(NAFB) Consumers continue to ask why the cost of eggs continues to be so high. According to Forbes.com, the median cost of a dozen eggs in the U.S. remains at $4.25. over twice what it was a year ago. And while increased inflation in 2022 has contributed somewhat, the real reason egg costs remain high is due to the Avian Influenza, causing as many as 58 million chickens to be affected.
However, a nonprofit group called Farm Action says that after reviewing USDA data, they find that there has not been a significant drop in egg supplies, Farm Action’s Dee Laninga.
Sarah Carden also with Farm Action says a lack of competition is the real culprit when it comes to high egg prices at grocery stores.
Farm Action cites that Cal-Maine foods controls 20 percent of the retail egg market, and they reported quarterly sales up 110 percent and gross profits up more than 600 percent over the same quarter in the prior fiscal year, that according to a December filing with the Securities and Exchange Commission.
###################################################################
Submitted by Micheal Clements on Tue, 02/07/2023 – 12:19
Source: FBRD (Farm Broadcaster)
Audio provided by Lorrie Boyer, KSIR, Fort Morgan, Colorado
Audio with Farm Action’s Dee Laninga, Sarah Carden
Saturday Morning News
