01 July 2026
A civil antitrust lawsuit, jointly filed in the U.S. District Court for the Northern District of Iowa by the Department of Justice (DOJ) and a bipartisan coalition of 17 state attorneys general, accuses Cal-Maine Foods, Versova, and Hickman's Egg Ranch of conspiring to manipulate wholesale egg prices.
According to federal investigators, the companies secretly coordinated their bidding activities between June 2022 and March 2025. They allegedly flooded the spot market with numerous artificially high bids to create the false appearance of surging demand. This coordinated conduct directly influenced the daily price index published by market reporting agency Urner Barry. Because contracts covering billions of eggs nationwide are directly linked to this benchmark, the artificial inflation of wholesale prices was rapidly passed on to supermarkets, commercial food service operators, and consumers.
The alleged collusion coincided with a period of severe market disruption, during which unprecedented outbreaks of avian influenza led to the culling of millions of laying hens. Although the industry publicly attributed soaring prices to supply shortages, with retail prices peaking at a record average of more than $6.20 per dozen in early 2025, antitrust investigators identified a striking anomaly: wholesale prices declined sharply in March 2025, immediately after federal authorities issued preservation orders requiring the companies to retain corporate communications relevant to the investigation. By mid-2026, average prices had fallen to approximately $2.19 per dozen.
Under the terms of the proposed settlement, which remains subject to final judicial approval, the companies will pay a total of $3.3 million in civil penalties. More significantly, they will provide 53 million eggs to food pantries and community charities to help households affected by inflation.
