Dave’s Weekly Market Update – August 6, 2020

Good afternoon to everyone.

The egg market remained flat all week. The jumbos have been hard to get due to the recent heatwave.

Butter bounced around this week with a big drop on Tuesday. It has since rebounded but still is down for the week. There were about 2.5 million pounds traded at the CME this week. That is the highest volume I remember in a long time. Business is quiet out there and I feel that is one of the factors weighing on the market.

Both Block and Barrel had huge drops this week with good movement at the exchange. There were over 1 million lbs of cheddar sold and 600,000 lbs of American. We are doing our best to lower prices as quickly as we can be based on inventory here and what is rolling. We will see more drops next week as the averages are much lower than the close of the days trading.

We all thank you for your continued business and hope you and your families have a safe and relaxing weekend.

About Honor Foods

Honor Foods, a Burris Logistics Company, was founded in 1949 as a redistributor of center-of-the-plate foods. Since then, Honor Foods has grown into the Mid-Atlantic region’s premier provider of frozen, refrigerated, dry, and dairy products, representing more than 300 brand-name food suppliers and carrying more than 3,000 in-stock items. Honor Foods brands R.W. Zant and Sunny Morning provide additional beef and dairy expertise on the West Coast and in the southeast. In addition, our exclusive house brands — Colony Lane and Valley Fresh, have a well-earned reputation for top quality and value at competitive prices.

Great products and prices are just part of the Honor Foods value-add. We pride ourselves in having a Team of dedicated professionals who manage each partnership. Our commitment to your business needs is what makes us unique.