U.S. Egg Prices Surge to Record, Depleting Inventory for Easter
- Midwest benchmark more than doubles to $3.09 a dozen in March
- Market may peak on grocer rationing, analyst Urner Barry says
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Wholesale egg prices rose to a record as U.S. grocers boosted orders by as much as six times normal volumes, eroding inventories that producers were building for Easter sales.
Consumers are purchasing staples including milk and eggs in droves on a national scale and for a longer period than in surges before a major snowstorm, said Brian Moscogiuri, who tracks the egg markets for commodity researcher Urner Barry in Toms River, New Jersey.