Egg producers settle DOJ case, deliver 53 million eggs

Three of the nation's largest egg producers have reached a settlement with the U.S. Department of Justice and 17 states to resolve allegations they conspired to artificially inflate egg prices for nearly three years. The proposed agreement, which requires court approval, would see Cal-Maine Foods, Hickman’s Egg Ranch, and Versova provide 53 million eggs to food banks and pay a combined $3.3 million to the participating states.

The civil antitrust lawsuit, filed last week, accused the companies of secretly coordinating from June 2022 through March 2025 to manipulate a key industry price benchmark. According to the complaint, the firms allegedly communicated behind the scenes to influence daily egg price quotations published by Urner Barry Publications, a widely used benchmark for supply contracts. The Justice Department cited internal communications, including a December 2022 email from Hickman’s CEO urging executives at the other companies to submit "strong bids, early and often" to push prices higher. Officials allege the coordinated bidding caused the benchmark to rise, leading to increased costs for retailers and consumers nationwide.

Under the terms of the settlement, the...