Firm Markets, Funky Consumers

In this episode, I break down the latest moves across the commodity markets, and we’re continuing to see firming conditions in several key areas. The Datum FS Commodity Index moved higher again, soybean oil climbed to six-month highs, and dairy markets strengthened with cheese and butter both trading higher on solid volume. In proteins, chicken markets are rising even with year-to-date production up, egg prices have doubled since our last episode, and pork bellies hit 11-week highs. Beef remains a major story — year-to-date slaughter is down sharply, and the latest annual cattle report shows the smallest U.S. herd since 1951, with inventory down year over year and herd rebuilding expected to be slow, especially with drought in the Southern Plains.I’m then joined by Jonathan Maze, Editor-in-Chief of Restaurant Business Magazine, to talk about the consumer and the foodservice industry. As he puts it, the consumer is “weird” right now — very price sensitive, yet still spending on delivery and rushing to try viral menu items. We discuss how social media is accelerating trends and driving sudden traffic swings, while heavy discounting continues as the industry works through ongoing traffic challenges. Looking ahead, Jonathan says one of the biggest trends to watch is beverages, as younger consumers shift away from traditional meal patterns and restaurants push harder into drink innovation to capture more occasions.Connect with our host:David Maloni’s LinkedIn: https://www.linkedin.com/in/davidmaloni/Connect with our Guest: Jonathan Maze's LinkedIn: https://www.linkedin.com/in/jonathanmaze/Click here to find out more:https://datumfs.com/