Jul 27 2018

DAVE’S WEEKLY MARKET UPDATE

Good day,

Eggs:
The egg market dropped again this week but today it did not move.  The market “is attempting to settle” as per Urner Barry who creates the egg market. This usually signifies that the market will remain level for a few days until it goes back up way too much too quickly. That is the way of the egg market!
Processed Eggs:
     Last week in Springfield we had the pleasure of having a sales meeting with one of the owners of Deb El eggs. They want to work with us to grow our partnership with them and are willing to have their brokers go out and help you grow YOUR business. We have point of sale information here for you. What can we do to help you grow our business on this line? We are looking at other items from them also. Please see the attached Deb El brochure
Butter:
      Butter once again bounced around during the week and bounced back up today ending up .02 for the week. Expect more of the same in the near future.
Cream:
     Due to the drops in butter in the past month we will see a decrease in fluid cream prices when we do price changes next week. Something all end users will be very happy about.
Cheese:
     The Block market drifted downward slightly and the Barrel market screamed upwards. We have seen a .1925 increase since Monday. The average went up .08 and if nothing changes we will see a .06 increase next week as the market closed at $1.4875 and the average was $1.43. Something to look at is the fact that the Block and Barrel spread has closed to $.0225. Last Friday the spread was $.25. $.02-.04 used to be the normal spread between the markets. With the spread so close could the markets finally be past the Tariff war jitters and maybe return to normalcy?  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 are so appreciative of your business and support and thank you for that. We hope you have a safe and relaxing Summer weekend.