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Texas A&M AgriLife Extension Service reported a drop in wholesale egg prices, and said the trend will continue into the Easter holiday.
David Anderson, economist and professor in the Texas A&M Department of Agricultural Economics, said wholesale egg prices reach a seasonal peak at Easter time and then are followed by price drops, but this year the prices are already dropping before the holiday.
Wholesale egg prices dropped from around $8.50 for a carton to around almost $4, he explained.
“For the most part, egg prices have been going down,” he said. “I think the recent downward trend and the previous highs really show the egg market volatility. That’s the nature of the egg market; prices can go up and down really fast.”
He added that the lower prices are attributed to the lower consumer demand due to low laying hen numbers and low egg supply.
Egg prices hit record highs amidst the bird flu outbreak that was affecting supply. According to the U.S. Department of Agriculture, prices hit an average all-time high of $6.14 per dozen.
Anderson said because of the fluctuation, he expects people will also search for some alternatives to eggs this holiday season.
“Easter is a big holiday; we typically see a price bump based on egg demand for those traditional family gatherings,” he said. “The question is, are people going to put out more plastic eggs for the Easter egg hunt and maybe skip the deviled eggs this year because of high prices?”
