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☆ Turkey prices are down. A deadly bird flu could change that
▼ + stars: | 2023-12-02 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

New York CNN —Egg and turkey prices are down. But a deadly bird flu is still threatening poultry flocks, turkey in particular. Turkey takes a hitThis year, turkey prices were low ahead of Thanksgiving — partially because turkey farmers expected an outbreak in the spring that didn’t really happen, boosting turkey supplies, explained Matt Busardo, poultry market reporter at Urner Barry. But the uptick of bird flu cases has hit turkey farms hard, and threatens to tighten supply in groceries this spring. In part that’s because unlike eggs, turkey isn’t a kitchen staple — meaning that higher prices could just lead people to skip that turkey sandwich after all.

Persons: ” Dennis Summers, Summers, We’re, ” Summers, Emily Metz, “ We’ve, Ryan Hojnowski, Urner Barry, skyrocket, ”, Hojnowski, it’s, Matt Busardo, Barry, “, there’s, ” Busardo, —, Kasinger, Ohio’s Summers, Christine McCracken Organizations: New, New York CNN, CNN, American Egg Board, Bureau of Labor Statistics, Bloomberg, Getty, Rabobank, “ Locations: New York, United States, Iowa, Ohio, Turkey, Minnesota

☆ Pork belly prices are up 100% this year — your breakfast bacon is about to get pricier
▼ + stars: | 2023-08-23 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

Wholesale pork belly prices are currently trading at 270.89 cents per pound. And consumers are about to see even higher prices of bacon, which is primarily cut from pork bellies. Analysts who spoke to CNBC attributed the surge in pork prices partly to a recently imposed animal welfare regulation in California, which came into effect July 1. Proposition 12 played a "major role" in the surge in prices, said Urner Barry pork market analyst, Ryan Hojnowski. Consequently, sellers of bacon will want to keep their profit margins up — thus, the spike in pork belly wholesale prices is going to translate to higher retail and food services prices, he said.

Persons: Bacon, Zachary Zirlin, —, That's, Brian Earnest, Cobank's Earnest, Earnest, Barry, Ryan Hojnowski, Hojnowski, Urner Barry, Glenn Asakawa Organizations: Eyeem, Getty, CNBC, National Pork Producers Council, Medianews, Denver Locations: California, FactSet, Colorado

☆ Egg prices are crashing. Here’s why
▼ + stars: | 2023-05-15 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

One reason: Shoppers responded to high egg prices by buying less. When prices were shooting up, “everybody and their brother had a story about what egg prices were doing,” said Amy Smith, vice president at Advanced Economic Solutions, a consulting firm. Retail egg prices have been declining at a more moderate clip. (On an annual basis, prices are still high: In the year through April, egg prices were 21.4% higher.) That’s because supermarkets and grocery stores set retail egg prices, and they don’t want customers to be scared away by wild swings.

☆ Outlook for credit access hits record low while inflation expectations jump, NY Fed survey shows
▼ + stars: | 2023-04-10 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Wholesale egg prices have begun declining more than 50% since December record highs according to Urner Barry data. Consumers are getting more pessimistic about inflation and their access to credit, according to a survey the New York Federal Reserve released Monday. That's the first time the near-term outlook increased since October and runs counter to the narrative from Fed officials that they expect inflation to subside as a series of interest rate increases take hold. In their most recent economic projections, policymakers said they anticipate inflation including food and energy prices to decline to 2.5% in 2024. The current one-year outlook is down from 6.6% from the same time in 2022, but is running well ahead of the Fed's 2% inflation goal.

Egg prices rose 60% in 2022: Consumers paid $4.30 on average in December for a dozen eggs compared to $1.80 a year earlier. "Everyone tries to make money, but ... it's a very low-margin industry," said Angel Rubio, senior analyst at Urner Barry, a market research firm that specializes in the wholesale food industry. But the egg industry is volatile, too, sensitive to market changes and environmental factors. Much of the price increase of eggs over 2022 stemmed from the deadliest outbreak of bird flu in U.S. history, which killed millions of egg-laying hens. The egg industry also has its fair share of controversy.

☆ The hidden price of eggs: How high costs may trickle into other foods
▼ + stars: | 2023-02-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

The average price for all types of eggs ballooned 60% in 2022, according to the consumer price index. Higher egg prices are largely the result of a deadly outbreak of bird flu in the U.S., economists said. Since February 2022, bird flu killed more than 44 million hens in commercial table-egg-laying flocks, according to the U.S. Department of Agriculture. But there isn't a one-to-one relationship between higher egg prices — whether shelled or in another form — and the cost of other foods. In short: Eggs are one of many factors in inflated consumer food prices.

