Dave’s Weekly Market Update — March 15, 2024

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:

Eggs hit bottom this week and are now beginning the Easter rise. Time will tell if the increases will be reasonable or stupid as is normally the case with Urner Barry and the way they control the market! Since there is only 2 weeks until the Easter demand is over I am going to guess a moderate 10-12 cent rise before the market settles down. 

Weekly CME Cash Dairy Product Prices March 15, 2024
Weekly CME Cash Dairy Product Prices March 15, 2024

Butter:

After last Thursday’s drop the market has been rising steadily, gaining .08 for the week. Futures are at about this level until mid-summer when they rise a few more cents. I am still bullish on butter and do not expect much of a decline. All of the retail orders have been placed and shipped as Easter is only 2 weeks away. Even with pricing at these levels, demand has not slowed within the US. Could be another abusively priced 4th quarter for butterfat again. 

Cheese:

Both Blocks and Barrels have fallen again this week but seemed to hit a floor in the past 2 days. My thoughts are maybe a slight rise and to settle in in the $1.50 to $1.60 range for a while. 

We all wish you a Happy St Patrick’s day weekend!  Thank you for your business!!!

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