Money Stuff: The Podcast · Friday, July 10, 2026
The Justice Department and several state attorneys general have sued major egg producers for allegedly manipulating egg prices through a practice referred to as 'egg Libor'. Producers are accused of artificially inflating prices by submitting fake bids to an egg pricing service, which then influenced wholesale contract prices. The companies have settled, agreeing to pay the equivalent of 50 million eggs, which will be distributed to food banks. This settlement occurred despite the backdrop of bird flu, which already drove up egg prices.
“The Justice department in several states sued a bunch of egg producers for manipulating the price of eggs, and they settled has to be for eggs.”
“So I feel bad it's calling it libor because like libor was essentially a number that was self reported. The standards setter would call banks and say, hey, what price are you borring at? And they just make up a number what I've been calling egg libor, which is actually the Erner Barry and Express. It's now called it Expana.”
“But the egg producers are like, well, you know, if the price on the egg clearing house is high, that'll make the price on all of our contracts high, so we can overpay in the clearing house market to raise the price on all of our wholesale contracts that price buy reference to the earner barry price.”
“The New York press release was like a little ambiguous. It was like, the New York Attorney General has secured fifty million eggs, and five million of those eggs will go to New York frud banks.”