U.S. retail egg costs noticed their first lower in April from the record-high costs from earlier this 12 months, authorities information launched Tuesday confirmed.
The common value for a dozen Grade A eggs declined to $5.12 final month after reaching a document $6.23 in March, in accordance with the Consumer Price Index. It was the primary month-to-month drop in egg costs since October 2024.
Overall, the common value of eggs of all sizes fell 12.7%, the steepest month-to-month decline since March 1984.
While wholesale egg costs have been coming down for some time, it was unclear how a lot retailer costs would lower in April as a result of client demand is normally excessive round Easter and Passover.
Still, retail egg costs stay close to historic highs as a persistent outbreak of hen flu wipes out flocks of egg-laying hens. The April determine is 79% increased than the identical month a 12 months in the past, when the worth averaged $2.86 per dozen.
Bird flu has killed greater than 169 million birds since early 2022. Any time a hen will get sick, your complete flock is killed to assist preserve hen flu from spreading. Once a flock is slaughtered, it may possibly take so long as a 12 months to wash a farm and lift new birds to egg-laying age.
That can impact the egg provide as a result of huge egg farms might have hundreds of thousands of birds. Outbreaks on two farms in Ohio and South Dakota final month affected greater than 927,000 egg-laying hens.
Lowering egg costs has been a selected focus of President Donald Trump. In February, the U.S. Department of Agriculture mentioned it could make investments $1 billion to assist farmers enhance their biosecurity measures to struggle hen flu.
The U.S. has additionally elevated imports of eggs from South Korea, Turkey, Brazil and different nations. According to Wells Fargo Agri-Food Institute Sector Manager Kevin Bergquist, the amount of egg and egg product imports elevated 77.5% through the first three months of the 12 months in comparison with the identical interval a 12 months in the past.
The antitrust division of the U.S. Department of Justice can also be investigating Cal-Maine Foods, the biggest U.S. egg producer, which provides round 20% of America’s eggs. Cal-Maine confirmed the investigation in early April..
Ridgeland, Mississippi-based Cal-Maine mentioned its internet revenue greater than tripled to $508.5 million in its most up-to-date quarter, which ended March 1.
Source: www.dailysabah.com