Dave’s Weekly Market Update

Happy Friday!

 

Eggs:

The egg market remained steady this week. Retail demand is sluggish and foodservice demand for breakfast is just not back to pre-pandemic levels. Next week should be more of the same.

Butter:

After a slight increase on Monday, butter prices were steady. In my opinion, we will remain within this range unless a major heatwave affects volume and component values. (When it gets extremely hot, cows drink more water and fat levels drop).

Cheese:

Although the Block was relatively steady, the Barrels were quite erratic. We should see a decline in the barrel price to help close the inverse spread in the market. As shown above there were 28 loads traded thus far this week, meaning that there were people willing to buy earlier this week, but now they will only buy at lower levels. Next week, both markets will see lower prices if nothing changes.

 

60/40 AAK Golden Delicious  Butter Blend 6/27 sell-by date

 

We are looking to move 70 cases on deal to someone. Does anyone have a good volume customer on it who would freeze it and use it at a value price?  Please inquire, we would appreciate your help.

 

Supply Issues:

It is impossible to imagine a segment of the distribution business that is not affected. The manufacturing sector is facing a multitude of challenges. The biggest obstacle was the inability to hire enough employees to handle all of the business. This is causing suppliers to extend their lead times and causing cutbacks and allocations. Package shortages are causing further delays and cuts. At Honor Foods, we are always on the lookout for new alternative products to ensure that you and your customers are well stocked with what you need.

 

All of us at Honor Foods thank you for your business and wish you a safe and relaxing weekend.