US farm group calls for probe of high egg prices - Fox Business
US farm group calls for probe of high egg prices - Fox Business
Jan 22, 202348 secs
The latest concern is eggs, the price of which was up 138% in December from a year prior, to $4.25 a dozen, according to the Bureau of Labor Statistics.Various groups from regulators to farmers and industry officials have often argued in recent years about the power of top agriculture firms to set prices and drive up what consumers pay for groceries.The nation's antitrust regulator should examine record-high profits at the top egg company, said Farm Action on Thursday in a letter to FTC chair Lina Khan.The company pointed to decreased egg supply nationwide due to avian flu driving up prices as a reason for its record sales.The U.S. Department of Agriculture (USDA) also pointed to a record outbreak of avian flu as a reason for the high prices.Nearly 58 million chickens and turkeys have been killed by avian flu or to control the spread of the virus since the beginning of 2022, mostly in March and April, according to the USDA.