June’s Urner Barry Midwest large quote averaged 88.71 cents during June and was the highest June price on record. The previous high June price occurred in 1996 at 82.35 cents. Going back to 1985, the average monthly June price is 69.34 cents, according to the United Egg Producers (UEP).
Urner Barry’s Central Breaking Stock quote averaged 47.57 cents in June, the highest recorded June price since 1996. UEP notes that the June 1 inventory of 279.9 million hens was the lowest recorded June inventory since 2003.
UEP says that two factors are likely responsible for producers reducing flock numbers: the high cost of grain, and a recognition of the historical trend of losing money during the period between Easter and Labor Day. UEP also says that producers may be fearful that anti-cage legislation or intimidation of the marketplace by animal rights activists may not make cages a good long-term investment.
Since the first week of November 2006, shell egg price quotes have not fallen below 80 cents per dozen and have averaged more than $1 per dozen during the period.
