Dave’s Weekly Market Update – August 16, 2021

Good afternoon to all:

The egg market has suddenly tightened up and is rising aggressively. I would expect double-digit increases next week also.
This week, butter has bounced around a little and ended up slightly higher. We now have a secondary label of butter that is more aggressively priced.
Above you can see how aggressive this week’s Block market was. There were no offers, just a few sales that pushed it back up. Barrels also rose aggressively at the beginning of the week. Spreads rose to .37 cents this week. Due to this, I am curious to see where the markets settle.
Supply Chain Issues:
During my 40 years in the foodservice industry, I have never experienced shortages or delays like these. Food inflation continues to rise as manufacturers raise prices to cover the increased costs of doing business.  Freight has increased dramatically, packaging costs are skyrocketing, and companies are raising wages and offering sign-on bonuses to attract and retain employees. We all, unfortunately, need to get used to the shortages we are experiencing. In the face of shifting or discontinuing brands, customers are starting to recognize the need for flexibility. They are forced to fill in with other products. As we work through these unprecedented times, Honor Foods is constantly sourcing alternatives to offer to you. Contact your  Honor salesperson if you are experiencing shortfalls with your current suppliers.
As always we thank you for your business and wish you a safe and relaxing weekend.