Shea Simmons
Egg prices aren’t something many people associate with good news these days. But we’re switching that up because we actually do have some good news for you about the seemingly neverending rise in egg prices. It’s stopping!
Egg prices fell by 11% in March, and there’s reason to believe those declines will continue.
According to MSNBC, the price drop can be attributed to a recovery in egg production and a decrease in consumer demand. The outlet spoke with Brian Moscogiuri, global trade strategist at Eggs Unlimited, who explained there hasn’t been an outbreak of bird flu at a commercial egg farm since December which has aided in a supply rebound.
Bird flu was one of the leading causes of the increase in egg prices. Unfortunately, many farmers lost their chickens due to the disease in the past year creating a supply issue. Getting the outbreak under control took months and worsened access to eggs. Now, that seems to be getting better.
In addition to supply, Moscogiuri said wholesale egg prices have declined in recent weeks, and they’re the cheapest they’ve been in 52 weeks. Since retail prices tend to mirror wholesale ones, that’s a good sign that this trend will continue.
Of course, future outbreaks of bird flu could occur and feed prices could change, but for now, there seem to be positive signs that this trend will continue. If you’ve been craving an omelet lately but didn’t want to splurge on eggs, breakfast might be just around the corner.
