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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.
The egg market will not quit increasing as the bird flu keeps on spreading worldwide. Another 4.2 million birds were destroyed in Colorado today. Inventories are way down and demand is strong. We were amazed when the market surpassed the $3.00 mark and now we are well over the $5.00 mark. The daily increase will not let up so we can expect more. One source mentioned the possibility of a $6.00 egg market before this is over. Pretty amazing to think a 30 dozen case of eggs will be worth over $150.00 next week.
Butter rebounded from last Thursday’s big drop. I would have expected it to start correcting itself since the holiday demand is over. There seems to be no rhyme or reason to the markets anymore. It certainly has become more challenging to say the least. Futures point to about $2.50 in January, but time will tell if that really happens or not.
Blocks also keep bouncing around and the average ended up about the same today as last week. Barrels are showing weakness and we may see more next week. The spread between the two markets is huge at the moment as Barrels closed .32 lower than the Blocks.
Just a reminder about sweetened condensed milk. We have a great supply of 50 lb pails in the Sommer Maid label.
Cream continues to be a challenge to get an ample supply. We are hopeful that come January things will improve as it has been a major struggle.
The entire Honor Foods family would like to thank you for your continued business and support. We hope you have a safe and relaxing weekend as you prepare for the upcoming holidays!
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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.