Even a 1-2% change in consumer buying habits can greatly impact the price of a commodity. Much like the loss of 1-2% of production, changes in demand due to price, promotion, or other demand trends can change the landscape of the market. Even with production down more than 15%, high egg prices have slowed retail volumes and have allowed inventories to rebound.
Wholesale markets have plummeted more than 50% in the last 3-4 weeks. Retail prices should continue to pull back as we head into a better demand period ahead of Easter and Passover.
Have egg prices impacted your buying patterns or those of others you know? I personally have been buying eggs in bulk, which has lowered the frequency of needing to buy eggs. Typically, we purchase the cheapest egg in the store. We have had all types of eggs in our refrigerator over the last few months, from cage-free to browns and branded eggs. We haven't eaten fewer eggs, but the market has certainly changed what and how we buy them.
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