Recent oversupply from rapid layer flock recovery after 2025 avian influenza losses has driven U.S. retail egg prices to multi-year lows, with the BLS city-average price holding at $2.27 per dozen in September 2026, unchanged from August and down sharply year over year. Wholesale benchmarks near 40 cents per dozen underscore the supply glut, while trader-implied odds cluster in the $2.10–$2.30 range as markets price modest near-term stability amid ample inventories. Key swing factors include potential 8% feed-cost increases from higher corn and soybean meal prices, seasonal holiday demand, and any fresh HPAI developments that could tighten supply before October data finalize. This distribution highlights uncertainty around exact monthly averages versus historical base rates.