the me the bag in december 2021, a dozen eggs cost an average of a $1.78. but today eggs have had a staggering increase of a 138 percent in the us. now the sticker shock isn't limited to just eggs, but also beef. i'm chris b. i. you're watching the cost of everything. where today will be breaking down the flooring prices for basic food items and the rising costs of eggs. ah, the outbreaks of the highly pathogenic amy and influenza have killed over 60000000 hands in february 2021, which is more than 5 percent of the u. s. chicken block. now this particular strain of bird flu seems to me lasting longer and it's taking a heavier toll,

beating the prior record set in 2015. when about 15000000 birds died. egg production has also declined by 6.7 percent since 2021. and the department of agriculture also reported that eg inventories across the country were 29 percent lower in december of 2020 to the start of the year. if just one bird is infected among a flock, then all of the hands must be killed in order to avoid and even greater spread. farms have to shut down ventilation and turn up the heat and chairs to further prevent the spread. once a farm suffers a flu outbreak is likely it won't produce eggs again for at least 6 months. now this dynamic is happening simultaneously across multiple farms. in supermarkets, wild bird flew is partially to blame for the rising cost of eggs. one group is alleging the trend is also due to something more in the far east than simple economics. the industry narrative has largely focused on the historic outbreak of

bird flew and pointed to that as a primary driver of those higher prices. but farm action, a farmer lead advocacy group claims that the real culprit is a collusive scheme among major egg producers to fix and gouge prices. the organization has penned a letter to the federal trade commission, calling for an investigation, claiming that major egg producers have been able to extract egregious profits reaching as high as 40 percent. the organisation has pointed to cow main food, the nation's largest egg producers, and industry bellwether to reported a tenfold increase in profits over the 26 weeks. and in november 26. meanwhile, cow may insist that their price types have been in line with inflation and the rising cost of transportation, as well as the global price rise in seas. and the prices of fees used to raise laying hands. during the prior bird flew outbreak and 2015. wholesale prices rose

about 68 percent for every one percent decrease in the number of egg laying hands. today though, prices have increased about 15 percent for every one percent increase in egg laying heads of the last year. now the shortage is worldwide with europe and asia also seeing an egg price rise over 9 percent in the past year. outbreaks in sweden, italy, and hungry, all of which are major producers have forced authorities to prohibit the export and movement of poultry. so now let's bring in amy smith, vice president of advanced economic solutions for more on this price issue. so how long is this avian influenza supposed to last? are we expecting it to dive down anytime soon? if i knew how viruses acted, then you know, there would be,

we'd be able to figure out a lot of things. right. but yes, i don't. i don't know how long it was last, especially when we're talking in the u. s. you, if you look back, it's some historical data in europe. they've been dealing with this since i think late 2020, maybe early 2021. and you know, most of this appears to be of similar strains. so i'm not too confident, but it's, it's at least not going to be going away until maybe the end of the spring. but we could continue to see it can, you know, move through into next fall. obviously, it tends to maybe go slightly dormant in this, in the summer time, which allows producers to perhaps breathe a sigh of relief. but, but then still, you know, piques back up in september,

october when we have further wild bird migrations during that time now which country is being impacted the most by high prices and which country has the highest demand for a consumption? i would say for the most part, most countries are being impacted because you see a lot of, you know, important export from one country into another. and some of that stuff has been either restricted or there's not enough availability in one country for another country. you're seeing it probably a lot more impacted in europe. i think we're starting to see infections in places like asia and south america, america. so, you know, i think lot of, you know, consumers across the globe are really starting to feel that patch, especially since your eggs really are a staple for most people diet. it's not something that super, you know,

there's not a big substitute for, you know, eggs in, in most places. so, you know, i think that's certainly part of the reason why we've seen such a you know, what's the right word with why we've seen such a big, you know, push around, you know, media and eggs over the last i'd say a month or so. and then from which country is the highest demand, you know, i didn't know the answer that i serve to look a little bit into it. the food and agricultural organization of the you, of the united nation has some information on that. i think most of it's through 2021 information, but i think the netherland, which is a really small country they, they, they go through like $338.00 per capita per person a year. that's about in a day, on average, you know, a little less than that. i think japan,

