Egg producers to pay $3.3M, donate 53M eggs as part of price-fixing settlement
Twin Cities businesses face high egg prices
As the price of eggs continues to rise, some businesses might have to pass that cost onto the consumer. FOX 9's Leon Purvis has the full story.
(FOX 9) - Three of the country’s biggest egg producers have agreed to pay millions and donate millions more in eggs after being accused of working together to drive up prices.
Egg producers accused of manipulating prices
What we know:
According to a complaint filed by the Department of Justice (DOJ) and 17 states, Cal-Maine Foods, Versova and Hickman’s Egg Ranch coordinated their bidding to influence a key industry price index, causing higher prices for eggs across the country.
The complaint alleges the companies worked together to submit high bids to Urner Barry Publications, which sets an index used by grocery stores and restaurants to determine egg prices.
The alleged scheme led to higher prices for consumers, with average U.S. egg prices hitting a record $6.23 per dozen in March 2025.
Dig deeper:
According to the complaint, in one example, from December 2022, Hickman’s CEO emailed the others to submit "strong bids, early and often" to push prices up.
The settlement requires Cal-Maine, Versova and Hickman’s to pay a combined $3.3 million and donate 53 million eggs to food banks and nonprofits.
The money will be distributed to the states involved, while the eggs will go to local nonprofits for redistribution to communities.
As part of the settlement terms, the companies did not admit any wrongdoing.
What they're saying:
"Corporations should be competing against one another for your business, not colluding with one another to keep prices high," Minnesota Attorney General Keith Ellison said in a statement following the settlement announcement. "I will continue doing everything in my power to fight back against price manipulation and keep costs fair for Minnesotans."
Meanwhile, the DOJ released a statement saying in part that the settlements, "resolve years of conduct that dragged on Americans’ finances and their everyday lives."
Big picture view:
The settlement contrasts the narrative perpetuated by egg producers that blamed the spike in prices on a bird flu epidemic.
Cal-Maine, the only public company among the three, reported a profit of $1.22 billion for the 2025 fiscal year.
What's next:
Under the settlement, Cal-Maine will pay $1.5 million and donate 30 million eggs.
Versova will provide 20 million eggs and $800,000, while Hickman’s will give 3.25 million eggs and $1 million.
The Source: Information provided by the Department of Justice and Minnesota Attorney General's Office.