Dave’s Weekly Market Update – July 24, 2020

     The egg market drifted lower again this week but the tone of the market is “attempting to settle”. I would expect it to be fairly stable next week. There are a lot of eggs out there as the breakfast business has not really regained any traction.
      Butter bounced up some today and ended up .02 since last Thursday. There seems to be a good supply of butter around and food service demand is lackluster. I do not see any big changes on the near horizon.
      The cheese market is correcting some but we are not seeing the big drops that some were expecting. The spread between Block and Barrel has narrowed and now there is only about a .14 spread.   That is the lowest in quite a while. Blocks are still tight and I feel that it might slowly drop as the government Food Box program is drawing a lot of cheese out of the market place. Barrels (American cheese) keep inching upwards helping to close the gap.
Swiss Cheese:
     The market on Swiss is rising due to the huge increase in the cost of milk in the past 2 months. Ask your salesperson about the great opportunities we can now offer with the new label we got in this week. We have both 2/8# sandwich cut and 2/14# Wide (deli) cut.
All of us at Honor Foods as always thank you for your continued business. We wish you all a safe and relaxing weekend.