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Weekly Market Information
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Dave’s Weekly Market Update – October 30, 2020
Honor Foods Philadelphia
Honor Foods Springfield
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 with 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. 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.
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.