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The price of eggs in America cannot be explained by inflation alone

economist.com

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Re: The price of eggs in America cannot be explained by inflation alone

#31

Post by canucker2016 »

poulsbohemian wrote: post #11
ed25519FUUU wrote: post #6

We keep a small flock of backyard hens. Our feed prices went up by about 50%, but that was negligible for us given the retail price of eggs and how little commercial feed we buy. I think many homes would benefit from even a few birds, which can be fed almost exclusively from table scraps. It’s a win/win. Chickens compost for you and keep the food from going in a landfill, and you get eggs.

While it may be anecdotal, what you are sharing is really compelling, as feed in my (rural) area hasn't noticeably increased. This is the gist of what I see in a lot of sectors - there's price seeking happening. I'm finding going to the local restaurant supply store, prices are still what I would expect for the things I buy. Those same items are 3x at the national brand grocery stores. That tells me it's not about su…

People have noticed the disconnect between restaurant prices and grocery store prices. I have no idea who is increasing prices more than their suppliers have increased prices.

for Canada, from https://ottawa.citynews.ca/national-business/canadians-makin...:

"Grocery prices grew by 11.4 per cent year-over-year in January ... according to the latest data released by Statistics Canada."

"The latest inflation data indicated food purchased from restaurants rose 8.2 per cent in January compared with the same month last year — up half a percentage point from December."

for USA, from https://www.cbsnews.com/news/thanksgiving-restaurant-inflati...:

"Restaurant prices are also elevated, but they have risen at a slower pace. The cost of food at restaurants and other vendors is up 5.8%, compared to food from grocery stores or supermarkets, which shot up nearly 10% from November 2021 to August 2022, Wells Fargo analysts noted in a report."

Re: The price of eggs in America cannot be explained by inflation alone

#32

Post by bluefirebrand »

twawaaay wrote: post #17

Lots of companies playing on two fronts to maximise their earnings. On one side they try to excuse not giving raises, laying of employees. On the other side they use it to increase their prices. This would be fine if not for the fact they usually actually increase, not decrease their margins. General public is inept financially and does not understand we are being lied to. Even assuming there exists an economic downt…

The general public is financially literate enough to realize they are being screwed, even if they aren't exactly sure of how.

But past that, the only reason that this behaviour is getting a pass is because people are being very passive in fighting it.

That will only last so long.

Re: The price of eggs in America cannot be explained by inflation alone

#33

Post by ed25519FUUU »

salad-tycoon wrote: post #25
StrictDabbler wrote: post #16

Earlier quoted context omitted.

I would be interested in a breakdown of your savings vs. your expenses and labor time on chicken raising. I just ran a very generous estimate and I would shocked if your savings at peak egg price are more than $4 per labor hour. To get to that number I assumed $5 per dozen at the grocery store, five chickens at your house, an enormous production and consumption of eggs, very cheap overhead, and only thirty minutes a…

I only have 7 chickens and 3 ducks. I open the coop in the morning, takes 1-2 minutes. I collect eggs in the evening and close up coop, takes 2-3 minutes. Maybe add another 5 minutes for changing water or throwing some hay in coop. That’s a typical day, in the winter in the Midwest. Easier in summer and spring. Space wise, really don’t need much at all. A small backyard can support them easily. Also, great sense of s…

Invest in an automatic coop door! They work great. Cuts down on the daily chore.

Re: The price of eggs in America cannot be explained by inflation alone

#34

Post by msrenee »

nobodyandproud wrote: post #18
msrenee wrote: post #10

Earlier quoted context omitted.

Is it? The only source they cite for the claim of price-gouging is a group that's against large scale animal production and GMOs. They've got their own reasons to make the accusation. Honestly, it's probably true, but then they discuss meat production where there are definitely some illegal trust activities going on and say that that group has not seen the same increase in prices. Do we not remember the last time avi…

The article also mentions: - Inflation, which can’t explain the price rise; as beef and chicken (meat) did not increase at the same rate. - Excess profits earned compared to earlier quarters; also difficult to explain if the company in question faced a massive loss. How is this not relevant?

Where in the article does it mention chicken meat? I see pork, beef, and prepared foods.

Excess profits can be caused by any number of things. If the price of the eggs increased exactly enough to match inflation and loss from avian influenza, but there was also increased efficiency from new processing techniques and equipment, that's profit. If they managed to pay their workers even less than they pay in a normal year by citing increased company costs, then they pocket that too. Again, you'd need to see actual numbers and not casual conjecture to make any real calls as to what's happening in this situation.

Re: The price of eggs in America cannot be explained by inflation alone

#35

Post by brianjking »

It's explained mostly by the lack of competition in grocery stores. Not to mention that Albertsons & Kroger are trying to merge. If this is the case there will be essentially 2 grocery stores owning almost every other grocery store in the country.

Welcome to hell.

Re: The price of eggs in America cannot be explained by inflation alone

#37

Post by ThrowawayTestr »

throwaway8582 wrote: post #36
ThrowawayTestr wrote: post #21

Explained by greed pretty easily.

Why weren't eggs ever expensive before the last couple years? Did corporations just suddenly become greedy around that time?

Now they can blame the pandemic and inflation.

Re: The price of eggs in America cannot be explained by inflation alone

#39

Post by m463 »

randdusing wrote: post #24
ed25519FUUU wrote: post #6

We keep a small flock of backyard hens. Our feed prices went up by about 50%, but that was negligible for us given the retail price of eggs and how little commercial feed we buy. I think many homes would benefit from even a few birds, which can be fed almost exclusively from table scraps. It’s a win/win. Chickens compost for you and keep the food from going in a landfill, and you get eggs.

I raise a small flock as well. I always joke that my eggs cost about $100/dozen. With the number of raccoons, foxes and hawks roaming near my property, I've had to invest a couple thousand of dollars in electric fencing, hawk netting and coop materials like hardware cloth or my chickens would quickly disappear.

Same problem growing garden vegetables. The garden probably won't be safe until it looks hardened like an inner-city liquor store.
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