The expenses associated with hosting a cookout for Independence Day have remained significantly higher compared to two years ago, although there has been a marginal decrease from last year's record highs. As per the American Farm Bureau Federation's 2023 market basket survey, families can anticipate spending approximately $67.73 for a cookout serving ten people.
While the current grocery bill reflects a 3% decline from 2022, it remains roughly 14% higher than prices observed two years ago. Cookout staples like cheeseburgers, chicken breasts, pork chops, homemade potato salad, strawberries, and ice cream contribute to the overall cost.
Despite the slight reduction in expenses, the persistent price increases in recent years continue to impact families. Factors such as high inflation and other market dynamics keep prices elevated, posing challenges for households. It is important to recognize that farmers, as price takers rather than makers, face their own set of challenges, with a limited share of the retail food dollar.
The market basket survey highlights both year-on-year price increases for certain items, including hamburger buns, beef, and potato salad, as well as decreases in the cost of chicken breasts, lemonade, and cookies. Various factors, such as drought conditions affecting feed costs and cattle availability, adverse weather impacting potato production, and overall inflation influencing processed food prices, contribute to these fluctuations.
While the cost of the cookout remains historically high, it breaks down to less than $7 per person. In a global perspective, Americans allocate a smaller portion of their income to food compared to other countries.
AFBF President emphasizes the significance of farm bill programs in ensuring a secure and affordable food supply. Encouraging Congress to acknowledge these contributions, Duvall underscores the importance of maintaining food security and independence for the nation.
Source : wisconsinagconnection