Prices paid to livestock and dairy farmers have been dismal this year and consumers are beginning to see the effect in the form of lower prices for meat and dairy products.
Kentucky Farm Bureau Federation’s quarterly survey of food prices throughout the state shows a dramatic decline in the price of dairy and beef products over the past three months, with smaller cuts in the cost for pork and poultry. Overall, the total cost for the 40 basic grocery items was down a whopping 17.9 percent from April, at a total cost of $102.26.
The July survey shows the average price for a gallon of milk at $2.86, which is 21 cents below the April average. Other reductions in the dairy case include a 59-cent drop for a gallon of ice cream and a 53-cent cut for a 24-slice package of American cheese. All told, the average cost for the six dairy products on the list fell by 12.7 percent.
Meanwhile, the average on the five beef products declined by 9.5 percent. The biggest dip was for rib-eye steak, which plunged from $9.95 per pound in April to $8.57. A pound of ground beef fell by 31 cents on average.
As is typical for the summer months, the price of fruits and vegetables was lower. The cost for a pound of red delicious apples rose by 16 cents, but corn, potatoes, cucumbers, lettuce, peppers and tomatoes were cheaper. The overall average among the produce items was down 8.7 percent from April. Among the 40 items in the survey, only nine were prices higher in July than in April.
Kentucky Farm Bureau Federation has conducted the survey for four decades as a tool to reflect retail food pricing trends and their relationship to what farmers receive for their raw commodities. On average, the farmers’ share of the retail food dollar is around 19 cents.
Prices paid to livestock and dairy farmers have been dismal this year and consumers are beginning to see the effect in the form of lower prices for meat and dairy products.
Kentucky Farm Bureau Federation’s quarterly survey of food prices throughout the state shows a dramatic decline in the price of dairy and beef products over the past three months, with smaller cuts in the cost for pork and poultry. Overall, the total cost for the 40 basic grocery items was down a whopping 17.9 percent from April, at a total cost of $102.26.
The July survey shows the average price for a gallon of milk at $2.86, which is 21 cents below the April average. Other reductions in the dairy case include a 59-cent drop for a gallon of ice cream and a 53-cent cut for a 24-slice package of American cheese. All told, the average cost for the six dairy products on the list fell by 12.7 percent.
Meanwhile, the average on the five beef products declined by 9.5 percent. The biggest dip was for rib-eye steak, which plunged from $9.95 per pound in April to $8.57. A pound of ground beef fell by 31 cents on average.
As is typical for the summer months, the price of fruits and vegetables was lower. The cost for a pound of red delicious apples rose by 16 cents, but corn, potatoes, cucumbers, lettuce, peppers and tomatoes were cheaper. The overall average among the produce items was down 8.7 percent from April. Among the 40 items in the survey, only nine were prices higher in July than in April.
Kentucky Farm Bureau Federation has conducted the survey for four decades as a tool to reflect retail food pricing trends and their relationship to what farmers receive for their raw commodities. On average, the farmers’ share of the retail food dollar is around 19 cents.
