Key Takeaways
- Egg prices fell about 1.6% from March to the first two weeks of April, marking the first decline in nearly a year, according to Earnest Analytics, a data analysis firm.
- Prices remain high by historic standards, with avian flu killing millions of egg-laying hens and restricting supply.
- Consumers have cut back on eggs, restaurants have imposed surcharges and some supermarkets have limited how many cartons each person can buy.
Consumers are getting a reprieve from soaring egg prices this Easter, according to new data.
Egg prices ticked down for the first time in nearly a year during the first two weeks of April, the data analytics firm Earnest Analytics said Monday. Across 15 brands, a dozen eggs cost an average of $7.30 from April 1 to 13th, down 1.6% from a record $7.50 in March, Earnest said.
More relief may be on the way, with wholesale prices falling more than 20% from February to March, according to the US Bureau of Labor Statistics.
Consumers have lately cut back on egg purchases amid soaring prices, according to Earnest, which estimates sales in March fell more than 11% year-over-year. Federal authorities have also been monitoring egg prices, with the Department of Justice Department launching an investigation into alleged price gouging and requesting information from Cal-Main Foods (CALM). Cal-Maine, the largest US egg supplier, said earlier this month that it’s cooperating with the probe.
Prices climbed as avian flu killed millions of hens over the past year, restraining supply. Some grocers capped how many eggs customers could buy. Sprouts Farmer’s Market (SFM) didn’t ration purchases or raise prices, and the supermarkets’ customers noticed, CEO Jack Sinclair said last month.
“I think every customer in the United States must have 1,000 eggs in their fridge because they get sold really quickly at the moment,” Sinclair said, according to a transcript from AlphaSense.
Double-digit prices per dozen have been common in recent weeks. Restaurants like Waffle House imposed surcharges for dishes that contain eggs. Some bodegas began using egg substitutes in New York City’s signature bacon-egg-and-cheese sandwich—and selling individual “loosie” eggs to those on a budget, news outlets reported.
The shortage hasn’t spared large restaurant chains with years-long egg contacts, executives said. Some suppliers imposed surcharges; others couldn’t get as many eggs as anticipated, forcing kitchens to spend more on eggs. The latter is likely to cost Cracker Barrel (CBRL) $4 million over the full fiscal year, CFO Craig Pommells said last month.
“Although our egg prices are fully contracted for the remainder of fiscal 2025, one of our vendors has lost some capacity due to the avian influenza outbreak, and as a result, we’ve had to purchase some eggs on the open market,” Pommells said.
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