Egg prices finally falling

Egg prices that rocketed to record highs after one the worst bird flu outbreaks in U.S. history are now falling – fast – as the industry replaces dead hens.

Midwest large eggs, the benchmark for commodity price, closed at $2.16 a dozen on Friday, down about 37% from late July’s record high, according to commodity researcher Urner Barry.

That’ll provide relief for consumers, who saw egg prices jump 47% at U.S. grocery stores last month during the worst period of food inflation since 1979.

Retail rates generally follow commodity prices, so consumers should see a “significant” drop by more than a dollar per dozen in the next 30 days, said John Brunnquell, chief executive officer of Egg Innovations, one of the biggest U.S. producers of free-range eggs.

Farms are repopulating birds that they had to kill during this year’s highly pathogenic avian influenza outbreak, Brunnquell said in a phone interview.

HBO cutting 70 employees

Warner Bros. Discovery is firing about 70 workers who work at HBO and HBO Max, the latest round of cutbacks after its parent company merged with Discovery.

The cuts affect 14% of the staff under HBO Chief Content Officer Casey Bloys and fall heavily on a group that makes live-action programs for kids and families, an area the company is now de-emphasizing.

Bloys is also consolidating the HBO and HBO Max comedy development teams into one group, the company said Monday.

Warner Bros. Discovery, formed in April through the combination of Discovery and AT&T’s WarnerMedia division, has been cutting costs to reduce the debt needed to finance the deal.

From wire reports