The 2023 Meat and Poultry Top 100 Report: Hungry consumers feed companies’ bottom line
May 26, 2023
The 2023 Meat and Poultry Top 100 Report: Hungry consumers feed companies’ bottom line
May 26, 2023.webp?height=50&t=1647275041&width=50)
2023 Top 100 Index:
Ongoing food price inflation has the beleaguered American consumer generally feeling a little stressed out, tired, and less than secure about their economic status and outlook. Yet despite all that, “people gotta eat,” as they say.
That reality is reflected in 2023’s Top 100 rankings, with many companies’ performance in the past year maintaining the strong upward track that began during the pandemic and has only recently started to show signs of slowing down a bit.
The latest annual Power of Meat Study found 2022 meat sales rose 5.7% when compared against 2021 sales, with a healthy 87% of all meals prepared at home featuring meat or poultry. On an even more encouraging note, the study finds that despite all the attention meat alternatives have received, more than 98% of shoppers make meat purchases. A product category can hardly expect stronger market penetration than that.
Indicators from the feedlot to the meat case are signaling a cooling market.
2023 Meat and Poultry Top 100 Preview
| Rank | Company | Net Sales (Millions) | No. of Plants | No. of Employees | Operations |
|---|---|---|---|---|---|
| 1
2022:3 |
Cargill Meat Solutions Corp.
Wichita, Kan. Brian Sikes, President/CEO |
165,000 | 40 | 155,000 | Beef Slaughter, Boxed Beef, Beef Further Processing, Ground Beef, Fresh Pork, Fresh Sausage, Cured Sausage, Ham, Deli Meat, Bacon, Poultry Slaughter, Poultry Further Processing, Plant-Based Protein, Case-Ready, Private Labeling |
| 2
2022:4 |
Sysco Corp.
Houston, Texas Kevin Hourican, President/CEO |
73,580 | 125 | 71,000 | Boxed Beef, Beef Further Processing, Ground Beef, Fresh Pork, Fresh Sausage, Cured Sausage, Ham, Deli Meat, Bacon, Poultry Further Processing, Veal, Lamb, Game, Private Labeling |
| 3
2022:1 |
Tyson Foods Inc.
Springdale, Ark. Donnie King, President/CEO |
53,282 | 150 | 142,000 | Beef Slaughter, Boxed Beef, Beef Further Processing, Ground Beef, Pork Slaughter, Fresh Pork, Fresh Sausage, Cured Sausage, Ham, Deli Meat, Bacon, Poultry Slaughter, Poultry Further Processing, Prepared Foods, Plant-Based Protein, Case-Ready, Private Labeling, Natural/Organic, |
| 4
2022:2 |
JBS USA
Greeley, Colo. Andre Nogueira, President/CEO |
27,800 | 85 | 78,000 | Beef Slaughter, Boxed Beef, Beef Further Processing, Ground Beef, Pork Slaughter, Fresh Pork, Fresh Sausage, Cured Sausage, Ham, Deli Meat, Bacon, Poultry Slaughter, Poultry Further Processing, Lamb, Prepared Foods, Plant-Based Protein, Case-Ready, Private Labeling, Natural/Organic |
| 5
2022:5 |
Smithfield Foods Inc.
Smithfield, Va. Shane Smith, President/CEO |
14,400 | 59 | 60,000 | Pork Slaughter, Fresh Pork, Fresh Sausage, Cured Sausage, Ham, Deli Meat, Bacon, Poultry Slaughter, Poultry Further Processing, Prepared Foods, Meat Snacks, Case-Ready, Private Labeling |
View the 2023 Top 100 Rankings
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The price per unit across all foods and beverages in Circana-measured multi-outlet stores, including supermarkets, club, mass, supercenter, drug, and military, increased by 8.2% in April 2023, which was down from 11.4% in the first quarter of the year.
