Egg company sees 718% profit surge as prices soar

[corbe]

Egg company sees 718% profit surge as prices soar

by Samuel Schaffer, Associate News Editor |
March 29, 2023 09:20 PM

The largest egg producer in the United States, Cal-Maine Foods, reported more than doubled revenue and a 718% surge in profits last quarter as egg prices soar.

Reuters reported that the company controls 20% of the U.S. egg market, according to CNN. Cal-Maine’s average price for a dozen eggs in the first quarter of 2022 was $1.61. A year later, that price jumped to $3.30 in the quarter ending on Feb. 25.

The company also sold 1% more eggs than it did a year ago, so its revenue more than doubled to $997.5 million.

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https://www.washingtonexaminer.com/policy/economy/egg-company-sees-718-profit-surge-as-prices-soar

[Sighlass]

Getting some chickens here in a few weeks... what do I expect... probable some stray dog will get him a live chicken dinner and I will have egg on my face.

[roamer_1]

Getting some chickens here in a few weeks... what do I expect... probable some stray dog will get him a live chicken dinner and I will have egg on my face.

Can't do a coop and a run?
Look into a chicken tractor or a chickshaw.
A chicken tractor would be easiest to make and move... A chickshaw is easy to move, but more complicated, and requires a portable electric net.

Either very effective against dogs, and keeps the chickens on fresh ground (you move them every few days)

[Sighlass]

Can't do a coop and a run?
Look into a chicken tractor or a chickshaw.
A chicken tractor would be easiest to make and move... A chickshaw is easy to move, but more complicated, and requires a portable electric net.

Either very effective against dogs, and keeps the chickens on fresh ground (you move them every few days)

@roamer_1

I have an big old Trampoline across the street and thinking about wrapping it for a pen.... It is light enough the boy and me can move it when needed. It was something the wife wanted to try anyhoo, I ain't exactly sold on the idea, but I do like eggs.

[sneakypete]

@roamer_1

I have an big old Trampoline across the street and thinking about wrapping it for a pen.... It is light enough the boy and me can move it when needed. It was something the wife wanted to try anyhoo, I ain't exactly sold on the idea, but I do like eggs.

@Sighlass

Seems like a lot money spent and work to save 2 bucks a week on eggs. Have you stopped to consider how little  of ANYTHING 2 bucks buys  you these days?

And that is not even considering having to gather and wash the eggs every day. How much  is  your time worth?

[LMAO]

@Sighlass

Seems like a lot money spent and work to save 2 bucks a week on eggs. Have you stopped to consider how little  of ANYTHING 2 bucks buys  you these days?

And that is not even considering having to gather and wash the eggs every day. How much  is  your time worth?

My wife used to raise chickens and the feed was pricey then. I imagine it’s worse now

Plus, if you want them producing all year, you need a warming light of some kind for winter to fool the hens in thinking it’s still laying season

[andy58-in-nh]

Cue Bernie S. & Liz W.: "It's time we put an end to price gouging by Big Egg!! We hereby propose new taxes on these outrageous profits, with all funds going to help the Farm Workers union organize these poultry sweat shops!"

[Kamaji]

Cue Bernie S. & Liz W.: "It's time we put an end to price gouging by Big Egg!! We hereby propose new taxes on these outrageous profits, with all funds going to help the Farm Workers union organize these poultry sweat shops!"

Exactly.

[Cyber Liberty]

So when do we start protesting Big Egg?

[Free Vulcan]

Getting some chickens here in a few weeks... what do I expect... probable some stray dog will get him a live chicken dinner and I will have egg on my face.

Good Utubes videos on raising yardbirds and building secure coops. They'll give you a good lay of the land.

[libertybele]

Buying local eggs around here is much cheaper.  They come in an open flat though and you have to buy 3 or 4 dozen at a time -- we just don't eat that many eggs .... and getting the open flat home without breaking any eggs would be tricky.  So, I've been paying the higher prices.

[roamer_1]

@roamer_1

I have an big old Trampoline across the street and thinking about wrapping it for a pen.... It is light enough the boy and me can move it when needed. It was something the wife wanted to try anyhoo, I ain't exactly sold on the idea, but I do like eggs.

I reckon that will do... Depends on how many chickens.

We do both tractors and coop.
Our tractors are something like 4x10 I suppose, built mostly of 2x2 sticks, with tin on about 1/3rd of the walls and 2/3rd of the top - though corrugated plastic would be lighter... 1 decent feller can move em fine... once a day through the summer... twice in the spring and fall when the grass is weaker. Something like that, for household chickens, 5 to 10 of em, say, would be plenty. You'd have to add lay boxes, maybe on the top or off the end, but plenty good enough. And cheap and easy to make out of 2x2s roofing tin and 1/2" hardware cloth.

Jussayin.

[roamer_1]

@Sighlass

Seems like a lot money spent and work to save 2 bucks a week on eggs. Have you stopped to consider how little  of ANYTHING 2 bucks buys  you these days?

And that is not even considering having to gather and wash the eggs every day. How much  is  your time worth?

@sneakypete

Nope and nope.

Farm fresh eggs are not the same thing as what you get from the store. So the money don't even matter. And you are forgetting the stew pot, which is the other side of raising birds... They change out about every two years, and the graduates go to freezer camp.