somewhere close to that, mexico's probably some more close to in a day. so, you know, 3360 to 380. and then to compare that us, it's somewhere around a $280.00. now i thought the you alighted, states would have higher prices since we are a very high baking country, producing lots of bread cakes and all that. i actually thought so too, but it looks like it has declined a little bit the last few years. we didn't feel a bit of a spike in 2020 which kind of makes sense because there was a lot of people at home cooking and, and they made, they made a for breakfast for a lot of people, you know, going back to work. maybe they don't, maybe they grab a protein bar or something like that. so and that's again why there's that high demand for eggs in this country. it's a holiday. you know, everybody wants to make those fun deserts and treats and all that you know for,

for their holiday guests and stuff. are chicken and poetry prices also be impacted by birth flu or is it more so affecting the laying hands and specifically the eggs? yeah, that's a good question. primarily here in the us, it's been, you know, a layers introduce, you know, we've seen some ducks, we don't have a lot of commercial ducks in this country. but if you look at like europe it's, it's been pretty impactful for ducks cuz i think france is a big producer. and, and so it's impacted turkey prices and we see he saw 30 braces serge here in the u. s. somewhere close to 60 percent last year. it has started back off a little bit, but i mean, we're still at some pretty historical highs, which is also impacted. the u. s. is exports of turkey

because other countries have either restricted buying or he or that it's just too expensive. other countries you don't want to buy, it can do expensive. other, you know, boilers which are actually chicken better rates for chicken meat. so things like your bone skin with fresh buy meat. you know, that sort of thing has not been as impacted here in the us. we did see wine commercial flack in mississippi impacted a couple of days ago. and so kind of put, you know, that because that, that part of the country, mississippi in the southeast that a really big producer of, of brother meat chicken. so to put a little, you know, probably a little concerned in some of those producers minds about where, where is it, what's to come? but you know, if you compare how many have been impacted total, we've got 44400000 layers impacted 9800000 turkeys

impacted, but under 3000000 boilers been impacted over the last 12 months. what causes the search of avian flu this year, and how is it different than the prior years? are we expected to have this phenomenon happen every couple of years? because it seems like this is a very recent trend. yeah, i mean, the last time the us saw it, you know, impacts huge. it was 2015. you know, we saw, we saw infections that spring and then i think it was mid june or so it stops and then return. so clearly, you know, i think we, we all learned a lot about viruses during cobit rates who clearly mutated and changed some things . and it's definitely more of an aggressive or, yeah, aggressive virus. i think we're starting to see,

or we have seen wild birds that are, are that are carriers of it, but not necessarily having symptoms of it. so if they're carrying it any don't really have it. they can still spread it. so, you know, i think we're starting to see more and more of that. i, i know the e you came out, i think it was this summer and said something along the lines of they believe that this is something that's endemic within their wild bird population. and to me that really just says that, ok, it's in demick, it's not going to go away. and this is something that, you know, commercial, you know, 3rd, producers are going to need to deal with. and i'm really starting to think the best the case here in less well. so i don't think it's going away, at least until, you know, it does some sort of mutating and, and changes its course in terms of,

of, you know, how it is spread. is it really shocking to see how high so the exit, you know, you purchase for nice dollars with the on the bar to which you put in a clinical pause. even lynch. so it's going out of the agenda in the system image. and as i say on the reason i ask you, is, i'm sure political some, mon, i said a lot to us on the saw, the english american lost so much so much missing a store to see the last bill is as you know, the one of us but they were not on apple much funding of runaway. nope. i i welcome back to the cost of everything the

