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Butter Market Stronger than Expected this Week

It’s Thanksgiving week! Get prepped with our Market News summary & continue reading to stay updated on the baking industry:

 

BUTTER: CME butter was stronger than expected this week. Given how tight the stocks/use looks for Q4 you can justify a $2.10 ($4,600) spot price, but the market has been running 20-40 cents lower than the stock/use ratio so it is a little surprising to see it over $2.00 ($4,400). Cream in the U.S. is still reportedly tight, but it has loosened up in Europe. The looser cream supply helped to push EU butter prices a little lower. 

WHEAT: Chicago wheat is making new highs not seen since December of 2012. Matif Wheat is making new all-time highs today as well. There are rumors that China is back in the market looking to purchase more French and Black Sea region wheat. Rains in Australia are causing delays in harvest and increased condition concerns.

EGGS: Wholesale prices for cartoned shell eggs advanced through the week as the product is moving into marketing channels to support holiday demand. Supplies remain sufficient for current needs but marketers are looking to keep stocks at sufficient levels. Offerings are moderate and trading is slow to moderate on good interest. Wholesale prices for graded loose eggs moved higher through the week. Supplies are mostly adequate and interest is good.

 

Click HERE for the full report. 

For quality & essential baking ingredients, contact Buchmann Eggs TODAY. Get baking this holiday season!

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