Cage-Free Premium Narrows to 0.8 Cents at 55.8-Cent Benchmark

The large white national benchmark held at 55.8 cents a dozen this week, per USDA, sustaining last week's recovery from 29.7 cents. APHIS confirmed HPAI on July 6 in Utah, a 1.2 million-bird commercial layer flock depopulated, removing that volume from supply. National shell egg inventory stood at 1,424 thousand cases as of July 13, 1.8% below its trailing four-week average.

• Extra large white national loose at 59.4 cents a dozen (USDA), up 62.8% on the week from 36.5 cents.
• Cage-free premium at 0.8 cents a dozen. USDA national large white cage-free loose is at 56.6 cents vs 55.8 cents conventional, a 1% differential. A supply shock that lifts conventional faster than cage-free compresses the structural premium.
• Northwest conventional inventory at 55.6 thousand cases, 25% below its five-year median, the widest below-normal read in this week's report. The region gained 8% week over week but the deficit vs the historical median persists.
• Northeast conventional inventory at 202 thousand cases, 20% above its five-year median, moving in the opposite direction from the Northwest.
• New York large white delivered store door at 98.0 cents a dozen, up 34.2% on the week from 73.0 cents (USDA).
• Midwest large white paid to producers (FOB) at 47.0 cents a dozen, up 42.4% on the week from 33.0 cents (USDA).

Retail feature activity: 305 stores advertised national large white 12-count at $0.93 the week of July 6, per USDA.

Data note: 56 series including California market prices have not updated in more than two weeks. California cage-free figures in this week's mover rankings should be treated as stale until USDA resumes publication.