Dave’s Weekly Market Update for 5/10/24
Valuable insights on the latest market price changes for eggs, butter, cheese, and cream products.
Last Update: Week of April 25, 2024
Eggs:
The egg market has come down almost $1.00 a dozen in the past few weeks. The market seems to be settling in at this level for the near future. We are lowering prices on some of the Newberg processed eggs as that market has been dropping also. Michael Foods pricing is grain based so there will not be any changes from them at this point.
Butter:
Butter lost .05 on Tuesday and .025 today after reaching a record high price for this time of year last Friday. There had only been 1 load traded this week before today’s market, but today 12 more changed hands. I do not expect these drops to continue or last. Ice cream season is right around the corner and that puts a heavy demand on butterfat.
Cheese:
The Block market jumped .115 lb. on Wednesday with only 1 load changing hands. There were higher bids, but no sellers offered cheese to cover those. Exports were at a record 110 million lbs. in March and demand seems to have picked up. With no sellers trying to fill those orders yesterday, this tells me cheese is in tight supply. Barrels also rose slightly and now the Block Barrel spread is proper with Blocks being a few pennies higher than the barrels. Both rose slightly again today.
All of the team members at all the Honor Foods locations thank you for your continued business and wish you a safe and relaxing weekend.
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