Despite a decline of more than 50 % from their February spikes, retail prices continued to decline in March.
Wholesale prices are the charges that retailers can charge for their shops while wholesale prices are the prices that retailers can charge for their products. Since the retailer needs to profit and cover related costs, wholesale prices are almost always significantly higher than retail prices.
Industry experts who spoke with the Associated Press expressed concern about the connect between falling retail prices and rising retail prices, though some speculated that the increase may be temporary and will quickly reveal falling retail prices.
President Donald Trump and Agriculture Secretary Brooke Rollins both predicted this at a Thursday Cabinet meeting.
“Eggs are down big, right?” Big”? Trump posed a question.
” Wholesale prices. Retail will be here. Easter is the egg Super Bowl. So you are aware that there will be some fluctuation. But” we’re really happy,” Rollins said.
Since Trump took office, wholesale egg prices have decreased by about 50 %. The majority of this change occurred in March, so it might take some time for it to be communicated to retailers and consumers.
Egg prices started to decline in the middle of March, according to Datasembly, a market research firm. On March 16 and March 30th, an egg price of$ 5.98 was on the weekly average for a dozen of them, and it dropped to$ 5.51.
The consumer price index keeps monthly averages, so it was too late to include the change in the final tally. Egg prices in April’s average will likely significantly lower due to factors like Easter, increased imports, and rising wholesale prices.
State-specific egg prices vary also depending on where bird flu outbreaks occur and state laws requiring cage-free eggs. A dozen eggs cost$ 6.34 in Richmond, California, and$ 4.97 in Omaha, Nebraska.
The Trump administration has employed a strategy of shoring up farms ‘ defenses against bird flu outbreaks, which appears to have worked so far as the Associated Press has not reported any other bird flu outbreaks. Rollins announced the import of hundreds of millions of eggs from South Korea and Turkey as part of a revamped egg production strategy.
PRICES DROP SIGNIFICANTLY, WHILE TRUMP ADMINISTRATION IMPORTS HUNDREDS OF MILLIONS OF EGGS
Rollins claimed that the imports are only a temporary measure to stabilize prices while efforts are being made to repopulate the country’s chicken population.
” We are discussing hundreds of millions of eggs for the very short term. Not insignificant, but significant enough to support the price reduction right now,” she said. ” And then we shift back to our internal egg-layers and putting those eggs on the shelf when our chicken populations are repopulated and we have a full egg-laying industry in place, hopefully in a few months.”
