Cal-Maine Foods Inc., the nation’s largest egg producer, on Tuesday acknowledged that it is being investigated by the Department of Justice’s Antitrust Division over the national increase in egg prices.
The brief admission in its newest financial report made headlines and the company’s shares fell by about 4 percent in after-hours trading.
“In March 2025, the Company received a civil investigative demand in connection with a widely publicized investigation by the Antitrust Division of the Department of Justice into the causes behind nationwide increases in egg prices,” Cal-Maine said in its financial report for its third quarter on Tuesday. “The Company is cooperating with the investigation.”
Egg prices have hit record highs in recent months, largely due to a bird flu epidemic that has forced farmers to slaughter more than 166 million birds, mostly egg-laying chickens.
One dozen Grade A eggs cost an average of $5.90 in U.S. cities in February, up 10.4 percent from a year ago. That eclipsed January’s record-high price of $4.95.
The Ridgeland, Mississippi-based Cal-Maine accounts for roughly 20 percent of the nation’s egg supply.
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