Summary
Major egg corporations may be using avian flu as a ruse to hike up prices, generating record profits while hurting American consumers, new research suggests.
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Egg prices soared to nearly $5 a dozen, rising 157% since before the avian flu outbreak, despite only a 9% drop in laying hens.
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Cal-Maine, controlling 20% of the US market, saw a sevenfold profit increase in 2023 compared to 2021.
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Over 166 million poultry have been culled, but critics say consolidation and slow flock replacement may inflate prices beyond the virus’s 12-24% direct cost.
Lawmakers urge investigations, while the Trump administration plans vaccines, reduced culling, and a $1bn avian flu fund to help stabilize costs.
Capitalism functioning as expected. Shocking.
They were caught doing it the last time bird flu was a thing. Trump then fired the people who caught them, so, good luck
Don’t worry everyone, the Consumer Protection Agency will take care of…
Oh, nvmd.
They can hike prices as much as they want, there is nothing illegal or even wrong (arguably) about that. As long as people buy enough for it to increase profits, it’s obvious they will do that. That’s the reason free competition is important. Free as in preventing monopolies and cartels.
But Americans have lost interest in free competition, and prefer models that maximize profits now.It’s amazing in hindsight just how much of our capitalist free market was just a show to compete with the Soviet Union. Now our biggest rivals are both just corrupt oligarchies too.
Something big is due for a change.
They can hike prices as much as they want, there is nothing illegal or even wrong (arguably) about that.
In the US there are exceptions to the charge anything standard, such as limitations on gouging on gas pricing during emergencies and laws against companies colliding on price hikes. The protections kick in when customers don’t have a choice, and it is possible that all egg companies raising prices to seek profits while blaming something that has far less of an effect than the prices indicate could potentially fall into one of those two categories.
Not that it matters as the penalties are always far less than the abuse, but pricing in the US isn’t a complete wild west.
Chicken egg shortage is not an emergency. gas is irreplaceable for transport, eggs are not irreplaceable for food.
gas is irreplaceable for transport
Bicycles, walking.
People who hoarded toilet paper and hand sanitizer were punished despite soap and water existing.
https://www.today.com/news/brothers-who-hoarded-17-700-bottles-hand-sanitizer-forced-donate-t176028
What do you think these companies were freely competing for? It’s profits. It has always been profits.
Cartels and monopolies are what happens when you have “free competition” for a bit, and then someone “wins” the competition.
The industry has already been found liable for such behavior: https://apnews.com/article/egg-producers-price-gouging-lawsuit-conspiracy-be6919b3fb42bf2d9d3884d5e133e91d
People cannot keep up with the costs. The government isn’t doing anything. They let corporations get away with everything
sighs This is so very frustrating. 😖
What a hurtful thing to say about a “person”.
/s
Too bad price gouging isn’t prosecuted anymore.
Wow, this is truly unprecedented. We haven’t ever seen anything like this before!
Shocking I tell you. Shocking. 😮
Shocked Pikachu face.
$5/dozen is pretty good compared to most prices I’ve seen.
This is why I refuse to buy eggs until prices go down to normal. I’m not going to reward them for taking advantage.
Lol I just don’t buy eggs now. I could buy any other protein for the price of eggs now
They’re $11 in southern California.
I saw $10 at my regular store in Ohio last week. The same was $2 three years ago. That wasn’t even good “free range” eggs although I don’t believe that marketing. Backyard chickens are where it is at.
$11 in Western WA state too.
$5?! Where?! They’re $9.99 here in Los Angeles. :(
$16.49 in Brooklyn yesterday
For real, Seattle is like this too. We’re going to be paying $1/egg soon!
Kirkland Costco, admittedly 2-3 weeks ago. Something like $9.59 for two dozen.
Something between $9 and $10 on the price tag is what I remember.
No idea what it is now.
6.79 out here in rural nebraska, they were 3.50 a month ago
It’s a free market!!!
Torches & pitchforks.
