 avian influenza virus late last week. It was the first outbreak in Italy for several months, according to the World Organisation for Animal Health (WOAH).
The outbreak occurred on a large commercial layer farm in the northeast believed to house up to 1 million birds, a market source told Expana.
The same market source said that now that H5N1 avian influenza is back in Italy, coupled with the spread of other livestock and poultry...
ANALYSIS: EU Shell Eggs Firming up as Consumption Progresses
The EU is experiencing a firm shell egg market, as it is common to see at this period of the year. However, market players on the supply side report that the overall egg production in the region is not following the strong progression of the demand from consumers and from processors.
According to Eurostats, graded shell eggs in the EU increased value by 6.9% between week 34 at 1,936€/MT (in the middle of August) and week 39 at 2,069€/MT (at the end of September)...
Bob Evans Launches All-New Breakfast Value Menu Starting at $5.99
Bob Evans Farmhouse Kitchen™ is excited to announce the launch of their all-new breakfast value menu, "Sunrise Savers," debuting today, October 3. The new breakfast menu gives guests high-quality, farm fresh dishes at affordable prices – putting more food on your table for less. The Sunrise Savers menu features an array of wholesome, delicious dishes, ranging from farmhouse classics to brand new dishes designed with flavor and value in mind.
"At Bob Evans Farmhouse Kitchen, our goal is to excite our...
ANALYSIS: U.S. Egg Prices Stabilize After Sharp Decline, Amid Strong Canadian Demand, Retail Uptick
Friday marked the end of a four-week decline in U.S. shell egg prices, during which Midwest Large fell by a staggering 51.1%, settling at $2.12 per dozen. This drop came amid weak retail demand and increasing production levels. Throughout the summer, many of the nation’s largest retailers had employed eggs as a loss leader, boosting unseasonably strong demand as inflation-conscious consumers sought affordable, high-protein food options.
Summer is typically a period of reduced production, as egg producers cycle...
IHOP Is Bringing Weekends to the Weekdays to Celebrate the New Value-Driven House Faves Menu
Today, IHOP® announced it’s bringing the weekend to the weekday by inviting guests to enjoy its new House Faves menu every Monday through Friday from 7am-10pm, for just $6. IHOP prides itself on listening and reacting to guest feedback quickly; knowing customers are constantly looking for more ways to save when dining out with their families, the brand curated its House Faves menu with some of its best-selling breakfast items for guests to enjoy for just $6...
The Retail Rundown: Onwards to October
With October nearing, the shift in retail meat features from grilling cuts to roasts is picking up pace. More households are utilizing their ovens and crockpots, making it prime time for hearty ingredients like chuck roasts and pork shoulders.
Still, warmer weather lingers in some regions. For those with favorable grilling conditions, shoppers may find deals on items like steaks, ribs, and pork chops as retailers work to move any extra inventory.
This week’s retail buying opportunities show seafood continuing to lead, making up 26.9% of protein advertisements, followed by pork at 24.7%, beef at 21.2%...
American Egg Board’s “Meant to be Broken” Campaign Inspires Consumers to Rediscover Eggs
Integrated, multichannel campaign aims to shift perceptions of eggs from boring to a powerhouse food with relevance in the changing lives of consumers
The American Egg Board (AEB) today announced the launch of “Meant to be Broken,” an integrated marketing campaign that challenges consumers to rethink eggs and their everyday lives by inspiring them to be bold and break something—an expectation, routine and, of course, an egg—to unlock new possibilities. The campaign marks a strategic shift for the egg industry designed to accelerate sustained...
ANALYSIS: Egg White Powder Exports to Japan See Declining Revenues Despite Stable Volumes
Since 2023, the volume of dried egg white exported to Japan by the EU has plateaued at levels 26% lower than two years ago in 2021. The average of quarterly volumes exported in 2021 is 2105 MT, vs 1464 MT in 2023, and 1593 MT in 2024 (first and second quarters). Exports are now more stable and even slightly higher in 2024, compared with last year. However, in terms of revenue, values have been declining rather steeply since Q1 2023...
Cracker Barrel Reports Fourth Quarter Fiscal 2024 Results
Cracker Barrel Old Country Store, Inc. today reported its financial results for the fourth quarter of fiscal 2024 ended August 2, 2024. In 2024, the fourth quarter and fiscal year included an additional operating week ("53rd week") compared to fiscal 2023.
Fourth Quarter Fiscal 2024 Highlights
The Retail Rundown: Going All-Out for Autumn
Fall is just around the corner, with the official start of autumn this Sunday, September 22. As cooler weather sets in and travel plans wind down, grocers are ramping up their offerings of seasonal favorites to align with the change in consumer preferences.
