Panic buying and hoarding supplies is pushing wholesale egg prices in the Midwest to their all-time high. The Des Moines Register says prices for other staples like milk, beef, and even ice cream have gone higher as well.
Joe Kerns is president of an agricultural consulting company in Ames, Iowa, who says the Midwest isn’t short on supplies, it’s abnormally-high demand that’s causing the price jump. Because of the uncertainty surrounding the coronavirus outbreak, consumers in Iowa and across the U.S. are piling way more than the usual amount of groceries in their shopping carts.
That unusually-high demand level is driving prices higher. Kerns says it’s not a surprise because as restaurant dining rooms are closed, more people are cooking in their homes. Some grocers are seeing as much as six times the normal demand for eggs, which is temporarily clearing out shelves.
Processor are struggling to fill orders that are coming in at a rapid pace. Stores in Iowa and across the country say they’re seeing increased prices from their suppliers as they keep working to make sure their shelves stay filled with staple products.
