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Happy Thursday to all.
The eggs hit bottom this week as demand is picking up removing the excess supplies from the marketplace. As schools begin to open down south the demand is increasing and as of yesterday the smaller eggs were trending upwards. My thoughts are that we will see a modest increase next week.
Once again butter has bounced around and ended up dropping a couple of cents. I still expect the market to bounce around in this range for the near future. 38 loads or 1.52 million lbs of butter changed hands at the CME this week.
Both Block and Barrel rebounded a little this week and there are increases on both. We were able to lower the Hilldale slices by Land O Lakes this week. They are still cutting loads by 50% and inventories have been tight. As of this morning we did have a little stock on all 4 items. I have many loads rolling to try to keep the pipelines full, It was a quiet week at the CME on cheese with only 8 loads changing hands. Barrels are still trading higher than blocks as of today. Exports of cheese have increased as we are less expensive than the world market. I feel this caused the uptick in the markets as demand is not so robust. There is a big pushback from the retail sector due to the much higher prices that they have been forced to go to market at. Consumers are pushing back.
We do have a better supply of cream cheese so please ask your rep about it. Smithfield, Schreiber, Sommer Maid and Franklin Farms,
Thanks so much for your continued business. Everyone on the Honor Foods team wishes you a safe and relaxing weekend.