Consumer Demand for Shell Eggs Lowers

This week’s Legacy Market News Update has important information for bakeries to consider. Here is a summary:

EGGS: Wholesale prices for cartoned shell eggs steadied through the week as the market found a basis that renewed buyer interest. Offerings are mostly moderate but supplies are more than sufficient for current business, resulting in a wide range of buyer interest. The pace of trading is slow to moderate. Consumer demand for conventional shell eggs moved lower in the immediate post-Easter marketing period in typical fashion following the holiday marketing period.

WHEAT: The cold snap across the U.S. has traders concerned about potential crop damage for Hard Red Winter (HRW) in addition to delays in corn and beans planting. Strong Chinese demand and dryness in the western Corn Belt has corn futures prices off to the races, which is pulling wheat prices up as well. Military tensions along the Russia and Ukraine border have traders nervous about a potential conflict that could cause issues for wheat exports out of the Black Sea region.

BUTTER: The CME spot butter market was hit with aggressive selling this week while prices in the EU and Oceania were a little weaker as well. US cream supplies have loosened up a bit. U.S. butter stocks came in well below forecast for a second consecutive month. Stocks almost always build between Feb. and Mar., but they were flat this year. The market action was bearish this week, but the stocks/use ratio still sug- gests $2.00 ($4,400) is still a possibility during Q2.

Buchmann Eggs is proud to offer high quality baking ingredients for any operation. Contact us today!

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