Australian Egg Corporation hits the panic button - 5 million dozen eggs in storage

This is from the latest newsletter of the Australian Egg Corporation and it demonstrates what a spin they are in.
Egg Corp layer and egg supply forecastThe forecast report for January has been distributed by AECL to all egg producer subscribers to the service. It paints a daunting picture of record and increasing egg supplies to the market given the chicks that have already been placed and those now on order. Production is now projected to reach 34 million dozen in July this year. It says that action is needed by all egg producers to control the oversupply or surplus. The best indicator is your coolroom and the increasing stocks in inventory. The inventory report suggests that inventory levels are now at record volumes, in excess of 5 million dozen.
Given the significant and now record levels of egg production and egg inventory, AECL has requested a meeting of the top 25 egg producers to seek a ‘path forward’ for the egg industry in a co-ordinated and consolidated fashion to ensure its profitable sustainability, a key part of the egg industry’s vision. All other egg producers are welcome to join the meeting that will take place in Sydney during early February.
The huge volumes of surplus eggs demonstrate why there is such pressure to allow intensively produced eggs to be labelled as 'free range'. There is now a real dilemma amongst the big producers as they all thought the new slack standards would be through now to get them out of trouble.