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gofatwya t1_jcxrz9j wrote

"Egg prices have surged, fueled by short supply caused by the deadly avian flu, high production costs and egg producers increasing their own profits "

Dicks.

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wascilly_wabbit t1_jcxtznu wrote

> Dicks

That's not where eggs come from

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GetlostMaps t1_jcy5zrm wrote

Ducks

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gofatwya t1_jcywgut wrote

Have you seen the price of duck eggs?

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Burninator05 t1_jcxuok1 wrote

Cloacas.

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shruggedbeware t1_jd256r6 wrote

Oh, sure, let me just spend like 15 minutes trying to break some snake eggs over a counter

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DigitalDeath12 t1_jcxyacx wrote

Not for those with chickens at home! The rest of us have to get our eggs from dicks who jack the prices up for profit.

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SilasX t1_jcy6i66 wrote

I don't like appealing to "want to increase profits" as an explanation for price increases. They are always wanting to increase their profits, so it doesn't help explain any particular price surge.

Generally what stops arbitrary price increases is the fact that it draws competitors into the market. So if you see them succeeding in increasing profits, it's because said competitors can't or won't, and if they can't, then that's rightly called a legit supply shock.

Now, if there were actual cartel schemes to hold supply down (the "won't" branch), that would be a valid explanation for malevolent price increases, but even then, that mechanism should be what you're appealing to, not "lol greed".

Edit: Economically ignorant people in this thread, don't bother.

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RSomnambulist t1_jcy84l5 wrote

This hasn't been true since the pandemic. The supply crunches have been used to obfuscate margin increases as a test to see what the market will allow before they react. We've proven that we'll keep buying and throw nearly all the blame at inflation and supply chain regardless of it often being the smallest part of a particular items inflation. This is true of most food stuffs increases to prices.

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SilasX t1_jcy8o4i wrote

Like I said, that doesn't work generally because of competition. If you have actual concrete evidence of cartelization, then you can cite the evidence of that.

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RSomnambulist t1_jcy93by wrote

Cargill and Tyson for one. Both companies are keeping chicken prices artificially high and reaping huge margins.

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SilasX t1_jcy97t6 wrote

That's not evidence of cartelization. Again, what changed so that they couldn't or wouldn't do this in 2018, or 2009, or ...?

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[deleted] t1_jcyqzfn wrote

[deleted]

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SilasX t1_jcyr8rs wrote

That's the same thread, and didn't answer the question there either.

Edit: lol blocked for applying basic economics. You guys sure are thin-skinned.

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[deleted] t1_jcyrf8u wrote

[deleted]

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SilasX t1_jcyrrta wrote

What changed in terms of cartelization. "The pandemic is what changed" is consistent with the (more probable) supply shock explanation. Again, why not do it in e.g. 2009 when they could have "obfuscated" it with swine flu?

Again, they're always greedy. Why isn't competition restraining it this time?

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gofatwya t1_jcyw4i0 wrote

Not everyone who disagrees with you is ignorant.

They just have different opinions, buddy.

Get over yourself.

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Rosebunse t1_jcysd7t wrote

If supply problems are a thing, stores just don't get the product.

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SilasX t1_jcysmh3 wrote

Okay thanks for confirming you don't know what you're talking about -- would have saved time to say something like that before though.

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Rosebunse t1_jcyu8yy wrote

Dude, we know it is mostly the profit margins at this point

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420everytime t1_jczcec2 wrote

Supply and demand means that when when supply goes down you need to lower demand some way to stay in stock.

Most places raise prices to stay in stock. My local Lidl has eggs for like $2.70, but they limit 4 dozen per customer to lower demand

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gofatwya t1_jczcobi wrote

That seems a better way than simply jacking up your prices and reaping the windfall profit.

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metametapraxis t1_jd217f1 wrote

They aren't doing it to be nice. They are doing it so they continue to have people come in for eggs (with some confidence of supply) and then stay to buy other stuff as well.

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Ottawa_man t1_jd0dp4l wrote

Why did the production costs increase ?

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gofatwya t1_jd0frrg wrote

The price of feed, rising wages, all kinds of overhead I'm sure; including the price of egg cartons.

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Inconceivable-2020 t1_jd4p3rd wrote

Except that there really have not been that many reported Avian Flu culls. It's pretty much all price gouging. In fact in my town we have two regional grocery store chains, one has been lowering prices steadily and the other refuses. The same Dozen Jumbo Eggs are $4.49 at one and $7.49 at the other. A year ago they were $2.99

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[deleted] t1_jcy6d39 wrote

[deleted]

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caffelightning t1_jczjkyx wrote

>Your friendly reminder that publicly traded companies are legally required to pursue profits at the expense of consumer experiences

*Citation Needed

I'll save you the time: no they are not.

I'll go a step further and provide a citation from a supreme court ruling:
https://caselaw.findlaw.com/us-supreme-court/13-354.html

BURWELL, SECRETARY OF HEALTH AND HUMAN SERVICES, ET AL. v. HOBBY LOBBY STORES, INC., ET AL.(2014)
No. 13-354

>Modern corporate law does not require for-profit corporations to pursue profit at the expense of everything else, and many do not.

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