Largest US egg producer cooperating in Justice Department price probe

(Reuters) -The largest U.S. egg producer, Cal-Maine Foods (NASDAQ:CALM), is cooperating with a U.S. Department of Justice investigation into high egg prices and whether producers have conspired to raise them, the company said on Tuesday.

The DOJ sent Cal-Maine a civil investigative demand last month, the Ridgeland, Mississippi-based company said in a regulatory filing, adding that the eventual scope, duration and outcome of the investigation could not be predicted at the time.

Abigail Slater, head of the DOJ’s antitrust division, has said the division will prioritize enforcement against anticompetitive conduct in U.S. consumer markets.

Egg prices have declined in recent weeks from record highs, though their wholesale cost is still up 60% from this time last year at $3 per dozen, according to USDA data.

Weaker demand and a lull in new cases of bird flu have helped cool prices, analysts said.

Industry experts said Friday that tariffs levied by the Trump administration could boost the price of imported eggs.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.Should you invest $2,000 in CALM right now?

With CALM making headlines, savvy investors are asking: Is it truly valued fairly? In a market full of overpriced darlings, identifying true value can be challenging. InvestingPro's advanced AI algorithms have analyzed CALM alongside thousands of other stocks to uncover hidden gems. These undervalued stocks, potentially including CALM, could offer substantial returns as the market corrects. In 2024 alone, our AI identified several undervalued stocks that later surged by 30 or more. Is CALM poised for similar growth? Don't miss the opportunity to find out.

Reveal Undervalued Stocks Now