Current Price Trends

The average cost of eggs has reached an unprecedented $6.23 per dozen as of March, a record highlighted by the latest Consumer Price Index. Interestingly, this rise occurred despite a reduction in wholesale prices and the absence of bird flu outbreaks at egg production farms.

Historically, egg demand typically increases in the period leading up to Easter, which falls on April 20 this year, further complicating the price dynamics.

Factors Behind the Price Increase

Experts attribute the recent spike in egg prices to a combination of factors. Jada Thompson, an agricultural economist at the University of Arkansas, explained that the decline in wholesale prices did not translate to immediate changes in retail prices, as grocery stores may not have swiftly adjusted their pricing strategies.

In addition, the repercussions of earlier bird flu outbreaks are still felt. Over 30 million egg-laying chickens were culled to prevent the disease from spreading in January and February, causing significant supply disruptions. Recent reports indicated that in March, even though 2.1 million birds were slaughtered, none were from egg-laying farms.

Those farms affected by past outbreaks are now working towards resuming production. However, newly replaced flocks require approximately six months to reach the laying phase.

Comparison to Previous Months

In examining historical trends, the average egg price was recorded at $5.90 in February and had previously set a record of $4.95 per dozen in January. Consumers are currently facing significantly elevated prices across various regions, with some California stores charging upwards of $12 per dozen.

In August 2023, prices had seen a decline to $2.04 per dozen after peaking at $4.82 in January. The latest figures are indicative of rising costs which are concerning for many households.