Industry Overview - Turkey farms play a vital role in cherished traditions [1]

Core Insights - Hormel Foods is implementing a multiyear Transform and Modernization initiative to mitigate margin pressures in fiscal 2025, which ended on October 26 [3][4] - The initiative aims to transform the supply chain and reduce portfolio complexity, resulting in increased distribution capacity and optimized manufacturing footprint [3] - Hormel anticipates that the initiative will continue to alleviate inflationary pressures and support margin expansion in fiscal 2026, although specific savings from the program will no longer be reported separately [4] Financial Performance - In fiscal 2025, Hormel faced elevated pork and beef prices, with cost inflation for pork bellies, pork cutout, and pork trim rising by 25%, 10%, and 20% respectively [8] - Beef prices also saw significant increases throughout the year, impacting the company's margins despite pricing actions taken at various times [8] Supply Chain Challenges - Beef costs are expected to remain high and pose challenges throughout fiscal 2026, while pork input costs are projected to decline but remain above the five-year average [5] - Turkey supplies are anticipated to remain constrained through the first half of 2026 due to avian flu [5][8] - Tyson Foods is also experiencing supply challenges, relying on value-added products and operational efficiencies to navigate reduced hog and cattle supplies [6]

Cultural Impact - The article discusses how the turkey became central to America's Thanksgiving festival [1] Industry Relevance - The article explores the historical and cultural factors influencing food consumption trends in the US [1]

Thanksgiving Food Preferences - Canned cranberry sauce (no berry) ranks as the most preferred Thanksgiving item [1] - Turkey, a traditional Thanksgiving staple, is ranked last [1] Ranking Trends - Stuffing and Mac & Cheese are ranked second and third respectively [1] - Apple Pie and Gravy hold the fourth and fifth positions [1] - Sweet Potato Casserole and cranberry sauce (with berry) are ranked sixth and seventh [1] - Mashed Potatoes and Butter are ranked eighth and ninth [1]

Turkey is disgusting, and Pumpkin Pie is mid. ...

Thanksgiving should be cheaper this year. Turkey, stuffing and cranberry prices are all lower, but skip the yams. Sweet potato prices have skyrocketed.🔗 https://t.co/ixMUfn3TY5 https://t.co/McngPM6Cod ...

Turkey, stuffing and cranberry prices are all lower, but skip the yams. Sweet potato prices have skyrocketed. https://t.co/ZFNMMSuB6t ...

Market Trends & Consumer Behavior - Turkey prices are the same or lower than last year for Thanksgiving, with retailers offering strong pricing [2] - Consumers do not plan to compromise on turkey for Thanksgiving, with 84% planning to have it on the table, consistent with previous years [2][4][5] - There's a growing consumer focus on protein, particularly low-fat protein, making turkey a suitable option [7] - Ground turkey is experiencing double-digit growth, indicating a shift towards everyday consumption [8] Company Strategy & Operations - Butterball has a network of over 600 family farmers across the country, ensuring a constant supply of turkeys [10] - The company can plan carefully and make adjustments throughout the year to ensure adequate supply [11] - About one-third of Butterball's business revolves around holidays, while the rest is year-round [17] - Butterball is adapting its communication strategies to reach younger consumers who are now making purchasing decisions [18] Industry Challenges & Opportunities - Bird flu has impacted the turkey industry for the last several years, but supply is expected to be adequate for Thanksgiving [12][13] - The federal government has allocated $1 billion to help prevent the spread of bird flu [14] - Turkey is positioned as a healthy and economical protein, fitting well with current dietary trends [19]

Core Insights - Grocery Outlet is launching holiday promotions to help customers save up to 60% on their shopping, emphasizing affordability during the holiday season [1][2] Promotions and Offers - Holiday Wine Sales will offer 20% off all wine bottles from November 5–11 and December 12–14, featuring new wines under the Second Cheapest Wine™ brand priced at $4.99 per bottle [4] - A Turkey Deal will provide a frozen 14–16-pound Jenny-O turkey for $5.99 with a $50 purchase from November 12 to November 27, available in select states [7] - Customers can enter to win Free Groceries for a Year valued at $6,000 or Free Groceries for a Month valued at $500 by scanning their card in the Grocery Outlet app [7] Market Context - Recent polls indicate that 74% of Americans have seen their monthly household costs increase by at least $100, with some reporting increases as high as $749 [9] - Economic sentiment is low, with three out of four Americans rating economic conditions as fair or poor, primarily due to rising prices and personal expenses [10] Company Overview - Grocery Outlet is a high-growth, extreme value retailer with over 550 stores across multiple states, focusing on quality, name-brand consumables and fresh products [11]