Egg prices drop for first time this year

Prices experienced their largest monthly decline in over four decades.

U.S. retail egg prices experienced a decline in April, marking the first drop after reaching record-high prices earlier in the year. 

Data from the US Bureau of Labor Statistics indicated that the average price for a dozen Grade A eggs fell to $5.12 last month from a peak of $6.23 in March.

The big picture: The overall average price of eggs of all sizes dropped by 12.7%, the most significant monthly decline since March 1984. 

  • Despite this decrease, retail egg prices continue to hover near historic highs due to ongoing challenges in the industry.

Driving the news: The current high prices are attributed to a persistent outbreak of bird flu that has led to significant losses in flocks of egg-laying hens. 

  • In April, the average price for a dozen large eggs remained 7.9% higher than the prices a year earlier, with an average cost of $2.86 per dozen.
  • Some stability in the egg supply has been achieved as the number of bird flu outbreaks at commercial poultry operations has decreased in recent weeks. The US Department of Agriculture reported 59 outbreaks in February, 12 in March, and only three in April.
  • To combat the challenges faced by the poultry industry, the US Department of Agriculture allocated $1 billion to assist farmers in enhancing their biosecurity measures to fight bird flu. Additionally, the US has increased its imports of eggs from countries like South Korea, Turkey, and Brazil to meet domestic demand.
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