The price of a dozen eggs fell by more than 50% from the 10-year high price seen in February to late March, as the United States imports hundreds of millions of eggs from South Korea and Turkey.
“The supply situation at grocery outlets has greatly improved in recent weeks and consumers are once again seeing fully stocked shelves and enjoying a range of choices without purchase restrictions,” the USDA report read.
The USDA said lower demand for eggs has allowed producers to “build supplies on the spot market, enough to increase production levels to a 3-month high.”
While prices continue to drop, the USDA said it could take up to three weeks for wholesale price changes to be reflected in the retail market.
“There is a general sense that current price levels, though still relatively high compared to past Easters, offer enough of an attractive contrast to consumers from where prices stood just a few weeks ago to encourage holiday demand,” the report said.
Prior to the decline in egg prices that began the last week of February, desperate citizens attempted to smuggle eggs across the border. Interceptions are up 36% in the U.S. compared to last year, according to Customs and Border Protection, with a 54% increase along the Texas border.
EGG PRICES PLUNGE NEARLY $2, NOW LOWER THAN WHEN TRUMP TOOK OFFICE
An avian flu outbreak is reportedly the driving force behind the spike in egg prices. The USDA called for chickens to be culled in an effort to curb the spread of the flu. As of February, over 148 million birds have been euthanized.
Avian flu cases are on the decline. There were only 2.1 million cases in March, compared to 12.64 million in February and 23.19 million in January.
