Overview
- The average retail price for a dozen eggs reached $6.23 in March, marking a 60.4% increase from a year ago, according to the Bureau of Labor Statistics.
- Wholesale egg prices have dropped significantly, falling from over $8 per dozen in February to $3.26 in early April, but retail prices have yet to reflect this decline.
- The bird flu outbreak earlier this year led to the culling of over 30 million egg-laying chickens, severely reducing supply, though outbreaks have since subsided.
- The USDA has implemented a five-pronged strategy, including expanded imports and improved farm biosecurity, to stabilize the market, but consumer relief has been slow to materialize.
- Cal-Maine Foods, the nation’s largest egg producer, is under investigation by the Department of Justice for alleged price-fixing, as the company reported record profits amidst soaring prices.