Rampant spread of the H5N1 virus is hitting consumers in their pocketbooks. Retail egg prices across the country have sent Americans scrambling to buy eggs at any price, when they can find them.
Rampant spread of the H5N1 virus is hitting consumers in their pocketbooks.
Retail egg prices across the country have sent Americans scrambling to buy eggs at any price, when they can find them.
Transcript
Rampant spread of the H5N1 virus is hitting consumers in their pocketbooks.
Retail egg prices across the country have sent Americans scrambling to buy eggs at any price, when they can find them.
Walter Sentyrz, Sentyrz Liquor & Supermarket owner: “I have between 1,000 and 2,000 people a day that come to my store looking for eggs.”
A jump in infections from the H5N1 avian flu virus has led to over 38 million laying hens and pullets to be slaughtered in an attempt to slow the spread of the virus according to USDA. Over 10 percent of the egg laying capacity in the United States has been destroyed.
Mike Vickers, Sentyrz Liquor & Supermarket manager: “Right now we can't get any organic. We can't get any cage-free. We can't get any brown. At this point, we're limited to large eggs, jumbo eggs, and 18 count eggs. And they just went up again.”
Egg prices have accelerated at the same pace as infections on the farm. Retail prices over $6.00 have become common as 14 million laying hens have been euthanized in each of the last two months.
Mike Vickers, Sentyrz Liquor & Supermarket manager: “It's the first time in my life that I've ever had to be kind of embarrassed on what I'm selling eggs for. And it's not our fault. We're paying today $7.45 for a dozen eggs. We're selling for $7.59. We're making $0.14. That's doesn't pay the bills.”
Over 145 million chickens, turkeys and other birds have been slaughtered during the current outbreak. California alone has lost 90 percent of its egg laying capacity.
A return to normal egg prices would require a rapid restocking of the laying flock or a reduction in egg demand. With the rate of infection increasing, egg prices will probably remain inflated for the near future.
For Market to Market, I’m Peter Tubbs.
Watch More
The White House adds detail to the new trade deal, while China dodges the details. The drought continues to hammer the south and west. We’ll look at the ticking clock facing the dairy industry. And, commodity market analysis with Sue Martin.
The White House announced this week that President Trump has secured “historic trade deals with China” after his visit last week with President Xi.
This week, the East Coast received an early blast of summer, with highs in Philadelphia reaching into the 90’s with the heatwave expected to continue through the weekend.
Sue Martin talks interest rates, oil, corn, soybeans, hogs, cattle and packing plants in our Market Plus.
Sue Martin discusses the latest trade deal with China along with corn, soybeans, cattle and hogs in our Market Analysis.
Agriculture gets sorted to the side during high-stakes negotiations with China. The yeas have it - E15 is approved in the House but not without some pushback. Revving up fans, drivers, and rural communities on the dirt track. And, commodity market analysis with Naomi Blohm.