We heard a lot about eggs in early 2025. The average price per dozen reached an all-time high of $8 last February, up from a historical level of around $1. This was attributed to the greed of Big Egg, the failures of the Trump administration, and California’s regulatory policies — among other sinister explanations.

Actually, it was simple supply and demand. Egg producers were wracked in late 2024 and early 2025 by a terrible strain of avian flu, affecting 68 million egg-laying hens out of a total supply of 375 million. That represented an 11 percent decline in a very........

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