Dave’s Weekly Market Update – March 4, 2021

Good day!

The egg market started rising on Tuesday and supplies are somewhat tight. This was a quote from Urner Barry who is the basis for the egg market.

Weekly Urner Barry quotes for next week are up sharply on all sizes. Continued storms, exports, efforts to get products back into storm damaged areas, and building inventories for Easter is driving the market up in a fairly typical fashion. The gradual come-back in foodservice also drives the market. As Easter approaches, we expect upward pressure on the market to continue.

On Monday of this week, the total national shell egg inventory was down 6.7% compared to last week and down 6.0% vs a year ago. This trend is the opposite of where it should be doing.

Butter has still been aggressive this week but did drop back about .04 in the last 2 days. I am still of the belief that markets will stay strong. Retail orders for Easter baking started this week as the grocery chains gear up for the upcoming holidays. There have been 31 loads traded this week. That is a strong statement about what people feel about the pricing at these levels.

Blocks have been steadily rising this week and ended up .05 higher for next week. Barrels rose some today with the average ending up .02 for the week. Cold storage of cheese dropped as retail demand has been strong. Overall volume is starting to rise in foodservice as more states begin to reduce the COVID restrictions.

Cabot Creamery has announced a price increase going into effect on March 15th for both commodity cheeses and cultured items. I am sharing that with you as we try to keep you apprised of market conditions.

60/40 AAK Butter Blend:
I am looking to move some of this product as volume has dropped due to lower butter pricing. Now might be a good time as butter has risen dramatically in the past few weeks. If you can use a quantity of this, we can offer $1.49 lb. Please let us know! This product is in Springfield but can be available for Philly customers with an extra day or two lead time.

Thank you for your continued business and we all wish you a safe and relaxing weekend.

About Honor Foods

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.

Great products and prices are just part of the Honor Foods value-add. We pride ourselves in having a Team of dedicated professionals who manage each partnership. Our commitment to your business needs is what makes us unique.