Dave’s Weekly Market Update – November 5, 2020

Happy Thursday to all.

The egg market remained unchanged again this week but retail demand is picking up.

Butter rebounded this week after dropping .04 last Friday. I am hearing that butter will drop after Thanksgiving.

With the resurgence of COVID and the closing of outdoor dining in the colder northern states, retail demand will slow down, and foodservice demand is still low and not expected to rebound quickly.

The Block market is finally correcting itself and we saw a large drop this week. The spread has narrowed to what used to be the traditional tight range.
There is only a $0.01 difference now when it was close to $1.00 in September. The Barrel market was actually higher this week, but I did not have it in me to go up in the declining market.

Looking at the above info, it is clear that the block market will certainly be lower next week as the close is much lower than the average.

We all thank you, and as always, hope you have a safe and relaxing weekend.