eggflation?
the price of eggs is more than *double* what it was a year ago. check out the u.s. bureau of labor statistics chart of historical egg prices here
in fact, this price hike could last throughout the first 1/4 of 2023, says cnbc. eggs were hit hardest of any consumer good
- year-by-year inflation hit eggs the hardest with a whopping 49% cpi increase from the previous year
- the quantity of eggs produced is continuing to decrease into the new year
- price pressures appear to be easing, tho, so hopefully there will be a price decrease sooner rather than later
but wait, the average price of chicken meat has been falling, rapidly. check out the labor stats on that, here
wtsp.com said to blame a bird flu outbreak. it’s killing egg-laying hens at far greater rates than chickens raised for meat production
- there are two different types of chickens on the market: broilers (raised for meat) and layers (raised for eggs)
- broilers are raised to be healthy w/ more breast meat for market, and aren’t really affected by bird flu bc of their shorter life span
- monthly broiler production is also up, which generally means lower prices
cnbc agreed: bird flu is why eggs are so expensive. 50 million birds have been affected by a “highly pathogenic avian influenza”
- bird flu is pretty rare, the last bad outbreak was in 2015
- it’s also super deadly, killing 90-100% of infected chickens
- the chickens often die within 48 hrs
but vox was sure macro inflation affects egg prices. in fact, it explains overall inflation by looking at the specific factors that contribute to egg price inflation
- the cost of chicken feed has gone up between 30-50% since 2020
- demand for eggs was very high, esp during the early months of the pandemic
- gas and labor costs have also risen, meaning that it cost more $ to get eggs on shelves
and some farmers likewise say we shouldn’t blame bird flu alone, reported the financial times. they say the main problems are high production costs and low supermarket payouts -- supermarkets are profiting without helping farmers
- as supermarkets raise the price of eggs, they aren’t giving more money to farmers
- farmers need the extra money due to increasing production expenses, so they end up halting egg production in order to avoid making no profit
yup, price gouging is def happening, wrote time -- firms are making a profit while consumers pay ridiculous amounts of $$
- cal-maine foods, america’s largest egg producer, saw a 600% jump in profits last quarter
- meanwhile, egg prices rose to $4.25/dozen. in december of 2021, a dozen eggs cost $1.79
- price gouging isn’t technically illegal, but lawmakers have spent years trying to push for stricter price regulations
but forbes said corporate greed isn’t the problem. firm’s profits are way too small to be the driving force behind the price surge
- the theory came about bc ppl needed someone to blame, not bc there’s any truth to it
- some states have begun to exclusively sell cage-free eggs, and more ppl are opting for that more humane, more expensive choice
- even if every egg company had the same profits america’s egg industry leader had, egg prices would only be up about 8%, not 138%
there’s a similar debate overseas. the deputy leader of the uk independence party: supermarkets are lying! there’s no bird flu -- supermarkets are just money hungry. read her tweet here
this uk farmer was more measured: yes, the flu is real, but supermarkets using it as an excuse not to pay farmers their due. read his tweet in full
the washington examiner: there’s no question the flu has killed a lot of birds, period. that can’t *not* affect the price of eggs
- inflation and supply chain issues are also a huge part of the problem, but this year’s outbreak is historically bad
- by the way, bird flu is also leading to an increase in turkey prices, just before thanksgiving
so should you raise your own chicks?? check out our tile on backyard chickens here
msn made a slideshow that shows the price of eggs the year you were born, proving just how much has changed. fair warning: it starts at 1939, so zoomers will need to scroll for a hot sec before hitting their birth year
up next...
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