Eggs

Egg prices have been a continuous national headline following limited supplies, rising prices and costs, and recent policy changes. According to the USDA, wholesale egg prices in the major Midwest production region have dropped to $5.06 from $8.04 seen at this point last month, marking a record high. The recent downward price adjustments have allowed consumers to see increasing availability as demand is expected to improve in the coming months following somewhat of a confidence boost in the market.

The demand for eggs is very inelastic, indicating that even as prices rise consumers don’t necessarily stop purchasing them as there are limited substitutes for eggs. Just a slight decline in the supply of eggs can cause the price to rise significantly. Along with their inelasticity, eggs have a short shelf life making...