Negotiated cash fed cattle trade remained undeveloped through Tuesday afternoon, based on USDA reports. Recent fundamentals and this week’s winter storms suggest prices should be no worse than steady.
Cattle futures mostly edged higher, amid light trade and waiting for cash direction.
Live Cattle futures closed an average of 52¢ higher, with open interest continuing to build.
After 35¢ and 12¢ lower at the front of the board, Feeder Cattle futures closed an average of 35¢ higher.
Wholesale beef values were lower on Choice and firm on Select with light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.40 lower Tuesday afternoon at $231.84/cwt. Select was 38¢ higher at $212.29.
Corn futures closed mostly 2¢ lower.
Soybean futures closed 7¢ to 8¢ lower through Aug ’21 and then mostly 3¢ lower.
Major U.S. financial indices extended gains Tuesday, helped along by positive sales and earnings from major retailers.
The Dow Jones Industrial Average closed 55 points higher. The S&P 500 closed 6 points higher. The NASDAQ was up 15 points.
U.S. consumers may appear to be creatures of habit in their eating patterns but the foods they eat today have a modern twist influenced by a host of factors such as ethnicity, age/generational group, and health/social consciousness, according to the NPD Group (NPD). That organization has tracked American eating patterns for the last 34 years.
Here are some highlights from NPD Group’s latest annual edition of Eating Patterns in America:
- There were more than 460 billion in-home and away-from-home eating and drinking occasions in the U.S. last year.
- 16% of consumers regularly use plant-based alternatives such as almond milk, tofu, and veggie burgers; 89% of these consumers do not consider themselves vegan or vegetarian.
- 14% of in-home eating occasions included at least one item that required no preparation, compared to only 11% of occasions in 2013.
- Visits to quick-service restaurants increased by 630 million visits since 2014, while total visits to restaurants declined by more than 700 million visits.
- 19% of grocery shoppers now order their edible groceries online; from 2017 to 2020 the average annual growth rate for digital restaurant orders is forecast at 22%.
- One in five adults try to manage a health condition with their food and beverage choices.
“This past year we’ve seen emerging new eating trends that will impact both the food and beverage and restaurant industries in the years to come,” says David Portalatin, NPD Food Industry advisor and author of Eating Patterns in America. “Food manufacturers and restaurant operators will need to understand how these trends will impact their businesses in order to stay ahead of the curve.”