{"id":1819805,"date":"2023-01-23T06:35:49","date_gmt":"2023-01-23T11:35:49","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1819805"},"modified":"2023-01-23T06:36:28","modified_gmt":"2023-01-23T11:36:28","slug":"farm-group-calls-for-investigation-into-u-s-egg-price-surge","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/farm-group-calls-for-investigation-into-u-s-egg-price-surge\/","title":{"rendered":"Farm Group Calls for Investigation Into U.S. Egg Price Surge"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffarm-group-calls-for-investigation-into-u-s-egg-price-surge%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1819805&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"featured featured-video video-ct\">\n<div class=\"contain\">\n<div class=\"info\">\n<div class=\"caption\">\n<p>Lydia Hu, FOX Business correspondent has the latest news on the impact of the Avian Bird Flu on &#8220;America&#8217;s Newsroom&#8221;.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Skyrocketing inflation in the U.S. has had a devastating effect on consumers&#8217; wallets.<\/p>\n<p>According to the Bureau of Labor Statistics, eggs are the latest worry. Their price rose 138% to $4.25 per dozen in December from the previous year.<\/p>\n<p>A farm group calls on the<a href=\"https:\/\/www.foxbusiness.com\/category\/government-and-institutions\" target=\"_blank\" rel=\"noopener\"> Federal Trade Commission (FTC)<\/a> To examine the rising price of eggs at top companies, look out for signs of price gouging.<\/p>\n<p>In recent years, a variety of groups including regulators, farmers, and industry officials have often debated the power of top agricultural firms to set prices for groceries and increase what consumers pay.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/lifestyle\/sky-high-egg-prices-historical-look-egg-costs-since-1980\" target=\"_blank\" rel=\"noopener\"><strong>&#8216;SKY-HIGH&#8217; EGG PRICES: A HISTORICAL LOOK AT EGG COSTS SINCE 1980<\/strong><\/a><\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2023\/01\/931\/523\/Inflation-Egg-Prices.jpg?ve=1&#038;tl=1\" alt=\"Inflation affecting egg prices\"   style=\"display:none\"><\/div>\n<div class=\"caption\">\n<p><span>A Glenview grocery store shopper checks eggs before buying at the counter. Due to rising prices and inflation, border officials are increasingly able to seize eggs.\u00a0<\/span><span> (AP Photo\/Nam Y. Huh \/ AP Newsroom)<\/span><\/p>\n<\/div>\n<\/div>\n<p>Farm Action sent Lina Khan a letter on Thursday requesting that the antitrust regulator examine record-high profits at the largest egg company.<\/p>\n<p>Cal-Maine Foods is the largest egg producer, controlling 20% of the egg retail market.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/category\/stocks\" target=\"_blank\" rel=\"noopener\">Quarterly sales at Cal-Maine<\/a> A regulatory filing revealed that gross profits rose more than 600%, and revenues were up 110% compared to the prior quarter.<\/p>\n<p>According to the company, record sales could be attributed to lower egg supply due to avian virus driving up prices.<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2023\/01\/931\/523\/egg-prices.jpg?ve=1&#038;tl=1\" alt=\"Eggs in the dairy aisle\" \/><\/div>\n<div class=\"caption\">\n<p><span>Half-empty shelves of eggs can be seen in a Los Angeles supermarket on January 8, 2023.\u00a0<\/span><span> (I RYU\/VCG via Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.foxbusiness.com\/lifestyle\/egg-prices-rise-64-percent-some-states\" target=\"_blank\" rel=\"noopener\"><strong>EGG PRICES RISE MORE THAN 64% IN SOME STATES<\/strong><\/a><\/p>\n<p>The U.S. Department of Agriculture (USDA), also mentioned a record outbreak of the avian influenza as a reason behind high prices.<\/p>\n<p>Nearly 58,000,000 turkeys and chickens have been produced. <a href=\"https:\/\/www.foxbusiness.com\/category\/fox-news-infectious-disease\" target=\"_blank\" rel=\"noopener\">killed by avian flu<\/a> According to the USDA, the virus spread from 2022 to 2023 mostly in March and April.\u00a0<\/p>\n<p>U.S. egg production in October was about 5% less than last year. Egg inventories in December were down 29% compared with the beginning of the year. This is a significant drop but it may not explain record high prices, according to Basel Musharbash (an attorney with Farm Action).<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2023\/01\/931\/523\/egg-prices-2.jpg?ve=1&#038;tl=1\" alt=\"egg prices\" \/><\/div>\n<div class=\"caption\">\n<p><span>On Jan. 8, 2023, a large number of eggs were stored in a freezer in Los Angeles&#8217; supermarket.<\/span><span> (I RYU\/VCG via Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.foxbusiness.com\/economy\/us-border-authorities-report-increase-egg-smuggling-attempts-poultry-prices-soar-inflation\" target=\"_blank\" rel=\"noopener\"><strong>US BORDER AUTHORITIES REPORT INCREASE IN EGG SMUGGLING\u00a0<\/strong><\/a><\/p>\n<p>&#8220;We want the FTC to dig in and see if consumers are being price gouged,&#8221; Musharbash said.<\/p>\n<table class=\"stock-fundamentals\">\n<thead>\n<tr>\n<th class=\"ticker\">Ticker<\/th>\n<th class=\"security\">Security<\/th>\n<th class=\"last\">Last<\/th>\n<th class=\"change\">Change<\/th>\n<th class=\"percent\">Change %<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td class=\"ticker\"><a href=\"https:\/\/www.foxbusiness.com\/quote?stockTicker=CALM\">CALM<\/a><\/td>\n<td class=\"security\">CAL-MAINE FOODS INC.<\/td>\n<td class=\"last\">54.67<\/td>\n<td class=\"change neg\">-1.05<\/td>\n<td class=\"percent neg\">-1.88%<\/td>\n<\/tr>\n<tr><\/tr>\n<\/tbody>\n<\/table>\n<p>Cal-Maine stated in a statement to Reuters that higher production costs also contribute to higher prices.<\/p>\n<p>American Egg Board, a marketing organization for eggs, stated in a statement that egg price reflect many factors and that wholesale egg prices have begun to fall.<\/p>\n<p><i>FOX Business reached the FTC to provide comment.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lydia Hu, FOX Business correspondent has the latest news on the impact of the Avian Bird Flu on &#8220;America&#8217;s Newsroom&#8221;. Skyrocketing inflation in the U.S. has had a devastating effect on consumers&#8217; wallets. According to the Bureau of Labor Statistics, eggs are the latest worry. Their price rose 138% to $4.25 per dozen in December &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1819808,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[5458,3755,15697,15439,3976,7145,3819,4395,7238],"class_list":["post-1819805","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-bongino","tag-calls","tag-egg","tag-farm","tag-investigation","tag-price","tag-report","tag-surge","tag-u-s"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1819805","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1819805"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1819805\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1819808"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1819805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1819805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1819805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}