NEW YORK — Egg costs once more reached a report excessive in February, because the hen flu continues to run rampant and Easter and Passover strategy.
The newest month-to-month Client Worth Index confirmed a dozen Grade A eggs value a mean of $5.90 in U.S. cities in February, up 10.4% from a yr in the past. That eclipsed January’s record-high worth of $4.95.
Avian flu has pressured farmers to slaughter greater than 166 million birds, largely egg-laying chickens. Simply for the reason that begin of the yr, greater than 30 million egg layers have been killed.
Learn Extra: Why Eggs Are So Costly Proper Now
If costs stay excessive, it will likely be third yr in a row shoppers have confronted sticker shock forward of Easter on April 20 and Passover, which begins on the night of April 12, each events wherein eggs play distinguished roles.
The worth had constantly been under $2 a dozen for many years earlier than the illness struck. The U.S. Division of Agriculture expects egg costs to rise 41% this yr over final yr’s common of $3.17 per dozen.
However there could also be gentle on the finish of the tunnel. The USDA reported final week that egg shortages are easing and wholesale costs are dropping, which could present reduction on the retail facet earlier than this yr’s late Easter, which is three weeks later than final yr. It stated there had been no main hen flu outbreak for 2 weeks.
“Customers have begun to see shell egg choices within the dairycase turning into extra dependable though retail worth ranges have but to regulate and stay off-putting to many,” the USDA wrote within the March 7 report.
David Anderson, a professor and extension economist for livestock and meals advertising at Texas A&M College, stated wholesale figures dropping is an effective signal that costs may go down as customers react to the excessive costs by shopping for fewer eggs.
“What that ought to inform us is issues are easing somewhat bit when it comes to costs,” he stated. “So going ahead, the subsequent CPI report could very nicely point out falling egg costs.”
Learn Extra: What to Know In regards to the H5N9 Hen Flu
Nevertheless, he would not anticipate lasting adjustments till hen inventory might be replenished and manufacturing might be changed.
“Document excessive costs is a market sign to producers to supply extra, but it surely takes time to have the ability to produce extra, and we simply haven’t had sufficient time for that to occur but,” he stated. “However I do suppose it’s going to occur. But it surely’s going to take some extra months to get there.”
Emily Metz, president and CEO of the American Egg Board, stated wholesale costs dropping is sweet information, however famous that elevated demand for Easter may drive a brief enhance in costs.
“As well as, egg farmers are intently watching spring migration of untamed birds, recognizing that wild birds are a number one reason behind the unfold of this virus and pose an important and ongoing menace to egg-laying flocks,” she stated.
Advocacy teams and others have additionally known as for a probe into whether or not egg producers have used the avian flu to cost gouge. However egg producers say the avian flu is solely behind the elevated costs.
In the meantime, eating places have added surcharges and made different adjustments to offset the price of eggs.
The Trump administration has unveiled a plan to fight hen flu, together with a $500 million funding to assist farmers bolster biosecurity measures, $400 million in extra help for farmers whose flocks have been impacted by avian flu, and $100 million to analysis and probably develop vaccines and therapeutics for U.S. hen flocks, amongst different measures. However it can seemingly take some time for that plan to make an affect.
