This update of U.S egg-production statistics, costs and prices is sponsored by Big Dutchman USA for the information of producers and stakeholders

JANUARY HIGHLIGHTS

• January 2025 USDA ex-farm blended USDA nest-run, benchmark price for conventional eggs from caged hens was 582 cents per dozen, up 158 cents per dozen or 37.2 percent from the December 2024 value of 424 cents per dozen. The corresponding December 2023 and 2024 values were respectively $3.23 and $1.72 cents per dozen. For annual comparison, average monthly USDA benchmark price over 2023 was 146.0 cents per dozen compared to 247 cents per dozen for 2024. Stock levels and prices prior to the onset of flock depletions due to HPAI indicated a relative seasonal balance between supply and demand. Future nest-run and wholesale prices will be largely dependent on consumer demand for shell eggs and products and the rate of replacement of pullets and hens depleted due to HPAI. Other considerations include diversion to shell sales from the egg-breaking sector in an interconnected industry.
• Fluctuation in wholesale price is attributed in part to the amplification of upward and downward swings associated with the commercial benchmark price-discovery system in use. An additional factor influencing pricing is the proportion of shell eggs supplied under cost-plus contracts that accentuates the upward and downward price trajectory of uncommitted eggs. Highly pathogenic avian influenza is currently the major driver of price with a high incidence rate. Approximately 40 million hens and at least 2.0 million pullets were depleted in 2024 with close to 15 million in 23 complexes year to date.
• January 2025 USDA average nest-run production cost for conventional eggs from caged flocks over four regions (excluding SW and West), applying updated inputs was up 2.3 percent from December 2024 to 76.1 cents per dozen. The January average nest run production cost for other than caged hens was estimated by the EIC to be up 2.0 percent to  95.3 cents per dozen. Approximately 60 cents per dozen should be added to the USDA benchmark nest-run costs to cover processing, packing material and transport to establish a realistic cost value as delivered to warehouses.
• January 2025 USDA benchmark nest-run margin for conventional eggs attained a positive value of 505.9 cents per dozen compared to a positive margin of 349.6 cents per dozen in December 2024. Average nest-run monthly margin for 2024 was 170.8 cents per dozen compared to 64.2 cents per dozen over 2023 and 155 cents in 2022.
• January 2025 USDA benchmark nest-run margin for cage-free eggs attained a positive value of 713.7 cents per dozen compared to a positive margin of 672.6 cents per dozen in December 2024. Average nest-run monthly margin over 2024 was 440 cents per dozen compared with 100 cents per dozen in 2023, relatively unaffected by HPAI compared to the preceding and following years.
• The December 2024 national flock (over 30,000 hens per farm) was stated by the USDA to be down 3.7 million hens (rounded and a probable over-count) to 307.6 million compared to the revised November 2024 value of 311.3 million and 326 million before the advent of HPAI in 2022. Approximately 3.5 million hens returned to production from molt in December together with projected maturation of 26 million pullets, with this number offset by depletion of an unknown number of spent hens.
• December 2024 pullet chick hatch of 24.2 million was down 0.2 million chicks from November 2024.
• December 2024 exports of shell eggs and products combined were up 35.1 percent from November to 439,000 case equivalents representing the theoretical production of 5.8 million hens. Canada and the Caribbean nations represented 97 percent of shell egg exports of 278,000 dozen. Japan, Canada and Mexico collectively represented 71 percent of exports of egg products amounting to 161,000 case equivalents. Volumes shipped are based on the needs of importers, competition, availability in the U.S. and FOB prices offered.

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TABLES SHOWING KEY PARAMETERS FOR JANUARY 2025.

Summary tables for the latest USDA January 2025 flock statistics, costs and unit prices made available by the EIC on February 10^th 2025 are arranged, summarized, tabulated and compared with values from the previous January 2025 release reflecting December 2024 costs and production data as applicable. Monthly comparisons of production data and costs are based on revised USDA values.

VOLUMES OF PRODUCTION REFLECTING THE ENTIRE INDUSTRY

*USDA Revised

• Revised USDA/EIC Note 1. Texas excluded to maintain confidentiality  

PROPORTION OF U.S. TOTAL HENS BY STATE, 2024                                                                   

Based on a nominal denominator of 290 million hens in flocks over 30,000 covering 95 percent of the U.S complement.

USDA has amended inclusion of specific states in regions and eliminated Texas data to protect confidentiality of Company flock

Sizes

1. Values rounded to 0.1% 

Rate of Lay, weighted hen-week (USDA)   81.8% January 2025.    82.2% December 2024

*Revised USDA

*Revised, using data from USDA Livestock, Dairy and Poultry Outlook January 16^th 2025 taking into account demand from the food service sector and presumably including the effect of HPAI depopulation.

EGG INVENTORIES AT BEGINNING OF January 2025:

EGGS BROKEN UNDER FSIS INSPECTION (MILLION CASES)                                                                                   December  2024, 6.34     November  2024,  6.60*               

EXPORTS DECEMBER 2024: (Expressed as shell-equivalent cases of 360 eggs).

*Representing 2.0 percent of National production in December 2024 (1.3% shell, 0.7% products).                    

COSTS AND UNIT REVENUE VALUES¹ FOR CONVENTIONAL EGGS FROM CAGED HENS

Notes:   1. Excludes SW and West 

Components of Production cost per dozen:-

Ex Farm Margin (rounded to nearest cent) according to USDA values reflecting JANUARY 2025:-

                                                         582.0 cents per dozen¹- 76.1 cents per dozen = 505.9 cents per dozen         (December 2024 comparison:   424.0 cents per dozen – 74.4 cents per dozen  = 349.6 cents per dozen.

Note 1:  USDA Blended nest-run egg price

1. Unrealistic USDA prices based on promotional prices with few participating stores non-representative of shelf prices!

COSTS AND UNIT REVENUE FOR EGGS FROM CAGE-FREE HENS

* USDA Revised

Components of Production cost for cage-free eggs, per dozen:-

Ex Farm Margin (rounded to nearest cent) according to USDA values reflecting negotiated price for JANUARY 2025:-

Cage-Free brown     809.0 cents per dozen¹- 95.3 cents per dozen =  713.7 cents per dozen

December  2024      766.0 cents per dozen -  93.4 cents per dozen =  672.6 cents per dozen  

1. Contract price, nest-run loose. Range 135 to 235 c/doz. unchanged since July and totally unrealistic.

1. Negotiated price, loose. Range $6.00 to $8.98 per dozen
2. Unrealistic USDA prices based on promotional prices with few participating stores non-representative of shelf prices!

* Conventional (non-organic) feed

Feed prices used are the average national and regional values for caged flocks. Excludes Organic feeds with prices substantially higher than conventional.