CNBC published this video item, entitled “Who Makes Money From Eggs” – below is their description.
For Cal-Maine Foods, the nation’s largest egg producer, 2022 was a bit of an eggstravaganza. While consumers paid $4.30 on average in December 2022 for a dozen eggs compared to $1.80 in 2021, Cal-Maine Foods reported a nearly 32% increase in revenue in 2022 from 2021. There are 373 million laying hens around the United states as of January 2023, according to the United States Department of Agriculture (USDA). After hens lay eggs at a farm, they get graded by the USDA and put into cartons, sold to retailers, and then purchased by you, the consumer. Cal-Maine Foods, the only public egg producer, holds 16.8% of market share. Like some of the other larger companies, it operates farms, processing plants, hatcheries, feed mills, warehouses, offices, and other properties around the country. Some other egg producers include Rose Acre Farms, Versova Holdings and Hillandale Farms. Eggs are an about $10 billion dollar industry with nearly 13% growth annually in profit from 2017 to 2022, according to IBISWorld. But it’s a volatile one that is sensitive to market changes or environmental factors. It’s also an industry with its fair share of controversy. Watch this video to learn who profits from this $10 billion industry.
Chapters:
0:00 — Introduction
01:31 — The egg industry
03:07 — Cal-Mal Foods
05:00 — Threads
11:22 — Outlook
Produced by: Emily Lorsch
Edited by: Nora Rappaport
Senior Managing Producer: Tala Hadavi
Graphics by: Christina Locopo
Additional Footage: The Humane Society of the U.S.
CNBC YouTube Channel
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