[ad_1]
US egg prices rose again last month, reaching a new record of $6.23 per dozen despite President Donald Trump’s forecast, falling wholesale prices and no egg farms with avian flu outbreaks.
The increase reported on Thursday in the consumer price index means that egg-dependent consumers and businesses may not be bailed out that immediately. Egg demand will typically rise until Easter, Sunday, April 20th this year.
Industry experts were hoping that the index would reflect a drop in retail egg prices as wholesale egg prices fell significantly in March. Jada Thompson, an agricultural economist at the University of Arkansas, said wholesale prices didn’t begin to fall until mid-March, so even if prices started falling at the end of the month, they might not have had enough time for the average monthly price to fall. And the grocery store may not have been given a low price right away.
Avian influenza or avian influenza is a disease that naturally spreads among wild aquatic birds around the world, as well as poultry and other birds and animal species.
The effects of bird flu
The outbreak of bird flu was cited as the main cause of price spikes in January and February after more than 30 million egg-selling chickens were killed to prevent spread of the disease. Only 2.1 million birds were slaughtered in March, and were not on the egg farm.
The collapsed farm has worked to resume egg production after sanitizing the barn and raising new herds, but the chickens must be around six months before they can start laying eggs. Thompson said these farms didn’t come back online more than they expected. The latest USDA numbers saw only about 285 million eggs laying nationwide as of March 1st, down from 293 million the previous month. Before the outbreak, the herds typically counted over 315 million people.
Trump has tried to praise the USDA’s decline in wholesale egg prices reported in recent weeks. However, experts say the president’s plan to combat the avian flu is likely to help in the longer term by focusing on strengthening egg farmers’ defenses against the virus.
“I think there are a lot of people who want to see the price of eggs want to win, and I think it’s a loss for everyone. We all want to see the price of eggs drop,” Thompson said.
Trump and Vice President JD Vance trumpeted the overall decline in inflation last month before most of Trump’s tariffs came into effect, but did not directly address egg prices.
Earlier this week, Trump said the annual White House egg roll will use real eggs again this year despite the high price. Egg farmers usually donate more than 30,000 eggs to events.
However, some consumers are already looking for plastic eggs to color for Easter to avoid high prices.
Egg prices nationwide
U.S. egg prices began to fall in mid-March, according to DataSembly, a market research firm that tracks prices across thousands of stores. Eggs averaged $5.98 per dozen from March 16th, dropping to $5.51 for the week starting March 30th, according to DataSembly.
However, prices vary widely across the country due to the location of recent avian flu outbreaks and some state laws requiring eggs to be cage-free.
Cage-free eggs were $9.99 per dozen on Safeway in downtown San Francisco on Thursday. At Denver’s Safeway, eggs that were not in the same cage cost $6.69 per dozen.
Underside: Washington, DC doesn’t need eggs to be cageless, but we see eggs exist as cheap as $5.29 on our local Safeway. Back across the country, Walmart sells eggs in Omaha, Nebraska for $4.97 per dozen.
Egg prices are expected to drop further later this spring, but the latest figures could also increase scrutiny of Cal-Maine foods, which offers 20% of eggs nationwide.
Earlier this week, Cal-Maine acknowledged that it was being investigated by the antitrust unit of the U.S. Department of Justice, which is considering rising egg prices. Cal-Maine said it was helping out the investigation.
In the most recent quarter ended March 1, Cal-Maine said its net profits had more than tripled to $508.5 million compared to the same period a year ago. The company said revenues have increased to almost $1.42 billion, mainly due to rising egg prices.
The Senate passed a six-month funding bill on Friday to avoid government shutdowns.
Since the current bird flu outbreak began, more than 168 million birds have been massacred, most of which are egg-soaked chickens. When a bird gets sick, the entire flock is killed, preventing the spread of the bird’s flu. Large egg farms can have millions of birds, which can affect egg supply.
The disease is difficult to control as it spreads easily into the droppings of wild birds carrying the avian influenza virus. Avian flu is also infusing other animals, including dairy cows.
According to the U.S. Bureau of Labor Statistics, egg prices reached $5.90 a month after setting a record of $4.95 per month. However, shoppers have come across much higher prices than in some locations. In California, some stores cost $12 per $12.
Early in the outbreak, egg prices reached $4.82 in January 2023, then gradually fell to $2.04 per dozen in August 2023. In general, prices are steadily rising.
___
Associated Press writer Dee-Ann Durbin contributed to this report.
[ad_2]Source link