According to the Expana Retail Activity Index, seafood continues to lead for the fourth week in a row, making up 30% of total protein ads. Beef and pork are close behind, each at around 25%, while chicken accounts for 14%. Eggs represent 2.8% of retail opportunities, and turkey has 2.3%...
Cal-Maine Foods, Inc. Announces Strategic Investment in New Egg Products Joint Venture
Cal-Maine Foods, Inc. (NASDAQ: CALM) today announced that it has completed a strategic investment with Crepini LLC, establishing a new egg products and prepared foods joint venture. Crepini LLC, founded in 2007, has grown its brand throughout the United States and Mexico featuring egg wraps, protein pancakes, crepes, and wrap-ups, which are now sold online and in over 3,500 retail stores.
The new entity, located in Hopewell Junction, New York, will operate as Crepini Foods LLC (“Crepini”). Cal-Maine Foods...
ANALYSIS: Wholesale U.S. Shrimp Prices Converging with Typically Lower Egg Prices
There is usually a common perception from consumers that seafood and shrimp are luxury items while eggs have appealed to price sensitive consumers. But the chart might tell a different story right now. From 2019 to 2020, the Expana Benchmark Price Large Shell Egg, Midwest averaged 19% of the price of the 16-20 count Peeled and Deveined, Tail-On White Shrimp, Asia origin...
Milo’s Poultry Farms, LLC., Recalls Eggs Because of Possible Health Risk
Milo’s Poultry Farms, LLC. of Bonduel, WI is recalling all “Milo’s Poultry Farms” and “Tony’s Fresh Market” branded eggs because these eggs have the potential to be contaminated with Salmonella, an organism which can cause serious and sometimes fatal infections in young children, frail or elderly people, and others with weakened immune systems. Healthy persons infected with Salmonella often experience fever, diarrhea (which may be bloody), nausea, vomiting and abdominal pain...
U.S. Egg Market Retreats from Seasonal Highs as Rising Shelf Prices Stifle Demand
A sharp rise in retail shelf prices across the U.S. has stifled consumer demand for eggs, bringing an end to a six-week rally that had pushed wholesale values to record highs for this time of year...
New Study Finds a Relationship Between Eating Eggs and a Reduced Risk of Alzheimer's Dementia
For adults, eating eggs may support brain health – with research especially citing the egg’s naturally rich choline content.
A new study published in The Journal of Nutrition suggests an association between eating eggs and a reduced risk of Alzheimer’s dementia in older adults. These findings are important as the prevalence of Alzheimer’s dementia—the most common type of dementia—is expected to increase with an aging population.
Researchers continue to explore how diet could impact risk for Alzheimer’s dementia. Whole eggs, with most of their...
Vital Farms Hires Reena Van Hoven as Chief People Officer
Vital Farms, a Certified B Corporation that offers a range of ethically produced foods nationwide, has hired Reena Van Hoven as Chief People Officer (CPO), starting September 16, 2024. Van Hoven joins Vital Farms from food and beverage industry leader Danone North America. In the newly created CPO role, Van Hoven will lead Vital Farms’ People Team overseeing Business Partnerships, Org & People Development, and Total Rewards.
“We are thrilled to welcome Reena to build on the great foundation our People Team has established. We believe our true competitive...
FMI Research: Shoppers Feel in Control of Their Grocery Spending
Consumers are adapting their shopping strategies to include more flexibility as they attempt to control their grocery spending heading into the fall, according to the latest survey conducted by FMI – The Food Industry Association and The Hartman Group. The report, U.S. Grocery Shopper Trends 2024: Return to Routine, provides a crucial snapshot of how shoppers are finding value and evolving their grocery shopping habits in the current economic environment.
While shoppers report continued concerns regarding inflationary pressures on food and other consumer categories...
Vital Farms Hires Joe Holland as Chief Supply Chain Officer
Vital Farms, a Certified B Corporation that offers a range of ethically produced foods nationwide, has hired Joe Holland as Chief Supply Chain Officer (CSCO)beginning on September 1, 2024. Mr. Holland’s proven track record of driving operational excellence for high-impact consumer packaged goods (CPG) companies will help the company continue to raise the standards across the food industry. He will lead Vital Farms’ diversified supply chain team, including its award-winning egg washing and packing facility, Egg Central Station (ECS), in Springfield, Missouri, its forthcoming...
Kroger Files Motion to Enjoin the FTC's Administrative Merger Challenge
The Kroger Co. today filed a motion for preliminary injunction in the U.S. District Court, Southern District of Ohio, against the Federal Trade Commission's (FTC) administrative proceeding challenging the company's merger with Albertson's Companies, Inc. The company argues that by proceeding in its administrative tribunal, in addition to the separate action in federal court, the FTC is violating Constitutional protections.
