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| Economy |
| 'Greedy' egg baron who jacked up the cost of your breakfast to make billions |
| 2025-03-08 |
| [Daily Mail, where America gets its news] A shocking new report is blaming the nationwide egg crisis not on bird flu, but on 'greedy' companies that upped their prices long before an outbreak. Among them is a single egg producer from Mississippi, which has made billions from egg sales since 2023. According to the new report by Food & Water Watch, the company — Cal-Maine — jacked up its prices even before it was hit by the avian flu outbreak in December 2023. The company sold 7 percent more eggs in its 2022-23 financial year than in 2021-2022. But because it upped prices and pocketed an extra $1 off every dozen sold, its profits jumped sevenfold to $1.2 billion that year, the report says. 'Cal-Maine fleeced $1 billion in additional profits from its customers — mainly retailers, who often pass along price spikes to families,' says the report. 'Cal-Maine's shareholders especially benefited. The company's stock is roughly three times as valuable today as it was at the start of the bird flu outbreak.' Researchers call this 'outrageous at a time when food costs are skyrocketing and more families than ever can't put food on the table.' Related: Egg 03/06/2025 Barnard College bomb threat prompts evacuation as anti-Israel protesters occupy campus building Egg 03/05/2025 USDA To Spend Mucho on Chicken Vaccine Egg 03/05/2025 Horrors! Trump is ordering 30,000 eggs for his Easter egg roll. |
| Posted by:Skidmark |
| #1 Hmmm...They jacked up the prices, but the consumers kept buying them? Somebody tell (the late) Adam Smith. |
| Posted by: Bobby 2025-03-08 12:45 |