Key facts
- The U.S. Justice Department and 17 states settled with three egg producers for $3.3 million and 53 million eggs.
- Cal-Maine Foods, Versova, and Hickman's Egg Ranch are accused of illegally colluding to inflate egg prices.
- The companies coordinated bids for a key egg price index, leading to higher consumer prices.
- None of the companies admitted wrongdoing.
- Settlements require companies to implement antitrust compliance programs.
The U.S. Justice Department and 17 states have reached settlement agreements with three major egg producers—Cal-Maine Foods, Versova, and Hickman’s Egg Ranch—to resolve allegations of illegal price manipulation. The companies are accused of colluding for years to artificially inflate egg prices, particularly between June 2022 and March 2025, when prices reached record highs. The investigation found they coordinated bids for Urner Barry Publications' egg price index, which directly impacts what grocery stores and restaurants pay.
Under the terms of the settlements, which require court approval, the companies will collectively pay $3.3 million and donate 53 million eggs to food banks and nonprofits. Cal-Maine Foods will contribute $1.5 million and 30 million eggs, Versova will provide $800,000 and 20 million eggs, and Hickman’s Egg Ranch will pay $1 million and 3.25 million eggs. None of the companies admitted wrongdoing.
In addition to the financial and egg donations, the producers must implement antitrust compliance programs and refrain from communicating with competitors about pricing and bidding strategies. New York Attorney General Letitia James stated that the collusion squeezed profits from consumers and businesses. Critics, however, argue the settlements are insufficient, with Farm Action president Angela Huffman calling them a cost of doing business rather than meaningful accountability, especially given Cal-Maine Foods' $1.22 billion profit for its 2025 fiscal year.
Cal-Maine Foods maintained that the allegations were baseless and that its conduct has been legal, noting it left a cooperative with the other producers in May 2024. Versova emphasized that its egg prices are largely dependent on grain feed costs, not wholesale price setting. Hickman's owner Mantiqueira USA stated that the alleged conduct predated its acquisition of the producer.
The complaint noted that price quotations dropped significantly after the companies became aware of the Justice Department's investigation in March 2025, and consumer egg prices later fell substantially.