Stock Track | Cal-Maine Soars on Surging Egg Prices Amid Supply Crunch

Stock Track2024-10-04

Shares of Cal-Maine Foods (CALM), the largest egg producer in the United States, experienced a significant pre-market surge of 7.01% on Thursday, October 4th, 2024. This rally was driven by the company's strong financial performance, fueled by soaring egg prices amid a nationwide supply crunch.

According to Cal-Maine's latest quarterly report, while the company missed earnings expectations for the first quarter of fiscal 2025, its revenue skyrocketed by an impressive 71% compared to the same period last year. This remarkable growth was attributed to the elevated egg prices resulting from a bird flu outbreak that decimated egg supplies across the country.

The avian influenza epidemic has been a significant challenge for egg producers like Cal-Maine, as it has led to the culling of millions of birds. However, the resulting supply shortage has also created favorable pricing conditions for the remaining producers, allowing them to capitalize on increased consumer demand.

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