Egg Prices, Chicken Shortand Cryptocurrency are this week’s topics on Building Fortunes Radio.
Jean Luc and Peter Mingils host a Radio show on Friday’s. Jean Luc is a French born and now California resident with a cool French accent. He is sailboat owner and captain and 2020 heart transplant survivor. Peter Mingils started working with Jean Luc almost a decade ago when he was a customer of PM Marketing Networkleads and this is their 422nd radio show on Building Fortunes Radio.
https://networkleads.com is the website where Jean Luc got started. This was ordered in 1998 and is still working today.
This Friday, Jean Luc and Peter Mingils talk eggs. The recent surge in egg prices and the accompanying shortages have created significant challenges for consumers and businesses alike. This situation is primarily attributed to the devastating impact of the highly pathogenic avian influenza (HPAI), commonly known as bird flu.
Here’s a breakdown of the key factors:
Avian Influenza Outbreak:
The HPAI outbreak has led to the culling of millions of egg-laying hens across the United States. This drastic reduction in the poultry population has directly resulted in a significant decrease in egg supply.
The highly contagious nature of the virus makes it difficult to contain, leading to ongoing disruptions in egg production.
Supply and Demand Imbalance:
The reduced supply of eggs, coupled with consistent consumer demand, has created a classic scenario of supply and demand imbalance. This imbalance has driven egg prices to record highs.
The effects of this imbalance are felt strongly by low income households, that spend a larger portion of their income on food.
Economic Impacts:
The rising cost of eggs has placed a financial strain on households, particularly those with limited budgets.
Small businesses, such as bakeries and restaurants, that rely heavily on eggs as an ingredient, are also facing significant challenges. Many of these businesses are forced to either absorb the increased costs or pass them on to consumers.
Restaurants like waffle house are adding surcharges to egg containing meals.
Regional Differences:
The impact of egg shortages and price increases varies across different regions of the United States. Factors such as local demand, transportation costs, and retail operating expenses contribute to these regional differences.
Areas with lower median incomes are being hit the hardest.
The situation remains fluid, and the duration of the egg shortages and price increases is uncertain. Experts are closely monitoring the HPAI outbreak and its impact on the poultry industry.
