Dave’s Weekly Market Update for 5/3/24
Valuable insights on the latest market price changes for eggs, butter, cheese, and cream products.
Last Update: Week of April 25, 2024
Eggs:
The market is still correcting but the declines have slowed down on a daily basis as the market tries to settle. It is still a huge drop though. I am guessing we will see more declines next week, but it should slow down.
Butter:
Butter rose a few cents yesterday and jumped over 5 today with 23 loads changing hands just today! There is still fear of shortages and higher prices for the 4th quarter. I feel that is what is keeping this market high. FOMO (fear of missing out!) Futures keep rising also. See below.
Cheese:
The cheese markets are still strong, especially Barrels which jumped over 8 cents on Tuesday. There is a big inverse spread of almost .10. Cold storage reports showed that there was less inventory on hand than expected. I do not know if demand will keep the prices this high, but time will tell.
Cream and Cream Cheese:
As I have been saying, these prices are rising this week due to butters constantly rising prices.
We all want to thank you for your business and helping us grow as we have done in the past year!
Have a great weekend!
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