Feb 13 2020

DAVE’S WEEKLY MARKET UPDATE

Good day to all,
Eggs,
      Eggs turned around last Friday and the market is now correcting. We were down .20 this week and the market is trying to settle and I expect to see some decreases next week but less than this.
Butter:
     The Butter market dropped again this week as butter and cream supplies are plentiful. Some feel we will see the Butter market drop under $1.80 but time will tell. Futures are not showing much in the near future. The low prices will slow down imports and maybe help to balance the inventory.
Cheese:
     The markets corrected some of the spread this week with the Block dropping and the Barrel rising. The spread has closed to .28 but compared to the historical spread of 2-3 cents this is huge. Historical data has not been much help to buyers as of late as the trading fundamentals have seemingly changed. It has been much more difficult to gauge the markets in the past year than ever in the past. There were only 6 loads of Blocks traded as compared to 24 loads of Barrels. I feel the Blocks will drop more than the Barrels will rise to close the spread some. As always I must state that these are only my opinions and observations of the markets and can guarantee no results.