This week’s Legacy Market News Update features important information for all bakers in the foodservice industry. Here are some key highlights on butter, eggs, and flour markets:
BUTTER: Butter production in December was stronger than expected, up 11.8%. It looks like cream movement into food service slowed in December which boosted butter production. Cream is still tight in the EU and butter prices remain firm.
FLOUR: Ag markets taking a break after improved weather conditions globally. Corn futures rally is now turning feeders to other grains and boosting old crop values.
EGGS: Wholesale prices for cartoned shell eggs held steady through the week even as the undertone weakened. Consumer demand for shell eggs continued to recede as the market moved into early February and the groundhog dispelled hopes for an early Spring.
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