An egg market analyst says the global outbreaks of avian influenza could give US egg producers a much needed price boost.
Brian Moscogiuri with Urner Barry says when the US lost 11 percent of its egg production other countries stepped in to fill that market opportunity. “We actually saw the European market benefit with prices of their egg products advancing about 30 percent just one the need that hey were filling here in the US,” he says. “And in the countries that the US would normally fill with products. So they were taking advantage of the international conditions.”
The recent outbreak of avian influenza in South Korea has cost that country nearly 25 percent of its production.
Analysts predict the egg shortage in South Korea to last at least a year – but could take longer depending on how long it takes to rebuild flocks.