1127 ET - The egg market is oversupplied, putting downward pressure on wholesale prices, Cal-Maine CEO Sherman Miller says. "The key question is the timing of rebalancing," he says on a call with analysts. No one can be sure of that timeline, Miller says, but there are some early indicators worth watching. He says the number of egg-laying hens in the U.S. and the number of chick hatchings are both decreasing, citing recent data from the American Egg Board. "These indicators do not establish that the market will turn, but they provide important context on the potential direction of supply," Miller says. Cal-Maine shares fall 4.1% after the company swings to a loss in the latest quarter.