Jun 02 2016

Dave’s Weekly Market Report

Good afternoon to all:

     The egg market remained flat most of this week at extremely low levels and then dropped slightly today. Retail demand is increasing as reduced prices are finally hitting the shelves. Retail demand is still listed as only fair. Farmers are losing money at these levels and at some point there has to be a turn around but when that will be, is the question.
     Butter went up a few cents this week. Some believe it is because retail demand continually increases month over month and others attribute it to ice cream demand which spiked with the heat over the holiday weekend. There is another school of thought out there that people are buying close to the $2.00 level due to the fear of being forced to buy at the really high levels of the 4th quarter’s in the past 2 years.
     Despite record high inventories both Block and Barrel rose this week. Inventories are the highest they have been in 32 years. I do not think that the markets will remain at these levels due to the enormous inventory levels. As always I must state that these are only my opinions and observations of the markets and can guarantee no results.
We at Honor Foods thank you for your continued business and want to wish all of you a safe and relaxing weekend.