Egg Prices Have Returned to Normal—And Could Get Even Cheaper
The largest supplier of eggs in the United States says it has a surplus of hens, which is driving the price down.
You might recall that this year's Easter celebrations were more costly than usual—the price of a dozen eggs were over $2.70 at the end of March, which was just under the record set for priciest eggs back in 2015 when the European avian flu scare made headlines. Bloomberg is reporting that eggs are sliding back into the lowest prices they've been all year—and we could soon see a record low later this summer.
Cal-Maine Foods, the largest producer of eggs in the United States, said they've had almost 10 percent more chicks hatch this year than expected. Because they have more livestock than they planned for, they're also expecting a larger bounty of eggs, which means that the excess supply will drive down egg prices even more.
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According to data collected by the United States Department of Agriculture, eggs have been enjoying a steady decline in price since the near-record high earlier this year—at one point, in mid-May, wholesale price for eggs were just hovering near .75 cents a dozen. They're now sitting comfortably at $1.19 a dozen.
The same data shows that farmers in the U.S. collected more than 7.93 billion eggs to be sold in May 2018 alone, which is up nearly three percent from last year. As eggs enjoy a health halo after being the focus of health-focused research this year, things are looking up for those who enjoy cheap and healthy meals.