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National & World Ag News Headlines |
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AFBF: Price of July 4 Cookout is Less This Summer
USAgNet - 06/27/2017
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. The group'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."
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.
Commenting on watermelon prices, Newton said, "Although U.S. farmers continue to increase watermelon production, consumer demand has also increased, contributing to higher retail prices."
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