world consumers have been cutting back on need since the early days is a pandemic in order to save on costs. in 2022, the drop and demand started with beef and while it is quite common to see meat sales fly dry economic downturns, what is interesting is that demand is falling faster in many of the countries where beef has traditionally been the protein of choice. in argentina, beef is tightly woven into the national culture, and even in previous recession, beef has been resilient. however, recent soaring prices in the nation, of course, consumers are trained down to chicken, which is now the country's top protein. in argentina, the government sees a drop of more than 2 percent for beef in the u. s. a 5 percent drop is expected. r a y has a title of the world, the biggest carnivore on a per capital basis. however, because beef prices rose by more than 19 percent over the last 6 years,

while pagan poultry prices fell by point 8 percent and 10 percent respectively. at the same time, consumption of chicken import went up while b fell. meanwhile, the u. s. department of agriculture found that in 2022 there was a 91900000 headcount a cattle and kaz the u. s. which is down 2 percent from the year prior. this is its 3rd straight yearly drop and fewer cattle means more expensive. neat. prices for beef are 9.6 percent higher than this time last year. and beef is currently at a price point in many markets that make it difficult to compete with cheaper proteins at a time where consumers are also price, conscience, ranchers, blaine, this decline on the rising cost of corn and soybeans which are used to feed cattle . dry hot weather also means that more money needs to be spent to pump groundwater up just to keep the past life or the cattle and with the drought. many cattle were

also loss due to pneumonia, which is caused by the daily temperature swing. so altogether, the weather which makes it still as more labor is required to look after the kaz and the rising cost of feed has created the perfect storm. while beef consumption is declining in many parts of the world, asia and other emerging markets are beginning to increase beef consumption in their diets. china imported 1690000 tons of beef from all over the world, which is a 2 100000 ton increase from the same period in 2021. as of now beef prices and the chinese market is around $9.00 per kilogram, which adds up to only one percent rise within the last year. the increase in beef consumption in china can be attributed to an overall lifestyle improvement and growing middle class. historically, china has been the largest pork consumer in the world,

but now beef is taking its fair share. while pork occupy 95 percent of all meet consumption in china and 2014. as of 2020, it dropped to 73 percent market share. at the same time, beef climbed up to occupy 9.3 percent of the market share, and it's still growing. since 2019 china surpassed the us to become the biggest beef importer in the world. amy smith, vice president of advance economic solution is back with us. so amy, what is the average margin for cattle ranches, selling beef? yes. next kind of a tough question because it really depends on a lot of factors. but, you know, if, if you look at, i do kind of the index calculation based off of feed costs, you know, relative to how much cattle we're selling for. and, you know,

for all intensive purposes, you know, for the better part of you know, the last well, since before the ukraine war started so early, 2022 feed prices have increased. ah, about 2015 to 20 percent. now if you look pre pandemic fee prices have have increased north of 50 percent. and i think, you know, that just goes to show be inflationary pressures. that not only consumers are feeling but, you know, producers that, that produce the product that you're consuming, or feeling as well. you know, i would say, depending on region and also, depending on, you know, cattle way to in that sort of thing. i would say margins are pretty tight at this point. we are starting to see that loosen low as cal pricing start to increase

because we're seeing a less available cattle out there. there was a prior to a pretty big sell off over the course of the last several years because of high feed costs because of drought conditions in the us. and. and so we're going to be seeing tighter cattle supplies in the us tire beef supplies as well. now what country has the highest price for b fry now and what is contributing to the price inflation for beef? so i don't know the highest country from a pricing standpoint, my guess would probably be an asian countries such as china or japan. but because they actually, let's see, japan and china, i think is number one, number 3 as the top exporting country or export partner with, with the u. s. on the side of things. so they export quite a bit of,

of us products are important to me. you know, as far as what's contributing to the price depletion for beef has a lot to do with, you know, what it talks about on the inventory side of the we were seeing to started the year . we're seeing overall cattle inventory down 3 percent here in the us. we've also seen a breeding heard which you know, you have to have mama cows in order to have baby cows. those mommy has been, you know, sold off because producers can't afford to feed them or the pasture is right up and there's no, you know, nothing for them to eat. and so that, that the beef cow herd is i think it's 3.6 percent in the last year. and that's actually the lowest we've seen since the early sixties. so if you think about that and you compare that to how many more people we have in the world from,

