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There's a monopoly on US eggs, and like seemingly every industry right now, they're blaming externalities to cover the fact that price increases are mostly goin
by jkestner 4y ago
There's a monopoly on US eggs, and like seemingly every industry right now, they're blaming externalities to cover the fact that price increases are mostly going to shareholders. https://pluralistic.net/2023/01/23/cant-make-an-omelet/#keep-calm-and-crack-on https://pluralistic.net/2023/01/23/cant-make-an-omelet/#keep...
- dangwhy 4y ago> price increases are mostly going to shareholders. I am confused. how are they going to shareholders, unless shareholders are actually selling the stock? how exactly are price increases coming to me as a shareholder.
- doodlesdev 4y agoDividends?
- dangwhy 4y agoArticle just says 50% increase in stock value. Doesn't mention dividends or stock buybacks.
- danuker 4y agoProfit can stay as cash, pay down debt, get reinvested by upping costs, or get paid out as dividends to the owners. Either way, the cash flow statement needs to reflect it, the book value of the company should reflect it, and the market value might reflect it.
- seizethecheese 4y agoI really was hoping this was going to be a chart of egg sales by supplier, not a political screed.
- busterarm 4y agoWe're almost at 60 Million dead poultry in the US from H5N1 since Jan '22. Even before that during covid, there were super long periods of unprofitability for raising turkey to the point that you couldn't even buy whole turkeys in most of the southeastern US for over 10 months. Monopolies are a problem but certainly not the cause of this one.
- ProbablyRyaan 4y ago> We're almost at 60 Million dead poultry in the US from H5N1 since Jan '22. Wouldn't we see an increase (equal or more) in chicken meat prices as well? If the info is correct... 2020-2023 chicken meat is ~22% higher: https://www.in2013dollars.com/Chicken/price-inflation/2020-to-2023?amount=1.85 https://www.in2013dollars.com/Chicken/price-inflation/2020-t... 2020-2023 eggs are ~91% higher: https://www.in2013dollars.com/Eggs/price-inflation/2020-to-2023?amount=4.82 https://www.in2013dollars.com/Eggs/price-inflation/2020-to-2...
- HDThoreaun 4y agoMeat chickens and egg chickens are not the same. Egg chickens take longer to reach productive age, so the market finds it harder to react to supply shocks.
- jkestner 4y agoAt best, layers take 10 more weeks to produce. The egg price spiked almost a year ago. Focusing on meat vs egg chickens is beside the point. Cal-Maine’s profit has skyrocketed, even as prices on other things have come back down, so clearly they’re not merely passing their expenses on to the consumer. Read the link at top.
- busterarm 4y agoCory Doctorow is no expert on the US egg/chicken industry. He's writing political opinion pieces here. Occasionally he writes science fiction. He also has big problems with hyperbole in his work. The egg price spiked almost a year ago because we've been dealing with H5N1 since over a year ago and it has only gotten worse since.
- p0pcult 4y agoYou're just wrong. https://www.agriculture.com/news/business/record-breaking-egg-profits-prompt-accusation-of-price-gouging https://www.agriculture.com/news/business/record-breaking-eg...
- dokem 4y agoSo there wasn't a monopoly 3 years ago?