Why is the egg price forecast revised upward?

Both 2022 and 2023 average wholesale egg price (New York, Grade A, large) forecasts are revised upward due to higher-than-expected strength in fall prices. The fourth-quarter total egg export forecast is increased, while the import forecast is decreased due to recent trade data and the overall HPAI impact on global supply.

What is price prediction?

In price prediction, price is the independent variable. And it’s affected by several dependent variables. Suppose we were trying to price a pizza: the answer would depend on the size of the pizza and the cost of its ingredients. Beyond regression, price prediction uses descriptive and predictive analytics.

What happened to egg prices in November?

On grocery store shelves, consumers watched egg costs climb 49.1% in November over the previous year, according to the Bureau of Labor Statistics' Consumer Price Index. Prices often spike around Thanksgiving and Christmas but, even as holiday demand declines, egg prices remain stubbornly high.

How much have eggs risen in 2022?

In a report from the U.S. Department of Agriculture that tracks food price outlook, eggs have risen up to 59% in December 2022, the highest year over year rise in prices among food items.