Chicken & Eggs
With egg prices yet to yield and consumers increasingly priced out, some have taken to playing chicken – literally.
The popularity of owning chickens is on the rise. The idea of having fresh, free-range eggs in your own backyard had appeal even before inflation hit, according to Tractor Supply Co (TSCO), a company that sells chicks.
Thanks to “eggflation”, the trend is gathering momentum. Tractor Supply Co has seen chick sales more than double since 2018, and anticipates selling about 11 million more in 2023. These buyers likely see owning chickens as a way to mitigate the soaring cost of eggs.
Soaring Egg Prices
Affordable eggs were chickens one day, feathers the next.
Egg prices got hit with a double-whammy last year, given broad-based inflation’s outsized impact on grocery prices, coupled with a surprise supply shock: bird flu. The avian flu resulted in the death of over 58 million farm birds since January 2022, sending the supply of eggs plummeting and prices soaring by around 70% over the trailing year.
Count Your Chickens
Experts warn maintaining a backyard coop without proper planning can leave you running around with your head cut off. But if it sounds like the ideal solution to you, don’t chicken out. Here are some tips on how to have the best hen house on the block.
• Avoid roosters. Cock-a-doodle-doos don’t just pose a problem for you and neighbors, but potentially for local ordinances, too. It can be difficult to determine the sex of a chick, so you may need to find a new home for a rooster if it slips into your hen house.
• Protect your flock. Adequate housing is necessary to keep your investment safe from predators. But this in and of itself is an investment. The cost can run from hundreds to thousands of dollars.
• Vet fees aren’t chicken feed. Budget generously for bird food and veterinary care.
• Be patient. Chicks may not lay eggs for up to six months. And even then, they will likely only produce for a few years.
• Be certain. Owning chickens is a big decision, and a tricky one to go back on. Should you change your mind, farm rescues may turn away adoptees due to bird flu concerns.
With proper planning, you can avoid unpleasant surprises, not to mention prices.
Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.