5 companies conspired to drive up egg prices, Justice Dept. says

A newly announced proposed settlement aims to deter companies from manipulating the prices of eggs and prevent Americans from having to pay inflated prices for one of the most important staples in many kitchens.

What they're saying:

"No product more quintessentially represents affordability than the price Americans pay for eggs," Associate Attorney General Stanley Woodward said. "These actions prove this Department’s continued commitment to protecting competition and providing real relief for everyday Americans’ pocketbooks."

Big picture view:

A lawsuit filed by the U.S. Department of Justice and 17 state attorneys general accuses five companies of working together to drive up the daily price quotes of Urner Barry Publications, a market reporting company that prosecutors note affects prices that grocery stores, restaurants, and others have to pay for eggs across the country. 

By the numbers:

Twice in recent years the price of eggs spiked sharply. In January 2022, egg prices started a sharp, year-long upward climb, going from less than two dollars per dozen in U.S. cities to $4.82 per dozen by the following January, according to numbers provided by the U.S. Bureau of Labor Statistics. 

That climb was nothing compared to two years later. From that then-record January 2023 high, egg prices plunged throughout the year, bottoming out at $2.04 per dozen by August. That was when they started spiking again. By March 2025, urban Americans were shelling out $6.22 per dozen.

Why you should care:

In its statement about the lawsuit, the Justice Department did not directly tie those peaks to the alleged manipulation by the five companies accused in its lawsuit. The agency did note that the record high in March of last year was the same month that the companies learned about the investigation. Several weeks later, prices were down more than a dollar per dozen, the BLS reported. As of last month, they were $2.19 per dozen, less than a third of last year’s record high.

The backstory:

The Justice Department’s civil lawsuit against the five companies – Cal-Maine Foods Inc. (Cal-Maine); Hickman’s Egg Ranch Inc. (Hickman’s); and Centrum Valley Holdings LLC, Versova Holdings LLC, and Versova Management Cooperative (Versova) – lists five ways they allegedly tipped the scales in their favor. 

"Food affordability is a top priority of the Antitrust Division," said former Acting Assistant Attorney General Omeed A. Assefi of the Justice Department’s Antitrust Division. "These settlements resolve years of conduct that dragged on Americans’ finances and their everyday lives. I thank and recognize the dedicated work of the Division’s talented staff and state partners."

The statement went on to detail the remedies sought by its proposed settlement with the companies, which involves sharing a host of information with their competitors, and still needs court approval. They will also have to undergo antitrust compliance programs. 

Cal-Maine, Versova, and Hickman's will also pay $3.3 million and donate 53 million eggs.

 

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