US egg prices increase to record high, dashing hopes of cheap eggs by Easter

Egg prices around the country

U.S. egg prices did began falling in mid-March, according to Datasembly, a market research company that tracks prices at thousands of stores. Datasembly said eggs averaged $5.98 per dozen the week beginning March 16 and dropped to $5.51 the week beginning March 30.

But prices vary widely around the country, depending on the location of recent bird flu outbreaks and some state laws requiring eggs to be cage-free. At a Walmart in Richmond, California, a dozen eggs were $6.34 on Thursday. In Omaha, Nebraska, Walmart was selling eggs for $4.97 per dozen. California requires eggs sold to be cage-free; Nebraska doesn’t.

The latest numbers could increase scrutiny of Cal-Maine Foods, which provides 20% of the nation’s eggs, and other large egg producers.

Earlier this week, Cal-Maine acknowledged it is being investigated by the antitrust division of the U.S. Department of Justice, which is looking into egg price increases. Cal-Maine said it is cooperating with the investigation.

In its most recent quarter, which ended March 1, Cal-Maine said its net income more than tripled to $508.5 million compared to the same period a year ago.

Faking it

The price of real eggs has some consumers turning to fake ones for Easter crafts this year.

Craft retailer Michaels said sales of its plastic egg craft kits — which were listed for $2.49 on the company’s website Thursday — are up 20% over last year. Michaels said sales usually peak closer to Easter, but it started seeing a noticeable uptick in early March this year.

“With a little over a week still to go until Easter, our craft egg kits are nearly sold out,” the company said.