USDA to buy $11.7 million of shell eggs to ease surplus

By Daniel Enoch

© Copyright Agri-Pulse Communications, Inc.



WASHINGTON, Aug. 25, 2016 - USDA is planning to buy up $11.7 million worth of shell eggs and egg products to ease a surplus as farmers and egg processors try to cope with falling prices.

Lets Talk Food
A USDA spokeswoman said the products will go to various food nutrition assistance programs, and to charitable institutions. The actual dollar amount spent will depend on bid prices received after a formal solicitation is published, the department's Agriculture Marketing Service says on its website.

Did you know Agri-Pulse subscribers get our Daily Harvest email and Daybreak audio Monday through Friday mornings, a 16-page newsletter on Wednesdays, and access to premium content on our ag and rural policy website? Sign up for your four-week free trial Agri-Pulse subscription.

Chad Gregory, president and chief executive officer of the United Egg Producers, was not available for comment on Thursday. However, he was quoted in Urner Barry's Foodmarket.com report as saying the purchase comes at a time when egg farmers are “experiencing some of the lowest prices in years.”

USDA on Tuesday announced it will spend an estimated $20 million to take about 11 million pounds of cheese off the market and reduce a surplus that has helped keep dairy prices low.

#30

For more news, go to: www.Agri-Pulse.com


Terms of Use | Privacy Policy
blog comments powered by Disqus
 Most Popular