☆ Eggs are crazy expensive. Plant-based alternatives think you should check them out
▼ + stars: | 2023-02-09 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

New York CNN —Egg prices are still high at the grocery store — so plant-based egg alternatives are using this moment to make their case. Brands like Just Egg and Zero Egg, which make egg alternatives, say they’ve seen momentum in January. For them, turmoil in the traditional egg market is the perfect opportunity to try to reach potential new customers and highlight the advantages of plant-based eggs. But they’re not interested in plant-based eggs — the texture and flavor is just not there for their needs, Tim Lu said. In the grocery store, egg prices remain elevated, Rispoli noted: “Grocers are not yet passing along those savings.”

☆ Egg Prices Drop for Retailers, But Shoppers Yet to See Relief
▼ + stars: | 2023-02-08 | by ( Jaewon Kang | Patrick Thomas | ) www.wsj.com time to read: 1 min

The prices of eggs rose more than any other grocery item last year, driven by avian influenza and higher feed costs. Eggs are getting cheaper for retailers. For consumers, they are still expensive. Wholesale prices of Midwest large eggs have declined to $2.81 a dozen, according to research firm Urner Barry , down nearly 50% from a record high of more than $5 a dozen in December, but higher than $1.30 a dozen in January 2022.

☆ Wholesale egg prices have ‘collapsed.’ Why consumers may soon see relief
▼ + stars: | 2023-02-07 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Fatih Aktas/Anadolu Agency via Getty ImagesWholesale egg prices have cratered in recent weeks from record highs, meaning consumers may soon see relief at the grocery store. Its Midwest Large White Egg price benchmark is a widely cited barometer in the egg industry. On average, it takes about four weeks for retail prices to reflect wholesale price trends, Rubio said. Retail prices tend to be less volatile than those at the wholesale level. For every 10% decrease or increase in wholesale egg price, consumers can expect retail prices to shift about 2%, on average, Rubio said.

☆ Egg prices rose 60% in 2022. One farm group claims it's a 'collusive scheme' by suppliers
▼ + stars: | 2023-01-23 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

These industry figures don't seem to square with a two- or three-digit percentage spike in egg prices last year, Farm Action claims. Bird flu's significant impact on hen supply has been the most notable driver, while egg demand has remained strong, Bowman said in a written statement. In this case, that means there's generally not a 1:1 relationship between egg or hen supply and egg prices. Amy Smith vice president at Advanced Economic SolutionsThe dynamic is largely due to a "compounding effect" of demand, Rubio said. Once a farm suffers a flu outbreak, it likely won't produce eggs again for at least six months, Rubio said.

☆ Why egg prices are still going up
▼ + stars: | 2022-12-27 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

But nothing comes close to the rise in egg prices. In the year through November, not adjusted for seasonal swings, egg prices jumped 49%, according to data from the Bureau of Labor Statistics. Wholesale prices hit a recordAvian flu has been a problem in the US for several months now, but in recent weeks wholesale prices have been hitting records. The supply squeeze isn’t the only thing contributing to higher egg prices, said Metz. Friday’s wholesale prices were the same as Thursday’s, the first time pricing held steady since October, she said.

☆ Egg Prices Surge to Records as Bird Flu Hits Poultry Flocks
▼ + stars: | 2022-12-23 | by ( Jaewon Kang | Patrick Thomas | ) www.wsj.com time to read: 1 min

Retail egg prices have climbed more than any other supermarket item this year. Egg prices are hitting records, driven by an avian-influenza outbreak that has killed tens of millions of chickens and turkeys this year across nearly all 50 states. Wholesale prices of Midwest large eggs hit a record $5.36 a dozen in December, according to the research firm Urner Barry. Retail egg prices have increased more than any other supermarket item so far this year, climbing more than 30% from January to early December compared with the same period a year earlier, and outpacing overall food and beverage prices, according to the data firm Information Resources Inc.

☆ Egg Prices Surge to Records as Bird Flu Decimates Poultry Flocks
▼ + stars: | 2022-12-22 | by ( Jaewon Kang | Patrick Thomas | ) www.wsj.com time to read: 1 min

☆ Popeyes, Wingstop, Others Step Up Chicken Offerings as Poultry Prices Drop
▼ + stars: | 2022-11-28 | by ( Heather Haddon | Patrick Thomas | ) www.wsj.com time to read: 1 min

Restaurants that have struggled for months with escalating costs are getting a break from chicken. Prices for chicken breasts in the U.S. have plunged about 70% since the first week of June, according to market-research firm Urner Barry. Wings and tenders have gotten cheaper, too, as poultry companies have increased production while demand from restaurants and supermarkets has remained flat, said chicken industry analysts and executives.

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