Published on April 13, 2026
Key Drivers:
The number of chickens raised to become mature egg layers has increased since 2022, creating a larger pool of replacements.
In 2025, record HPAI losses occurred, but layer inventories were not reduced by nearly as much as in previous outbreaks.
2026 HPAI losses of 15 million, plus a 6 million fire loss, have not reduced layer numbers enough to tighten egg supplies.
Outlook: The USDA projects fresh egg prices will average $1/dz in 2026.
Key Drivers:
March 1 freezer inventories were the lowest since Covid, with February accumulation running at only two-thirds of the normal pace.
Domestic use is strong and exports are at a record pace, keeping demand ahead of large cream supplies.
Butter futures show prices increasing as we move into the spring months.
Outlook: Butter futures show prices increasing to near $2.00/lb by Spring.
Key Drivers:
Cheese production is up over 3%, but frozen inventories dropped to the lowest level since 2019.
Cheese exports are up over 20% and now account for 8% of total production.
Prices have moved back into the $1.45-$1.65 range they traded in during April 2024 and 2025.
Outlook: Cheese futures show prices topping $1.75 this summer as domestic prices move closer to the $2.15 level New Zealand charges for exports.
This comprehensive research empowers you to make informed business decisions. The information contained in this monthly market update is for informational purposes only. It represents our best estimates of commodity market conditions and is subject to change without notice. While we strive to provide accurate information, Gordon Food Service cannot guarantee the completeness or accuracy of the content. Any reliance you place on this information is strictly at your own risk.
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