U.S. Egg Prices Soar To Record High, Despite Donald Trump’s Prediction

The U.S. egg prices surged to a record-high of $6.23 per dozen last month, despite various factors such as a drop in wholesale prices and the absence of bird flu outbreaks on egg farms. This increase, reported in the Consumer Price Index, may not provide immediate relief to consumers and businesses reliant on eggs. The demand for eggs typically remains high until after Easter, which falls on April 20.

Experts had anticipated a decrease in retail egg prices due to a significant decline in wholesale prices in March. However, the average price for the month may not have decreased as expected, and grocery stores may not have immediately adjusted their prices. Bird flu outbreaks in January and February had previously caused price spikes after millions of egg-laying chickens were culled. In March, only 2.1 million birds were slaughtered, none of which were on egg farms.

The current bird flu outbreak has resulted in a reduction in the nationwide egg-laying hen population, with only about 285 million hens as of March 1, compared to over 315 million before the outbreak. The slaughtering of more than 168 million birds, primarily egg-laying chickens, has impacted the egg supply. Efforts to resume egg production at affected farms have been delayed, as new flocks take time to mature before laying eggs.

President Trump attempted to take credit for the decline in wholesale egg prices, which the USDA had recently reported. However, experts believe that the president’s focus on strengthening defenses against bird flu will have a more long-term impact. The Agriculture Department’s efforts to import eggs to supplement the supply were overshadowed by a surge in egg exports due to high prices.

Despite the current high prices, Agriculture Secretary Brooke Rollins believes that egg prices will soon decrease, following a slight dip in the consumer price index for goods and services. The upcoming Easter holiday, known as the “Super Bowl of eggs,” may further contribute to a decline in egg prices.

The variation in egg prices across the country is influenced by factors such as recent bird flu outbreaks and state regulations, such as cage-free egg requirements. Investigations into egg price increases, including an inquiry into Cal-Maine Foods by the U.S. Department of Justice, have raised concerns about the industry’s practices.

With the high prices of real eggs, some consumers have turned to plastic egg craft kits for Easter activities. Sales of these kits have seen a significant increase, with some retailers reporting near sell-out levels before the holiday.

Overall, the egg market continues to face challenges, but there is optimism for a potential decrease in prices in the near future. The unique circumstances surrounding the current situation emphasize the importance of monitoring and adjusting to market fluctuations effectively.