Planning a Fourth of July gathering? The American Farm Bureau Federation says the price of the cookout is down less than 1% from last year.
Farm Bureau’s informal survey reveals the average cost of a summer cookout for 10 people is $55.07, or $5.51 per person.
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.
“This is a very tough time for farmers and ranchers due to low prices across the board. It is appropriate that this very painful situation hitting farmers be reflected at the retail level as well,” said AFBF Director of Market Intelligence Dr. John Newton.
A total of 96 Farm Bureau members in 28 states served as “volunteer shoppers,” checking retail prices for summer cookout foods at their local grocery stores for this informal survey.
The summer cookout survey is part of the Farm Bureau marketbasket series, which also includes the annual Thanksgiving Dinner Cost Survey and two additional surveys of common food staples Americans use to prepare meals at home.
The year-to-year direction of the marketbasket survey tracks closely with the federal government’s Consumer Price Index report for food at home as both the index and the marketbasket remained relatively flat compared to year-ago levels.
As retail grocery prices have increased gradually over time, the share of the average food dollar that America’s farm and ranch families receive has dropped.
“Through the mid-1970s, farmers received about one-third of consumer food expenditures for food eaten at home and away from home. Today, farmers receive approximately 14.8 cents of every food marketing dollar, according to the Agriculture Department’s revised Food Dollar Series. However, after accounting for the costs of production, U.S. farmers net 7.8 cents per food dollar.” Newton said.
Using the “food at home and away from home” percentage across-the-board, the farmer’s share of this $55.07 marketbasket would be $8.15.