Dave’s Weekly Market Update – October 26, 2020

Good day to all!
The egg market dropped .02 today as supplies are surpassing demand. I expect to see more next week.
Butter dropped some this week and gave back some of last week’s gains. I still feel that we will see the market remain in the $1.40 to $1.50 range until after the Holiday demand dies down.
Cheese is still rising. The Barrel market is closing the spread by its rapid rise. The spread has narrowed to .37 cents. This is still too high as both types of plants buy milk at the same price and the Barrels are selling for so much less.
I was surprised that the Block is still rising. At some point, there will be a correction but I am not sure when. If the government announces an extension of the Farms to families Food Box program it will probably stay high as current yellow cheddar blocks are extremely tight. This is what is traded at the C.M.E and drives the market.. I feel that the markets may begin to correct by the end of next week but time will tell. 
We hope you have a safe and relaxing weekend as always we appreciate your continued business.

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Honor Foods, a Burris Logistics Company, was founded in 1949 as a redistributor of center-of-the-plate foods. Since then, Honor Foods has grown into the Mid-Atlantic region’s premier provider of frozen, refrigerated, dry, and dairy products, representing more than 300 brand-name food suppliers and carrying more than 3,000 in-stock items. Honor Foods brands R.W. Zant and Sunny Morning provide additional beef and dairy expertise on the West Coast and in the southeast. In addition, our exclusive house brands — Colony Lane and Valley Fresh, have a well-earned reputation for top quality and value at competitive prices.

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