Egg prices reach 10-year lows as production outpaces demand
15-Jul-2016
- USA
eggs have gone from record high prices at the height of the bird flu crisis last year to the cheapest prices in a 10-year span.
It's because young hens are laying lots of eggs, boosting supply, but demand hasn't come back as strong. Countries that stopped accepting U.S. eggs last year have haven't resumed imports and companies that make pancake mixes and bread learned to cook without as many eggs.
Three weeks ago, Midwest wholesale egg prices hit a 10-year low of 55 cents a dozen. The record wholesale price was $2.88 a dozen in August 2015. Marcus Rust, CEO of the nation's second largest egg producer, Rose Acre Farms, says the marketplace will resolve the supply and demand issues in time.
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