I think a lot of these consumer product companies are taking advantage of consumers' attitudes about prices and inflation to accomplish 2 goals:
1. Rack up a bunch of profits in preparation for a recession in the second half of the year.
2. Perhaps more importantly, stake out new price positions in the minds of short-memoried consumers. For example, once people are used to $4 eggs and $5 12packs of soda, reductions to $3 and $4 will seem like great bargains even though they are substantial increases from a few years ago.

ronnie_suburban wrote:

Cathy2 wrote:Ok, 65% over what? A dollar? A penny? That makes a big difference.

HonestMan wrote:Robert Reich @ @RBReich Egg prices are up 60%. That's absurd. People are paying up upwards of $6 and $7 for a dozen eggs. Why? Corporate greed. Cal-Maine, the largest egg producer in the US, is raking record profits - $198 million in its latest quarter. That's a 65% increase from a year ago.

By my calculation that's 65% increase from $120MM.

=R=

Here is an excerpt from the earnings report directly from the company:

"Net sales in the second quarter of fiscal 2023 were $801.7 million, compared with $381.7 million in the second quarter of fiscal 2022. The Company reported net income of $198.6 million, or $4.08 per basic and $4.07 per diluted common share, compared with a net income of $1.2 million, or $0.02 per basic and diluted common share, in the prior-year period."

It is true that sales doubled and the net income was $198.6 million. BUT the prior year net income was incorrect as Reich posted. The company essentially had NO net income ($1.2 million) in the prior year on sales of $381.7 million.

I suspect what happened is that price increases caused by demand outstripped increased costs so they made money...this time.

https://www.businesswire.com/news/home/ ... 8005357/en

https://www.vice.com/en/article/qjkydd/ ... group-says

"Avian flu outbreaks were discovered in February 2022 in Delaware and spread to 10 states. The worst impacts of the avian flu were over by that spring, but prices kept increasing. According to Farm Action, “No hen losses were reported after the beginning of June except due to sporadic outbreaks in September, October, and November.” The result was that the average flock size for egg-laying hens in any month in 2022 was “never more than 7-8 percent lower than it was a year prior—and in all but two months was never more than 6 percent lower.”

I’ve been making my own mayo last few weeks in my Cuisinart. One pint batches, using veg oils from Costco. Not sure of the numbers yet, but freshly made is much tastier. The egg might be my most expensive ingredient.

HonestMan wrote:...and in all but two months was never more than 6 percent lower.”

Scary, because that suggests production (and consumption, unless a lot went into frozen or dried eggs) didn't go down much at dramatically higher retail prices. That suggests a very steep demand curve, and that producers and retailers now know that they can keep prices very high without risking reduced sales volume.

Of course, this is oversimplified because a large portion of production might be sold at fixed contract prices to big users like fast fooders and manufacturers, leaving consumers to take a disproportionate hit. Still, it doesn't seem good...

LTH,
Yesterday at Butera in Paletine:

Whole bone in double (thawed) turkey breast 2.49#.
Chicken feet $3.49#

“ If you aren’t tasting, you aren’t cooking.”

I was sat Jewel today, and I noticed that eggs were on sale for $3.99, and they are regularly priced at $4.49. They were $4.99 a few weeks ago. 18 eggs are $5.49, and 30 eggs are $9.

I'm not disputing what seems to me the likely possibility of some profit-taking going on (although in fairness, that profit-taking may be a hedge against losses, as avian flu seems increasingly to be becoming endemic in the US, Canada, Europe, and elsewhere), but the CDC reported the following in early November 2022:

"As bird flu outbreaks in wild birds and poultry continue across the U.S., the country approaches a record number of birds affected compared to previous bird flu outbreaks. Since early 2022, more than 49 million birds in 46 states have either died as a result of bird flu virus infection or have been culled (killed) due to exposure to infected birds. ... To date, bird flu viruses have been found in U.S. commercial and backyard poultry in 44 states and in wild birds in 46 states since early 2022."

As of yesterday, the numbers were up to 58.1 million birds, 47 states with avian flu outbreaks in commercial and backyard poultry, and avian flu detected in wild birds (5,956 total) in all 50 states.

