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Wholesale Prices for Shell Eggs Strengthens

The Legacy Market News Report for this week has key insights on the baking industry for all operations. Here are some important points to remember:

EGGS: Wholesale prices for cartoned shell eggs strengthened as the week progress and closed fully steady to firm. Supplies are quite comfortable for current business despite light to moderate offerings but interest has improved for some stock replenishing. Trading was slow to moderate. Consumer demand for shell eggs improved over the past week, buoyed by active retail promotional activity that peaked midway through last week. The improvement is expected to continue into next week on a renewed retail promotional push this ad cycle at very attractive sale prices.

WHEAT: The board’s weakness is due to timely rains in the forecast for the U.S. which is helping drought-stricken areas with improved conditions. Significant dryness continues for parts of South America, Russia, and the Black Sea region which is expected to effect yields. Winter wheat crop tour showed scouts projecting a record setting average yield of 59.2 which is the highest Day 1 average ever reported.

BUTTER: GDT butter was down, but US and EU butter prices were high- er. We are likely close to the seasonal peak for US butter stocks, soon we’ll be taking more out than we’re putting in each week and that tends to be supportive for prices. I’m still bullish on US prices and ex- pect to see the spot market above $2.00 ($4,400) within the next 2 months. But the stronger than expected milk production is making me a little nervous about that forecast.

Buchmann Eggs has all of the highest quality baking ingredients that your operation needs to succeed. Contact us today to learn more about how we can assist you in growing your business and satisfying your customers!

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