← Hormel Foods overview

Hormel Foods vs Soybean Meal Futures: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Hormel Foods Corporation (HRL)

Q3 2026
▲2▼1

Hormel's profit holds up but sales shrink; new CEO bets $1B on chicken

  • Sales keep shrinking and guidance was cut Hormel's quarterly sales fell 2.4% to $2.96 billion and missed forecasts, with volumes down 7.4%. Management cut its full-year sales outlook to about $12.1-12.2 billion, citing cautious shoppers, weak nut sales and high freight costs. Falling sales and a weaker top line pull the stock down.

    The revenue miss and lowered sales guidance are the core reason the stock fell this period.

  • Profits beat and profit outlook was raised Even with weaker sales, Hormel earned $0.37 a share, beating estimates, and raised the bottom of its full-year profit guidance to $1.45-$1.51. Cost cuts, including an 18% drop in advertising, lifted adjusted operating margin to 9.0% from 8.4%. Better profits support the stock.

    This is the main counterweight: earnings and margins improved even as sales fell.

  • $1.055 billion deal to buy chicken maker Brakebush Hormel agreed to buy Brakebush Brothers, a value-added chicken company with about $1.2 billion in yearly sales, for roughly $1.055 billion. The deal should add to earnings per share from fiscal 2028 and strengthens its Foodservice business, its best-performing unit. Investors see growth ahead.

    This is the biggest new strategic move of the period and a clear positive for future growth.

  • New CEO and CFO take over as Hormel reshapes its portfolio John Ghingo becomes CEO on October 26 and Ash Bhumbla, formerly of Tyson Foods, is the new CFO. Both arrive as Hormel sells its Brazil operations and exits some private-label snack nuts. New leadership could sharpen execution, but the direction is unproven, so the market waits and sees.

    Leadership changes and portfolio reshaping are a major force behind Hormel's story this period.

August 2026
▲2▼1

Hormel's profit holds up but sales shrink; new CEO bets $1B on chicken

  • Sales keep shrinking and guidance was cut Hormel's quarterly sales fell 2.4% to $2.96 billion and missed forecasts, with volumes down 7.4%. Management cut its full-year sales outlook to about $12.1-12.2 billion, citing cautious shoppers, weak nut sales and high freight costs. Falling sales and a weaker top line pull the stock down.

    The revenue miss and lowered sales guidance are the core reason the stock fell this period.

  • Profits beat and profit outlook was raised Even with weaker sales, Hormel earned $0.37 a share, beating estimates, and raised the bottom of its full-year profit guidance to $1.45-$1.51. Cost cuts, including an 18% drop in advertising, lifted adjusted operating margin to 9.0% from 8.4%. Better profits support the stock.

    This is the main counterweight: earnings and margins improved even as sales fell.

  • $1.055 billion deal to buy chicken maker Brakebush Hormel agreed to buy Brakebush Brothers, a value-added chicken company with about $1.2 billion in yearly sales, for roughly $1.055 billion. The deal should add to earnings per share from fiscal 2028 and strengthens its Foodservice business, its best-performing unit. Investors see growth ahead.

    This is the biggest new strategic move of the period and a clear positive for future growth.

  • New CEO and CFO take over as Hormel reshapes its portfolio John Ghingo becomes CEO on October 26 and Ash Bhumbla, formerly of Tyson Foods, is the new CFO. Both arrive as Hormel sells its Brazil operations and exits some private-label snack nuts. New leadership could sharpen execution, but the direction is unproven, so the market waits and sees.

    Leadership changes and portfolio reshaping are a major force behind Hormel's story this period.

Latest
▲2▼1

Hormel's profit holds up but sales shrink; new CEO bets $1B on chicken

  • Sales keep shrinking and guidance was cut Hormel's quarterly sales fell 2.4% to $2.96 billion and missed forecasts, with volumes down 7.4%. Management cut its full-year sales outlook to about $12.1-12.2 billion, citing cautious shoppers, weak nut sales and high freight costs. Falling sales and a weaker top line pull the stock down.

    The revenue miss and lowered sales guidance are the core reason the stock fell this period.

  • Profits beat and profit outlook was raised Even with weaker sales, Hormel earned $0.37 a share, beating estimates, and raised the bottom of its full-year profit guidance to $1.45-$1.51. Cost cuts, including an 18% drop in advertising, lifted adjusted operating margin to 9.0% from 8.4%. Better profits support the stock.

    This is the main counterweight: earnings and margins improved even as sales fell.

  • $1.055 billion deal to buy chicken maker Brakebush Hormel agreed to buy Brakebush Brothers, a value-added chicken company with about $1.2 billion in yearly sales, for roughly $1.055 billion. The deal should add to earnings per share from fiscal 2028 and strengthens its Foodservice business, its best-performing unit. Investors see growth ahead.

    This is the biggest new strategic move of the period and a clear positive for future growth.

  • New CEO and CFO take over as Hormel reshapes its portfolio John Ghingo becomes CEO on October 26 and Ash Bhumbla, formerly of Tyson Foods, is the new CFO. Both arrive as Hormel sells its Brazil operations and exits some private-label snack nuts. New leadership could sharpen execution, but the direction is unproven, so the market waits and sees.

    Leadership changes and portfolio reshaping are a major force behind Hormel's story this period.

Soybean Meal Futures (SOYMEAL.COMM)

Q3 2026
▲2▼2

Soymeal swings on weather, China demand, and record crop outlook

  • Dry July weather and strong export demand Early in the quarter, dry July weather and strong export demand, including large Chinese purchases, lifted soymeal prices.

    This explains the early price support from weather and demand.

  • Late-July selloff on crude oil and speculative positions A late-July broad selloff, triggered by falling crude oil and heavy speculative long positions, pressured the soy complex.