Eggs $3.33 a dozen today at Aldi

$6 for 18 eggs at Fresh Farms/Wheeling today.

=R=

JoelF wrote:Rather than make a bunch of new topics, I'll make one of Ronnie's favorite things(TM), the catch-all thread.

The price of lump crabmeat has gone through the roof! Costco has a 1lb can (refrigerated) for $39.99. Claw is a little cheaper, but not worth the downgrade in quality. I
had a recipe that was going to use crabmeat, guess I'm going to shift to something else.

And that’s for lousy “”Chicken of the Sea” Pasteurized Swimming crab from SE Asia.
(Sorry, I lived on the Chesapeake Bay for 30 years.)
Wild caught Maryland jumbo lump
Maryland crab cakes
1st course of Carolina she crab soup



Priority shipping from DC was more expensive than the crab!

Well, adding to the issue of egg prices, a massive Connecticut egg farm was burned to the ground this weekend, killing 100,000 chickens.
https://www.usnews.com/news/best-states ... t-egg-farm

Cynthia wrote:Well, adding to the issue of egg prices, a massive Connecticut egg farm was burned to the ground this weekend, killing 100,000 chickens.
https://www.usnews.com/news/best-states ... t-egg-farm

Yet, still another fire at a food production facility.

I just heard that chicken wings and avocados are cheaper than they were a year ago. Groceries in general are 11% more expensive though compared to last year.

I'm actually going to score some wings today at 1.49 / lb at my lil fruit mkt down the street before the weekly sale ends. They also have b/s thighs for 1.69/lb. I've been getting the regular sized (not small) avocados for 69c each for the past month it seems. Not sure why chicken parts are cheaper, but eggs are up. I'm scared to look for an answer. Totally unrelated, I'm sure, but I haven't seen a pigeon or seagull in months.

seebee wrote:I'm actually going to score some wings today at 1.49 / lb at my lil fruit mkt down the street before the weekly sale ends. They also have b/s thighs for 1.69/lb. I've been getting the regular sized (not small) avocados for 69c each for the past month it seems. Not sure why chicken parts are cheaper, but eggs are up. I'm scared to look for an answer. Totally unrelated, I'm sure, but I haven't seen a pigeon or seagull in months.

There's apparently a lower-cost source somewhere in the city: https://www.nbcchicago.com/news/local/suburban-school-cafeteria-worker-stole-11k-cases-of-chicken-wings-in-1-5m-embezzlement-scheme-prosecutors/3058487/

A week ago, Lewis Fresh in Waukegan had small wings for 99 cents per pound. Something larger was around $1.39 per pound.

Last day today at Park Packing: medium wings are 89 cents per pound.

Regards,
CAthy2

seebee wrote:...Not sure why chicken parts are cheaper, but eggs are up. I'm scared to look for an answer. Totally unrelated, I'm sure, but I haven't seen a pigeon or seagull in months.

Two factors:
1) Price gouging by egg conglomerates (who own most of the brands you see including packaging for the house brands)
2) Chickens raised for meat are generally smaller producers and more distributed -- individual ranches may not have been affected by bird flu.
3) Not counting this one, I might be wrong, but broiler/fryer-sized chickens may be younger than egg layers, so there's still a delay in production.

I just saw that about the woman stealing the chicken wings. She had worked at the school cafeteria in Harvey for ten years.

I am surprised how many people I still see buying eggs. If maybe sales went down, then prices would go down too. I was at Sams Club, and I saw somebody purchase three dozen eggs, for I think over $12. They were $3.99 a dozen at Food4Less.

NFriday wrote:I am surprised how many people I still see buying eggs. If maybe sales went down, then prices would go down too. I was at Sams Club, and I saw somebody purchase three dozen eggs, for I think over $12. They were $3.99 a dozen at Food4Less.

I don't understand your sentiment. If I purchase a dozen at $6.00 and then have 4 eggs for the 2 of us at breakfast, I have spent the horrible sum of $2.00 for 2 of us at breakfast. Sure I would like to spend less. No, I am not going to forego.

Eggs are amazing at any price. Sure, I'd love to spend less, but eggs are essential to our family's diet (all the more so because my wife stopped eating meat and relies on eggs for added protein).

