Egg prices soared due to a bird flu outbreak that killed millions of laying hens, peaking at $8 per dozen in February. However, wholesale prices have dropped to around $3 per dozen in March as the outbreak appears contained. Consumers may not see this reduction at grocery stores immediately due to existing inventory purchased at higher prices. Demand has also decreased, with many Americans limiting or halting egg purchases, influencing the market's response to falling wholesale prices.
If you've been patiently holding off on all of the quiche recipes that you want to make because of the sky-high price of eggs, relief is finally on the way.
The wholesale price of a dozen eggs got all the way to $8 this past February, more than 50% higher than prices got during the worst of the post-pandemic inflation episode.
The most important factor in the drop of egg prices is that the outbreak of bird flu has seemingly been contained.
According to market research from Clarify Capital, 34% of Americans stopped buying eggs entirely, and 61% say they have limited their egg consumption.
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