36 • URNER BARRY'S REPORTER / VOL. 18, NO. 4 / FALL 2023
While history will undoubtedly recount
fiscal year 2023 as the highest and most
volatile on record for the U.S. egg market,
a lesser known fact is that this year will
also go down in history as one of the most
stable ever witnessed. From national news
headlines to late-night talk shows to a
seemingly endless stream of memes, it
was almost difficult to avoid the topic of
"eggflation" in the early part of the year.
Heck, it even earned a mention at this
year's Grammy awards, when the show's
host, Trevor Noah, asked Taylor Swift if she
could get her fans-who he surmised are
capable of just about anything-to "handle
the price of eggs."
Little did Noah know, the egg market was
already underdoing a sharp correction-
one that would continue in near-perpetuity
for the next several months-as U.S.
farmers recovered from the deadliest
bird flu in history. To recap for those who
may have been living off the grid for the
past year or so, highly pathogenic avian
influenza (HPAI) swept across the nation in
2022, leading to the depopulation of more
than 44 million egg-laying hens. The severe
supply shortage that ensued caused
Midwest Large-Urner Barry's benchmark
shell egg quotation-to spike to an all-time
high of $5.46/dozen in late December.
But as is often the case after we move
past the holiday baking period, demand
simmered and so did prices. With the
exception of a comparatively short-lived
rebound in the lead-up to Easter, the
market remained under pressure through
the start of May, eventually bottoming
out at an almost two-year low of $0.94/
dozen. A dead-cat bounce lifted prices
back to $1.28/dozen by May 25-and that's
where things get interesting, or decidedly
uninteresting, as the case may be.
From "eggflation" to stagnation…
The U.S. egg market stabilizes as
farmers recover from bird flu
$0.00
$1.00
$2.00
$3.00
$4.00
$5.00
$6.00 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
$/doz
Urner Barry Midwest Large, White
Source: Urner Barry
2022 2023 5 Yr Avg
1,000
1,500
2,000
2,500
3,000
3,500
K lbs Weekly Egg Processing Report - Dried
Source: USDA, Urner Barry
"...consumers, after months of paying
exorbitant prices for eggs, were extremely
receptive to the new lower pricing..."