This update of U.S egg-production statistics, costs and prices is provided for the information of producers and stakeholders

SEPTEMBER HIGHLIGHTS

• September 2025 USDA ex-farm blended USDA nest-run, benchmark price for conventional eggs from caged hens was 175 cents per dozen, down 41 cents per dozen or 19.0 percent from the August 2025 value of 216 cents per dozen. The corresponding September 2023 and 2024 values were respectively $0.96 and $3.33 cents per dozen. For annual comparison, average monthly USDA benchmark price over 2023 was 146 cents per dozen and 247 cents per dozen for 2024. Stock levels and prices prior to the onset of flock depletions due to HPAI indicated a relative seasonal balance between supply and demand. Future nest-run and wholesale prices will be largely dependent on consumer demand for shell eggs and products, re-emergence of HPAI, net imports and the rate of replacement of pullets and hens depleted due to HPAI. Other considerations include diversion to shell sales from the egg-breaking sector in an interconnected industry. Imports declined sharply during the past quarter although the U.S. ran a negative trade balance through July.
• September 2025 USDA ex-farm negotiated USDA nest-run, benchmark price for all categories of cage-free eggs was 147 cents per dozen, down 76 cents per dozen or 34.1 percent from the August 2025 value of 223 cents per dozen. The corresponding September 2023 and 2024 values were respectively 120 and 208 cents per dozen.
• Fluctuation in wholesale price is attributed in part to the amplification of upward and downward swings associated with the commercial benchmark price-discovery system in use. An important factor influencing pricing is the proportion of shell eggs supplied under cost-plus contracts accentuating the upward and downward price trajectory of uncommitted eggs as determined by the price discovery system. Highly pathogenic avian influenza was the major driver of price in 2024 and through Q1 of 2025 due to the high incidence rate. Approximately 40 million hens and at least 2.0 million pullets were depleted in 2024 with close to an additional 36 million birds, (hens and pullets) in 35 complexes or farms through mid-May 2025. The Fall 2025 losses involved two complexes of 3.1 million hens in late September and 2.0 million in early October.
• September 2025 USDA average nest-run production cost for conventional eggs from caged flocks over four regions (excluding SW and West), applying updated inputs was 74.6 cents per dozen, up 0.9 cents from August 2025 at 73.7 cents per dozen. The September average nest run production cost for other than caged and certified organic hens was estimated by the EIC to be 93.9 cents per dozen up 1.7 cent per dozen from August. Approximately 60 cents per dozen should be added to the USDA benchmark nest-run costs to cover processing, packing material and transport to establish a realistic cost value as delivered to warehouses.
• September 2025 USDA benchmark nest-run margin for conventional eggs attained a positive value of 100.4 cents per dozen compared to a positive margin of 142.9 cents per dozen in August 2025. Year to date the average monthly nest-run production margin has attained 296.3 cents per dozen. Average nest-run monthly margin for 2024 was 170.8 cents per dozen compared to 64.2 cents per dozen in 2023 and 155 cents in 2022.
• September 2025 USDA benchmark nest-run margin for all categories of cage-free eggs attained a positive value of 53.1 cents per dozen compared to a positive margin of 130.8 cents per dozen in August 2025. Year to date the average monthly nest-run production margin has attained 352.2 cents per dozen. Average nest-run monthly margin over 2024 was 440 cents per dozen compared with 100 cents per dozen in 2023, relatively unaffected by HPAI compared to the preceding and following years.
• The August 2025 national flock (over 30,000 hens per farm) was stated by the USDA to be up by 6.6 million hens (rounded, and a probable undercount) to 285.9 million compared to approximately 326 million before the advent of the H5N1 epornitic of HPAI in 2022. Approximately 3.5 million hens returned to production from molt during the month together with projected maturation of 23 million pullets, with the total offset by depletion of an unknown number of spent hens. On October 8^th USDA estimated the total U.S table-egg production flock at 304.5 million with 298.1 million actually in production.
• August 2025 pullet chick hatch of 28.7 million was down 0.4 million (-1.4 percent) from July 2025 but inconsistent with an increased industry need to replace depopulated flocks.
• August export data will be released after resumption of Federal activities. In July 2025 exports of shell eggs and products combined were up 27.1 percent from June 2025 to 376,600 case equivalents representing the theoretical production of 5.6 million hens. Shell egg exports totaling 72,000 cases were dominated by Canada (38 percent of volume) the “Rest of Americas” including the Caribbean (40 percent). With respect to 304,000 case equivalents of egg products, importers comprised Canada (32 percent of volume), “Rest of Americas and the EU (each 20 percent), Japan, (12 percent), Mexico, (8 percent) collectively representing 98 percent of shipments. Volumes exported are based on the needs of importers, competing suppliers, availability in the U.S. and FOB prices offered.          
• According to the USDA Egg Market Overview released on September 8^th, all egg imports (shell, liquid and dry) in July attained 19.5 million dozen shell equivalents compared to exports of all categories of 11.2 million dozen shell equivalents.
• For 2025 through July the negative trade balance in all shell and derived egg products attained 15.5 million dozen shell equivalents.

