{"id":1825788,"date":"2023-01-27T08:05:11","date_gmt":"2023-01-27T13:05:11","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1825788"},"modified":"2023-01-27T08:05:37","modified_gmt":"2023-01-27T13:05:37","slug":"the-price-of-eggs-soaring-138-is-no-coincidence","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-price-of-eggs-soaring-138-is-no-coincidence\/","title":{"rendered":"The Price Of Eggs Soaring 138% Is No Coincidence"},"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\">18<\/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%2Fthe-price-of-eggs-soaring-138-is-no-coincidence%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=1825788&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<p>Eggs. Eggs used to be the most affordable source of protein. A couple of large eggs contains 14 grams of protein. This is about the same amount as three ounces hamburger.<\/p>\n<p>But times they are a-changin\u2019. In December, large Grade A eggs cost an average of $4.25 per dozen. That\u2019s a 138% increase from $1.79 a year earlier, according to U.S. Bureau of Labor Statistics data. A dozen eggs would cost $1.33 in August 2020, by the way.<\/p>\n<p>Industry posits that there has been an outbreak of avian flu in the past that has claimed to have killed millions of egg-laying chickens. Maybe. The price of chicken has also gone up. One pound of chicken <a href=\"https:\/\/fred.stlouisfed.org\/series\/APU0000FF1101\">cost<\/a> In March 2020, $2.96 was charged and in March 2019, it was $4.34.<\/p>\n<p>But here\u2019s one weird thing: Have you noticed a scarcity of eggs or chicken at the grocery store? I sure haven\u2019t: My local Wegmans is stacked to the rafters with eggs and chicken. Eggs are pricey \u2014 they top out at $7.78 \u2014 but they\u2019re there.<\/p>\n<p>Maybe there&#8217;s something else going on. Maybe, just maybe, there\u2019s something else responsible for those soaring prices.<\/p>\n<p>That\u2019s what Farm Action, a farmer advocacy group, thinks. According to the group, \u201creal culprit\u201d The secret to sky-high prices lies in a \u201ccollusive scheme\u201d Top U.S. egg producer to fix prices to gouge customers<\/p>\n<p>In a <a href=\"https:\/\/farmaction.us\/2023\/01\/19\/farm-action-calls-for-ftc-to-investigate-record-high-egg-prices\/?utm_source=substack&#038;utm_medium=email\">letter<\/a> Farm Action reported to the Federal Trade Commission that the alleged collusion had helped egg producers. \u201cextract egregious profits reaching as high as 40%.\u201d<\/p>\n<p>The letter also stated that the avian influenza was not to be blamed.<\/p>\n<p>\u201cExamining publicly-available financial data from the egg industry, the letter determines that the supply disruption caused by the avian flu outbreak had an \u2018apparently mild impact on the industry,&#8217;\u201d the group said in a press release.<\/p>\n<p>And the group said egg producers are making money hand over fist.<\/p>\n<p>\u201cFor the 26-week period ending on November 26, 2022, Cal-Maine reported a ten-fold year-over-year increase in gross profits \u2014 from $50.392 million to $535.339 million \u2014 and a five-fold increase in its gross margins,\u201d the letter said.<\/p>\n<p>And the group says \u201cthe real culprit behind this 138 percent hike in the price of a carton of eggs appears to be a collusive scheme among industry leaders to turn inflationary conditions and an avian flu outbreak into an opportunity to extract egregious profits reaching as high as 40 percent.\u201d<\/p>\n<p>\u201cIn the end, what Cal-Maine Foods and the other large egg producers did last year \u2014 and seem to be intent on doing again this year \u2014 is extort billions of dollars from the pockets of ordinary Americans through what amounts to a tax on a staple we all need: eggs,\u201d the letter said. \u201cThey did so without any legitimate business justification. They did so because there is no \u2018reasonable substitute\u2019 for one carton of eggs. They did so because they had power and weren\u2019t afraid to use it.\u201d<\/p>\n<p><em>The views expressed in this piece are the author\u2019s own and do not necessarily represent those of The Daily Wire.<\/em><\/p>\n<p><em>Joseph Curl is a 35-year veteran of politics, having served 12 years as White House correspondent in a national newspaper. For four years, he was the Drudge Report&#8217;s a.m. editor. Send tips to <a href=\"https:\/\/www.dailywire.com\/cdn-cgi\/l\/email-protection\" class=\"__cf_email__\" data-cfemail=\"c9a3a6baacb9a1aabcbba589ada8a0a5b0bea0bbace7aaa6a4\">[email\u00a0protected]<\/a> Follow him @josephcurl on Twitter<\/p>\n<p><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eggs. They used to be one of the cheapest sources of protein out there (a couple of extra large eggs has 14 grams of protein, about the same as three ounces of hamburger). But times they are a-changin\u2019. The average price for large Grade A eggs was $4.25 a dozen in December. That\u2019s a 138% &#8230;<\/p>\n","protected":false},"author":159,"featured_media":1825791,"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":[541],"tags":[16676,14536,14549,7145,8957],"class_list":["post-1825788","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-16676","tag-coincidence","tag-eggs","tag-price","tag-soaring"],"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\/1825788","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\/159"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1825788"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1825788\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1825791"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1825788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1825788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1825788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}