Dave’s Weekly Market Update – April 29, 2021

Good day to all.

The market is still burdened with an excess supply of eggs. Hopefully,  it will stop dropping soon as producers are losing money at this point. Grain and soy meal are way up which are the major components of the feed. Costs are rising as some states are going towards all cage-free eggs which take more space and therefore costs more.

Butter rebounded this week after last week’s big drop. I am unsure of the next move.

Both Block and Barrel edged up slightly this week. There was not a very large amount of activity at the CME on these items this week.

Cream rose sharply as the butter has trended higher. Demand has also picked up on it.

The oil market is at the highest it has ever been. Supplies are way down and export demand is very high. Crazy times!

We all thank you for your continued business and wish you all a safe and relaxing weekend.