Are Eggs the New Toilet Paper? Costco Shoppers Face Long Lines and Shortages
Chief Economist Brian Albrecht was quoted in this story in Best Life about rising egg prices amidst a supply shortage. Read full piece here.
Thus, egg prices hit a record average high of $4.95 in mid-February, according to the Associated Press, which points out that egg prices normally spike around Easter.
The Wall Street Journal adds that, per the Labor Department, “Grocers and food distributors are paying about $8 a dozen at wholesale, which makes selling them often a money-loser.”
And despite the Trump administration’s $1 billion five-point plan to fight bird flu and bring egg costs down (which includes importing eggs), industry experts say that relief isn’t on the horizon.
“I don’t think the five-point plan is going to do anything in the next three, four months,” Brian Albrecht, chief economist at the International Center for Law & Economics, told Barron’s. “We’re talking about a year or longer for the breeding cycle.”