you know, the early sixty's, that's a pretty big a significant impact. and so, you know, we kind of get a turnaround on this drought situation. we're probably going to see price inflation on beef. you know, for the foreseeable future, it takes a lot longer to produce a calf that turns into the or a half or a year that is going to market. it does to produce a chicken chicken takes a couple of months whereas. ready you know, account stickle years. now, while all food items and needs have experienced price inflation, it is not proportional, which means now have experience higher price inflation than others. and why? we just talked about beef. it's probably a real big one. the other one would be turkey, and that has again, a lot to do with high pass, even in the, similar to what we talked about on the side. you know, they've, excuse me,

they've seen, you know, what was it somewhere around 9800000 birds impacted since i think february, so within the last 12 months. so that's been a pretty big shock to you know, to the oral turkey industry. if you're looking at your port work is certainly seen some, you know, big inflation pressures, you know, from retail value, we're talking overall work is still up somewhere around, you know, 2 to 3 percent versus a year ago. it started the year up 15 percent versus year ago. so we've seen a little bit of, you know, inflation correction there. you know, pork has less inventory as well. you know, i think overall producers of a lot of lives to hawk are just uncertain about where the world's going, right? know if there's going to be an overall economic slowdown, recession, i hate to use the word, but is there going to be a recession? and that tends to decrease overall demand for producers don't want to flood the

market or the supply side of things. if demand is going to end up dropping the overall demand for beef growing or shrinking around the world, and is there enough supply to keep up with demand? i would say overall be demand increasing. like i said, we continue to see the u. s. export of beef. i think it was up about 3 percent on a volume basis for 2022 places like china continues to be a big partner. you know, with regards to u. s. b as well as, as japan. i do, i do think supplies are going to tighten over the next couple years. you know, we have other places like, you know, we're still the big beef producer. and so is, you know, i'll show ya. and you know, those locations, you know, are, are looking pretty decent from overall production standpoint. but i still think,

overall we're probably going to see, you know, lower lower beef production. and that's kind of when economics kicks in. right. you know, you have less supply prices going to go higher until demand backs off. so i don't think we're going to run out of product. you mean? but, you know, we could see, you know, high prices to help offset at less supply. thank you so much. amy smith, by joining us today as prices rise, it seems like the consumers are the ultimate losers, who now have to find alternative sources of protein. the winners, though, are poultry and pork ranchers, who now see increased demand for their cheaper proteins. in 2022 chicken consumption reached over 90000000 metric tons, which is double the amount in 1999. that is more than 3 times the growth rate of pork and 10 times that of beef. global chicken consumption is on track to account

for 41 percent of all meat eating by 2030. but despite high demand among consumers, poultry is still facing headwinds that could slow as momentum. as the crisis in ukraine continues to inflate, the cost of brain that goes into the animal feed and the latest strain, birth flu going around. poultry producers could be forced to raise their prices as well if they have trouble growing supply. i'm chris p. i. thanks for watching and we'll see you back here next time on the cost of everything i i ah,

with the discovery of the new world at the end of the 15th century, there appeared atlantic slave trade. the slave traders from european countries started building fords on the western coast of the african continent to transport the african inhabitants to america, to be forced into hard labor. until the middle of the 17th century. portugal had played the main role in this atrocious business. then great other lends, took the leadership, 17000000 people were full transportation, and cruel obliteration of rebellion. this ruthless people tre, practice by the leading european countries, took away gens of millions of african lives. the organisation of united nations classifies that trans atlantic slave trade as one of the gravest human rights abuses in the history of humanity. this is the biggest act of deportation of

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ah, and number of prisoners reportedly breakouts of j a k. often for a ship mostly among the days. also ahead of course i knew how famous i remember can call the golf course. i was sure that this time given the attention that was drawn to the ugly behavior. everything would be different. but i was mistaken for a minute to say, well, i won't forget, no, this is america's decision to deny fees in russian with a lease to pay to seek separatist organizations lead off with the latest episode of going on.