The week’s Market News Update features important bakery industry news for operations to consider. Here are some key points:
EGGS: Wholesale prices for cartoned shell eggs entered the week enjoying some of the firmness seen over the past few weeks. But this firmness faded as the week progressed and interest waned. Supplies are described as light to heavy which indicates a range of market positions that appear to have improved through the week with supplies moving into a good balance. Offerings remain light to moderate but trading has slowed as interest begins to fade.
WHEAT: A Bipartisan bill is being proposed to eliminate corn ethanol volume mandate which if passed, could throw a wrench in the byproduct feed market including millfeed. Some unwinding of intermarket wheat spreads is taking place as unexpected rains in the northern Plains and southern Canada take some pressure off the spring wheat crop. Winter wheat is now 73% harvested but with the northern states now underway, we could see things get wrapped up fairly quickly in the next two to three weeks.
BUTTER: No new update available.
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