Jan 23 2020

DAVE’S WEEKLY MARKET UPDATE

Good afternoon,

Eggs:
     The egg market is rapidly rising this week and will continue to do so next week. My thoughts are that we could see another 20 cents in the next 2 weeks but as always I must state that these are only my opinions and observations of the markets and guarantee no results. Farmers have put birds out to molt and severely tightened up the supply.
Butter:
      There is a heavy inventory of butter in cold storage and cream is plentiful. These conditions are forcing the market downwards. There have only been 4 loads traded this week as buyers are waiting for lower prices. When the activity jumps up people feel it is a good value and the market may begin to rise.
Cheese:
      Both Block and Barrel rose this week with 7 loads of Blocks and 16 loads of Barrels moving at the exchange. Buyers must feel that the Barrel was a good value as volume was up as well as were the prices. Both averages are similar to the close so we may be somewhat stable. The spread is still an unsustainable .37 cents. Common sense would make one think the Block will drop to close the gap but that does not seem to be the case in the markets anymore.