    This identifies a key negative force during the quarter.

  • Record U.S. crop and weak export sales From August through early October, favorable Midwest weather and forecasts for a record U.S. soybean crop weighed on prices, as did weak soymeal export sales and rising South American supply.

    This highlights the main bearish factors that kept prices rangebound.

  • Continued Chinese buying and slipping crop ratings Offsetting bearish factors, continued Chinese buying and slipping—though still adequate—crop condition ratings provided support, keeping soymeal prices rangebound.

    This shows the counterweight that prevented further declines.

August 2026
▼2▲1

Weather, Big Crops and Chinese Buying Keep Soymeal Choppy

  • Favorable weather and big crop forecasts weigh on prices Rain across Midwest growing states and forecasts for a large US soybean crop (53 bushels per acre, 4.47 billion bushels) point to ample supply. More soybeans mean more soymeal, which pushes prices down.

    This is the main supply-side force pushing soymeal lower during the period.

  • China's purchases of US soybeans support prices China bought 488,000 metric tons of US soybeans and later another 340,000 metric tons, signaling strong demand. When a big buyer steps in, it lifts soybean and soymeal prices.

    Chinese demand is a key positive force for soymeal prices.

  • Crop condition ratings slip but remain adequate US soybean condition ratings fell from 65% to 58% good-to-excellent over the period, with declines in key states. Worse crop health can trim supply and support prices, but ratings are still not disastrous.

    This shows a counterweight to the big-crop narrative, adding uncertainty to supply.

  • Weak soymeal export sales and rising South American supply US soymeal sales of 114,733 metric tons missed expectations, and Brazil's crop estimates were raised repeatedly. More South American soybeans and soft US meal demand add pressure to soymeal prices.

    This highlights demand weakness and global supply competition weighing on soymeal.

Latest
▼2▲1

Weather, Big Crops and Chinese Buying Keep Soymeal Choppy

  • Favorable weather and big crop forecasts weigh on prices Rain across Midwest growing states and forecasts for a large US soybean crop (53 bushels per acre, 4.47 billion bushels) point to ample supply. More soybeans mean more soymeal, which pushes prices down.

    This is the main supply-side force pushing soymeal lower during the period.

  • China's purchases of US soybeans support prices China bought 488,000 metric tons of US soybeans and later another 340,000 metric tons, signaling strong demand. When a big buyer steps in, it lifts soybean and soymeal prices.

    Chinese demand is a key positive force for soymeal prices.

  • Crop condition ratings slip but remain adequate US soybean condition ratings fell from 65% to 58% good-to-excellent over the period, with declines in key states. Worse crop health can trim supply and support prices, but ratings are still not disastrous.

    This shows a counterweight to the big-crop narrative, adding uncertainty to supply.

  • Weak soymeal export sales and rising South American supply US soymeal sales of 114,733 metric tons missed expectations, and Brazil's crop estimates were raised repeatedly. More South American soybeans and soft US meal demand add pressure to soymeal prices.

    This highlights demand weakness and global supply competition weighing on soymeal.

July 2026
▲2▼2

Soymeal swings on weather, export demand, then broad selloff

  • Dry July weather lifted soy complex Forecasts for a dry start to July in key U.S. growing areas raised concerns about the soybean crop, pushing soybean and soymeal futures higher. Less rain can shrink the crop, tightening supply and supporting soymeal prices.

    Weather is a major supply force that pushed soymeal up early in the period.

  • Strong export demand for soybeans and meal U.S. soybean export sales hit multi-week and marketing-year highs, with big purchases from China and unknown destinations. Soymeal sales also stayed within trade estimates. Strong demand for beans supports soymeal because meal is a key product made from crushing soybeans.

    Export demand is a core demand driver that supported soymeal prices.

  • Late-July broad selloff in soy complex Soybean and soymeal futures plunged as crude oil tumbled and speculative traders held a large net long position, triggering a wave of selling. A sharp drop in energy prices can reduce demand for soy-based biofuels, adding pressure to the whole soy complex.

    This was the period's biggest price-moving event, dragging soymeal sharply lower.

  • China to auction state soybean reserves China's state-owned Sinograin will auction 504,000 metric tons of imported soybeans. If the auction supplies the market, it could reduce China's near-term demand for imported U.S. soybeans, softening demand for soymeal and weighing on prices.

    This new supply event could reduce demand for U.S. soybeans and soymeal.

▲2▼2

Soymeal swings on weather, export demand, then broad selloff

  • Dry July weather lifted soy complex Forecasts for a dry start to July in key U.S. growing areas raised concerns about the soybean crop, pushing soybean and soymeal futures higher. Less rain can shrink the crop, tightening supply and supporting soymeal prices.

    Weather is a major supply force that pushed soymeal up early in the period.

  • Strong export demand for soybeans and meal U.S. soybean export sales hit multi-week and marketing-year highs, with big purchases from China and unknown destinations. Soymeal sales also stayed within trade estimates. Strong demand for beans supports soymeal because meal is a key product made from crushing soybeans.

    Export demand is a core demand driver that supported soymeal prices.

  • Late-July broad selloff in soy complex Soybean and soymeal futures plunged as crude oil tumbled and speculative traders held a large net long position, triggering a wave of selling. A sharp drop in energy prices can reduce demand for soy-based biofuels, adding pressure to the whole soy complex.

    This was the period's biggest price-moving event, dragging soymeal sharply lower.

  • China to auction state soybean reserves China's state-owned Sinograin will auction 504,000 metric tons of imported soybeans. If the auction supplies the market, it could reduce China's near-term demand for imported U.S. soybeans, softening demand for soymeal and weighing on prices.

    This new supply event could reduce demand for U.S. soybeans and soymeal.