The extensive price jump in eggs in 2022 is eggspected to eggstend well into 2023. 🐔
Eggs will have increased by over 49% in 2022. Compared to other core categories, the price of eggs has skyrocketed.
It is a concern because eggs are considered a kind of ‘holy grail’ for protein: complete protein profile, plentiful and cheap. But that’s changing.
Egg layers have two major problems: high input costs and the continuing avian flu.
CFO Michael Morgan of Dakota Layers, a family-owned egg layer in Flandreau, South Dakota, said, “We don’t anticipate prices going higher, but we don’t see them going down yet, either.”
Morgan explained that “Cost inputs are just one of the primary drivers. Chicken feed and rations use corn and soybeans, commodities which are still high.”
Corn and soybean prices pit egg layers against livestock and ethanol producers – which exasperates an already competitive supply chain.
“The chief culprit behind the price rise is the avian flu affecting the nation’s bird populations,” Morgan said.
The 2022 avian flu is the worst bird flu outbreak in U.S. history.
According to the United State Department of Agriculture (USDA), national depopulations have totaled an estimated 44 million YTD out of 325 million birds (egg-laying hens) – that’s 13.5% of the total hens.
Until the bird flu has run its course and feed commodity prices drop, eggs are eggspected to remain at elevated prices. 🐣