High egg prices should be investigated, U.S. farm group says

[Eugene]

Source: Reuters

High egg prices should be investigated, U.S. farm group says

Leah Douglas
Fri, January 20, 2023 at 11:18 AM EST·2 min read

(Reuters) - The Federal Trade Commission (FTC) should examine high egg prices for signs of price gouging from top egg companies, a farm group said, as Americans continue to pay more than ever for the household staple.

U.S. regulators, farmers, and industry have often argued in recent years about the power of top agriculture firms to set prices and drive up what consumers pay for groceries, such as when the price of beef skyrocketed in 2021.

The latest concern is eggs, whose price was up 138% in December from a year prior, to $4.25 a dozen, according to the Bureau of Labor Statistics.

The U.S. Department of Agriculture (USDA) has pointed to a record outbreak of avian flu as a reason for the high prices. But the nation's antitrust regulator should also examine record-high profits at the top egg company, said Farm Action on Thursday in a letter to FTC chair Lina Khan.

Cal-Maine Foods, which controls 20% of the retail egg market, ...

-snip-

Read more: https://news.yahoo.com/high-egg-prices-investigated-u-161846769.html

[paleotn]

1. Avian flu. Makes one wonder how big an impact it really had on US chicken flocks.

Some I'm sure, but enough to warrant current prices? Maybe not. Per the article, Cal-Maine wasn't even impacted by it. 20% of the US egg market and they weren't impacted at all by avian flu? I'm having a hard time buying their whole premise for record revenue and high prices.

[peppertree]

8. +1

It's the "Argentinization" of pricing:

Wholesalers - and to some extent, retailers - boosting prices dramatically "just in case."

Those "just in cases" translate to hefty extra profits, that's for sure.

[no_hypocrisy]

2. Our store still sells eggs for $4.99 a dozen generally (NY/NJ/CT)

Why is it that our supplier/farms have avoided the decimation of chicken flocks by avian flu? Doesn't make sense.

[CrispyQ]

3. The dog food I buy has gone up $10 since the pandemic for a 14 pound bag!

Eggs are excessive, but ALL grocery prices should be investigated. My favorite cookies went up $2—for 15 cookies. Birdseed went up $3 a bag. The bread I used to buy went up $2.5. I finally brought my bread machine up from the basement & now make wonderful bread. It only took a few flops to get the recipe down right.

[Historic NY]

4. Still find local farms for brown large 4.25 - 4.99

Every month, Shoprite has a coupon to its price plus customers for 3.00 dollar off land of lakes. I grab the Jumbos. Of late the the prices have been rising substantially. I've noticed they have been buying from the Amish cooperative. During the pandemic, they were practically giving them away. I understand the avian flu, but that's been going on for some time.

[Freethinker65]

5. Thought many producers had to cull their chickens and start over due to avian flu.

Prices seem to be coming down a bit in the Midwest. Still shocked by the price tho.

[stopdiggin]

6. so, maybe having such things as consumer watchdogs

are really not such a bad idea? Dammit! Who would have thought .. ?

(of course, deregulation is the name of the game for everybody in my sector. but ... )

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[Tarheel_Dem]

7. I paid $5.38 for a dozen just after the holidays. I probably won't be doing that again. Investigate.