KraneShares Chief Investment Officer Brendan Ahern discussed Chinese stocks, inflation rates, and related topics on “The Claman Countdown.”
According to recent figures from the U.S. Department of Agriculture (USDA), the price of eggs has decreased by over 61% since a peak in March. As of now, a dozen large, white shell eggs costs $2.52 nationally, compared to $6.49 in January, as reported by Trading Economics. In early March, egg prices exceeded $8 per dozen.
The USDA Egg Markets Overview noted a slight improvement in shell egg demand leading into the Memorial Day weekend, though it remains below average, continuing a trend from late winter’s sharp price increases.
In April, a study by Clarify Capital indicated that over 30% of Americans had stopped purchasing eggs due to high costs. Decreased demand and a decline in new bird flu cases have reportedly helped lower prices.
In the same month, Reuters highlighted that the U.S. increased imports of eggs from Turkey, Brazil, and South Korea to boost supply amid a bird flu outbreak. This outbreak has led to the loss of nearly 170 million chickens, turkeys, and other birds since 2022.
Since 2022, bird flu has affected over 166 million birds, including 127 million egg layers. This loss equates to an average annual decline of 42.3 million egg layers, or about 11% of the five-year average layer inventory, according to Bernt Nelson, an economist with the American Farm Bureau Foundation.
The USDA’s Animal and Plant Health Inspection Service confirmed that the effects of the outbreak are ongoing, with 43 outbreaks reported in layer flocks across 10 states.
Daniella Genovese from FOX Business and Reuters contributed to this report.
