When Can We Expect Lower Egg Prices In New York?
The price of eggs has skyrocketed. Why have they gone up, and more importantly, when will they go back down?
If you've purchased eggs recently, you know just how expensive they've become. Last week I bought a dozen eggs for $4.99. When I was standing at the cooler window, I remember a couple standing behind me just astonished that they were that expensive. They cost double what they used to cost just a year ago. In California, they're up to $7 per dozen or more. Nationally, the average retail price for a dozen large eggs is $3.59. Immediately it felt like a terrible time to go on a high-protein, low-carb diet!
A friend of mine who is a farmer put up on his facebook page a picture of a couple dozen eggs and added the caption, "Trade for mid 80's Ford truck. No low ballers I know what I have." It was a joke, but it wasn't far off. They're getting very pricey.
But why are they so expensive?
Yes, inflation is part of the issue, but probably the bigger issue is supply chain problems. Unfortunately, we have fewer chickens these days, so we have fewer eggs. You may remember that millions of chickens were victims of the Avian Flu not too long ago.
According to Michael Swanson, an economist at Wells Fargo, it was more than 53 million birds that were lost to the bird flu. That means 5% fewer laying hens, and therefore fewer eggs.
Now add in the extra cost for feed and what it costs to replace the birds that were lost...eggs are expensive.
So when will the price go back down?
Emily Metz, is the President & CEO of the American Egg Board. She seems pretty optimistic that they will go back down soon. She says, "The good news is that our farms are recovering quickly. Most of the egg farms that were affected by bird flu have recovered and are back to producing eggs.”
I wouldn't expect that they will be going back down in days though. You can probably expect these prices to stay high for a couple of months.
What if your store is always out of eggs?
Experts suggest that you do your shopping early to get the best chance of buying them. Many people will stock up, knowing that there's a shortage. But if you can get there early on a weekday, you might be able to catch them right after they've stocked.
If you can, find a local farm and BUY LOCAL! These farmers can use your help, and hopefully, they will be able to sell you their eggs without having to worry about shortages and supply chain issues.
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