Somehow, I’ve lost my taste for eggs.
????
(Not kidding I’ve always loved them.)

JoelF wrote:Not counting this one, I might be wrong, but broiler/fryer-sized chickens may be younger than egg layers, so there's still a delay in production.

You're not wrong.

I am sorry if I offended people who love eggs and will pay the going rate for them. I don't love eggs. The last time I bought eggs was when they were on sale for $1.99 a dozen at Jewel, and I just used up my last two eggs a few days ago. The ones I get at the farmer's market on rare occasion for $6-$7 a dozen, I like those better. When I do buy those I fix a broccoli potato frittata. I like it because all of the other stuff kind of covers up the taste of the eggs.

spinynorman99 wrote:

seebee wrote:I'm actually going to score some wings today at 1.49 / lb at my lil fruit mkt down the street before the weekly sale ends. They also have b/s thighs for 1.69/lb. I've been getting the regular sized (not small) avocados for 69c each for the past month it seems. Not sure why chicken parts are cheaper, but eggs are up. I'm scared to look for an answer. Totally unrelated, I'm sure, but I haven't seen a pigeon or seagull in months.

There's apparently a lower-cost source somewhere in the city: https://www.nbcchicago.com/news/local/suburban-school-cafeteria-worker-stole-11k-cases-of-chicken-wings-in-1-5m-embezzlement-scheme-prosecutors/3058487/

Definition of a human pile of hot garbage. She has no place.

Cheers

lougord99 wrote:

NFriday wrote:I am surprised how many people I still see buying eggs. If maybe sales went down, then prices would go down too. I was at Sams Club, and I saw somebody purchase three dozen eggs, for I think over $12. They were $3.99 a dozen at Food4Less.

I don't understand your sentiment. If I purchase a dozen at $6.00 and then have 4 eggs for the 2 of us at breakfast, I have spent the horrible sum of $2.00 for 2 of us at breakfast. Sure I would like to spend less. No, I am not going to forego.

Yes, thank you! Loosen the purse straps a little & skip the “healthy” frozen ready made dinners.

RockyDennis wrote:

spinynorman99 wrote:

seebee wrote:I'm actually going to score some wings today at 1.49 / lb at my lil fruit mkt down the street before the weekly sale ends. They also have b/s thighs for 1.69/lb. I've been getting the regular sized (not small) avocados for 69c each for the past month it seems. Not sure why chicken parts are cheaper, but eggs are up. I'm scared to look for an answer. Totally unrelated, I'm sure, but I haven't seen a pigeon or seagull in months.

There's apparently a lower-cost source somewhere in the city: https://www.nbcchicago.com/news/local/suburban-school-cafeteria-worker-stole-11k-cases-of-chicken-wings-in-1-5m-embezzlement-scheme-prosecutors/3058487/

Definition of a human pile of hot garbage. She has no place.

Cheers

Not only should the woman be seriously punished for the embezzlement but the district's financial people should be seriously reprimanded for not catching this sooner. Are they doing any kind of budget review to see if expenses are out of line? Someone is definitely asleep at the wheel? Also, how can they be THAT FAR over budget whe the number of meals served is so far below teh norm?

Also, what controls do they have over vendors?

My ONE AND ONLY experience working at a state hospital was that as a food service manager, I was NOT permitted to order ANYTHING from vendors. I would place my orders with a state purchasing official who would order the food from state vendors who were selected by the purchasing team. The system had its own share of issues but things were properly controlled.

NFriday wrote:I am sorry if I offended people who love eggs and will pay the going rate for them. I don't love eggs.

I'm in no way offended, I just really appreciate eggs.

Bride just picked up 18-eggs for $6. .33c per egg. That's a buck for a nice filling omelette, .33c for a jammy egg dropped in soup or fried on the side of rice. Good deal far as the home cook in me is concerned.

On the other hand, as a chef running a restaurant kitchen rapid price increases are problematic. If you are running through hundreds of eggs per week cost doubling pokes a few pinholes in your percentages.

Frankly, aside from conversation starter, I find it hard to get worked up over the price of eggs. Brisket or gas, don't get me started.