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Dave’s Weekly Market Update – October 24, 2021
Honor Foods Philadelphia
Happy Thursday. II is a beautiful day in the North East!
As holiday demand has not yet hit the retail sector, there are still a lot of eggs available. Farmers are reluctant to shrink their flocks since demand should pick up shortly. For further processed eggs, the market is up. Commercial baking is in full swing as the holiday season approaches. The liquid egg market has been higher as a result.
Butter prices jumped this week as retail demand (into wholesalers for retail markets) was strong. 21 loads traded hands. There was only one offer today at $1.90, but no one bought it. Butter is considerably more expensive on the world market than on the domestic market. Next week, we may see a bit more growth, and then the trend will begin to shift downwards by the end of the month.
We now have stock levels back up and we also have Bryne products in stock. All four varieties are available. Half and Half, both 36% and 40% Heavy Whipping Creams as well at Light cream. We also have aggressive pricing on 12/15 oz Classic cream whipped cream.
Despite dipping recently, the Block market did bounce back a little on Monday. Barrels also showed some strength. The spread is very close, back to historical levels. Cheese exports are booming, with Mexico being our largest trading partner right now. Markets should stay in this basic range for a while as holiday demand for retail is starting to build.
Honor Foods has a buying team that searches the world for opportunities for you. The supply chain is tight right now, but we’re procuring new products for you every day thanks to our new building and buying power. Is our competition out? Get in touch with your Honor salesperson if they can help you out!
I hope you have a relaxing and enjoyable weekend as we thank you for your continued business.