Surplus leads egg prices to ten-year low
© WATTAgNet.com - posted first on wattagnet.com on .
Ivaylo Georgiev, Freeimages.com
Demand for eggs has not kept up with the supply, leading egg prices to reach their lowest point in 10 years.
With the oversupply expected to continue, Bloomberg reports that government officials are expecting egg prices to drop more than any other food group in 2017.
The oversupply is largely attributed to the 2015 avian influenza outbreak, which led to depopulation of flocks and subsequent high egg prices. Responding to high retail prices, many egg producers expanded flocks, and with avian flu-affected farms now repopulated with younger, more productive hens, egg production is now so high the consumer demand has not kept pace.
“The market was temporarily staved for eggs, and now it’s drowning,” Tom Elam, president of FarmEcon LLC, told Bloomberg. “There’s just too many eggs out there.”
Bring on the Omelets: Bigger Flocks Send Egg Price to Decade-Low
It doesn’t matter if you like them hard-boiled, scrambled or soaked in heart-clogging hollandaise sauce: when eggs are this cheap, it’s a good time to get cracking.