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News in Review
Market Reports
Food Quiz
Industry Discussion
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That Little Voice
By: Roy Bergold
OK, boys and girls, last month we talked about optimism. This month we will discuss idealism in the form of ethical behavior. Ethics should not be a part of idealism, but in today's society, unfortunately, ethics seem to be idealistic, not realistic. We seem to be on a track of "how far can I go to cheat everyone else while making as much money as I can and staying out of jail."
Let's take care of a couple of easy things first.
My opinion of people who scam others or take bonuses from companies bailed out by the government is they should be under the jail, not in it. Just so you know where I stand.
And I am not going to waste a lot of ink on legality. If you take a bribe in any form to perform an action that benefits another, you broke the law. You stole from your company.
So how do you tell if you are violating good ethical behavior? Here are four litmus tests:
- Can you look in the mirror and enjoy seeing the person looking back?
- Is the deal too good to be true?
- Does it feel right? (You know, it's that little voice your mother cultivated in you telling you not eat all the chocolate-chip cookies in the jar.)
- Will it hurt someone?
I taught a course in personal and business ethics at Northwestern University for about five years. These were graduate students who had spent a minimum of three years in the business world before coming back for their advanced degree, so they had experience. I started the class with a little exercise.
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I asked how many of them smoked. Very few hands ever went up. Next I asked of those who didn't smoke, how many were vehemently opposed to smoking? Most people were, for whatever reason.
I'd tell them I had a job open for the non-smokers. "It pays $40,000 per year, working on an insurance account at an ad agency. Who wants the job?" Usually no one raised his hand.
"OK, I have another job open. It pays $200,000 per year, plus bonus, stock options, and a company car." All hands went up.
"Wait," I'd say. "You will be selling cigarettes." Most all hands stayed up. "So all you people who are vehemently opposed to smoking are ready to sell cigarettes just because of the money? What does that say about personal ethics?" And the class went on.
Here's another short story about...
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"Opportunity does not knock, it presents itself when you beat down the door."
- Kyle Chandler
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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 production last week rose 5% but was 6.1% less than the previous year. Beef output typically tracks upward during the next month. Many of the beef markets have continued to move higher. Cyclical charts suggest that the choice cutout average index could top this week, however. Additionally, end cut beef demand is reported to be waning which is pressuring the appropriate markets downward. Once Memorial Day holiday supplies are secured some choice middle meat markets may decline as well. March US beef cow slaughter was the 2nd smallest for any month in the last year. Price USDA, FOB per pound.
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Dairy |
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March US dairy cow slaughter was 10.2% bigger than last year and the largest for the month since 2001. Dairy cow slaughter has slowed considerably in April as farmers await the CWT herd retirement program which will start late next month. The March 31st American cheese inventory was 7% more than 2008. Still, the American cheese stock gain in March was the smallest for the month in 6 years. The CME cheese markets are weak but history suggests prices may move modestly higher soon. Prices per pound, except Class I Cream (hundred weight), from USDA.
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Poultry |
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The chicken breast markets have shown mixed signs of potential seasonal strength as of late. Some modest chicken breast market increases are anticipated during the next 10 weeks or so. The chicken leg quarter market continues to firm. Strong world chicken leg quarter demand could persist as consumers trade down from other proteins. Pullet placements for the chicken hatchery flock so far this year are 7.5% less than 2008. Decreased pullet placements suggest that chicken production cutbacks will likely be long standing. March 31st chicken breast (10%), leg quarter (29%), and wing (35%) inventories were all smaller than last year. Prices USDA, FOB per pound except eggs (dozen).
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Seafood |
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The Newfoundland snow crab harvest is underway with roughly 16% of the quota landed. The Newfoundland quota this year is virtually even with 2008 which was the largest quota year in the last 4. The snow crab leg market has moved downward to its lowest price level since August of 2006 and additional modest decreases may be pending. Prices for fresh product, unless noted, per pound from Fisheries Market News.
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Pork |
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The hog and pork markets have been stunned this week by the misnamed swine flu. Although there has been no scientific connection of contracting the flu from eating pork, various countries have halted imports from certain US states. The pork belly futures markets are likely overreacting lower at this point. Buyers may want to visit bacon contracts. The domestic ham market could remain deflated due to slowed trade with major export client Mexico. March 31st ham (23%) and belly (26%) holdings were less than 2008. Prices USDA, FOB per pound.
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Produce |
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The major lettuce production area shift to Salinas is complete. The Salinas region will produce the majority of the US lettuce supply through the summer. Salinass shipments have been light due to weather challenges causing the iceberg lettuce market to remain historically elevated. Lettuce prices could improve, however, in the coming weeks. The eastern and western main tomato harvest areas are transitioning north. Western tomato supplies have lessened some. The tomato markets could be somewhat erratic into early May. The avocado market may remain inflated into August. Prices USDA FOB shipping point unless noted (terminal).
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Oil and Grains |
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Spring wheat futures have risen in recent weeks due to planting delays. Forecasted drier weather should accelerate plantings which may be bearish for the spring wheat market. Prices USDA, FOB.
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Canned and Frozen Food |
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Tomato Products, Canned - Existing canned whole peeled tomato stocks are reported to be limited due in a large part to the eastern crop shortfall last year. Higher canned tomato prices are anticipated with the new crop this July. Prices per case (6/10) FOB, unless noted from ARA.
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Processed Fruits and Vegetables - March 31st frozen green bean (21%), cut corn (4%), cob corn (17%) and green pea (26%) stocks were all larger than last year. The markets are steady. Prices FOB per case from ARA.
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Lettuce - Shredded or Whole Leaf?
Community member NoMan writes...
I'm about to start my scariest venture yet (given the economic climate) and shredded lettuce on sandwiches is something that I've given way too much consideration. I've always used leaf lettuce but I really don't like the flavor personally but it looks so good. The national qsrs all use shredded. I like iceberg on my sandwiches. What's the opinion here or is there one? ...
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Credit card fees!
Community member DLou writes...
Come on USA! Even Canadian Foodservice Operators are getting sick and tired of all these crazy high credit card fees, especially those associated with "rewards" to the customer. When are we going to ban together and stop accepting having to pay these fees? So unfair to us, and hogwash to those who say we actually benefit from accepting plastic. It's the credit card companies who are benefiting from all the interest rates...
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Soft Drink Percentage of Food Cost
Community member Mike writes...
I was wondering if anyone in the full service, or fast casual segment would give me an idea of what their target is for percentage of food cost that would be attributed to soft drink sales. I am currently running 37.14 percent cost on my soft drinks (not including sweet tea) This is for a FEC (Family Entertainment Center) and I currently offer free refills on Large drinks and pitchers and I am debating switching that policy.
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Sweet Brightness of Golden Velvet
I am a member of the rose family and was probably first cultivated by the Chinese prior to 2000 BC. I was spread westward by silk dealers. I now grow well all over the warmer temperate parts of the world. Although most popular dried in jams or jellies, I have a "sweet brightness of golden velvet" when eaten fresh. I am a jam, a jelly, dipped in chocolate, salted, smoked, stuffed and sheeted. My kernels contain small amounts of prussic acid that is destroyed when I am roasted. My kernels are also responsible for the flavor and texture of Amaretti do Saronno. In the past decade we have been invaded by plums to create an amazing new taste sensation.
What am I?
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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