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Happy Thursday and finally we have some warm weather!
Eggs: The egg market is beginning to correct as supplies are building up. I expect more declines next week.
Butter: In the last 2 days butter has turned around and jumped .10 per lb. With the thought that there will be shortages of butterfat in the 4th quarter this makes sense. Earlier in the week it looked like there would be decreases across the board in dairy, but this did not take place. World prices have come down some and this may be the cause. Retail demand is slowing due to the new higher prices, but foodservice demand has been strong as well as exports.
Cheese: The Block market did drop some this week and rebounded slightly yesterday, Barrels rebounded yesterday also pushing the market higher for the week. It is really hard to give any kind of forecast or predictions in these times.I guess the main goal is to try to maintain a good inventory for you and your customer base.
Supply Chain issues: The foodservice industry is still facing major issues getting some product lines. Whether it be source of supply(poultry due to the A1 Bird flu) or flare ups of COVID wreaking havoc on certain packers workforces. The shutdowns in China will cause issues going forward.
Certain items with ingredients coming from the Ukraine are starting to become an issue. Please reach out to your Honor salesperson to see if will can fill the void where others are having issues.
A heartfelt thank you to all of you for your continued business! Have a safe and relaxing weekend.