According to recent consumer research, two-thirds of shoppers believe that pork is a good value compared to other meat proteins — and price is still the number one indicator of purchasing intent.
Cases of highly pathogenic avian influenza (HPAI) emerging this week in California, Indiana, Minnesota and North Dakota, including in a Hormel Foods Corp. flock, have executives at the company on edge. Outbreaks earlier this year affected the company’s Jennie-O Turkey Store business, and the new cases may have a lasting impact.
With global meat prices continuing to rise, as the FAO Food Price Index reports, consumers and the industry are looking to reduce costs, such as by focusing on underutilized pork products.
An unprecedented combination of factors affecting the production and movement of foods around the world is having a major impact on meat and poultry markets, and retailers and their supply partners won’t likely see that changing anytime soon.