[Karah Rucker]

WE’RE GOING TO TALK ABOUT EGG PRICES –

BUT WITHOUT THE EGG JOKES OR PUNS.

THERE’S A FEW ANGLES TO TELL HERE.

EGG PRICES ARE DROPPING –

BUT THE AGRICULTURE SECRETARY PREDICTS PRICES WILL PICK BACK UP –

AS WE APPROACH EASTER.

AND THE DEPARTMENT OF JUSTICE – IS NOW INVESTIGATING – 

WHETHER EGG PRODUCERS ARE INFLATING COSTS.

HERE’S WHAT YOU SHOULD KNOW.

EGG PRICES HAVE RECENTLY DROPPED FROM AN ALL-TIME HIGH – ACCORDING TO NEW DATA FROM THE DEPARTMENT OF AGRICULTURE.

WHERE PRICES FOR A DOZEN EGGS COST OVER 8 DOLLARS EARLIER THIS MONTH (8.17) –

THE COST IS NOW 5 DOLLARS 51 CENTS.

THAT’S A PRICE DROP OF NEARLY 33 PERCENT –

OFFERING **SOME RELIEF TO CONSUMERS FOR THE KITCHEN STAPLE –

BUT STILL UP ROUGHLY 50 PERCENT YEAR OVER YEAR.

JUST AS PRICES ARE COMING DOWN, U.S. SECRETARY OF AGRICULTURE BROOKE ROLLINS IS WARNING THAT THEY MAY “INCH BACK UP” AS WE HEAD INTO THE EASTER SEASON—A TIME WHEN DEMAND FOR EGGS TRADITIONALLY PEAKS. 

“Its likely prices will go back up, We’re moving into the highest price egg season without Avian bird flu, and that’s because Easter is right around the corner, but recently, i think just a couple of days ago, We believe that… the market has reacted to our plan that we rolled out on February 26th.”

THE USDA OUTLINED A $1 BILLION PLAN TO ADDRESS THE HIGH PRICE OF EGGS – INCLUDING EXPLORING WAYS TO STREAMLINE REGULATIONS – LOOKING AT IMPORT SOLUTIONS FROM OTHER COUNTRIES – AND PROVIDING FINANCIAL RELIEF FOR FARMERS WHO ARE LOSING FLOCKS TO THE BIRD FLU.

BIRD FLU HAS BEEN SEEN AS THE MAIN CULPRIT TO THE HIGH INFLATION OF EGG PRICES.

A DEVASTATING OUTBREAK HAS LED TO THE LOSS OF OVER 111 MILLION BIRDS—MOSTLY EGG-LAYING HENS—SINCE 2022.

OTHER FACTORS LIKE INFLATION, TRANSPORTATION COSTS, AND STATE REGULATIONS HAVE ALSO ADDED PRESSURE TO PRICES.

BUT THE DOJ HAS NOW LAUNCHED AN INVESTIGATION TO SEE IF THERE’S ANOTHER UNDERLYING CAUSE OF 8 DOLLAR CARTON OF EGGS.

THE JUSTICE DEPARTMENT IS INVESTIGATING WHETHER MAJOR EGG PRODUCERS HAVE BEEN DRIVING PRICES UP INTENTIONALLY.

THE WALL STREET JOURNAL REPORTS ANTITRUST OFFICIALS ARE LOOKING INTO WHETHER COMPANIES HAVE BEEN LIMITING SUPPLY TO KEEP PRICES HIGH.

ONE FARMERS ADVOCACY GROUP SAYS THROUGH ITS RESEARCH –

THEY BELIEVE THE DOJ HAS A LEGITIMATE CASE TO PURSUE.

FARM ACTION RELEASED THIS STATEMENT –

While avian flu is real, it is no excuse for the price being charged at the grocery store for one of the country’s staples. While Farm Action’s analysis demonstrates likely antitrust abuses by the dominant egg-producing corporations, the DOJ has the legal authority to take the deep dive into the industry that is required to get to the bottom of this abuse.

HOWEVER THE CEO OF “AMERICAN EGG BOARD” WHICH REPRESENTS EGG PRODUCERS NATIONWIDE RELEASED A STATEMENT IN RESPONSE THE DOJ’S INVESTIGATION –

SAYING “Eggs are subject to the economic laws of supply and demand. The tight egg supply caused by avian influenza, coupled with 23 consecutive months of high sales volume, has created a perfect storm in egg markets.”

AS THE GOVERNMENT DIGS DEEPER INTO THE ISSUE, SOME GROCERY STORES ARE STILL LIMITING PURCHASES, AND SHELVES REMAIN PARTIALLY EMPTY IN SOME AREAS AS EASTER QUICKLY APPROACHES.

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