The highly concentrated egg market may be contributing to soaring consumer prices – and the spread of the virus, data shared exclusively with the Guardian shows

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.

  • Egg prices soared to nearly $5 a dozen, rising 157% since before the avian flu outbreak, despite only a 9% drop in laying hens.

  • Cal-Maine, controlling 20% of the US market, saw a sevenfold profit increase in 2023 compared to 2021.

  • 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.

  • Raiderkev@lemmy.world
    17·
    1 month ago

    They were caught doing it the last time bird flu was a thing. Trump then fired the people who caught them, so, good luck

  • Monstrosity@lemm.eeEnglish
    15·
    1 month ago

    Don’t worry everyone, the Consumer Protection Agency will take care of…

    Oh, nvmd.

  • Buffalox@lemmy.world
    152·
    1 month ago

    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.

    • snooggums@lemmy.worldEnglish
      4·
      1 month ago

      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.

    • eatCasserole@lemmy.world
      21·
      1 month ago

      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.

  • hark@lemmy.world
    5·
    1 month ago

    This is why I refuse to buy eggs until prices go down to normal. I’m not going to reward them for taking advantage.

  • Baguette@lemm.ee
    4·
    1 month ago

    Lol I just don’t buy eggs now. I could buy any other protein for the price of eggs now