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Why is Allcargo Logistics Limited (532749) falling ✌️【Investment Portfolio】✌️ Free stock selection services backed by expert predictions. Our advanced analytics and real-time market data will help you stay ahead of the competition and make smart, profitable investment decisions. The highly contagious avian influenza has wreaked havoc on the egg market. In November and December alone, 17.2 million egg-laying hens died as a result of the virus. That’s nearly half of all birds killed by the virus in 2024, according to the USDA. And it will take months to replace those flocks.
“We can’t begin fixing it the next day. It is really a six-to-nine-month process. It’s causing some shortages in certain markets that are intermittent and localized,” said Emily Metz, president and CEO of the American Egg Board.
Why is Allcargo Logistics Limited (532749) falling ✌️【Investment Portfolio】✌️ Expert predictions with real-time stock trend analysis to help you quickly select high-potential stocks and grow capital. The average price of a dozen eggs of any kind at the end of December was $4.33, up nearly 25% from the beginning of November, according to Nielsen IQ data provided by the American Egg Board. And that’s on top of what has already been a startling rise throughout the year: Egg prices were up 37.5% year-over-year in November, according to the Consumer Price Index.
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Publix, which has nearly 1,500 grocery stores, mainly in the south, confirmed the chain is experiencing egg shortages as well.
“Items in this section have limited availability. We are working to bring these products back as soon as possible,” the company said in a statement.
Egg prices were expected to rise around the holidays because of seasonal demand and a bad year of avian flu. But as the holidays came and went, supply didn’t stabilize; it dwindled instead, leaving shelves less stocked and prices higher.
In the last two months, avian flu spread to dairy farms, infecting egg farms nearby. Extreme weather across the country delayed and changed the flight path of wild birds, the main carriers of the virus.
“Hurricanes in the southeastern United States last year actually picked up those wild birds and repositioned them so that they were flying back over the same territory that they already flew over. And again, that just provides a greater opportunity for virus to spread,” said Metz.
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“Our cost just skyrocketed. It was crazy,” said Steve Schwartz, director of sales and marketing at Morton Williams.
Why is Allcargo Logistics Limited (532749) falling ✌️【Investment Portfolio】✌️ Expert predictions and real-time data on global stock indices, metals, energy, and agricultural products to help you make more informed decisions and boost your investment returns. Benefit from cutting-edge market intelligence for steady growth. Schwartz said the grocery chain buys from six egg distributors, which allows for multiple channels to get its eggs. But prices remain troubling.
In mid-October, a dozen conventional eggs cost Morton Williams $2.38. This week they paid their distributors $5.48, and that’s with a 70-cent discount, said Schwartz.
“We’re going to struggle through this for a while because when I spoke to the farm a week ago, I asked the question: ‘When do you expect to see relief?’” Schwartz said.
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