Posted BY: Bill | NwoReport
Wholesale egg prices have cratered in recent weeks from record highs, meaning consumers may soon see relief at the grocery store.
But the dynamics of egg pricing from the wholesale to retail market, in addition to other factors, means that’s not a sure thing in the short term.
Prices fell to $2.61 per dozen eggs on Monday — a 52% decrease from the peak of around $5.43 on Dec. 19 and a 47% decrease from the beginning of 2023, according to Urner Barry, a market research firm that specializes in the wholesale food industry. Its Midwest Large White Egg price benchmark is a widely cited barometer in the egg industry.
“Prices have collapsed,” said Angel Rubio, senior analyst at Urner Barry. “That’s a big, big adjustment downward.”
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Historic bird flu outbreak led to soaring egg prices
In a year characterized by historically high inflation, egg prices were a standout in 2022, rising faster than almost all other consumer items.
Average retail prices increased nearly 60% in 2022, according to the consumer price index.
In December, a dozen large Grade A eggs cost consumers $4.25 on average, more than double the $1.79 a year earlier, according to monthly Bureau of Labor Statistics data.
