Many couples often wonder when is the best time to do toasts during your reception. Sometimes the thought is that you'd want to do the toasts after dinner, before the cake cutting, or after the dances because everyone is settled in and cozy, but the actual best time to do your toasts is right before dinner is served. At this point, people are at their seats, you have either just been introduced, or just completed your first dance, and all attention is still on you, and nobody has gone anywhere and won't miss what is next. Plus, people are most attentive to what you tell them right before you feed them.
Bottom line: If you want people to pay attention to your toast, not be wandering around, or kill the momentum in a later part of the wedding, hold your toast before the meal. It can be before or after the blessing, but you want to get it done before you lose the focus of your guests to other events