Cal-Maine Foods' Profits Skyrocket as Egg Prices Surge in Q3 2023
The largest US egg producer, Cal-Maine Foods, reported a more than 700% increase in profits due to a 60% rise in egg prices over the past year. The company's CEO attributed the price increase to a combination of factors, including increased demand and supply chain disruptions caused by the pandemic. Some in the poultry industry are trying to cut costs to offset the high prices.