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Farm Bureau survey indicates lower prices for Fourth of July cookout  

Lower prices for meat, milk, buns and watermelon led to a decrease in the American Farm Bureau Federation’s summer cookout survey.

John Newton, AFBF’s director of market intelligence, says the informal survey shows the cost of 14 food items common in a Fourth of July cookout was about $55, down less than 1 percent from last year.

He says record production and competition in the meat case led to lower retail prices for beef and pork. Ground round was lower at $8.40 and pork spare ribs were $11.96.

“We’ve had some new plants open so processing capacity has increased, putting more on those grocery shelves,” he says. “Proteins like pork, beef, and chicken are all competing for a limited space on the consumer’s plate.”

Newton tells Brownfield the price of milk was also lower at $2.38.

“Production in 2018 is going to be record high,” he says. “We’ve also seen declining sales of fluid milk, that combined with lower prices and retailers use it as a way to drive foot traffic into the store.

Other items on the list that were higher were hot dogs, deli potato salad, and American cheese.

About 96 shoppers in 28 states participated in the survey. AFBF conducts quarterly surveys of retail food prices.

Audio: John Newton, American Farm Bureau Federation