Cal-Maine Foods Reports Another Quarterly Loss on Low Egg Prices
Cal-Maine Foods reported another quarterly loss, citing an oversupply of eggs that has driven down wholesale prices. Wholesale egg prices fell nearly 60% in September.
Cal-Maine Foods said it is dealing with an egg glut that has weighed on wholesale prices. Chief Executive Sherman Miller said on a call with analysts Wednesday that oversupply has pressured the market. Government data showed wholesale egg prices fell nearly 60% in September.