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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 market is continuing its rapid decline and declined double digits on a daily basis up until today when it started slowing down . There have been some spot loads trading well below the current market as demand has slowed and supply has increased. The market is still soft but I feel next week’s declines will be much smaller.
The butter market dropped again this week with only one load trading hands. I take this to mean that people are waiting for lower markets. The futures for February are around $2.33.
Both Block and Barrel dropped considerably this week. Both closed lower than the average so I think we will see more next week. World prices for cheese have been lower than domestic pricing and exports are slowing. Inventories are building in cold storage as demand is beginning to slow down. The holiday push is over and food service is starting to feel the pinch of rising inflation and less discretionary income.
Caputo grated Romano: We are still pushing this at $2.25 lb. Great product at a great price.
The supply of cream has still been brutal, especially on the 36%. The marketplace is getting more competitive and we have better prices to offer you. 40% is in great supply and there are some opportunities available. Please ask your rep if you have not been buying your cream from us.
We all want to thank you for your business and continued support. We hope you have an enjoyable 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.