BIG by Matt Stoller (npub12vy…wnly) on the egg mess.
TLDR?
Takeaway — the avian flu is not responsible for increased prices.
Once again, the culprit is corporate #monopoly.
The avian flu is just an excuse.
When industry gets monopolized, the monopolizers will seize upon any excuse to jack prices through the roof.
From the article:
** Cal-Maine Foods — the largest egg producer and the only one that publishes its financial data as a publicly traded company — has been making more money than ever. It’s annual gross profits in the past three years have floated between 3 and 6 times what it used to earn before the avian flu epidemic started — breaking $1 billion for the first time in the company’s history. All of this extra profit is coming from higher selling prices, which have been earning Cal-Maine unprecedented 50-170 percent margins over farm production costs per dozen. Taking Cal-Maine as the “bellwether” for the industry’s largest firms — as people in the egg business do — we can be pretty confident that the other large egg producers are also raking in profits off the relatively small dip in egg production.**
Post covid inflation??? Yeah, it’s 99% price gouging.
Leftist Lawyer
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2025-03-10 02:31:37 UTC
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