Nov 27 2019

Dave’s Weekly Market Update

     The egg market remained firm this week with the exception of mediums which did drop. The next move will be downwards and probably begin next week.
     Butter dropped again this week setting the tone for the after Thanksgiving drop in the market. Butter inventories are higher than usual and imports have been strong. These factors are pushing the market down and will drop more in the weeks to come.
     Both Block and Barrel turned around this week and went back up. Barrels are tight but there is minimal demand this time of year. It went up over .10 with only 2 loads trading at the exchange this week. Both markets closed higher than the averages but I feel the markets are way too high and need to correct. The spread is over .28 and that is not sustainable. I guess time will tell but Barrel needs to drop.
All of us at Honor Foods want to wish you a joyous Thanksgiving spent with friends and family. Regards