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        <title><![CDATA[Egg prices crack records thanks to coronavirus panic shopping]]></title>
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        <link>https://usagag.com/2020/04/07/egg-prices-crack-records-thanks-to-coronavirus-panic-shopping/</link>
        <lastBuildDate>Tue, 07 Apr 2020 20:27:45 +0000</lastBuildDate>
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            <media:title type="html">Egg prices crack records thanks to coronavirus panic shopping</media:title>
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        <content:encoded><![CDATA[<p>Egg prices have cracked fresh records as the coronavirus crisis sent shoppers scrambling for yolks.</p><p>The wholesale price for a dozen “Midwest large” eggs tripled over the course of last month to an all-time high of $3.09 on March 27, according to Urner Barry, which tracks daily food prices.</p><p>The spike came as coronavirus panic <strong>pushed shoppers to stock up on staples</strong> like eggs, leading grocery chains such as Wegmans and Texas-based H-E-B to limit how many they can buy.</p><p>“Retailers are increasing the price on the shelf. They’re limiting the number of eggs the consumer can buy in one store visit,” Urner Barry director Brian Moscogiuri told The Post.</p><p>Egg orders have recently come in anywhere from two to six times above normal levels, according to Moscogiuri. Market-research firm Nielsen also reportedly recorded a nearly 48 percent jump in US egg sales in the week ending March 28, compared with the same period last year.</p><p>The US’s sudden hunger for eggs came as producers built up their inventories ahead of Easter, when demand is normally elevated — and that has helped stave off an even deeper shortage, according to Moscogiuri.</p><p>“Had this happened a week from now &#8230; they would have potentially not had that inventory to draw from and maybe had fewer birds to draw from as well,” he said.</p><p>Since March 27, egg prices have come down somewhat — just in time for the traditional Easter egg hunts. A dozen Midwest large eggs — the industry’s price benchmark — were going for $2.59 as of Tuesday, he said.</p><p>That’s still well above where eggs were selling before the crisis. In the first week of January, for example, a dozen Midwest large eggs cost just 79 cents, the Urner Barry data shows.</p><p>The recent price declines is due in part to egg producers finally figuring out how to direct supply intended for now-shuttered restaurants to the retail market, Moscogiuri said.</p><p>“Plus the consumer hoarded eggs over the last three weeks, so you’re thinking that the consumer probably has some more eggs in their refrigerator as well,” Moscogiuri added.</p>]]></content:encoded>
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