Dave’s Weekly Market Update – June 18, 2020

Happy Thursday to all.

Again this week, more restaurants are opening up. Here in MA, CT, and RI we only have outdoor dining but some have opened their indoor dining but at a reduced capacity. There have been volume increases, but nowhere near pre COVID levels. Many states that have reopened have had increases in newly reported infections. There may just be more testing, or it could be due to the lack of social distancing with all the protests and openings. Hopefully, the masses all act intelligently and we all stay safe.

The white egg market was stable and in balance. The brown eggs have been correcting and dropping. They are still much higher than whites.

Butter did drop some this week and maybe found some stability around this level.

The cheese markets are still strong. We at Honor Foods are still priced slightly below the markets as we never fully adjusted to the record high market. There is a .22 spread between Block and the Barrel as opposed to what used to be the normal of .02 to .04. At some point, the markets have to correct some.
The government did extend the food box program into August and milk volumes are seasonally dropping in the Summer (almost!) heat. This may cause the correction to be delayed and slower than many would expect.

Opportunity buys on AMPI American cheese
We have some loaf real American Cheese loaves, both white and yellow that we can offer at discounted prices.
We also have AMPI 120ct sliced yellow American that we can offer some great deals on. Please ask your salesperson about these opportunities.

We all hope you have a safe and relaxing weekend as we enter Summer.
As always, thank you for your continued business and support.

Stay Safe!