Dave’s Weekly Market Update — August 11, 2023

Each week Honor Foods Dairy Specialist David Albert provides you with Dave’s Weekly Market Update, with some valuable insights on the most current market price changes on eggs, butter, cheese, and cream products.

Eggs:

After 2 and a half months the egg market is waking up. We had some small increases this week but the tone of the market is “steady to full steady”. Today’s market may be a telltale, if it goes up much we will see a very aggressive market next week. Schools will be opening soon and maybe the extreme heat is beginning to take its toll. 

Weekly CME Cash Dairy Product Prices August 11, 2023
Weekly CME Cash Dairy Product Prices August 11, 2023

Butter:

Butter rebounded this week with 18 loads changing hands. I feel that it is the fear of last year’s pricing that is helping to drive this market. The extreme heat has certainly tightened up the supply of cream. Multiples (the pricing mechanism for buying cream) have jumped making it costlier to procure the necessary cream to make butter. There has also been less milk as extreme heat causes stress on cows causing them to produce less milk and causes a  lower fat content, I am hearing some people say that butter could jump again this year during the 4th quarter, but time will tell. 

Cheese:

Cheese was somewhat mellow this week. Blocks ticked up slightly and barrels retracted some. I feel that cheese is too high at the moment and might back off some in the near future. So far only 4 loads of cheese have traded hands this week.The higher pricing makes the US unattractive for exports and this will slow down export demand helping to build inventories.  

We all thank you for your continued business and hope you have a great weekend!

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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. 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. In addition, we pride ourselves on having a Team of dedicated professionals who manage each partnership. Our commitment to your business needs is what makes us unique. Learn more at www.honorfoods.com.

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.