Concurrent collections eating too much cpu without Thread.Sleep

What would be the correct usage of either, BlockingCollection or ConcurrentQueue so you can freely dequeue items without burning out half or more of your CPU using a thread ?

I was running some tests using 2 threads and unless I had a Thread.Sleep of at least 50~100ms it would always hit at least 50% of my CPU.

Here is a fictional example:

private void _DequeueItem()
{
    object o = null;
    while(socket.Connected)
    {
        while (!listOfQueueItems.IsEmpty)
        {
            if (listOfQueueItems.TryDequeue(out o))
            {
                // use the data
            }
        }
    }
}

With the above example I would have to set a thread.sleep so the cpu doesnt blow up.

Note: I have also tried it without the while for IsEmpty check, result was the same.