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Farm Events: |
Farm News: WI Food Prices Mirror National TrendscommentsPosted: 01.11.2011
Wisconsin's retail food prices seemed to mirror many of the national trends sited by the American Farm Bureau Federations end of year survey. A majority of the monitored food items went up in price.
The Wisconsin Farm Bureau’s informal survey shows the total cost of 16 food items that can be used to prepare one or more meals was $45.61 - or one percent higher then their third quarter survey.
Of the 16 items surveyed, 10 increased and six decreased in price compared to the third quarter of 2010.
Eggs, shredded cheddar cheese, ground chuck, vegetable oil, potatoes and toasted oat cereal were the items that saw the largest percentage increases in price compared to the prior quarter.
Large eggs increased 24 cents (18 percent) to $1.54 per dozen; shredded mild cheddar cheese increased 42 cents (11 percent) to $4.23 per pound; ground chuck increased 18 cents (6 percent) to $3.09 per pound; vegetable oil increased 13 cents (4 percent) to $2.84 per 32 oz. container; russet potatoes increased 6 cents (2 percent) to $2.14 per 5 lb. bag; and a box of toasted oat cereal climbed 8 cents (2 percent) to $2.95.
Wisconsin's price on bacon, apples, flour and milk were the items that saw the largest percentage reductions in price compared to the third quarter of 2010. On the national survey - bacon had actually gone up!
A pound of bacon decreased by 42 cents (9.8 percent) to $3.84; a pound of red delicious apples fell 8 cents (5.8 percent) to $1.28; a 5 lb. bag of all-purpose flour declined by 11 cents (5 percent) to $2.09; and a gallon of whole milk was 13 cents lower (4 percent) at $2.91.
“The reduction in price for bacon we found in Wisconsin was expected,” said Casey Langan, spokesman for the Wisconsin Farm Bureau Federation. “There was great demand for bacon over the summer months when many restaurants add it to their menu items. Strong demand and tight supplies resulted in unusually high prices last September, a price reduction since then was reflected in the prices our shoppers reported in mid-December.”
“Yet pork prices are likely to climb again in 2011 as pork producers are not likely to increase their production in the near future,” Langan added.
According to the National Pork Board: “Productivity improvements will offset some of the reductions in the number of pigs coming to market, yet they will be insufficient to make up all the lost ground, let alone boost supplies enough to meet growing export and domestic pork demand.”
The American Farm Bureau Federation’s national survey of the same 16 items cost $46.97, which is over one dollar more than Wisconsin’s average ($45.61). However, six of the 16 items had higher prices in Wisconsin: shredded cheddar cheese, toasted oat cereal, ground chuck, boneless chicken breast, vegetable oil and flour.
Compared to a year ago, the total price of the national survey was up $4.07 (about 10 percent). Last summer the Wisconsin Farm Bureau altered the items it surveys to mirror that of the nation survey. Of the 12 items that are on the current and last year’s survey, the overall price jumped from $30.84 in late 2009 to $33.12 in late 2010, a 7 percent increase.
The Marketbasket is a quarterly look at the trends in food prices in Wisconsin in relation to changing farm prices, weather and wholesale and retail food marketing. Members of the Wisconsin Farm Bureau collect price samples of 16 basic food items in 26 communities across Wisconsin.
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