Cal-Maine Foods, the largest U.S. egg producer, is under investigation by the Department of Justice for price hikes during egg shortages linked to the bird flu, reports Mark Huffman of Consumer Affairs. Huffman writes:
Cal-Maine Foods, the nation’s largest egg producer, has disclosed that it is the subject of a U.S. Department of Justice investigation into egg prices, which have surged during shortages caused by the latest bird flu outbreak. The company said it is cooperating with the probe.
The company attracted the attention of the U.S. government as its sales rose while the effects of bird flu dramatically reduced the number of eggs on store shelves. Data collected by IndexBox show the average cost of a dozen eggs at the retail level hit $5.90 in February, a 10% year-over-year increase. […]
Cal-Maine recently reported quarterly sales of $1.42 billion, nearly double the sales from a year ago.
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