It’s All About the Eggs

Joe Rulison, CEO

You could say that the price of eggs in 2024 determined the outcome of last November’s election.  If you want to better understand the disconnect that has existed between Main Street, Wall Street, and the Fed, simply consider the price of eggs. 

In early 2024, I attended an event at which I met a man whose farm produced over 300,000 eggs annually, distributing them throughout Upstate New York. He spoke about the cost of labor, insurance, and the feed necessary to raise his chickens.  This was compounded by the effect of a serious bird flu outbreak, which reduced the number of chickens that could produce eggs. He foresaw the price of eggs would likely increase more than 40% year over year—and that this higher cost would be passed on to consumers. 

The farmer told me that he sees inflation well before it shows up on store shelves. Pointing his finger at me, he said the November election’s outcome would be determined by the price of fresh eggs. He said the folks on Main Street feel the pain, rather than the pols in Washington, when they must prioritize their supermarket decision-making. Will it be a dozen eggs today or other grocery necessities? 

The farmer was spot on with the price of eggs, well before anyone else, as egg prices did soar over 40% in 2024. He was also right about the shifting direction of the political winds in Washington. 

So, when you reach for your next carton of eggs, its price should be a good gauge of Main Street’s thinking—and those on Wall Street and in Washington had better take notice. The public always has the final say.