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Volume 7, Issue 8 February 22, 2008 |
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Weekly News in Review
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| Newest Restaurants Still Reflect Flush Times |
SOMEBODY forgot to clue Daniel Boulud in to all of this recession talk. John Fraser and Ed Brown didn't get the memo, either.
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Read Article Browse All News | Source: The New York Times Company |
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| Jack in the Box Sees 2008 Profit Up |
Restaurant operator Jack in the Box Inc. said Wednesday its fiscal 2008 profit will probably rise above Wall Street estimates.
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Read Article Browse All News | Source: The Associated Press |
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| Lawsuit Against Dairy Queen Grows |
Three more Dairy Queen franchisee associations joined the Michigan Dairy Queen Operators' Association (MDQOA) in its lawsuit against International Dairy Queen (IDQ) and American Dairy Queen (ADQ) in the U.S. District Court in the Western District of Michigan.
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Read Article Browse All News | Source: QSR Magazine |
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| Seafood Group, Restaurants Blast Proposed Ban on Reef Fishing |
Organizations representing the interests of New Jersey's seafood lovers, including the Garden State Seafood Association and the New Jersey Restaurant Association, are coming together to oppose legislation which they say would strip people who don't fish of their right to enjoy ocean-fresh New Jersey lobsters, sea bass, blackfish and other species.
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Read Article Browse All News | Source: Hotel News Resource |
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| Windows-based POS Drive $3.8 Billion in Sales |
OS terminals running Microsoft Windows operating systems drove $3.8 billion of the $5.56 billion North American retail POS terminal market in 2007, according to a new study by IHL Group.
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Read Article Browse All News | Source: QSR Magazine |
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| Bam! Martha buys Emeril's rights for $50 Million |
Martha Stewart Living Omnimedia Inc. is bringing in a new celebrity: popular TV chef Emeril Lagasse.
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Read Article Browse All News | Source: Associated Press |
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| Restaurants on front line of rising costs |
City Diner isn't holding any all-you-can-eat fish Fridays this year.
"We just can't afford to do it anymore," said Pete Spoto, owner of City Diner on South Grand Boulevard.
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Read Article Browse All News | Source: ST. LOUIS POST-DISPATCH |
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| CKE Settles Food Safety Concerns |
In response to questions from guests and investors, CKE Restaurants, Inc., parent company of Carl's Jr. and Hardee's restaurant chains, announced today that it has not purchased any of the meat from Hallmark Meat Packing or Westland Meat Co.
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Read Article Browse All News | Source: QSR Magazine |
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Challenging Time For Pizzerias
By Joe Dunbar
With more people utilizing take-out dining options, pizza delivery is growing strongly in my neighborhood. Today is Friday and I expect plenty of delivery cars on the streets near my home tonight. The pizza segment has a long tradition of take-out and delivery service.
I worked in a pizzeria during my college years and we served lots of pizzas to go each night. The delivery option was not available for our customers. With a growing number of pizza lovers requesting delivery, the current economy offers pizza chains plenty of challenges:
Gas prices are up due to a weak dollar and soaring demand for foreign oil;
Mozzarella cheese prices have seen dramatic increases;
Domestic vegetable oil prices have risen and imported olive oil is up;
Canned tomato products have experienced modest increases and flour is trending higher.
Taking a closer look at the mozzarella cheese market, we have seen major shifts in the price curve):
Early January market prices from 2007 to 2008 have increased 62.5%. The trading range in recent months, between $2.00 and $2.50 per pound, is well above 2006 levels.
Pizzas use anywhere from 6 to 12 ounces of mozzarella cheese per pie. Many operators pay 75 cents more per pie for this key ingredient. If the target food cost percentage was 25%, they'd have to raise prices $3.00 to maintain margins. With plenty of delivery and take-out options competing for market share, a $3 increase may be a tough sell.
I'd recommend more profitable add-on sales to improve results. Soft drinks, garlic knots (a New York favorite), salads, chicken wings, and other non-dairy options could help the bottom line.
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"Out of our beliefs are born deeds; out of our deeds we form habits; out of our habits grows our character; and on our character we build our destiny."
-Henry Hancock
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View updated pricing and information each week on the website for the following food-commodity markets:
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Beef, Veal & Lamb |
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Beef output last week rose .9% and was 1.7% larger than a year ago. Choice beef production gains were likely better than the above. The percentage of cattle grading choice in recent weeks has trended notably superior to prior year levels. For the week ending February 2nd, the percentage of cattle grading choice was 57.08%, the best for any winter weak since 2002. The percentage of cattle grading prime was 2.58% compared to the 5 year average for the date of 2.81%. The beef markets in general are softening. Prices per pound FOB from USDA.
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Dairy |
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January US milk production was 1.9% larger than last year due to a 1.1% bigger milk cow herd and a modest .9% rise in milk per cow yields. Milk output growth could be less than projected in the coming months due to the inflated feed costs. December butter exports were 9.3 million pounds greater than the prior year notably eclipsing the domestic 3.5 million pound increase in butter production during the month. Strong butter imports are likely to persist which could be bullish for the butter market. Prices per pound, except Class I Cream (hundred weight), from USDA.
