Dave’s Weekly Market Update — June 23, 2023

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.

Eggs:

Once again the egg market has remained at the same level. I hope it continues!

Weekly CME Cash Dairy Product Prices June 23, 2023
Weekly CME Cash Dairy Product Prices June 23, 2023

Butter:

Butter had drifted lower but rose today and ended up .01 higher than last Thursday. My feelings are still the same. If there is a heat wave I believe prices will rise as milk volume and components would go lower. Otherwise I feel we are range bound in this general area. With Summer officially here, ice cream season is in full swing.

Cheese:

Did the Block finally find a bottom? Only 11 loads traded hands and no loads were offered today. We were at the lowest market in 3 years. Milk is still being sold at a discount out West, and I have heard some saying that some milk was being dumped as plants were full and had nowhere to go with the milk.  The Barrel dropped slightly but is still higher than the Block. I would expect the Barrel to drop some to try to close the gap. I do not see Blocks jumping much as demand is somewhat quiet and milk is plentiful to say the least. We should expect some exports as we are lower than the world market at this point. 

Cream & Cream Cheese:

I am hearing (but no concrete numbers yet) that there may be a .01 or .02 increase per quart for July on heavy cream. The supplies of cream are readily available at this point.  We are dropping cream cheese due to the lowering of the Butter market in the past few weeks. 

Does anyone have a use for some 55 lb bulk of AMF (Clarified butter)? Do you sell large volume seafood restaurants that use clarified butter? Or, for that matter anyone who uses a lot of clarified butter. We have a few pallets we need to move. We also have some 160 ct yellow processed sliced cheddar. This is like American cheese, but is more cheddar based and more like cheddar than American. We will be aggressive with pricing on these items. Please ask your rep about these 2 items. 

All of us at Honor Foods want to thank you for your business and wish you a safe and relaxing Summer 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.

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. Honor Foods brands R.W. Zant and Sunny Morning provide additional beef and dairy expertise on the West Coast and in the southeast. 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. We pride ourselves in having a Team of dedicated professionals who manage each partnership. Our commitment to your business needs is what makes us unique.