WASHINGTON, June 26, 2017 /PRNewswire-USNewswire/ — A cookout of Americans’ favorite foods for the Fourth of July, including hot dogs, cheeseburgers, pork spare ribs, potato salad, baked beans, lemonade and chocolate milk, will cost slightly less this year, coming in at less than $6 per person, says the American Farm Bureau Federation.
Farm Bureau’s informal survey reveals the average cost of a summer cookout for 10 people is $55.70, or $5.57 per person. The cost for the cookout is down slightly (less than 1 percent) from last year.
“As expected, higher production has pushed retail meat prices down,” said AFBF Director of Market Intelligence Dr. John Newton.
Competition in the meat case is making grilling for July 4th even more affordable for consumers this year, Newton noted.
“Retail pork prices also declined in 2017, largely due to more pork on the market and ample supplies of other animal proteins available for domestic consumption. Lower beef prices are most likely putting downward pressure on pork prices,” he said.
AFBF’s summer cookout menu for 10 people consists of hot dogs and buns, cheeseburgers and buns, pork spare ribs, deli potato salad, baked beans, corn chips, lemonade, chocolate milk, ketchup, mustard and watermelon for dessert.
With regard to drivers behind the moderate decrease in dairy prices, Newton said, “We continue to see stability in dairy prices because of the improving export market. Chocolate milk will be a little more affordable this July 4th, in part because some retailers are promoting it as a sports recovery drink superior to other sports drinks and water.
He also noted the retail price of American cheese has declined due to very large inventories and a lot of competition in the cheese case.
Newton said retail dairy and meat prices included in the survey are consistent with recent trends and are expected to continue to be stable. The year-to-year direction of the marketbasket survey tracks closely with the federal government’s Consumer Price Index report for food at home.
A total of 97 Farm Bureau members in 25 states served as volunteer shoppers to check retail prices.
Learn more at http://bit.ly/2u9u13L.
SOURCE American Farm Bureau Federation
