Remember back in March when a dozen eggs could run you upwards of $2? You won’t have to “shell” out the big bucks for eggs…at least for now…and possibly for a while to come!
Why Egg Prices Were So High
The wholesale cost of eggs (that’s how much your grocery store pays) was at a near all-time high throughout February and March of this year. Just in time for Easter brunch, right? The last time eggs cost more than $2 a dozen was in August 2015, because of a bird flu outbreak. But when prices were high in March, it was because demand was way up.
It’s no surprise that people buy more eggs before Easter as they prep for Easter egg hunts and delicious Easter breakfasts. But Easter was on the calendar much earlier than usual—while winter weather persisted in some parts of the country. Seeing snow in the forecast on TV may have prompted shoppers to stock up on grocery store items like eggs!
But Now Egg Prices Have Dropped
Just as high demand drove egg prices up, low demand coupled with greater supply will drive egg prices down. The grocery stores have more bargaining power when the egg producers have more inventory to sell, and what they save usually gets passed down to shoppers. That’s precisely what’s happening now!
The chick hatch rate went up around 10% this year, which means more chickens are laying eggs than ever before. Supply is expected to remain high, and will drive prices down even further.