Politics, Mergers and Disgusting Beverages

Seasonal topics like the 2024 elections and summer food trends dominated the wires, rounded out by evergreen business conversations.

• The RNC dug in to some concerns important to food production. 
• Mega brands in meat and grocery jockeyed for dollars.  
• Trends ran the gamut from cabbage to ice cream.

Electing to Talk Food Policy

After a relatively quiet primary voting round, the 2024 election season is in full swing. Up to now, the nominees had published few policy goals for food or agriculture — but that’s starting to change.

• At the Republican National Convention (RNC) on July 15, former president Donald Trump announced J.D. Vance as his running mate. DTN Ag Policy Editor Chris Clayton noted that Vance “has little history in agricultural policy, but always had a story to tell about rural America.”
• Agri-Pulse captured concerns about trade wars if the Trump-Vance campaign is successful, due to the pair’s “populist, pro-tariff” preferences. The outlet additionally covered Vance’s acceptance speech, which doubled down on goals to retreat from free trade agreements.
• The Scoop speculated on possible USDA leaders if Trump wins. Current Agriculture Secretary Tom Vilsack has not stated how long he will continue in the role if President Biden is reelected.
• Both candidates have stepped up rhetoric around food prices. Biden claimed that his campaign trail talking points convinced Target and Walmart to lower prices. And Politico reported that Trump’s platform seeks to “end inflation.”
• President Biden’s recent policies have skewed toward workforce-related items, with the AFL-CIO calling his administration “the most pro-union administration in our lifetimes.”

Our Takeaway: It’s not surprising that food inflation is the common campaign point, as it’s the most widely recognized outcome of food and agricultural policy. However, both candidates support tariffs and U.S.-based production, which contribute to high food prices.

Dealmaking

Mergers, closures and IPOs — those topics lead the business section lately. Manufacturers, retailers and foodservice brands continue to deal with tight competition and rising prices. Here are a few highlights:

• Wall Street Journal writer Patrick Thomas reported that Chinese-owned Smithfield Foods, the largest U.S. pork producer in the U.S., announced plans to spin off its U.S. and Mexican business, listing on either the New York Stock Exchange or Nasdaq Stock Market.
• Food Politics blogger Marion Nestle broke down the latest news about the Kroger-Albertsons merger, which involves closing almost 600 stores. “One reason why the Federal Trade Commission sued to block the merger is evident: there will be fewer grocery stores available. Other reasons: less competition between the chains, and more power over employee wages, benefits, and working conditions.”
• Compounding the point about fewer available grocery stores, Progressive Grocer summarized Ahold Delhaize’s plan to close 32 “underperforming” Stop & Shop stores on the East Coast by the end of the year.
• “At least the hot dogs are still cheap,” lamented Food & Wine’s Stacey Leasca, while explaining how and why Costco raised its membership fees.
• Nation’s Restaurant News detailed the traffic boost the $5 Meal Deal gave McDonald’s amid some heavy headwinds in the quick-service segment in general.

Our Takeaway: As families keep stretching their food budgets, food makers and sellers struggle to appeal to them without cutting sticker prices — which often means cutting costs somewhere.

Still Screaming

We rounded up summer food trends to round out your journalistic picnic basket: meats, sides and desserts all made the list.

• Rollout focus June 2024: It’s grilling season | Food Processing
• Poultry to dominate protein consumed globally: UN report | Meatingplace
• Cabbage is magic. Is it finally having its moment? | Los Angeles Times
• Fava beans: They’re what’s for breakfast | Food Business News
• We compared classic frozen foods with their updated, fancier versions | Eater
• What’s churning in the ice cream category? | Progressive Grocer
• Desserts and ice cream: Experts flag innovation to relieve tension, offer comfort through indulgence and escape stress | Food Ingredients First
• Gen Z heat seekers leading hot sauce boom | Food Dive
• Confection giants find gummy sales anything but soft | Food Dive