Dave’s Weekly Market Update – January 3, 2020

  Happy New Year to all of you!

     The egg market continues to adjust downwards and dropped .05 today. That usually is a strong signal that we will see a lot more next week. Demand has dropped off after the holidays and there is a surplus of eggs out there. I would expect a double digit drop again next week.
     Butter did drop some this week now that demand has dropped. My thoughts are that it will not drop anymore.  Futures went up today so I do feel it will rebound and end up around the $2.10 level within a few weeks.
     The cheese markets have been all over the place in the past few weeks. Barrels did end up dropping and the Block rose, There is a .26 spread with Blocks being higher than the Barrels. I have never seen erratic markets like this in the 39 years I have been doing this. The markets used to be somewhat predictable but those days are long gone.
We all look forward to the coming year and hope to strengthen our business relationships with all of you.  Thank you all and have a safe and relaxing weekend,