Egg Prices Soar to Record Highs, Dashing Hopes for Affordable Eggs by Easter

US Egg Prices have increased again last month, hitting an all-time high of $6.23 per dozen. President Donald Trump stated that there are no forecasts for egg farms, declines in wholesale prices, or an avian flu outbreak influencing the situation.

The rise noted in the consumer price index on Thursday indicates that consumers, particularly those in Egg-dependent businesses, may not see relief anytime soon. Demand for eggs typically spikes until after Easter, which falls on April 20th this year.

Industry experts had anticipated that the index would indicate a decrease in retail egg prices, as wholesale prices plummeted in March. Jada Thompson, an agricultural economist from the University of Arkansas, remarked that wholesale prices didn’t start falling until mid-March, leaving insufficient time to impact the average monthly price at stores.

The effects of bird flu

The bird flu outbreak was attributed as the primary reason for price surges in January and February, resulting in the culling of over 30 million egg-laying chickens to contain the disease. In contrast, only 2.1 million birds were slaughtered in March and not on egg farms.

The egg price stood at $5.90 in February, just one month following a record of $4.95 per dozen as reported by the US Bureau of Labor Statistics.

Efforts are underway to rejuvenate egg production on affected farms after sanitizing barns and introducing new flocks; however, new chickens generally require about six months before they start laying eggs. According to Thompson, the expected resurgence in production from these farms has not materialized.

Most recent USDA figures indicated that as of March 1st, there were merely 285 million laying hens in the US, although this number typically surpasses 315 million prior to the outbreak.

In total, over 168 million birds were destroyed during the current avian flu crisis, mostly egg layers. With a sick bird case, entire flocks are culled to prevent further spread of the virus. This could severely impact the egg supply from large producers such as Giant egg farms.

Political Aspects of Egg Pricing

Trump attempted to trust the declining wholesale egg prices mentioned by the USDA in recent weeks.

“Egg prices were skyrocketing. You did a tremendous job,” Trump expressed to Agriculture Secretary Brook Rollins during a release of tariff details at the White House last week. “We now have plenty of eggs, and they are much more affordable.”

However, experts suggest that the President’s strategy focusing on strengthening defenses against avian flu among egg farmers may yield long-term benefits.

The agricultural sector is attempting to source egg imports to enhance supply, and around 4 million eggs were imported in February. Notably, traders capitalized on high prices, exporting 7.6 million dozen. Data for March remains unavailable.

“Many individuals desire lower egg prices; it’s a loss situation for everyone. We all want to witness a decline,” remarked Thompson.

Rollins suggested on Thursday that the uptick in egg prices is likely temporary. She highlighted the Consumer Price Index, which indicated a slight decrease in prices of goods and services throughout the U.S. economy, implying that egg prices may follow suit.

“We’re also approaching the Super Bowl of Eggs, which is Easter,” Rollins stated. “From the beginning, we’ve acknowledged that these high prices impact retailers, but we feel confident about a return to normalcy.”

Earlier this week, Trump confirmed that the annual White House egg roll will once again utilize real eggs this year, despite the elevated costs. Farmers traditionally donate over 30,000 eggs for the event.

Nationwide Egg Prices

Data from mid-March indicated a decline in U.S. egg prices, according to DataSembly, a market research organization monitoring pricing across numerous stores. Eggs were priced at an average of $5.98 per dozen starting March 16, followed by a drop to $5.51 for the week beginning March 30.

Nonetheless, prices differ significantly throughout the nation due to recent avian flu outbreak locations and certain state regulations mandating cage-free eggs. At Walmart in Richmond, California, eggs retailed for $6.34 on Thursday, whereas in Omaha, Nebraska, they were available for $4.97 per dozen. California mandates cage-free eggs, while Nebraska does not.

Recent findings might prompt an examination of Calmaine Foods, a major supplier producing 20% of the nation’s eggs, along with other key producers.

Earlier this week, Cal-Maine acknowledged that it is under investigation by the U.S. Department of Justice’s antitrust division regarding possible price hikes for eggs. Cal-Maine stated its collaboration with the investigation.

In the latest quarter ending March 1, Cal-Maine reported a net profit surge exceeding threefold, reaching $508.5 million compared to the same quarter a year prior.

Crafty Alternatives

Soaring prices of genuine eggs have led consumers to turn to artificial options for Easter decorations this year.

Craft retailer Michaels reported a 20% increase in sales of plastic egg craft kits, which were priced at $2.49 on Thursday last week. While sales usually peak around Easter, a noticeable rise began as early as March this year.

“Our craft egg kits are nearly sold out as Easter is just over a week away,” the company noted.

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Associated Press writer Aamer Madhani contributed to this report.