Good afternoon to all,
Eggs dropped in a big way this week. Supplies are “burdensome”. Always a crazy market overreacting in both directions. We are hearing the drops will continue, but at a slower pace.
Butter broke through the glass ceiling this week by closing over the $3.00 mark. Cream has been so tight that many are just selling the cream at high multipliers rather than churning butter.
I still feel that there is more to come and we will probably not go much below the $3.00 mark and will see higher numbers. Let’s see if my crystal ball is working or not. Crazy times trying to guess the markets.
Both the Block and the Barrel dropped aggressively this week. The close is lower than the average so chances are prices will dip again next week. Not a great time to have millions of dollars tied up in cheese but we need to keep you supplied.
A note on the Hilldale cheese by Land O Lakes. They are cutting all orders by around 50% now and we are experiencing some shortages. They are claiming it could last the whole month of August.
14095 Blassers muenster by Ellsworth Creamery Make us an offer!
We have both Deb El and Sommer Maid liquid eggs we are trying to move also.
Please talk to your sales rep about these products.
All of the Honor Foods companies thank you for your continued business. Stay cool and have a great weekend!
The egg market is starting to correct and I expect a substantial drop next week.
Butter continues to dance around between $2.90 and $3.00 and I believe that will continue.
Both Block and Barrel have bounced around and ended up dropping again for next week. Just like last week, if there are no changes the markets will be lower as the close is below the average. Demand is weakening on all fronts as inflation is seemingly taking a bite out of peoples budgets.
I have a special on Blasser muenster made by Ellsworth Creamery. Please ask your rep about this and we are dealing below market pricing on this. We have about 400 cases and are making deals.
Galbani Professionale WM shredded mozz.
We are still making deals on this top of the line shred. Please ask your rep about this.
The entire team wants to thank you for your continued business and wish you a great Summer weekend!
Good afternoon to all,
Once again, weekly Urner Barry markets continued increasing on all Lg, XL & Jumbo sizes for next week, but now Mediums have joined the move upward. Most birds lost to HPAI are still out, but heat continues taking its toll on all by reducing egg sizes. Retail demand is good, Food Service is strong and further processors are actively buying shell eggs while exports are not a significant factor in the current market. We keep expecting the Large plus market to level out soon, but not quite yet.
Butter continues to bounce around in the $2.90 to $3.00 range and I feel it will continue to do so. The movement has been strong at the CME again this week. Demand is softening somewhat but tight supplies should keep the market firm.
Both Blocks and Barrels dropped this week. Slowing demand from the retail sector and on the export front are leading the market downwards. If nothing changes we will see both markets drop again next week.
Land O Lakes is still shorting all sizes of sliced by around 50%. Hopefully they will be back on track within the next 2-3 weeks.
We still are offering the Galbani Professionale WM shredded mozz at a great discount if you buy pallets. This product does cut well against Grande and other premium brands.
The whole Honor/Sommer Maid team thank you for your continued business. We have been working hard to integrate the Sommer Maid business into the Honor Foods building.
We hope you have a safe and relaxing summer weekend. Stay cool!
The larger sizes of eggs are in short supply and I believe are at record high prices. I think we will continue to see increases in the larger sizes.
Almost 2.5 million pounds traded hands so far this week which is huge volume. Demand seems to be waning some at the retail level and this may be what is causing this week’s decline. I do not feel that prices will drop much more but time shall tell.
The cheese markets dropped today but had been fairly stable the rest of the week. At least Blocks are higher than barrels so the spread is somewhat proper. As an FYI Land O Lakes has been cutting orders by about 50% and this is causing shortages. 120 count yellow is unavailable at the moment.
We have an opportunity buy for you on Galbani Professional WM shredded mozzarella. Please ask your salesperson for pricing. This is a super premium mozzarella and performs well against Grande.
We all hope you have a safe and relaxing weekend. As always the team wants to thank you all your business and support!
Good afternoon to all,
Eggs are still in short supply with the exception of mediums. The increases are moderating, but I do not think we are done.
Butter rose last week and then dropped back on Tuesday. I do not think it will drop much more as the supplies are down and expected to be short in the 4th quarter.
Cheese, just like butter rose last week then backed off on Tuesday. Now the Barrel is .1025 higher than the Block, which is not sustainable. I know that the markets are high and inverted, but it is hard to guess how they will settle out. Demand is slowing somewhat as higher prices start to cause pushback at the retail level. Food service has been strong, but soon I feel things may constrict somewhat as restaurant prices have risen so much that peoples budgets are being stretched. The supply chain issues are also affecting things. Manufacturers are having a hard time getting the labor to process everything. Land O Lakes for example has been cutting every trailer by around 33%. AMPI who produced the Dinner Bell line is allocating so much that we can not keep it in stock. Many of the non dairy vendors are experiencing the same situation.
