Cathy Isom clues us in on how much we’ll be forking over for our 4th of July cookouts this year.
From: American Farm Bureau
All-American July 4th Cookout Ticks Up, Still Under $6 Per Person
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 more this year but still comes 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 $56.06, or $5.61 per person.
Although the cost for the cookout is up slightly (less than 1 percent), “Prices in the meat case are starting to look better from the consumers’ perspective,” said Veronica Nigh, an AFBF economist. “Retail ground round prices are trending lower,” she noted, pointing to the nation’s cattle inventory and commercial beef production, which continue to rebound from dramatically low levels in 2014 and 2015.
In addition, “On the pork side, commercial production also continues to grow and is at the highest level in 25 years,” Nigh said. Spare rib prices are about the same as a year ago, while the amount of product in cold storage is up 121 percent, Nigh pointed out. “This is helping mediate the normal seasonal upswing in spare rib prices we typically see around the July 4th festivities,” she 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.
Commenting on factors driving the slight increase in retail watermelon prices, Nigh said, “While watermelons are grown across the U.S., most come from four states – Texas, Florida, Georgia and California – which together produce approximately 44 percent of the U.S. crop. Shipments of watermelons are down nearly 8 percent compared to the same time period last year,” she said.
U.S. milk production is up 1 percent compared to the same period last year. During the first quarter of 2016 (January-March), U.S. milk production reached historic levels, putting significant downward pressure on the price farmers receive for their milk.