Three of the nation's top egg producers colluded behind the scenes to raise prices for years, according to a Department of Justice investigation.
New York Attorney General Letitia James on Tuesday said she secured more than 50 million eggs for consumers nationwide and $3.3 million from Cal-Maine Foods, Versova/Centrum, and Hickman’s Egg Ranch for illegally coordinating to influence a daily price index for eggs, which artificially increased prices for retailers and consumers throughout the country.
Of the 53 million eggs obtained through the settlement, approximately 4.9 million eggs will be delivered directly to food banks and community organizations serving New Yorkers, James said.
The federal investigation found that from approximately June 2022 to March 2025, the egg producers secretly communicated with each other to coordinate their bidding activity and influence the daily egg price quotes published by Urner Barry, a benchmark pricing service widely used in egg supply contracts.
For example, in December 2022, Hickman’s chief executive officer emailed Versova and Cal-Maine executives urging them to submit “strong bids, early and often” to push prices higher, according to James. All three companies then submitted dozens of bids at higher prices, which led to Urner Barry increasing its price quotes. By manipulating the Urner Barry benchmark, the companies artificially inflated the price of eggs paid by retailers and consumers across the nation.
“When powerful corporations collude behind the scenes to raise prices, working families suffer the costs,” James said in a statement. “These egg producers manipulated the market to squeeze even more profit out of consumers and businesses. By shutting this scheme down and delivering millions of eggs to those in need, we’re sending a clear message that companies will not get away with illegal price hikes in New York.”
Under the settlement, all three companies must end their illegal coordination to manipulate prices, adopt compliance measures to prevent future violations, and fully cooperate with oversight by the states. The companies must designate antitrust compliance officers who will monitor for violations of the settlement and report violations to the states and DOJ.
Joining Attorney General James and DOJ in securing this settlement are the attorneys general of Arizona, California, Colorado, Connecticut, Florida, Hawaii, Iowa, Maryland, Minnesota, North Carolina, Ohio, Pennsylvania, Texas, Utah, Vermont and Wisconsin.