TABLES SHOWING KEY PARAMETERS FOR SEPTEMBER 2025.

Summary tables for the latest USDA September 2025 flock statistics, costs and unit prices were made available by the EIC on October 13^th 2025. Data is arranged, summarized, tabulated and compared with values from the previous September 12^th 2025 release reflecting August 2025 costs and production data, as revised and applicable. Monthly comparisons of production data and costs are based on revised USDA and EIC values.

VOLUMES OF PRODUCTION REFLECTING THE ENTIRE INDUSTRY                                                                                   

*USDA Revised

*Revised USDA/EIC Note 1. Texas excluded to maintain confidentiality

PROPORTION OF U.S. TOTAL HENS BY STATE, 2025                                                                   

Based on a nominal denominator of 285 million hens in flocks over 30,000 covering 95 percent of the U.S complement.

USDA has amended inclusion of specific states in regions and eliminated Texas data to protect confidentiality of Company flock

Sizes

1. Values rounded to 0.1% 

Rate of Lay, weighted hen-month (USDA)   81.5 September 2025.    82.1% August 2025

*Revised USDA

*Revised, using data from USDA Livestock, Dairy and Poultry Outlook September 18^th 2025 taking into account demand from the food service sector and presumably including the effect of HPAI depopulation and net importation.

EGG INVENTORIES AT BEGINNING OF SEPTEMBER 2025:

EGGS BROKEN UNDER FSIS INSPECTION (MILLION CASES)   AUGUST 2025, 7.03     JULY 2025, 6.94 

Export and import data for August was not released due to Federal shutdown.

EXPORTS JULY 2025: (Expressed as shell-equivalent cases of 360 eggs).

*Representing 1.8 percent of National production in JULY 2025 (0.4% shell, 1.4% products).                    

COSTS AND UNIT REVENUE VALUES¹ FOR CONVENTIONAL EGGS FROM CAGED HENS

Notes:   1. Excludes SW and West 

Components of Production cost per dozen:-

Ex Farm Margin (rounded to nearest cent) according to USDA values reflecting September 2025:-

                                                        175.0 cents per dozen¹- 74.6 cents per dozen = 100.4 cents per dozen         (August 2025 comparison:         216.0 cents per dozen – 73.1 cents per dozen  = 142.9 cents per dozen.

Note 1:  USDA Blended nest-run egg price

1. Unrealistic USDA values based on advertised promotional prices with few participating stores, non-representative of shelf prices!

Caged hens depopulated for HPAI attained 3.1 million on a complex in WI. during September

AVERAGE COSTS AND UNIT REVENUE FOR EGGS FROM CAGE-FREE HENS

Components of Production cost for cage-free eggs, per dozen:-

Ex Farm Margin (rounded to cent) according to USDA values reflecting negotiated price for SEPTEMBER 2025:-

Cage-Free brown     147.0 cents per dozen¹- 93.9 cents per dozen =  53.1 cents per dozen

August 2025:-           223.0 cents per dozen -  92.2 cents per dozen =  130.8 cents per dozen  

 1.       Contract price, nest-run loose. Range 155 to 210 c/doz. Negligible change since July 2024 and totally unrealistic.

1. Negotiated price, loose. Range $1.20 to $2.60 per dozen
2. Estimate based on prevailing costs
3. Unrealistic USDA values based on promotional prices with few participating stores and non-representative of shelf prices

Cage-Free HPAI losses 2.0 million during October on WA complex

* Conventional (non-organic) feed

Feed prices used are the average national and regional values for caged flocks. Excludes organic feeds with prices substantially higher than conventional.