Organic animal protein sales at supermarkets are steady to slightly lower. Fastmarkets believe egg and dairy sales are flat, and broiler sales are down. Third-party vendor information shows that organic broiler sales were down approximately 8.0% in 2023.

The trajectory of discretionary income and spending are uncertain, and the market participants believe that the Fed will now hold rates unchanged until at least June 2024. Rate cuts, which will lift liquidity and spending, have been pushed back to later in the year due to the stickiness of inflation.

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