Largest US Egg Producer Cal-Maine Under DOJ Price Investigation
Thursday, Apr 10, 2025 - 04:30 AM
Authored by Wesley Brown via The Epoch Times (emphasis ours),
Cal-Maine Foods Inc., the nation’s largest egg producer, on Tuesday acknowledged that it is being investigated by the Department of Justice’s Antitrust Division over the national increase in egg prices.
“In March 2025, the Company received a civil investigative demand in connection with a widely publicized investigation by the Antitrust Division of the Department of Justice into the causes behind nationwide increases in egg prices,” Cal-Maine said in its financial report for its third quarter on Tuesday. “The Company is cooperating with the investigation.”
Egg prices have hit record highs in recent months, largely due to a bird flu epidemic that has forced farmers to slaughter more than 166 million birds, mostly egg-laying chickens.
One dozen Grade A eggs cost an average of $5.90 in U.S. cities in February, up 10.4 percent from a year ago. That eclipsed January’s record-high price of $4.95.
The Ridgeland, Mississippi-based Cal-Maine accounts for roughly 20 percent of the nation’s egg supply.
New Earnings Report
Cal-Maine released its financial result for its third quarter, which ended March 1, on Tuesday showing it hatched robust earnings: $508 million, or $10.38 per share, a 245 percent jump from earnings of $146.4 million, or $3.01 per share, a year ago. It reported sales of $1.4 billion in the quarter, up 99 percent from $703.1 million year over year.
more:
https://www.zerohedge.com/commodities/largest-us-egg-producer-cal-maine-under-doj-price-investigation