CALM - A Dozen Eggs Meant You Were 'Rich' This Year: Now Prices Are In Free Fall | Benzinga
The prices of many food items have soared over the past several years, making it more costly for consumers to make their grocery trips as they deal with the impact of higher inflation.
Among the items that saw a sharp rise in price were eggs, which also became the subject of memes and calls for people to invest in eggs.
Fast forward to now and the price of eggs are hitting yearly lows.
What Happened: The largest egg producer in the U.S. recently reported quarterly financial results that showed egg prices continuing to fall, a sharp contrast realized by consumers over the past year.
Cal-Maine Foods Inc (NASDAQ: CALM) reported first-quarter earnings per share and revenue of $459.34 million, both numbers fell shy of analysts’ estimates according to data from Benzinga Pro.
"After reaching record high levels in fiscal 2023, average selling prices for shell eggs have since returned to more normalized levels as the overall egg supply recovers from the most recently highly pathogenic ...