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Good Afternoon and Happy Thursday!
The egg market is gradually rising this week as demand returns as more school systems reopen. It is nice to see it be gradual instead of the usual over reaction that the market normally does. I expect more next week and hope it stays moderate. Here is the recap from Urner Barry.
Can anyone use 57 cases of Sommer Maid 15/2 whole liquid eggs dated 9/7 for $1.00 lb? This is an opportunity for anyone who can use them quickly.
1.5 Million pounds changed hands at the CME this week and drove the market up. The future market on butter is $3.0475 for September and $3.00 for October. As I have been stating this market will probably remain high until late October.
Both Block and Barrel declined this week. People are switching to lower cost options at the retail level (possibly explaining the jump in Barrels last week) and food service demand has weakened somewhat.
We have plenty on hand of most SKU’s on cream cheese and we have lifted most of the allocations we were forced to impose due to our lack of supply. It does seem that things are loosening up. Please ask your rep about opportunities and some items we can negotiate on to help you move more product.
Frank Wills is retiring today!
Frank has been a major factor at Honor Foods for many years and today he sails off into retirement. We all wish him the best in his retirement years and want to thank him for his tireless efforts over the years to serve many of you! He will be missed by all!
We wish you a safe and relaxing weekend and as always thank you for your business!