Trump's egg price fiction has suddenly become reality | News | wkow.com
By: David Goldman (WKOW)
S E E D E D C O N T E N T
(CNN) — For months, President Donald Trump has falsely claimed that egg prices are tumbling. It wasn't true then, but it's true now.
Egg prices fell 12.7% last month, the biggest monthly decline since 1984, the Bureau of Labor Statistics reported Tuesday. And they could continue to fall this month, too: The USDA reported last week that a dozen large white-shell eggs now cost $3.30 on average, down a whopping 69 cents from a week before.
It's a remarkable reversal after egg prices surged in each of the past five months - and 17 of the past 19 months - because of a deadly avian flu epidemic that necessitated the mass culling of egg-laying hens.
"Maybe the worst of EggGate has passed," Tyler Schipper, associate professor in economics and data analysis at the University of St. Thomas in St. Paul, Minnesota, told CNN.
Nevertheless, egg prices remain significantly higher now than before the latest bird flu outbreak, and they cost 49.3% more last month than they did a year earlier. Eggs are still more expensive than when Trump took office, according to the BLS. Egg prices this past Easter, which typically rise in the run-up to the holiday, were the highest for any Easter on record, the USDA reported.
Well before last month's decline, Trump had been touting falling egg prices as a sign that his administration's plan to lower prices for consumers has been working. In February, the USDA announced an initiative to lower egg prices, including increased biosecurity on egg-laying farms, aid to farmers who have lost flocks and temporary lifting of restrictions on egg imports.
Despite Agriculture Secretary Brooke Rollins' far more conservative estimate that egg prices would normalize in the summer, Trump last month said, "as you know, the cost of eggs has come down like 93, 94% since we took office." Those percentage declines Trump stated are not close to accurate - but we now know that consumer egg prices were, indeed, falling sharply when Trump made those remarks (the Consumer Price Index data wasn't out yet to confirm or deny Trump's claims).
It appears as though Trump may have been talking about wholesale prices, which had been tumbling throughout March before normalizing in recent weeks. Nevertheless, wholesale prices fell by half - not close to the 90%+ figures Trump was citing.
Wholesale prices are the costs distributors pay to farmers or middlemen. Consumer prices are what customers pay at grocery stores. Those costs typically make their way through the supply chain at a slower pace, because grocery stores may decide to keep prices at a certain price, even when wholesale prices change, to try to recoup lost profits from prior weeks, according to Kevin Bergquist, sector manager at Wells Fargo Agri-Food Institute.
The USDA says consumer prices finally fell as demand for eggs decreased and avian flu cases have fallen. Many groceries, including large chains like Costco, had limited customers' purchases because of egg shortages.
So Trump's claim that consumer egg prices are down is finally true - even if the timing of his claim and the wild percentages he threw around were grossly inaccurate.
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Is that egg on your face, or are you happy to see me?
Did you read your article? In multiple places, it details how full of shit Trump was whenever he talked about egg prices.
I look at the results and try not to live in the past.
Can't change what is already done.
If I declare every day that you’re going to die, and you live, I’m wrong until - eventually - you do die, just like we all do. And then I get to say I was right all along. That’s how Trump works. And you’re buying it.
The price of eggs was always going to come down, eventually.
No, I for one KNOW how Trump works. Perhaps a "Trump for Dummies" is needed. Most on the right side of the aisle know what to expect and can almost predict what he is saying/doing and the end result.
Trump is already for dummies, that's the problem. What I want is a President for intelligent Americans, that's what's really needed.
Egg prices fell 12.7% last month, the biggest monthly decline since 1984, the Bureau of Labor Statistics reported Tuesday. And they could continue to fall this month, too: The USDA reported last week that a dozen large white-shell eggs now cost $3.30 on average, down a whopping 69 cents from a week before.
That is called a FACT.
Progressives sure stopped talking about eggs quickly.
Progressives were talking about egg prices? I don’t think so. It’s Trump who has been talking about it. Other than calling out Trump for his bullshit on the topic, progressives haven’t made a big deal out of it. That’s because they understand that a nasty case of bird flu is responsible for the price increases, and that they would eventually go down as cases declined.
Oh bullshit. They took this, as most everything else, to point a finger at Trump. And you just did the same thing. Have you not paid attention? Especially here on this hallowed site?
Because he LLLIIIEEES about it!
He said multiple times that he was going to lower egg prices on Day 1 . Instead, prices continued up after he took office. From your article:
Eventually the price peaked and started to come down, but Trump lies about even this good news. Again, from this very article:
No one was looking to blame Trump for a bird flu that started before he was even in office, nor for the inevitable price increase it caused. If he didn’t blatantly LIE about it, we wouldn’t even be discussing it.
Lol.
The price of eggs varies according to grade. Factory production of prepared foods use lower grade eggs than are typically available to consumers on store shelves because the lower grade eggs are cheaper. Those Little Debbie donuts don't require eggs that look great on the grocer shelf.
So, the overall reduction in the price of eggs needs to account for all grades of eggs. Keep in mind that eggs used for factory production won't be stored nearly as long as are grocer eggs. That means egg prices for grocer eggs will be sticky. Since the high prices naturally lessens demand, that suggests that higher priced eggs will remain in the inventory for a longer period of time. What that means is the overall price of eggs may actually be falling faster than consumers are seeing at the grocer. Since eggs can be stored up to six months, consumers may not see the benefit for a few months.
I bought eggs yesterday and a dozen is still $9.89 so perhaps somewhere some egg prices are starting to fall, but that was expected because the supply issue after the chickens with bird flu were culled took some time before the egg laying population was back up, but Trump didn't do shit to help so I'm not sure why anyone would give him any credit. Perhaps his supporters here should put their effort into stroking Trumps massive flaccid pustule covered ego for negotiating some deal with China, but to get their hands, arms, chest and face covered in gooey Trump ego as they metaphorically run back and forth stroking it because of egg prices dropping a teeny bit due to increased supply is just stupid.