Cal-Maine Foods Says Egg Demand Strong Despite Price Surge — Commodity Comment

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Al Barbarino

U.S. egg producer and distributor Carmain Foods Inc. said Wednesday that demand for eggs was strong over the Thanksgiving holiday despite prices soaring to all-time highs.

According to price and demand:

“Current market environment [is] It is characterized by record average selling prices for conventional eggs due to reduced supply, largely related to the outbreak of highly pathogenic avian flu in the United States, and high customer demand. “

“Consumer demand for shell eggs remained strong. [our fiscal second quarter]saw record quarterly sales of specialty eggs, especially heading into the Thanksgiving holiday.

“Egg prices, combined with the impact of further declines in supply related to the impact of the HPAI outbreak, coupled with favorable customer demand supported by seasonal consumer demand typical of the second quarter of fiscal year 2023, are likely to remain below 2023 levels. Year after year it continues to rise.”

About conventional eggs and special eggs:

“[An] Increased demand for specialty eggs was positively impacted by higher prices for conventional eggs compared to the same period last year.

“Net average selling price per dozen of conventional eggs increased to $2.883 per dozen from $1.151 a year ago, and revenue for both conventional and specialty eggs hit a record second quarter in fiscal 2023. reached the standard.

“The net average selling price of specialty eggs increased 24.9% to $2.370 per dozen, compared to $1.898 per dozen in Q2 2022,” said Cal-Maine. .

“Specialty egg quarterly sales were a record $227.8 million, or 29.4% of total shell egg sales.

“Conventional egg sales volume decreased by 2.2% compared to Q2 2022, while specialty egg sales volume increased by 24.1%.”

Write to Al Barbarino at [email protected].

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