In February, wholesale egg prices jumped to all-time highs. More recently, they’ve fallen sharply, offering some welcome relief to consumers. The Easter holiday is coming up on April 20th. This big jump in demand will probably dampen the extent to which drops in price make their way through the grocery store.

Earlier last month, the U.S. Bureau of Labor Statistics released a staggering number. Consumers are currently paying an average of $5.90 for a dozen large grade A eggs—an all-time high! A particularly virulent bird flu outbreak killed tens of millions of egg-laying birds from Maine to California. This catastrophic incident resulted in a drastic increase of wholesale egg prices, making a mark on the overall cost.

Expana, a real-time tracker of agricultural commodity prices, said wholesale egg prices fell to $4.83 per dozen on Friday. That’s a 44% drop from the high of $8.58 per dozen set on Feb. 28. PERENNIAL INFLATION SCOLD NO MORE Wholesale prices are plummeting. Such a decline would provide much-needed relief for consumers who have had to cope with exorbitantly priced eggs the last several months.

The U.S. Department of Agriculture recently reported the positive supply impact of slowing bird flu outbreaks.

Slowing [bird flu] outbreaks are leading to improved supply availability and wholesale market prices have responded with sharp declines over the past week. - U.S. Department of Agriculture

Although the recent price retreat, uncertainty is still prevalent in the market. Adding to that is the approaching Easter holiday, normally a time of peak egg consumption, which is predicted to have demand high.

The U.S. Department of Justice announced a new antitrust investigation. They are looking at the pricing and supply practices for major egg producers, adding yet another twist to the contentious saga. The investigation is looking into whether these companies colluded or otherwise took part in anti-competitive behavior that resulted in consumers paying inflated prices for eggs.

Egg prices will likely remain highly variable for the near future, but at a higher-than-usual level. - Kevin Bergquist, an egg analyst at the Wells Fargo Agri-Food Institute