Market Updates for February 7, 2020

Section Type

Dairy | Cheese

The CME saw the bears return this week to being the Block market more in line with the current environment.  Speculators are looking to see how much farther down the market will go, but feel the ceiling it hit last week could continue to be a strong resistance.

 

Last week:

Block - Down

Barrel - Down

This Week:

Block - Down

Barrel - Down

 

Dairy | Eggs

 Retail demand mixed. Supplies of large tight to short. Market firm

Last week:

Large -Up

Medium -Up

Small- Up

This Week:

Large -Up

Medium -Down

Small -No change

Dairy | Butter

Cream supplies for butter making is readably available at low prices despite the jump in last weeks’ spot pricing; butter production is ongoing, helping to clear large volumes of cream. In general, the butter market is in a bearish state as the current supply outpaces immediate needs from buyers. Bulk butter inventories are steadily increasing as most butter processors prepare for the upcoming baking season needs.

Last week:

Butter -Down

This Week:

Butter -Up