After consecutive years of record margins, animal protein processors are seeing the strong margin cycle correcting, as rising livestock input costs because of smaller herds and normalizing production capacity are squeezing beef cut-out margins, according to an S&P Global RatingsDirect report. The report also said a combination of seasonally high inventories and higher feed costs point to weak U.S. poultry and pork processing profits in the coming quarters.
S&P Global’s analysis suggests processors face negative operating leverage from lower processing volumes, while drought conditions across the U.S. have led to accelerated on-pasture herd culling. With the U.S. Department of Agriculture projecting cattle production will fall 7.5% year-over-year in 2023 as herds rebuild, tight cattle supplies will keep beef processing margins under pressure through 2023 and likely beyond.
If your company would like to be considered for the 2024 Top 100 Report, email Fred Wilkinson at wilkinsonf@bnpmedia.com.
| Company | Sales in Sector
(in millions) |
Overall Sales
(in millions) |
|---|---|---|
| Norsan Meats LLC | 130 | 220 |
| Great Plains Beef LLC | 73.5 | 75 |
| West Liberty Foods | 50 | 841 |
| Cloverdale Foods Co. | 9.9 | 197 |
| Crescent Foods | 8.5 | 85 |
| MMM Meat LLC | 1.2 | 13.4 |
| Company | Sales in Sector
(in millions) |
Overall Sales
(in millions) |
|---|---|---|
| Cooper Farms | 239 | 955 |
| West Liberty Foods | 210 | 841 |
| Crescent Foods | 68 | 85 |
| Norsan Meats LLC | 29 | 220 |
| Cloverdale Foods Co. | 9.9 | 197 |
| Company | Sales in Sector
(in millions) |
Overall Sales
(in millions) |
|---|---|---|
| Cooper Farms | 191 | 955 |
| Cloverdale Foods Co. | 117.3 | 197 |
| West Liberty Foods | 143 | 841 |
| Norsan Meats LLC | 31 | 220 |
| MMM Meat LLC | 12 | 13.4 |
| Company | Sales in Sector
(in millions) |
Overall Sales
(in millions) |
|---|---|---|
| Cooper Farms | 525 | 955 |
| West Liberty Foods | 311 | 841 |
| TFC Poultry LLC | 99 | 99 |
| Crescent Foods | 4 | 85 |
| Company | Sales in Sector
(in millions) |
Overall Sales
(in millions) |
|---|---|---|
| Carl Buddig & Co. | 85 | 894 |
| Cooper Farms | 29 | 955 |
| West Liberty Foods | 8 | 841 |
| Company | Sales in Sector
(in millions) |
Overall Sales
(in millions) |
|---|---|---|
| Cooper Farms | 19 | 955 |
| Crescent Foods | 85 | 85 |
| Carl Buddig & Co. | 45 | 894 |
| West Liberty Foods | 11 | 841 |
| Company | Sales in Sector
(in millions) |
Overall Sales
(in millions) |
|---|---|---|
| Carl Buddig & Co. | 715 | 894 |
| West Liberty Foods | 664 | 841 |
| Cooper Farms | 334 | 955 |
| Cloverdale Foods Co. | 173 | 197 |
| Norsan Meats LLC | 147 | 220 |
| Crescent Foods | 68 | 85 |
| Great Plains Beef LLC | 37.5 | 75 |
| MMM Meat LLC | 13.4 | 13.4 |
| Company | Sales in Sector
(in millions) |
Overall Sales
(in millions) |
|---|---|---|
| West Liberty Foods | 177 | 841 |
| Cooper Farms | 143 | 955 |
| Norsan Meats LLC | 70 | 220 |
| Great Plains Beef LLC | 37.5 | 75 |
| Crescent Foods | 17 | 85 |
| Cloverdale Foods Co. | 4 | 197 |
| Company | Sales in Sector
(in millions) |
Overall Sales
(in millions) |
|---|---|---|
| Cooper Farms | 478 | 955 |
| Carl Buddig & Co. | 179 | 894 |
| Cloverdale Foods Co. | 20 | 197 |
| Norsan Meats LLC | 2 | 220 |
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