The motion details how the FTC's administrative proceeding against the merger clearly violates the Constitution in two areas:
Circana Reports on the Future of Dinner: Quick Meals and Invested Occasions Define Consumer Habits
Circana™, a leading advisor on the complexity of consumer behavior, today released insights from its Future of Dinner report, revealing that U.S. consumers source 81% of their dinners at home and most often enjoy dinner with others. While Gen X prefers dinners that require minimal preparation and few ingredients, Gen Z consumers increasingly invest in special occasion dinners as they hone their kitchen skills, while also seeking no-prep dinner solutions. In fact, half of all dinners are ready in 15 minutes or less...
The Retail Rundown: Leaping Towards Labor Day
Labor Day weekend, often viewed as the unofficial end of summer, is just two weeks out. Many families are seizing the opportunity for one last vacation, boosting foodservice spending.
For some students, summer break has already concluded, and back-to-school shopping for essentials like breakfast and lunch items is in full swing. Among retailers, Labor Day is recognized as the final major grilling event of the year, marking the last big push to promote barbecue favorites.
Last week, boneless skinless chicken breasts were featured at $4.43 discounted, 18 cents above...
New Breakfast Deal Starting at $4.99 Promises Exceptional Value at Perkins American Food Co.
Perkins American Food Co.™, formerly Perkins Restaurant & Bakery®, is launching America's best value breakfast, with the launch of its new Great American Trio, starting Friday, July 19. Enjoy the 5 Under $5, 6 Under $6, and 7 Under $7, all featuring Perkins famous buttermilk pancakes, crispy Applewood smoked bacon, and perfect eggs prepared your way. The best news? Perkins serves breakfast all day, every day, so you can dig into America's best value breakfast any...
The Retail Rundown: Dog Days Dull Buying Occasions
Holiday retail meat clearance last week was reported as mostly positive albeit a bit scattered due to varying weather conditions across the country. This week, extreme heat and record temperatures are expected to persist in the Western and Eastern U.S.
The sweltering conditions that typically accompany the dog days of summer make it challenging for retail to capture regular meat purchases. The egg case also typically sees fewer purchases around this time of year as consumers opt for cold breakfasts like cereal and fruit...
Mintec's 2024 US Easter Index
Mintec’s US Easter Index measures price fluctuations across key food commodities that are typically consumed in the US during the Easter period. The US Easter Index compares the commodities’ prices in March 2024 against March 2023 to determine whether consumers will be hypothetically better or worse off this Easter. The Index is comprised of three sub-indices: the US Easter Protein Index represents a selection of meats, fish and eggs that will typically be eaten as part of a main Easter dinner; the US Easter Chocolate Index compares the main...
REPORTER: Bird Flu, Strong Retail Demand Send Egg Prices Soaring
This article was originally featured in the WINTER 2024 Edition of Urner Barry’s Reporter magazine.
After more than five weeks of no change, the shell-egg market began its seasonal ascent in the penultimate week of October, as it often does, on a combination of strengthening retail demand and mounting confidence in the lead-up to Thanksgiving. Days later, that upward momentum got kicked into overdrive, following reports that the bird flu had broken out on a commercial layer farm for the first time in 11 months...
REPORTER: The Difficult Road to Cage-Free Eggs in the EU
With nearly 390 million laying hens in 2022, the European Union is one of the top regions of the world to produce table eggs and egg products. It is also among the first to engage with cage-free regulations, with a deadline of January 2027 for the total disappearance of cages in egg farms. However, since the law was adopted in 2021, we have seen the emergence of global high inflation, a consequence of...
Mintec Releases "Christmas Dinner Index 2023" Report
Mintec's Christmas Dinner Index, which measures price fluctuations across key food commodities that make up a traditional Christmas dinner (main meal and dessert), increased by 2.7% year-on-year (y-o-y) in November 2023.
Mintec enables the world's largest food and manufacturing brands to implement more efficient and sustainable procurement strategies. We do this through our cutting-edge SaaS platform, Mintec Analytics, which delivers market prices and analysis for thousands of commodities, food ingredients and associated materials. Our data and tools empower our customers to understand prices better, analyze their spend...
FEATURED STORIES
HPAI H5N1 Virus in Dairy Cattle – What We Know
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ANALYSIS: Thanksgiving Bird Choices - Trends, Prices, and Consumer Preferences for Whole Chicken
ANALYSIS: Demand Outpaces Supply for Brazilian Beef