Soaring US Egg Prices Put Pressure on Consumers, Businesses

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Soaring US Egg Prices Put Pressure on Consumers, Businesses
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Chickens may not be able to fly very far, but the price of eggs is soaring.

The national average price for a dozen eggs hit $3.59 in November, up from $1.72 a year earlier, according to the latest government data. That’s putting stress on consumer budgets and the bottom lines of restaurants, bakeries and other food producers that rely heavily on eggs.

But even with the cost increases, eggs remain relatively cheap compared to the price of other proteins like chicken or beef, with a pound of chicken breasts going for $4.42 on average in November and a pound of ground beef selling for $4.85, according to the Bureau of Labor Statistics. In some places, it can even be hard to find eggs on the shelves. But egg supplies overall are holding up because the total flock is only down about 5% from from its normal size of around 320 million hens. Farmers have been working to replace their flocks as soon as they can after an outbreak.

“Bird flu is not the only factor, but in my view it’s the main driver of what we’re experiencing at the moment,” Lusk said. But she said bird flu remains a wildcard that could still drive prices higher if there are more sizeable outbreaks at egg farms.

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