Dave’s Weekly Market Update for 07/19/24
Valuable insights on the latest market price changes for eggs, butter, cheese, and cream products.
Last Update: Week of July 19, 2024
Eggs:
The egg market has turned around and is now increasing. I am unsure if it is the new outbreaks of HPAI or the extreme heat that are causing the jumps. So far, the movement has been reasonable, but judging by past history, that will probably change.
Butter:
Butter has been up slightly since last Thursday in unusually heavy trading. 21 loads changed hands today, dropping the market .025 from yesterday’s close. More of the same is expected to follow. I am somewhat surprised that it backed off with the extreme heat affecting cow comfort and the demand for ice cream, increasing the demand for cream.
Cheese:
Both Blocks and Barrels trended down this week, but Barrels have been rebounding upwards. Once again, the Barrel market has surged above the Blocks. The trading volume on both has been above 20 loads of each. I am unsure as to what the markets will actually do at this point.
Maybe this will help stabilize the markets, but I am beginning to believe that is no longer possible!
Cream and Cream Cheese:
At this point, it seems like the cream price increases have slowed way down. It looks like only a few pennies per quart of an increase is coming our way for August. Cream cheese also has somewhat stabilized with no movement this week.
Dairy opportunity buys in the Dairy world:
We all thank you for your continued business and hope you have a safe and relaxing Summer weekend.
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