The egg market has laid an egg so far in 2023. However, a steady recovery in the last few weeks has things looking sunny side up—great news for American consumers.
For those who don’t buy their own groceries and still mooch off mom, here’s a quick recap on America’s egg fiasco.
Egg prices reached an unfathomable high
Beginning last year, a devastating outbreak of avian bird flu rattled egg producers and forced nearly 59 million poultry flocks to be culled. As a result, egg prices skyrocketed rendering the usually cheap staple to be priced like black pepper in Ancient Rome.
Nationwide, grocery stores were peddling cartons worth $8 per dozen in extreme cases. Egg prices soon became the conversation starter for fiscally frustrated Americans as virtually all of their living costs soared.
In what’s likely the crisis’ apex mountain, desperate consumers even hopped the border to buy cheaper eggs in Mexico, presenting quite the headache for border patrol.
Prices are alleviating, poultry flocks are rebuilding
Fortunately, the situation is looking a lot better. Egg prices are alleviating as egg-laying flocks steadily rebuild. However, put an emphasis on steady.
When comparing current inventories to last year, bird flocks are still around 15 to 20 percent lower. It’s regrowing, but at a slower clip.
The Bureau of Labor Statistics reported egg prices fell 6.7 percent in February, after months of increases. A dozen of eggs were roughly $4.21.
Easter will temporarily bump prices up
If we were to come back in a few months and review data in March and April, we may actually see increases again though.
Seasonal demand has shifted egg prices upward ahead of Easter, April 9. Holiday traditions, like egg hunts or egg-dyeing, are popular this time of year so expect to see a temporary bump in price.
Following Easter though, we can sigh as egg prices are forecasted to gradually slide, hopefully reaching equilibrium sometime this year.
Virus resurgence remains a concern
Unfortunately, the chicken hasn’t crossed the road, yet.
While egg prices are slotted to keep falling, that’s only true if all stays well in recovery mode. A resurgence of last year’s virus outbreak is still a grave concern among stakeholders.
The Biden Administration has announced vaccine testing to help safeguard against further spread in poultry flocks. In theory, the livestock would be inoculated with said vaccine.
That said, a mass vaccination program leaves many speculative of the logistics behind it and if it’s practical enough to execute.
Egg producers are reportedly behind the measure, however other sectors of poultry, like broiler chicken, have their feathers ruffled.
Final Thoughts
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