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Food Prices Fall in WFBF's Marketbasket Survey
Wisconsin Ag Connection - 09/27/2016

Lower farm commodity prices are trickling right down to the cash register of your local grocery store. That's according to the Wisconsin Farm Bureau, which released its latest Marketbasket Survey on Monday. The semi-annual report shows that the cost of 16 basic food items in 26 communities totaled $49.00 during the past six months. That was down 70-cents from the previous survey in March and $4.37 less than this time a year ago when high egg prices where driving food costs up.

WFBF Spokesman Casey Langan says of the items surveyed, 13 decreased in price, while items like lettuce, apples and potatoes rang up a little more.

"Strong global supplies have depressed the prices that Wisconsin farmers receive for the crops and livestock they raise," Langan said. "Coupled with steady energy prices and softening demand from foreign countries, this means lower costs for grocery shoppers."

The price of a dozen eggs fell the most from last year at 98-cents per carton. The average price for a pound of ground chuck also dropped by nearly 16 percent to $3.99 during the past year.

Langan adds that an over-supply of milk has effected milk prices for dairy farmers. As a result, consumers are finding that most dairy products are much cheaper than they were in 2015.

Meanwhile, Wisconsin's marketbasket report rang up less than the American Farm Bureau Federation's national survey of the same 16 food items. That summary totaled $49.70.

Communities surveyed include Appleton, Ashland, Belleville, Beloit, Black River Falls, Chilton, De Pere, Dodgeville, Edgerton, Ellsworth, Elroy, Hartland, Lodi, Manawa, Marshfield, Medford, New Glarus, New London, Paddock Lake, Platteville, Plover, Sparta, Waterford, Watertown, West Bend and West Salem.

The USDA says Americans will spend approximately 10 percent of their disposable annual income on food, the lowest average in the world.


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