I have a freezer full of 4 lb chickens that are basically a secondary output of raising hens... That ain't altogether right or fair to say, because we intentionally raise meat birds too... But it remains that retired hens and hatched roosters are a part of that.

And you don't wash eggs if you can help it. They keep a long time at room temperature if you don't wash em. If they are clean, leave em be. If they are dirty you have to wash em, and then they have to go in the fridge. And you eat those first.

but if your eggs are always poopy, you ain't doing it right.

[roamer_1]

Buying local eggs around here is much cheaper.  They come in an open flat though and you have to buy 3 or 4 dozen at a time -- we just don't eat that many eggs .... and getting the open flat home without breaking any eggs would be tricky.  So, I've been paying the higher prices.

They come up here from the ranch 4 dozen at a time... I keep em in the fridge, but they keep fine... And I mostly only eat 2 or 3 for breakfast a day...

As for keeping em, I save cartons. So just transfer from the flat to the cartons. And then they stack in the footprint of one carton, which is nicer on critical refrigerator real estate.

[libertybele]

@sneakypete

Nope and nope.

Farm fresh eggs are not the same thing as what you get from the store. So the money don't even matter. And you are forgetting the stew pot, which is the other side of raising birds... They change out about every two years, and the graduates go to freezer camp.

I have a freezer full of 4 lb chickens that are basically a secondary output of raising hens... That ain't altogether right or fair to say, because we intentionally raise meat birds too... But it remains that retired hens and hatched roosters are a part of that.

And you don't wash eggs if you can help it. They keep a long time at room temperature if you don't wash em. If they are clean, leave em be. If they are dirty you have to wash em, and then they have to go in the fridge. And you eat those first.

but if your eggs are always poopy, you ain't doing it right.

The community tried to get the city ordinance changed so we could have chickens -- unfortunately no such luck. 

[Lando Lincoln]

Here’s a chicken story from my youth. We had a “clucking” hen that lived for hatching her own brood. With one brood, she kept rejecting an egg from the nest. I candled the egg and could see that it was viable. So, I placed it in my homemade incubator (still have it!). When the chick emerged from the egg, it only had one leg. The wonders of nature.

[libertybele]

They come up here from the ranch 4 dozen at a time... I keep em in the fridge, but they keep fine... And I mostly only eat 2 or 3 for breakfast a day...

As for keeping em, I save cartons. So just transfer from the flat to the cartons. And then they stack in the footprint of one carton, which is nicer on critical refrigerator real estate.

Good grief I should have thought of that -- save the darn cartons. Thanks @roamer_1 

[roamer_1]

The community tried to get the city ordinance changed so we could have chickens -- unfortunately no such luck.

Sorry for you. 

I can't live like that. And I won't.

[roamer_1]

Here’s a chicken story from my youth. We had a “clucking” hen that lived for hatching her own brood. With one brood, she kept rejecting an egg from the nest. I candled the egg and could see that it was viable. So, I placed it in my homemade incubator (still have it!). When the chick emerged from the egg, it only had one leg. The wonders of nature.

Ain't it?

Same with a bitch eating her pups.
Yeah it's gross, and seems wrong...
but usually there is a reason.
 

[roamer_1]

Good grief I should have thought of that -- save the darn cartons. Thanks @roamer_1 

 

Second nature here... because of egg sales. We never have enough cartons. I buy store eggs for boiling, so saving the cartons for the egg sales just became second nature. Not so much now... we just buy cartons.

[Sighlass]

They come up here from the ranch 4 dozen at a time... I keep em in the fridge, but they keep fine... And I mostly only eat 2 or 3 for breakfast a day...

As for keeping em, I save cartons. So just transfer from the flat to the cartons. And then they stack in the footprint of one carton, which is nicer on critical refrigerator real estate.

I remember a Poultry Science class I took years ago... an egg will keep durn near a year... and quite a long time without refrigeration. 

[roamer_1]

I remember a Poultry Science class I took years ago... an egg will keep durn near a year... and quite a long time without refrigeration.

Yep. IF they are not washed they last a dang long time.
Same goes for glassing eggs, to keep em even longer, which also only works if they are unwashed.

[catfish1957]

Misleading title.  718% increase as a benchmark can be highly skewed as far as statistically what is going on in real life.

I own zero of this stock, but here are some of the financial details.....

Cal-Maine Foods Ticker Symbol (CALM) on NASDAQ

Market Cap - $3.18 B
EPS - $9.51/sh

Yield- $3.08/sh. or 5.67%. This is hardly price gouging or profiteering.   Hell....short term treasuries have beeb  yielding 3.5 - 4%.

When a company a year earlier is barely breaking even a year earlier 718% (or pennies per share a year ago) this is irrepsonsible financial reporting of the worst kind.

[roamer_1]

Yeah... I kinda figgered as much.

I was looking at it like their gross went way up, but the article didn't say a dang thing about expenses, labor,  and interest, which also have skyrocketed. And whatever profit they got is in inflated dollars too.

Mean ol chicken farmers...

[Lando Lincoln]

Yeah... I kinda figgered as much.

I was looking at it like their gross went way up, but the article didn't say a dang thing about expenses, labor,  and interest, which also have skyrocketed. And whatever profit they got is in inflated dollars too.

Mean ol chicken farmers...

And they just pay the birds chicken feed.