• US stock market daily report (August 07, 2015, Friday)

    According to the U.S. Labor Department, into the end of July, the price index for wholesale eggs surged a record 84.5% in June, following a 56% increase in May.

    The surging price of eggs has made them more expensive on a protein-per-dollar basis than chicken breasts - for the first time ever on record.

    According to the Bureau of Labor Statistics, during the first six months of 2015, into mid-June, the worst U.S. outbreak of the Avian Influenza killed more than 48 million fowl. While consumers were paying an average of $1.96 for a dozen of eggs in May, in June that price surged by 31% to a record $2.57 for a dozen large eggs.

    American Egg Board vice president John Howeth said the egg shortage recovery could take at least one year to happen. United States shell egg production totaled 7.41 billion during June 2015, down 9% from same period in 2014.

    On May 1, 205, table egg flock size was 296 million layers and as of July 1, 2015, the table egg flock dropped to 269 million layers due to the flu outbreaks. Rate of lay per day on June 1, 2015, averaged 77.7 eggs per 100 hens. The five largest egg producing states represent approximately 47% of all U.S. hens. There are approximately 62 egg producing companies with 1 million-plus hens that represents approximately 86% of total production and 17 companies with greater than 5 million hens. There are approximately 181 egg producing companies with flocks of 75,000 hens or more, representing about 99% of all the hens in the USA.

    Restaurants across the USA are being forced to get creative with advertisements, on the heels of record-high egg prices as well as, supply and demand issue.

    Denny's Corporation (DENN - Nasdaq) is pushing burgers instead of omelets, Dunkiní Donuts is advertising smoothies and iced coffees and Panda Express has swapped corn for eggs in its fried rice.

    Concerns are rising that egg prices could rise further into the fall, as Americans start baking for the holiday season.

    Contributed by Millennium Traders
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