Egg prices continue to rise
Egg prices continue to rise, much due to the avian strains of bird flu and other disease that has caused culls of millions of egg-laying chickens and birds. Anthony Esposito of Island Capital Investments discusses.
Trader Joe’s and other retailers are putting a cap on how many eggs shoppers can purchase amid outbreaks of highly pathogenic avian influenza (HPAI), known as bird flu.
Trader Joe’s limits purchases on fresh eggs
Trader Joe’s told FOX Business on Monday that it is “currently limiting egg purchases to one dozen per customer, per day.”
According to the company, the cap applies to eggs at every Trader Joe’s grocery store in the U.S. The retailer operates hundreds of stores nationwide.
Cartons of eggs are seen for sale in a Kroger grocery store on August 15, 2022 in Houston, Texas. (Credit: Brandon Bell/Getty Images)
Trader Joe’s cited “ongoing issues with the supply of eggs” as the reason for the daily limit.
Egg availability limited at many grocery stores
What we know:
Photos of in-store notices about eggs purchase limits at retailers nationwide have swirled around online in recent weeks. In addition to Trader Joe’s, consumers and several local media outlets have also reported varying limits seen at stores like Costco, Whole Foods, Kroger and Aldi locations.
When each limit went into effect is unclear, however. And not all are being implemented nationally. A spokesperson for Kroger, for example, confirmed that the supermarket giant doesn’t currently have “enterprise-wide limits” in place — but said some of regional divisions and store banners are asking customers to cap egg purchases to two dozen per trip.
Walmart says it also hasn’t imposed national limits — expect for bulkier purchases of 60-count cartons, which have been capped to two per purchase, the Bentonville, Arkansas-based retail giant confirmed Tuesday.
“Although supply is very tight, we’re working with suppliers to try and help meet customer demand, while striving to keep prices as low as possible,” Walmart said in an emailed statement.
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Costco, Whole Foods and Aldi did not immediately respond to requests for comment on Tuesday. But Costco confirmed to CNN that the chain was limiting its customers to three packages of eggs, which are typically sold in two-dozen or four-dozen cartons. Meanwhile, notices previously seen in some Target locations have warned about supplier shortages, but don’t indicate specific purchase limits. The AP reached out to the retailer for further information.
A report published by the Agriculture Department late last week said shell egg availability “remains limited and inconsistent in many retail markets with many affected grocers employing steps to limit consumer purchasing to stretch their existing supplies.” Actions grocers have been taking include curbing promotional activities on eggs, implementing caps on the number of eggs consumers can buy at a time, and “holding prices at record or near-record highs to dampen demand,” according to the report.
Egg prices soar amid bird flu
What we know:
Bird flu is forcing farmers to slaughter millions of chickens a month, pushing U.S. egg prices to more than double their cost in the summer of 2023. And it appears there may be no relief in sight with Easter approaching.
By the numbers:
The average price per dozen eggs nationwide hit $4.15 in December. That is not quite as high as the $4.82 record set two years ago, but the Agriculture Department predicts egg prices are going to soar another 20% this year.
A Numerator survey released in late January found 71% of U.S. egg shoppers thought eggs were “somewhat or very” pricey. More than half have recently experienced their grocery stores having a shortage of eggs or being completely out of stock, it showed.
Bird flu latest
The backstory:
A version of the H5N1 bird flu virus known as B3.13 was confirmed in March after being introduced to cattle in late 2023, scientists said. It has infected more than 950 herds in 16 states. A new version, known as D1.1, was confirmed in Nevada cattle last week, according to USDA. It was detected in milk collected as part of a surveillance program launched in December.
What they’re saying:
“Now we know why it’s really important to test and continue testing,” said Angela Rasmussen, a virus expert at the University of Saskatchewan in Canada, who helped identify the first spillover.
