Wholesale egg prices in the United States have been decreasing for three consecutive weeks, according to the U.S. Department of Agriculture (USDA). Last week, the national average price for a dozen eggs fell to $4.15, a significant drop of $2.70 from earlier weeks. This decline follows a period of high prices caused by bird flu outbreaks and increased demand.
The recent decrease is attributed to a lull in bird flu cases, which has allowed the egg supply to recover. However, consumers may not see immediate changes at grocery stores due to inventory and pricing strategies. Joseph Balagtas, an agriculture economics professor at Purdue University, explained that the eggs currently on store shelves were purchased at higher wholesale prices a few weeks ago. He anticipates that retail prices will start to decrease soon.
The Justice Department is investigating whether major egg producers contributed to the price spikes. Despite this, economists like David Anderson from Texas A&M University believe the high prices were primarily due to bird flu's impact on supply, not price gouging.
The decline in wholesale prices is a positive sign, but experts caution that future bird flu outbreaks could reverse the trend. As reported by NPR, the upcoming Easter and Passover holidays are expected to increase demand, but they are not likely to significantly hinder the price drop.