US egg prices fall for the first time in months but remain near record highs
While wholesale egg prices have been coming down for a while, it was unclear how much store prices would decrease in April because consumer demand is usually high around Easter and Passover.
Still, retail egg prices remain near historic highs as a persistent outbreak of bird flu wipes out flocks of egg-laying hens. The April figure is 79 percent higher than the same month a year ago, when the price averaged $2.86 per dozen.
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Bird flu has killed more than 169 million birds since early 2022. Any time a bird gets sick, the entire flock is killed to help keep bird flu from spreading. Once a flock is slaughtered, it can take as long as a year to clean a farm and raise new birds to egg-laying age.
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That can have an effect on the egg supply because massive egg farms may have millions of birds. Outbreaks on two farms in Ohio and South Dakota last month affected more than 927,000 egg-laying hens.
Lowering egg prices has been a particular focus of President Donald Trump. In February, the US Department of Agriculture said it would invest $1 billion to help farmers improve their biosecurity measures to fight bird flu.
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The US has also increased imports of eggs from South Korea, Turkey, Brazil and other countries. According to Wells Fargo Agri-Food Institute Sector Manager Kevin Bergquist, the volume of egg and egg product imports increased 77.5 percent during the first three months of the year compared to the same period a year ago.
The antitrust division of the US Department of Justice is also investigating Cal-Maine Foods, the largest US egg producer, which supplies around 20 percent of America's eggs. Cal-Maine confirmed the investigation in early April..
Ridgeland, Mississippi-based Cal-Maine said its net income more than tripled to $508.5 million in its most recent quarter, which ended March 1.
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