Nov 11 2021

Dave’s Weekly Market Update

Good day to all,

Eggs:
The holiday season is here and the market is booming. Next week, I expect more activity, and then it will level off the week of Thanksgiving.
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Butter:
Butter rose again this week but did back down slightly today. There is still a shortage of butterfat on the market, so I do not expect much more in the way of increases. Holiday demand for butter, sour cream, cream cheese and dips is at its peak. At this point, we have a good supply of all Cabot butter, and I know they are cutting others.
Cream Cheese:
 In the wake of Schreiber being hit by ransomware 2 weeks ago and being forced to shut down for a week, there is a huge shortage of cream cheese on the market. Until now, we have had a good inventory, but now we are facing shortages.
Cream:
Since other companies are shorting their customers, remember that we still have a good supply of UHT cream. Byrne and Golden Sunshine are both available.
Cheese:
This week, the Block market exploded following two weeks of aggressive declines. Barrel cheese seems to have leveled out at more seasonable levels. The demand for barrels drops after Labor Day, but the market did not reflect that this year.
The Honor Foods team would like to thank you for your continued support during these unprecedented times in our industry and don’t forget to ask your sales representative for items that others are shorting you on.
Have a wonderful weekend!