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Good afternoon to all,
The egg market is rising aggressively this week as more A1 bird flu unfolded last week in Colorado. There have been about 32 million birds that have tested positive and killed. Demand is rising which is typical around the 4th of July and inventories are becoming tight on the larger egg sizes.
Butter has traded actively this week at the CME and dropped a few cents. I am still hearing the prospects of shortages and record high prices in the 4th quarter.
The cheese markets dropped substantially today at the CME. I am trying to get some info on why the drastic change. I know there is pushback on the retail level over higher prices. Was there that big a drop in retail demand which caused this? Food service demand has been strong even with rising restaurant prices. People are still out there spending money. Will yesterday’s interest rate hike and today’s stock market correction cause this to change as people start to take notice? I am unsure but time will tell.
Sommer Maid is now part of Honor Foods!
We want to welcome the Sommer Maid team into the Honor Foods team.
We are all working hard to merge these 2 businesses and add the Sommer Maid brand to our portfolio. This is very exciting for all of us and opens up more opportunities for you, our valued customer base. It will also expand the geographical reach of Honor Foods in time.
All of the newly expanded Honor Foods team thank you for your continued business. We wish you a safe and relaxing weekend.
There will not be an update next week as I will be away.