Investor Presentaiton
Eggs have enjoyed secular tailwinds in the U.S.
A Universal Protein
•
•
97% of U.S. households purchase eggs
(1)
•
•
Designated as 'healthy food' under new
proposed FDA definition (2)
Ranked as one of the most economical high-
quality proteins
Consumption Growth Over Time (3)
•
The last decade has seen supply and demand grow relatively
consistently, tracking together
Demand has shown consistent growth, with little long-term impact
seen from the 2022 HPAI outbreak compared to 2015
Market Dynamics
U.S. Year-end layers (millions)
(4)
-Consumption per capita
EM
Cal-Maine Foods
342 340
330
322
327
325
310
315
317
320
311
301
Both layer count and
consumption per capita in the
US have been driven by supply,
293
282 284
286
287
283 279 281
demand, cyclical market
recovery, and most recently,
market volatility around HPAI.
268
272
259
256
CAL-MAINE FOODS | INVESTOR PRESENTATION | JANUARY 2024
2013 2014
2015
2016 2017
2018
2019
2020
2021
2022 2023 2024e
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