Are Things Looking Up for Cal-Maine?

Egg prices, the be-all and end-all for Cal-Maine Foods (NASDAQ: CALM), are still under pressure. As a result, the big egg producer's stock hasn't been able to churn out any gains for investors this year. The company reported fiscal first-quarter sales up 9.6% on Monday, but the stock was up only about 1% by 3:30 p.m. Let's take a look at what's going on with Cal-Maine.

Egg prices have been struggling since 2016. The 2015 avian flu wreaked havoc on the national hen flock, reducing supply of eggs and causing the value of eggs to spike. As the hen population recovered, though, the resulting younger flock was more productive than before. Prices reversed course, and Cal-Maine shares followed suit.