Egg prices went up far more than bird flu can explain, and the profits went to a handful of big producers instead of farmers or shoppers.

• Egg prices tripled while the flock losses from bird flu were only about 6-7%.
• Cal-Maine, the biggest US egg producer, saw profits jump tenfold, earning more in one quarter than in the whole prior year.
• A USDA economist flagged that prices were far above what the facts justified and expected competitors to step in and push them down.
• Months later no one had, because four grocery chains and four big producers control the market so tightly that new sellers can't get in.
• The same setup lets those companies charge shoppers more while paying farmers less.

Outlook: Without more competition or antitrust action, food prices are likely to stay high whenever a supply scare gives producers cover to raise them.