As a result of the recent drop from historically high wholesale egg costs, shoppers may soon feel some respite at the grocery store.
However, that is less likely to happen in the near future due to market characteristics, such as the difference in price between wholesale and retail for eggs.
According to Urner Barry, a wholesale food industry-focused market research business, prices for a dozen eggs dropped to $2.61 on Monday, 52% lower than their peak of roughly $5.43 on December 19 and 47% lower than they were at the start of 2023. The price of its Midwest Large White Egg benchmark is often used to measure the market.
Angel Rubio, a senior analyst at Urner Barry, said, “Prices have fallen.” That’s a significant downward revision. Egg prices in 2022 skyrocketed due to a ‘collusive scheme’ more than any other consumer good in an unprecedented year of inflation.
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All The Wrong Factors Contribute To The High Cost Of Eggs
Near my home in Wisconsin, I noticed a huge mound of rotting chickens and decided to check it out. The original egg factory farm had recently been infected with bird flu, so all 2.8 million chickens there had to be culled quickly in what the business euphemistically calls “depopulation.”
Kenyan consumers are facing an increase in the cost of eggs as prices soar to an unprecedented level of KES 450 per tray, up from KES 380 in November. The shortage of the commodity and the high cost of imports from Uganda are contributing factors to the rising prices. pic.twitter.com/UCtrS6eHQe
— Cyprian, Is Nyakundi (@C_NyaKundiH) January 30, 2023
When I visited the location a few months after the cull, all that was left were bone piles that stretched as far as the eye could see and gave off the eerie feeling of a mass burial. Aside from the outrage of the locals who saw the bodies dumped in their backyards, nobody paid much attention to this spot.
As the avian flu pandemic has been, it’s always surprising to see a topic you usually cover — factory farming — make national headlines. But the fact that the bird flu has resulted in the deaths and culling of a record-high 58 million poultry birds in the US since last year alone isn’t what’s driven most of the attention. This is the cost of an egg.
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