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University of California, Davis economists examined why egg prices are high while dairy prices remain stable as H5N1 spreads through California. California egg production in December 2024 was 30% lower than in January 2022, and California milk output is falling as the virus moves through dairies.
Milk prices have not risen for consumers because of market differences.
Dairy herd losses reduce milk supply locally, but national milk prices are not rising, so the price impact on dairy feed demand is limited. Egg supply losses keep layer feed demand weak.
agriculture.ucdavis.eduStephanie PerlaMar 12, 2025After 22 past neutral disease events, Milk (Class III) moved a median -0.1% over 5 sessions (41% higher; middle half -1.4% to +0.5%), and +0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