New things happening at Honor Foods:
The Honor Foods team as we incorporate the Sommer Maid team have been working so hard to integrate the two companies. Inventory has been rolling into the building at a rapid pace. The service levels to the Sommer Maid customer base has been improving dramatically and it will get even better in a short time. At some point in the near future we will start cross selling each other’s items and be able to provide you with more items than ever before.
All of us want to thank you for your business and support.
Have an awesome Summer weekend.
Good afternoon to all,
The egg market is rising aggressively this week as more A1 bird flu unfolded last week in Colorado. There have been about 32 million birds that have tested positive and killed. Demand is rising which is typical around the 4th of July and inventories are becoming tight on the larger egg sizes.
Butter has traded actively this week at the CME and dropped a few cents. I am still hearing the prospects of shortages and record high prices in the 4th quarter.
The cheese markets dropped substantially today at the CME. I am trying to get some info on why the drastic change. I know there is pushback on the retail level over higher prices. Was there that big a drop in retail demand which caused this? Food service demand has been strong even with rising restaurant prices. People are still out there spending money. Will yesterday’s interest rate hike and today’s stock market correction cause this to change as people start to take notice? I am unsure but time will tell.
Sommer Maid is now part of Honor Foods!
We want to welcome the Sommer Maid team into the Honor Foods team.
We are all working hard to merge these 2 businesses and add the Sommer Maid brand to our portfolio. This is very exciting for all of us and opens up more opportunities for you, our valued customer base. It will also expand the geographical reach of Honor Foods in time.
All of the newly expanded Honor Foods team thank you for your continued business. We wish you a safe and relaxing weekend.
There will not be an update next week as I will be away.
The egg market is starting to drift lower, With the aftermath of A1 bird flu I do not expect much of a drop in this market. Flocks need to be rebuilt and this takes time.
Butter prices are the highest they have been since 2015. The record was $3.135 set in 2014. I am unsure if we will surpass that level, but there is still talk about looming shortages in the 4th quarter of this year.
Both Block and Barrel dropped again this week. There is resistance to pricing at the retail level and this may be the cause of the drops due to a slowdown in consumption.. The world market is still strong and exports have been prevalent. If nothing changes next week there will be more declines.
Tyson is coming!
Please ask you Honor Salesperson for details!
As always all of us at Honor Foods want to take the time to say a heartfelt thanks for all the business and support you all give us!
Have a safe and relaxing weekend.
Prices are rising at the fastest pace in decades, creating a cost-of-living crisis that’s forcing people around the world to make tough choices about what to buy. The United Kingdom is no exception: inflation hit a 40-year high of 9% in April and is forecast to peak above 10% toward the end of this year. The high cost of fuel and heating is just part of the problem. Food prices have also leaped, climbing nearly 7% compared with a year ago, according to data released Wednesday. https://www.cnn.com/2022/05/18/business/dairy-farmers-food-inflation/index.html
Good afternoon to all!
The egg market is trying to stay where it is at the moment. The A1 bird flu is abating as the migration season is winding down. There is a shortage of cage free eggs which is making it difficult for distributors in Mass who are mandated to sell only cage free eggs. My best guess is that eggs will probably stay in this range for the near future but time will tell!
Butter has been steadily climbing until today when it gave back .005. There were 29 loads that changed hands so far this week. I do not expect it to drop much if at all. Supplies are tight and the multiples for cream are very high due to so much competition for the cream. Ice cream manufacturers are busy and the demand for cream and butterfat is just high at the moment.
For the first time in months cream is dropping from some manufacturers. There also seems to be supply issues in the Northeast and we are getting slammed. 40% is in very short supply and by mid week we will run out unfortunately.
Tyson Foods is coming to Honor foods!
Honor Foods is very excited to be bringing in the Tyson line starting in mid June. Please ask your salesperson for all the details! We will be starting with a small portion of the line and look forward to expanding the line rapidly as we move forward.
We all thank you for your continued business in these trying times. We wish you a safe and relaxing holiday weekend.
The market is still correcting and dropping significantly on shell eggs. As a note the processed eggs have not begun to decline yet. Cage free eggs continue to be in short supply and we are forced to allocate them.
Butter is coming close to the all time high. There was significant volume traded at the CME this week. I believe we will see higher prices next week also.Please keep in mind that we offer Beaver Meadow as well as Cabot.
Both markets edged higher this week. Barrels did back down some today but the average for the week is still higher. LOL has raised their overages again so you will see Hilldale jump more than other American cheese items.
As always we at Honor Foods thank you for your valued business. We know there are many options out there so we really appreciate the opportunity to serve you.
Have a safe and relaxing weekend.