Wholesale %Egg prices in the U.S. have declined to $3.45 U.S. per dozen, their lowest level in five months, according to the U.S. Department of Agriculture (USDA).
Egg prices across America had spiked to record highs over the last year due to supply chain constraints caused by a massive outbreak of bird flu that has killed egg laying chickens.
On March 3 of this year, wholesale egg prices hit an all-time high of $8.17 U.S. per dozen, according to the USDA.
However, the wholesale price has now come down nearly 60% to $3.45 U.S. per dozen, the lowest level since October of last year.
A recent USDA egg marketing report found that egg inventories across America have increased, contributing to the recent drop in wholesale prices.
The report also found that demand has eased slightly following the year-end holidays, reducing upward pressure on costs, and that there have been no significant outbreaks of bird flu in March of this year.
The USDA data only covers wholesale egg prices.
Retail prices, which consumers pay at the grocery store, remain elevated, with a dozen eggs selling for more than $5 U.S. at many stores, according to the U.S. Bureau of Labor Statistics.
Retail egg prices have more than doubled in the past year.
