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Prices for eggs and turkey meat are rising as an outbreak of bird flu in the Midwest claims an increasing number of chickens and turkeys. Market experts say grocery stores and wholesalers are trying to stock up on eggs, but there's no need to worry about having enough turkeys for Thanksgiving.
The cost of a carton of large eggs in the Midwest has jumped nearly 17 percent to $1.39 a dozen from $1.19 since mid-April when the virus began appearing in Iowa's chicken flocks and farmers culled their flocks to contain any spread. Neighboring Nebraska reported its first case of bird flu Tuesday, affecting 1.7 million chickens at an egg farm in Dixon County.
A much bigger increase has emerged in the eggs used as ingredients in processed products such as cake mix and mayonnaise, which account for the majority of what Iowa produces. Those eggs have jumped 63 percent to $1.03 a dozen from 63 cents in the last three weeks, said Rick Brown, senior vice president of Urner Barry, a commodity market analysis firm.
Turkey prices, which had been expected to fall this year, are up slightly as the bird flu claimed about 5.6 million turkeys nationwide so far. About 238 million turkeys were raised in the U.S. last year.
The price of fresh boneless and skinless tom breast meat primarily used for deli meat has risen 10 percent since mid-April to $3.37 a pound, a USDA report said Friday. Frozen hens in the 8- to 16-pound range, those often used for home roasting, were up about 3 percent to $1.06 a pound.
Egg supplies are falling short of demand, the U.S. Department of Agriculture has indicated, and Brown said egg buyers such as grocery stores and wholesalers are trying to stock up for fear that another large farm with millions of chickens will be stricken — causing prices to spike higher.
-- The Associated Press