Oct 17 2019

Dave’s Weekly Market Update

Good day to all!

     The market went up a penny today so hang on because here we go! We are hearing a slight rise to begin the holiday baking season but……
     Butter rebounded some from last weeks drops. 48 loads of cubes traded hands this week on the CME which is high volume. Some people are saying we may see the market go up to $2.20 to $2.30 before it drops back down. After being wrong for so many weeks I am not so sure.
      The spread between Block and Barrel is now 1/4 of a cent. A huge change from the $.40 a few weeks ago. Barrels rose late last week and have moderated since then to close at $2.00. Blocks dropped from a high of $2.12 last Thursday and closed today at $2.0025. The average is 2.04 so if nothing changes next week we will see a .04 drop in the block. I feel the Barrel is overpriced for this time of year, but yellow blocks (which is what is traded at the CME) are tight to supply which is keeping the Block market high. I feel  will trend downward with more of a drop in the Barrel (Processed American Cheese).
Bella Rosa shredded Fontina is now in stock in Springfield, Please ask your rep about this growing item. It is packed 4/5 bags.
We all wish you a safe and relaxing weekend and as always, thank you for your continued business.