DELCO FOODS
BELLISSIMO STEAMED CHICKEN WINGS
PANDEMIC SUPPLY ISSUES
RESTAURANT RE-OPENING
LABOR ISSUES
APRIL 2021
VOL. 26, NO. 4
GLOBAL FOOD PRICING
MANY MOVING PARTS By Peter Thor, President, Bellissimo Foods Company
For nearly 75% of Americans, pizza has been their comfort food of choice during this pandemic. A new survey found that 30% of Americans are consuming more pizza during the pandemic, and nearly 90% say that pizza is their “go-to” pandemic comfort food. We hope these consumer trends become permanent habits!
Chicken wings have become a true staple in restaurants, especially in pizzerias. They have become even more popular during the pandemic due to ease of carry out, quick cook time, and nostalgic eating experience. For a fully cooked wing that gives you versatility and product safety in this every changing poultry market we introduce Bellissimo’s Steamed Chicken Wings – code #16933. Bellissimo’s Jumbo Steamed Chicken Wings are an excellent option if you want to start serving chicken wings in your restaurant, or have typically ordered raw wings. These fully cooked, lightly coated wings are perfect for your (continued on page 3)
Inflation on the horizon for consumers and the food industry. Nearly 10 million jobs have been lost in the US and have not come back, yet. Global food costs are soaring, and the timing could not be worse. Restaurants are reopening, travel is increasing, and vaccine roll-out is coming. All of this suggests a spike in demand, questions about supply, and sharp increases in costs. First the positive. Virtually all states have started to re-open their Corona Virus restrictions. Recent increases in vaccine availability have spurred consumer confidence. Scientists have cautioned to go slow, but consumers desire to get back to pre-pandemic activities like travel, eating out, sports and social activities. Still, workplace changes suggest a gradual return to normal office routine. Fortune Analytics surveyed working adults across America and found that over 40% said they’d prefer a hybrid mix of remote and in-office work. Of people who travel for work, less than 70% said they would resume previous levels of travel when the pandemic is over. Extensive use of video calls and virtual conferences have proven effective for many. The impact of future travel, and split between office and home will define lunch, dinner, and social consumption. In our pizza industry, answers to these questions are critical because they will define where restaurants are located and nature of demand. The next year will be incredibly challenging because of both uncertainty of demand, and disruptive supply in both availability and cost. Many costs
MARKET UPDATE Dairy
PRICE
LAST MONTH
DIFFERENCE
Cheese Blocks $1.8000 $1.7325 $0.0675 The USDA is forcasting Q2 domestic milk output to be up 3.6 % (y/y). Strong exports and rising restaurant activity will likely keep the cheese and butter markets supported in the near term.
Beef 50% Trimmings
PRICE
LAST MONTH
DIFFERENCE
$0.4360 $0.4650 ($0.0290)
The beef 50’s are struggling to hold any upside momentum fading towards the lower $0.40’s area. Imported beef 90’s also remeain week as reported buying interest is smaller than anticipated.
Poultry
PRICE
LAST MONTH
DIFFERENCE
Wings(Jumbo) $2.8390 $2.7966 $0.0430
Chicken prices have been firm recently and reports remain that both retail and food service interest is high. Broiler price increases may be tempered a little moving forward but not until chicken production picks back up.
(continued on page 2)
A PROUD DISTRIBUTOR OF BELLISSIMO
1