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Poultry |
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December US chicken exports were 1.4% or 5.6 million pounds less than 2006 due mostly to declines in trade with Russia (17%) and China/Hong Kong (38%). The US chicken industry has been successful however in opening trade with new markets including parts of the Middle East and Africa which almost completely offset the declines in trade with Russia and China/Hong Kong during December. With the devalued US dollar, US chicken exports are projected to be fairly strong into the spring which is bullish for the dark meat chicken markets. Chicken breast prices are moving upward. Prices USDA, FOB per pound except eggs (dozen).
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Seafood |
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December US shrimp imports were 12.1% less than the previous year with significant declines in trade with most of the major supplying countries including Thailand. 2007 total US shrimp imports were 5.7% lower than 2006. The devalued US dollar is anticipated to persevere through the spring which is likely to further limit US shrimp imports. Roughly 85% of the shrimp consumed in the US is imported. Prices for fresh product, unless noted per pound from Fisheries Market News.
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Pork |
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Smithfield Foods recently announced that they will cut their sow breeding herd by 5% due to inflated feed costs. Liquidation of a portion of the US swine breeding herd may restrict pork production later this year. December US pork exports were 15.1% or 25.1 million pounds more than the previous year. Still, December US pork output was 176.5 million pounds larger than 2006. Ham prices are trending lower now that Easter supplies have been mostly secured. Prices per pound FOB from USDA.
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Produce |
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February 1st US potato stocks were 7.1% more than last year and the largest for the date since 2000. February 1st US russet (4.6%) and Idaho russet (3.7%) holdings were also both larger than the previous year. The Idaho potato markets are steady to soft. History suggests that the Idaho potato markets could decline modestly over the next few weeks before beginning an upward course. Florida tomato shipments are anticipated to wane during the next month adding upward pressure to some of the tomato markets. Erratic tomato prices may be forthcoming in March. Prices shipping point unless noted (terminal) FOB from USDA
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Oil and Grains |
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After a month of rising hard spring wheat prices the nearby futures market has turned lower. Still, limited wheat supplies will continue to inflate the wheat markets. Prices per pound (oils) or bushel (grains) FOB from USDA.
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Canned and Frozen Food |
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Tomato Products, Canned - Canned tomato supplies are relatively adequate and the markets are steady to firm. Rising raw product costs and a decline in acreage this year are anticipated to lead to modestly higher canned tomato prices. Price per case (6/10) FOB from Supply and Market Report.
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Processed Fruits and Vegetables - Raw product apple stocks in the Northwest are limited and prices are inflated. As of last week, apple for processing prices were averaging more than 3 times a year ago. The canned apple market is firm. Prices FOB per case from Supply and Market Report.
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The Employment Center is your gateway
for posting job listings or your resume
into 3 of the most
popular sites
in the foodservice industry.
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Tipping the hosts
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We are playing with the idea to have our servers begin tipping our hosts after every shift. How do you guys feel about having your hosts be included in the tipping pool?
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Covers/Reservations Per Half Hour???
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I have a seasonal BYOB high end seafood restaurant in New Jersey. Seating capacity of 70. We serve dinner only from 5 to 10 pm. I accept reservations on the half hour. Average turn time for a party of 2 is 1-1 1/2 hours and for a party of 4 or more is 2 hours. I have a smaller but effiecient kitchen with 6-8 burners, convection oven, two lower ovens below burners, grill, flat top & a 2 basket fryer. In the past i have been very conservative in the amount of reservations/covers i take per half hour. That has ranged from 12 - 20 people per half hour. I also did not book two larger parties at the same time (5ppl or more). Our record amount of covers for the night was 140. I would love to take more covers per half hour and try to get 3 turns or 2 and a half. Being a seasonal restaurant, i feel that we should take advantage of the 16 weeks of being slammed with customers and should be taking more chances. I have been really protective of the kitchen, the FOH and most importantly the customer. I rarely have my reservations wait beyond their scheduled time. I would rather make up for the no shows in walk ins then overbooking and everyone shows up and i have no place to seat them. We are a small BYOB so there is not a bar for them to wait for their table. I have 11 4tops, 4 2tops, 1 6top, 2 drop leaf round tables - 2 -7ppl capacity. Any suggestions would be much appreciated on how to take more per half hour or if i should be taking them at any time. For ex. 6:15, 6:45 etc? Thank you in advance...
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A Mushroom I am not
Although you sell me and eat me like a mushroom, a mushroom I am not. I am the result of a Russula or a Lactarius mushroom that has been completely covered with a vivid orange-red colored parasite. The result is both startling and very tasty. This process also explains my twisted unusual shape. Sometimes my end will try to imitate a horn-of-plenty, but my edge is waxy or lobed. My base is very thick compared to my horn end, and my entire surface has a texture not unlike sandpaper. These bumps are actually pustules created by the parasitic covering that in which the spores are produced. Hungry yet? I am usually three to six inches tall and range from four inches to eight inches in width. I am foraged from midsummer through midfall throughout most of the United States, but I am most prolific under the damp conifers of the Pacific Northwest. We are the ultimate grilling mushroom, and when compared to any of those cultivated 'bellos, we blow them away in flavor and texture, whether they are baby or not. Not at all related to surf or turf, I would still be great on any plate.
What am I?
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The Food Quiz has is brought to you by Culinary Specialty Produce, a specialty produce broker that scours the world for the very best in specialty produce. Contact them at 908-789-4700 or by sending an email to info@culinaryproduce.com.
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