Egg prices have dropped for the second time this month, with wholesale prices averaging $4.15 per dozen, down from $8.05 just a week ago. The US Department of Agriculture attributes the decline to decreased demand and fewer bird flu outbreaks.
Demand for eggs “sharply” declined over the past week, while there were no significant outbreaks in March. As a result, prices are adjusting downward rapidly. However, it’s unclear if these reduced prices will stick around during peak holidays like Easter and Passover.
Earlier this month, the Department of Justice launched an investigation into the surge in egg prices, including potential price-fixing or supply manipulation. The Trump administration had vowed to bring down the price of eggs on “day one” of his second term, but it remains to be seen if they can achieve their goal.
Interestingly, the US has reportedly asked Denmark to export eggs, a move that comes amid tensions over the country’s control of Greenland, an autonomous territory claimed by the US. The request reflects the complex and competitive global egg market.
Source: https://www.yahoo.com/news/egg-prices-drop-demand-sharply-204629737.html