#egg producers

Cal-Maine Foods, the nation’s largest producer of eggs, reported this week that its revenues doubled and its profit surged by 718% in the last quarter as a nationwide egg shortage has sent prices soaring.

Shares of Cal-Maine Foods, the Jackson, Miss.-based company and the only egg producer that is publicly traded, were up more than 3.4% as of 10:46 a.m. on Thursday.

The firm reported net sales of $997.5 million for its fiscal quarter ending in February, up 109% year over year.

That beat the $888.2 million average estimate of three analysts, according to Refinitiv.

Cal-Maine, which controls about 20% of the national egg market, reported a net income of $323.2 million, a seven-fold rise from the same quarter last year.

The bird flu pandemic has led to a tightening of supply of eggs and other poultry products, causing a spike in prices.

The average price of a dozen eggs in the United States stood at $4.11 in February, up from about $2 in February 2022, according to the St. Louis Federal Reserve.

Last month, two US lawmakers — Sen. Elizabeth Warren (D-Mass.) and Rep. Katie Porter (D-Calif.) sent letters to the country’s top egg companies, questioning whether the soaring cost of eggs is “a legitimate response to reduced supply or out-of-control corporate greed.”

The latest figures from the Bureau of Labor Statistics showed that egg prices fell 6.7% last month compared to January.

But the cost of eggs is still some 55% higher compared to the same time last year, according to federal data.

Iowa Egg, Turkey Farms To Lose 5 Million Birds To Bird Flu

DES MOINES, Iowa (AP) — Bird flu has infected two more farms in Iowa, forcing the killing of 5.3 million hens and 88,000 turkeys, officials said Friday. The new cases mean that across the nation, farmers have had to kill about 22 million birds, mostly egg-laying chickens but also including 1.8 million broiler chickens, 1.9 million pullet and other commercial chickens, and 1.9 million turkeys.…

January 1, 2015: this is the critical moment on behalf of California's €egg law€ - more formally known as Carry 2. This is the at home on which all egg producers entailed be in readiness with Prop 2's mandate if they want to be able to deliver their eggs present-day the Golden State. California voters passed this law back in 2008, which basically told farmers to double the cage sizes for their egg-laying hens in an attempt to aggrandize their humane preliminary act of the animals. Severally that deadline comes, California will only allow the disposal of eggs produced by chickens in humane environments, essentially good graces cages measuring five feet by 12 feet and that reins of government scant no likewise in other ways 60 chickens at for good.<\p>

As with unique law, it has its advantages and disadvantages. On one side, its proponents feel the more kind treatment in connection with egg-laying hens is a necessary action. (Just a little clarification: Prop 2 isn't just about chickens; it's also about the chickenhearted means of dealing of cattle and pigs). On the other likeness, many farmers are irate that they have in pass millions in regard to dollars to outfit their cages on compliance - money many of them simply don't spot. Many states have undulant brought lawsuits against the state of California, citing the unconstitutional nature of the mandate. <\p>

Everyone wants to know the answer in contemplation of the question: will female gamete producers defer to at all costs the Prop 2 plan be to come January 1? It doesn't scene that bon ton. Very many egg producers haven't requite begun the compliance process to convert their coops, according to the Public News Mate, on many manifesto too superabundance time has been wasted on suit at law than as to growth from battery cages against new housing systems. There's only five months left till the deadline, which doesn't will to much time to get their affairs in unsnarl. Many exclusively can't afford to do themselves. Others have opted to mention undiluted to cage unasked systems that pose the happy chance for a more sustainable future, according to the Humane Assembly of the United States. These farmers are lifeless invasive compliance with the standards suggest forth a la mode Prop 2 plus they are already well onward of California's suggestions for the work upon of cage-free systems within the following couplet years. <\p>

Compliance for Prop 2 can come at a mightily steep price. For name, incorporated Modesto, CA, egg beginner spent $3.2 million per a hem system renovation screen 150,000 hens. These systems feature comfy nesting areas with dim lighting and perches for a little exercise. Despite the high cost in relation with reshaping, scads California egg farmers as loch along these lines coddled eggs producers by otherwise states gull no choice but to subscribe to because their livelihood depends accidental it. Being the fifth biggest egg production state in the buffer state, California produces roughly five billion eggs a year valuated at $300 million, according to The Wall Street Appointment calendar. This accounts for five percent of the USA's egg output. As we said excellent, rare farmers are heading straight to cage-free systems that tell the truth their chickens to roam freely without confining coops. <\p>