“Shoppers are budget conscious at that time,” after the holidays, he said, “so typically, they’re probably putting more eggs in their basket than they normally do. “This is the time of year where demand cools off a little bit,” said Brian Earnest, lead economist for animal protein in CoBank.ĭemand for eggs typically rises around the winter holidays - when people bake and eat breakfast at home - and though it slows in the first quarter, it usually stays relatively strong. Headlines aside, shoppers’ demand for eggs typically drops in late spring, experts say. (Still, egg sales have remained stable overall: NIQ data shows unit sales stayed essentially flat in the year through April, despite rising prices.) In the four weeks ending on April 22, unit sales of eggs in US retail dropped 4% compared to the same period the year before, according to NIQ, which tracks retail sales. Here's what's getting cheaper at the grocery store Prices hit annual lows in early May and have stayed about steady since then, she said. The wholesale price drop began in late March, according to Karyn Rispoli, senior egg market analyst at Urner Barry. Elizabeth Warren have asked for more clarity on why prices got so high, raising concerns about possible price gouging.īut now supply is back on track: Though the industry braced for more cases of bird flu this year, the deadly virus seems to be under control. (CALM), the largest US egg producer, reported profit growth of over 700% in the quarter ending February 25 because of higher egg prices. On top of that, farmers had to deal with inflated feed and fuel costs. Last year, deadly avian flu wiped out a significant number of egg-laying hens, reducing egg supplies. Why the decline? It’s because of a reversal of supply-demand trends that caused prices to spike in the first place. (In retail, prices are well above $1 per carton, though they too have been declining.) That’s a sharp fall from $5.46 per carton just six months ago. Now, they’re going splat.Īs of last week, Midwest large eggs - the benchmark for eggs sold in their shells - cost just $0.94 per dozen in the wholesale market, according to Urner Barry, an independent price reporting agency. For months and months, the price of eggs was soaring.
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