From Politico · · 1m 50s
Egg Prices Spike as Collusion Alleged
Egg prices doubled in a year as three major producers allegedly colluded to fix prices.
In brief
Egg prices doubled in a year as three major producers allegedly colluded to fix prices. Three U.S. egg producers coordinated bids to artificially inflate prices by 138% before a settlement. Originally reported by Politico.
Egg prices doubled in 2022
U.S. egg prices rose from $1.93 to $4.82 per dozen in a year.
Economists blamed bird flu for price surge
Most experts attributed the spike to bird flu killing 43 million egg-laying hens.
Law professor suspects collusion
Peter Carstensen said eggs are a classic example where collusion makes sense.
Experts dismissed collusion claims
Mainstream economists called collusion theories 'cranks' looking past simple economics.
Egg producers coordinated bids
Three major producers coordinated bids on an egg price clearinghouse to raise prices.
Price-fixing scheme detected
U.S. Justice Department and 17 state attorneys general found evidence of collusion.
Price spike explained by collusion
Egg prices rose 138% due to collusion rather than bird flu.
Egg producers coordinated bids
Hickman’s Egg Ranch and Cal-Maine coordinated bids to prevent price drops.
Price-fixing scheme intensified
Executives met weekly to bid up prices ahead of Christmas.
Egg prices hit record
Prices reached $4.25 per dozen by December 2022 after collusion.
Egg prices dropped suddenly
Prices fell 50 cents in a week after consumers pulled back.
Egg producers coordinated bids
Executives pushed to 'light up northwest bids' to raise prices nationwide.
Egg prices hit record
Prices reached $6.23 per dozen in March 2025 after Trump administration.
Trump administration investigated
Justice Department launched antitrust probe into egg price-fixing.
Settlement reached
Three companies agreed to $3 million fine and independent monitor for five years.
Egg prices dropped to $2 per dozen
Prices fell to $2 per dozen after settlement as farmers struggled.
What it means
Three U.S. egg producers coordinated bids to artificially inflate prices by 138% before a settlement.
