For millions of Americans, eggs became one of the clearest symbols of the inflation crunch as grocery prices surged and household budgets tightened.
Now, federal and state officials say some of the country's biggest egg producers may have made that pain worse by manipulating prices.
Three companies, Cal-Maine Foods, Hickman's Egg Ranch, and Versova agreed to pay a combined $3.3 million to resolve allegations that they "artificially increased" egg prices for consumers and retailers, as CNBC reported.
Investigators said that from June 2022 through March 2025, the companies coordinated to influence Urner Barry's daily egg price quotes, a benchmark widely used in egg supply contracts.
In a news release, New York Attorney General Letitia James said the producers "secretly communicated" to sway that pricing index in what was described as an "illegal scheme to manipulate egg prices."
As part of the settlement, the companies were to provide 53 million eggs to food banks and similar nonprofits. Using a retail average of roughly $2.19 for a dozen large Grade A eggs, CNBC reported that the donation's value was $9.7 million.
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A federal judge still must approve the proposed settlement. If that happens, Cal-Maine would pay $1.5 million, Hickman's $1 million, and Versova $800,000.
A devastating bird flu outbreak was blamed for cutting egg supplies and raising prices, and these companies pointed to that same explanation in their defense.
Cal-Maine and Versova denied wrongdoing, while Hickman's parent company Mantiqueira USA said the alleged conduct preceded its acquisition of the company, CNBC reported.
"When powerful corporations collude behind the scenes to raise prices, working families suffer the costs," James said. "These egg producers manipulated the market to squeeze even more profit out of consumers and businesses."
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