New retail price data shows supermarket prices of a dozen eggs have soared to record highs. The surge comes amid an ever-expanding bird flu outbreak that has led to the culling of millions of birds, denting the size of the nation’s egg-laying hen population.
Bloomberg cited Expana data showing that a dozen eggs in the Midwest cost about $5.67 this week, exceeding the record high of $5.46 set in December 2022.
Expana’s managing editor for eggs in the Americas, Karyn Rispoli, explained that a “potent combination of avian flu-related production losses and heightened retail demand throughout the holiday baking season” catapulted prices to record highs.
She said 17 million egg-laying hens and younger birds known as pullets had been culled since mid-October amid a surge in bird flu cases, adding that was one of the worst stretches in the current bird-flu outbreak since the virus first emerged in the nation’s flock in February 2022.
“The virus also jumped to other species including dairy cattle, while a person was hospitalized with a severe case of H5N1 bird flu in Louisiana this week,” Bloomberg noted.
Wholesale egg prices via the Urner Barry Egg Index are nearing record highs (again) ….
Last month, we noted.
Egg Prices Surge Again As Grocers Face Shortages Amid Bird Flu Outbreak https://t.co/8oikLTnryy
— zerohedge (@zerohedge) November 22, 2024
And pointed out in the November CPI print: “A quarter of the November rise in prices for final demand goods is attributable to a 54.6-percent jump in the index for chicken eggs.”
This comes as global food inflation has entered a dangerous phase of re-acceleration.
The best way cash-strapped households can hedge over the elevated food inflation storm is to produce their own food. Whether it’s setting up a chicken coop, planting a garden, installing honeybee hives, or creating pastures for a few cows, now is the time to hedge against rising prices. It’s not just about prices – it’s also about health and security. Become ungovernable by taking back the food supply chain from the corrupt food industrial complex that heavily influences federal policy-making.
Tyler Durden
Fri, 12/20/2024 – 19:40
