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Why did the price of eggs go up? Here are a few reasons

From Yahoo! Finance

Why did the price of eggs go up? Here are a few reasons

The price of eggs remain high across the country as the holidays roll around.

The price of eggs have jumped about 24% from June of this year to October, according to the U.S. Bureau of Labor Statistics. The price of a dozen grade A large eggs in June was $2.72, and that price increased to $3.37 this past month.

The current price of eggs is a slight decrease from last month according to government data. The price of eggs in September was $3.82 per a dozen, the highest price since February of 2023 when eggs prices soared above four dollars.

Egg prices were on a decline after the peak of early 2023, remaining at above $2 but less than $3 from May 2023 until July of this year.

The price of eggs have not lowered to under $2 since January 2022. Historically over the past decade before 2022, the price of dozen eggs usually sat at under $2.

Experts say there are a number of reasons why the price of eggs increase or decrease over the months.

One agricultural economics professor at University of California, Davis, Daniel Sumner, attributed the decline of egg prices in the summer 2023 to more hens producing more eggs during that time of year. "There are now more hens and more eggs on the market. That is, supply has increased, and prices have normalized," Summer told NorthJersey.com over a year ago.

Farmers said egg prices saw a dramatic increase in 2022 because of the bird flu virus, also known as Avian Influenza, that struck flocks across the country.

"Because of the bird flu, [farmers] had to reduce whole flocks and flocks of birds, and that just interrupted supply, and that made a shortage and prices went through the roof," said Peter Furey, executive director of the New Jersey Farm Bureau.

New Jersey has one of the lower HPAI cases in the country according to the U.S. Department of Agriculture. No new detections of the virus in wild birds have been found in New Jersey over the last 30 days according to the metrics.

Even though the virus is low in New Jersey, 10,000 cases still remain across the country. The lingering effects from past outbreaks may still be the reason why prices remain high.

Another reason for the increase in prices could be the high demand that usually occurs this time of year in the winter and fall.

Brian Earnest, an animal protein economist with CoBank, told NerdWallet that the demand for eggs usually increase later in the year, especially with seasonal baking and the school year in effect with cafeterias and dining halls often featuring eggs in their menu.

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