Benchmark Jumps to 62.7 Cents, Up 59% on the Week

The national large white benchmark hit 62.7 cents a dozen, up 59.3% week over week from 39.4 cents, per USDA. USDA's Nov 6 Egg Markets Overview attributed the firming to moderate to good retail interest and light to moderate loose egg interest, with holiday baking demand building heading into Thanksgiving. Three APHIS-confirmed HPAI detections in the past 30 days have drawn down layer supply in California, Illinois and Oregon.

• Extra large white conventional loose reached 55.9 cents/doz, up 35.5% week over week from 41.3 cents, tracking the broad conventional move.
• National cage-free large white loose rose to 60.0 cents/doz, up 24.9% from 48.0 cents a week ago, landing 2.7 cents below conventional (62.7 cents) for a -4% spread rather than the usual premium, per USDA.
• California-market cage-free large white loose climbed to 88.0 cents/doz, up 27.4% from 69.1 cents, following APHIS's confirmation of a 1.3 million-bird layer flock infection in California (Oct 28), the largest HPAI detection in the past 30 days.
• New York large white delivered store door reached 96.0 cents/doz, up 24.7% from 77.0 cents, with extra large at 98.0 cents, up 24.1% from 79.0 cents.
• Nest run tier 2 national cage-free loose doubled to 20.0 cents/doz from 10.0 cents a week ago.
• APHIS also confirmed 934,600 birds infected in Illinois (Oct 19) and 94,200 birds in Oregon (Nov 4).

National shell egg inventory stood at 1,645 thousand cases as of Nov 9, per USDA, 3.3% above its trailing four-week average. The Northwest is the regional tight spot. Conventional stocks there at 58.2 thousand cases run 9% below the five-year median. Midwest conventional inventory stands at 622 thousand cases, 20% above its five-year median. South Central is at 321 thousand cases, 15% above.