Saturday, 23 November 2024

Egg Prices Surge Again As Grocers Face Shortages Amid Bird Flu Outbreak

ZeroHedge
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Wholesale egg prices via the Urner Barry Egg Index are nearing record highs (again) as the highly pathogenic avian Influenza, also known as bird flu, hits egg production at commercial farms. 

The Washington Post reports that consumers are growing increasingly frustrated with DC-area grocery stores, where signs read: "Temporarily out of eggs."

It was frustrating to shoppers at a Trader Joe's in the Union Market neighborhood of Washington, D.C., on Wednesday as they walked past an empty refrigerator case with a sign that read: "Temporarily out of eggs." One customer, Donella Brockington, worried she wouldn't have eggs to bake for Thanksgiving. "I hate going to grocery stores, so when I go and I can't get what I want, it's unpleasant," she said.

Not too far away, at a Whole Foods Market in Logan Circle, only duck eggs, quail eggs and organic pasture-raised eggs were available. A sign informed shoppers that the store was limiting egg purchases to three cartons per customer. "We are currently experiencing difficulty sourcing eggs that meet our strict animal welfare standards," it said.

The latest data from the US Department of Agriculture showed that US egg production in October dipped by 2.6% from one year ago and is forecasted to slide by 1% in 2024 compared to last year. 

Bernt Nelson, an American Farm Bureau Federation economist, told WaPo, "Bird flu is by far the biggest factor involved with egg prices," adding, "As bird flu comes and goes, our egg prices ride the wave." 

Internet searches on Google show "egg shortage" is steadily rising into the end of the year, reaching a one-year high. 

Bloomberg data shows that news stories featuring "egg shortage" jumped to 56 in October, the highest number since June when the story count was 137. Previous spikes in mid-2022 and early 2023 were during the last bird flu outbreak.

The last major egg disruption occurred in the second half of 2022 and early 2023, sending retail prices of a dozen eggs to nearly $5. 

"This is a virus that is very wily," said Emily Metz, the chief executive and president of the American Egg Board, adding, "It affects farms regardless of production, style, shape, size, and whether it's cage-free or conventional or pasture-raised."

Earlier this year, Dr. Robert Redfield, former head of the Centers for Disease Control and Prevention, sounded the alarm about bird flu...

Here's more coverage...

  • Gain-of-Function May Explain Bird Flu Jump To Cows And Humans

  • The Escalating Threat Of Avian Influenza H5N1 And The Ethical Quandary Of Gain-of-Function Research

    • Is the next big egg shortage just around the corner? 


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