Egg prices have been skyrocketing and it has been putting a major damper on a lot of people’s grocery shopping.
That’s what makes this story such an important one. Egg prices have been at record highs for a few months now. That is because the United States has been dealing with the aftermath of a major bird flu outbreak that has had a drastic effect on egg availability.
As long as the flu does not rebound, the prices are expected to continue to dwindle. This news comes as a major relief to shoppers who have gotten tired of the higher prices. The price of a dozen eggs was up 150% in January, as compared to the prices at the same time last year. Now, wholesale egg prices are slated to fall by nearly 27%.
This news comes to us courtesy of USDA Chief Economist Seth Meyer. He passed these numbers along during a recent presentation that took place at the annual USDA Agricultural Outlook Forum in Virginia.
Since February 2022, nearly 60 million backyard and commercial chickens and turkeys have passed away and this has put a major strain on the American wallet. Finally, good news has arrived.
We love having any opportunity to brighten the days of our readers. Egg production is going to increase by 4 percent this year and this will allow the number of chickens who lay eggs to rebound significantly. “While not quite there yet, a full recovery in the laying flock is expected,” said the USDA in their recent livestock and poultry forecast, according to DTN’s Progressive Farmer.
These projections are all based on the idea that there will be no more bird flu outbreaks, so be sure to bear this factor in mind. However, the virus that the birds are experiencing has since been classified as endemic. This means that the virus is not going anywhere. It will now become a year-round concern, as opposed to functioning merely as a seasonal problem.
According to Reuters, farmers, for their part, have raised various concerns about the hike in egg prices. They believe that the bird flu is not the sole factor that is at play here. They are very worried that the hikes could be taking place at least in part because of corporate price gouging. Avian flu may not be the only problem. Two different lawmakers have sent letters to the top five egg companies in the United States, asking for further info on how prices have risen.