For several years amidst and coming out of the pandemic, the price of eggs was way too high. Was it bad enough it warranted sending Trumpty Dumpty back to the White House? Is anything that bad?? I don’t think so, but it was still bad enough that people were smuggling eggs across the border and committing grand theft eggo. While a devastating 2022 bird flu epidemic was a big factor, good ol’ American capitalism kept egg prices unnecessarily high. That’s what the US Justice Department and 17 states accused three major egg producers — Cal-Maine Foods, Versova, and Hickman’s Egg Ranch — of illegally doing between June 2022 and March 2025. The big three went so far as to collude amongst themselves over the bids they’d make to Urner Barry Publications, the industry’s index key that determines prices for grocery stores and restaurants. But no more!! Those 17 states and the federal government have reached a settlement with the egg producers… wherein the companies only have to pay a relative pittance in cash (compared to their profits), with the rest of their penalties to be paid out in, I kid you not, eggs.
“When powerful corporations collude behind the scenes to raise prices, working families suffer the costs,” New York Attorney General Letitia James, who helped lead the investigation, said in a statement. “These egg producers manipulated the market to squeeze even more profit out of consumers and businesses.”
None of the companies admitted wrongdoing under the settlements. But to settle the states’ claims, Cal-Maine, Versova and Hickman’s will collectively be on the hook for $3.3 million and 53 million eggs, James and others said. Those eggs would be donated by the companies and make their ways to food banks and nonprofits. The money will be distributed to the states.
The Justice Department and the states also outlined actions the companies will need to take, including adopting antitrust compliance programs and banning communicating with competitors on pricing and bidding strategies.
…Average U.S. egg prices soared to a record high of about $6.23 per dozen in March 2025, amid a bird flu epidemic that forced farmers to slaughter millions of egg-laying chickens. Egg producers blamed price spike on the outbreak, but critics accused big companies of taking advantage of their market dominance and the government began its investigation.
…Cal-Maine maintained Monday that allegations of price manipulation were “baseless” and that it believes its conduct has been legal. It also noted that while it was part of a cooperative with the other egg producers, it left the group in May 2024.
Still, Cal-Maine CEO Sherman Miller said the company’s settlement agreement “enables us to move forward so we can devote our full attention to what matters most: delivering affordable, high-quality eggs and egg-based prepared foods to consumers nationwide.”
Miller added the period the Justice Department reviewed “was a particularly challenging time” — noting that, beyond avian flu, the COVID-19 pandemic, weather and other market conditions have contributed to temporary supply shocks and high prices in recent years. He said Cal-Maine “took numerous steps to protect and grow its hen flock” in that time.
Versova echoed a similar sentiment, particularly pointing to the toll the bird flu has had on its farmers, who it noted “don’t set the wholesale price of eggs.” Instead, Versova said the price of most of its eggs depends on cost fluctuations of grain used in hen feeds.
Meanwhile, Hickman’s owner Mantiqueira USA, which acquired the egg producer in November, said the “conduct referenced in the complaint predates our acquisition,” noting that it is committed to complying with the law.
Some advocacy groups say the proposed settlements aren’t enough.
“Consumers paid record prices while dominant egg producers reported extraordinary profits, yet the result is another settlement that corporations can treat as the cost of doing business rather than meaningful accountability,” said Angela Huffman, president of Farm Action.
Yeah, another big clue that collusion was going on was that price bids to Urner Barry Publications magically started dropping in March 2025, the same time Cal-Maine, Versova, and Hickman’s were instructed by the Justice Department to preserve documents for an investigation. Nice try, guys. So now they have to shell out $3.3 million along with 53 million eggs, but it’s not an equal split among the three. Cal-Maine is responsible for 30 million eggs and $1.5 million, roughly 0.12295% of their $1.22 billion profit in 2025, give or take a few decimal points. Meanwhile Versova is forking over 20 million eggs and $800,000, leaving Hickman’s at 3.25 million eggs and $1 million. If you know me at all by now, you know that I would have given anything to be a fly on the wall during these negotiations! Which side first suggested partial payment in eggs? Did the state AGs consult with special ovum esquires to arrive at precedent-appropriate settlements? Were harsher penalties stipulated should 10 million eggs turn out to be rotten?? What, these are very important legal questions!
Photos credit: TheNews2/Cover Images, Getty Images
I wonder who gets the eggs? Do they go to the consumer? Does the federal government hand them out to us poors or how that goes?
I read that the eggs are going to food banks and other foods aid programs. But it’s still a slap on the wrist punishment. What else should we expect from this government.