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Saturday, June 3, 2023

Massive Hillandale Farms fire could impact soaring egg prices

Egg prices in the United States could be about to rise even higher as a massive fire destroyed a large chicken coop at one of the largest egg-producing farms in the country.

Massive Hillandale Farms fire could impact soaring egg prices

Hillandale Farms in Bozrah, Connecticut lost one of its chicken coops in the fire, and an estimated 100,000 chickens perished in the fire. The cause of the fire remains unknown at this time, but the loss of such an important source of egg production seems likely to affect the already high price of eggs.

Will egg prices rise further?

The price of eggs was already through the roof thanks to the bird flu that affected 57.82 million birds in 2022 and 3.8 million in December alone. Data from the Consumer Price Index released this January by the Bureau of Labor Statistics revealed that the price of a dozen eggs reached $4.25, representing an increase of 18.4% in just one month.

To put that in perspective, the price of a dozen eggs just a year ago was $1.78. That’s a jump of 137.7% in just 12 months.

United Egg Producers (also known as Egg Farmers of America) was hopeful, predicting that the number of bird flu cases would decline in the coming months, with a potential spike in the spring. Prices would likely start to fall as production and supply chain issues ease.

This new devastation at Hillandale Farms could throw another monkey wrench in the works.

Investigation into the cause of the fire continues

Reports say that more than 100 firefighters from various departments battled the blaze for about eight hours.

A statement from the farm’s executive leadership team said: “Our team continues to work closely with local fire departments and state officials to fully investigate the fire that occurred on Saturday, January 28. We can confirm that a chicken coop was lost and no other buildings were compromised. We are deeply grateful that no employees were injured in the fire.”

Restaurants and food manufacturers remain understandably concerned as we wait to see what impact the fire has on egg prices.

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