Thanksgiving is around the corner so best prepare with the latest Market News report! Continue reading for important highlights on the baking industry:
EGGS: Wholesale prices for cartoned shell eggs steadied through the week despite increasing supplies as marketers bulked up their stock to target the much anticipated seasonal rise in demand. Offerings were moderate and trading was slow to moderate on average short term interest. Wholesale prices for graded loose eggs wobbled through the week to finish slightly lower. Offerings were moderate for adequate supplies. Interest was average and the pace of trading is on the rise.
WHEAT: Wheat continues to rally off of further decreased Russian production and tighter global supplies. The entire commodity complex is seeing strength from rising global input costs including fertilizer. Increased corn demand missing from the USDA balance sheets is bolstering all row crops despite harvest pressure.
BUTTER: U.S. butter stocks were 7 mil. lbs. lower than expected in September and down 4% from last year. We are comparing against heavy inventory levels last year, so the September number by itself isn’t overly bullish, but it signals that the weak milk production is hitting butter production hard and that will continue in coming months which should pull inventories down 20-30% from year ago levels by December. EU prices keep pushing higher on their own fundamentals.
Click HERE for the full report.
For quality & essential baking ingredients, contact Buchmann Eggs TODAY. Get baking this holiday season!