Archive for June, 2021

Jun 28 2021

Industry News – Shipper Fury as Container Freight Rates Soar

Shipper Fury as Container Freight Rates Soar June 27, 2021 By Mike Wackett (The Loadstar) – Short-term freight rates from China to North Europe have breached the $20,000 per 40ft mark, while transpacific carriers are quoting rates of up to $25,000 to the US west coast. And there was one report of $32,000 from Shanghai to Los

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Jun 28 2021

Dave’s Weekly Market Update

  Good afternoon, Eggs: The egg market is very low due to lackluster demand. Agricultural producers are losing money as grain costs soar. Butter: In this week’s market, there was downward pressure, and there was little movement at the CME. We may see more declines next week. Inventories are strong and demand is not high

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Jun 18 2021

Dave’s Weekly Market Update

Happy Friday!   Eggs: The egg market remained steady this week. Retail demand is sluggish and foodservice demand for breakfast is just not back to pre-pandemic levels. Next week should be more of the same. Butter: After a slight increase on Monday, butter prices were steady. In my opinion, we will remain within this range

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Jun 15 2021

Industry News – Food Supply Chains Are Stretched as Americans Head Back to Restaurants

“Demand has changed too. Restaurants that remained open slimmed down their menus during the pandemic and shifted from fresh ingredients for salad bars and buffets to using more prepackaged foods for takeout and delivery operations. Manufacturers cut down on product range, offering fewer varieties of breaded chicken tenderloins, for example, while meat processors reduced production output to meet Covid-19 safety standards.”

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Jun 14 2021

Good News – USDA to invest over $4B to strengthen the food supply chain

A.B. Brown  Associate Editor @ FoodDive   The U.S. Department of Agriculture announced it is planning to invest over $4 billion through the Build Back Better Initiative to make critical supply chains stronger, aid food production and processing, improve food distribution and storage, and ensure equitable market access for food producers.   USDA’s efforts are an attempt

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Jun 10 2021

Dave’s Weekly Market Update

Happy Thursday! Eggs Markets are still adjusting to the overabundance of eggs. Due to lower foodservice volumes, prices have dropped somewhat.  Next week, I believe we’ll see a slight decline. Butter: Butter ended the week with decent movement and was slightly higher than last Thursday. I believe it will stay in this range unless it

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Jun 10 2021

Market News – The Perfect Storm Making Everything You Need More Expensive

“…Food prices are already rising due to a surge in demand for agricultural commodities such as corn and soybeans driven by China, where demand for animal feed is soaring as hog herds recover from an African swine fever outbreak, according to Patterson. The government has also been rebuilding depleted domestic corn reserves, he added.”

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Jun 09 2021

Industry News – 5 Reasons Global Shipping Costs Will Continue To Rise

No short-term relief Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surge in prices across different freight rates (dry bulk, containers) along major trade routes. Prices for several trade lanes have tripled compared to last year, and charter prices for container …

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