Are the Birds to Blame?

Egg prices have skyrocketed. Is there another force at work besides the Avian flu? Read this analysis from Elliott Wave International’s Global Rates & Money Flows that you likely won’t find in the mainstream media:

Commodity indices have a bullish tilt to them from a higher-degree Elliott wave perspective and so we fully expect another bout of food price inflation to come through in the coming years (something which ties in with our outlook for higher bond yields). Right now, there is a panic about the price of eggs.

Egg prices have skyrocketed in recent months. In September 2023 a dozen eggs would have cost you just over $1 in the U.S. Now it will cost you over $7. What the (s)hell is going on? Avian flu outbreaks are the most common rationalization for the price increase but there’s also an underlying sentiment that food prices in general have entered a more inflationary era.

The chart below shows that egg prices fluctuate in quite a rhythmical manner and so we fully expect prices to decline again at some point. In the meantime, enjoy those expensive omelettes:

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