Egg price spike prompts demands for price-gouging probe

[riversedge]

Source: raw story





January 24, 2023 / 6:31 PM / CBS/AP

With egg prices more than doubling in the past year, calls are coming for an investigation into possible price gouging.

U.S. Sen. Jack Reed sent a letter Tuesday asking the Federal Trade Commission to investigate whether egg prices have been improperly manipulated by producers. A farmer-led advocacy group called Farm Action made a similar request last week arguing that there "appears to be a collusive scheme among industry leaders to turn inflationary conditions and an avian flu outbreak into an opportunity to extract egregious profits."

Egg prices have soared 60% in a year. Here's why.
Customs officials are seizing eggs at the U.S.-Mexico border

The spike in egg prices has been attributed to the millions of chickens that were slaughtered to limit the spread of bird flu and farmers having to compensate for inflation driving up their costs......................

Read more: https://www.cbsnews.com/news/egg-prices-price-gouging-senator-jack-reed-probe/

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[KPN]

1. And here, I thought it was all just because

“hens aren’t laying”.

[IronLionZion]

21. Nobody wants to work anymore

not even those lazy hens

[Pete Ross Junior]

44. Latest RW conspiracy theory

Hens aren’t laying due to deep state bio-warfare.

I won't link, but I've seen it in more than one place.

[KPN]

45. Too funny!

[Lonestarblue]

2. Gasoline prices have started sneaking up here in Texas--up 12 cents a gallon over last week.

I haven’t seen any reason for rises to increase other than another attempt toward predatory pricing. I guess since inflation has eased a bit, the oil companies will try to make it go up again.

[True Blue American]

3. Why are egg prices soaring, but chicken

Prices going back to normal? What is the difference?

[Delarage]

6. I guess we know now

That the chicken came before the egg. In terms of prices, at least

[True Blue American]

14. :)

[Bristlecone]

19. Two different types of chickens: layers and fryers

Layers were hit harder by avian.

Still, egg profits have never been higher. It’s opportunistic gouging.

[True Blue American]

25. Thanks

I am from the old school. My Dad’s chickens provided both, except the roosters.

That old rooster hated me for some reason. My Mom did not dare let me out in the back yard. That old rooster would go after me every time! I was 2 or 3! I think my Dad wrung his neck, but could not swear to that.

[Bengus81]

5. Quik Trip jacked the price 21 cents in two hours on Monday here in Wichita

More of the same BS gouging.........

[Bengus81]

4. And when they get done with that GOUGING probe there's hundreds more...

Last edited Wed Jan 25, 2023, 10:00 AM - Edit history (1)

GREEDFLATION is all this is about,and all it has ever been about.

[nightwing1240]

7. Agree!

The price of soda pop was low back in the day and then there was a "sugar shortage". The price shot up and never came back down. Eggs are just the latest item. It has happened this way with lots of items beyond eggs and sugar.

[Owl]

8. Yes gouging all around.

[cstanleytech]

17. Well that happens because the ones running the corporations care only about their shareholders

and the dividends especially because most of them also own said stock.

[dalton99a]

40. +1

[twodogsbarking]

9. Were $ 1.39 now $4.59. A 60% increase.

Y'all follow that.

[radicalleft]

12. Uhm...that's more like a 300% increase

check your math

[twodogsbarking]

13. It is government math. The government that keeps track of classified

documents and arrests former Presidents that try to overthrow the government.

[radicalleft]

23. LOL...good one

haha

[rickford66]

10. Eggs are treated like oil

Years ago someone told me his father was in a business that sold produce etc and eggs can be kept for quite some time. Thus the supply can be controlled much like OPEC controls oil prices. True or not, all I can say is what he told me.

[IronLionZion]

22. If cleaned and stored properly, eggs can last about 6 weeks

so not quite like oil or diamonds or precious metals, which really are run by cartels colluding to keep prices high.

There is plenty of competition in the egg market. My coworker has over 100 egg laying hens with 0 avian flu cases. There are egg farms everywhere. Some were hit harder than others with avian flu.

[Demsrule86]

11. Eggs are down here in Northeast Ohio...3.49 at Giant Eagle which last week was higher

and Sams and Aldi are even lower.

[True Blue American]

16. Southwest

Kroger had a coupon. $2.49

[cstanleytech]

15. Eggs in my area have been plentiful and there have been zero shortages in my area at all.

That alone causes me to question the spike in egg prices with the excuse that there is "shortage" of eggs.

[Ferrets are Cool]

18. Hey Sen Reed, IT AIN'T JUST EGGS!!

[The Jungle 1]

20. Republicans allow oil companies to gouge us all the time.

No way will they stop egg price gouging.

[Bengus81]

24. If people would boycott eggs for two weeks all this bullshit would end

But they won't and that industry knows it.

[bucolic_frolic]

26. 60%? More like 500%

Though I did feel lucky today to grab a dozen Mediums at $2.99. Lowest in about 6-8 weeks.

[jaxexpat]

27. Inflation is ALWAYS code for profit maintenance or increase.

[Pepsidog]

28. Where is Teddy Roosevelt when you need him? Any TR's in waiting in the Dem party?

G

[randr]

29. Eggs are an important source of Protein and the cheapest

I raise chickens, have for years. We feed organic grain and supply our hens with a very comfortable life. If I were to charge .50 and egg we would still be losing money. A .50 cent egg would still be a bargain when compared to other protein sources.
The only way the price of eggs is able to stay so low is by treating chickens as factories.

[DownriverDem]

30. It's due to a virus

Many hens died and others had to be put down.

[Mosby]

31. Egg producers profits have soared.

And production only went down 6-9% due to the bird flu. They saw an opportunity to price gouge and they did, and continue to do so.

[Warpy]

32. I live in a state where eggs are still cheap protein

Worst hit states are CA, HI and WA. IL is the cheapest state.

There are 3 things affecting prices: massive culls of sick birds due to a bad bird flu; decreased production because this is the lowest production time of the year; and increased demand because wages have gone up enough for marginal workers to afford them.

Prices will start to drop by March, when hens start laying again and the bird flu crisis is over (I hope). There's no way any progressive would want wages dropped back below subsistence, right? Demand will stay up.

Even the freeze dried granulated eggs used by backpackers are expensive now. I'm not fond of eggs by themselves, so I use these for baking and they work fine.

[womanofthehills]

43. You can't make this up - forget about the drugs

The US is confiscating eggs being smuggled over the Mexico border.

[moose65]

33. I knew it!

This is all a scheme by Big Egg!!!

[maddogesq]

35. Yesterday on Morning Joe I heard Mika draw groans when...

she said the high price of eggs is the “result of fowl play.”😎

[moose65]

36. Haha

I feel certain there is a joke somewhere about a Fox (News) in the hen house........

[Bayard]

34. Our girls are just starting to lay 4-5 a day

With more daylight hours.

But winter production should not be seasonally affected in the big operations. Mr. Bayard used to do electrical work for those companies. Big industrial lighting from 6 am to 6 pm.

[keithbvadu2]

37. Easter potatoes

[oasis]

38. Investigation necessary. nt

[tonekat]

39. May as well go to a farm

and get a dozen eggs in those pretty colors!

[Kennah]

41. They're too chicken to lay eggs