TEXAS FOOD PRICES RISE HEADING INTO SUMMER
Quarterly food basket increases, according to TFB’s Grocery Price Watch
(WACO, Texas)—Texas shoppers will pay more for meat—especially pork—according to the latest Texas Farm Bureau (TFB) Grocery Price Watch survey. The total cost of the 16-item grocery bill rose to $47.57, up from $46.66 last quarter.
“The reduced supply of staple food items has consumers feeling the pinch at the grocery store, but farmers and ranchers only see a fraction of the higher prices,” TFB President Kenneth Dierschke said.
The survey showed prices for pork chops rising to $4.54 per pound from $4.25 last quarter and ground beef prices rising to $4.09 per pound from $3.95 last quarter. Sliced turkey increased to $4.68 this quarter, as compared to $4.36 in the first quarter of 2014. Smaller increases were registered for beef sirloin and boneless, skinless chicken breasts.
“The ongoing drought has the U.S. cow herd at its lowest numbers since the 1950s, and hog farmers are fighting a virus that has reduced total pig numbers,” Dierschke said. “But Texas ranchers are working to rebuild their herds and hog farmers have modified their management practices to improve production.”
Dairy products—milk and cheese—saw increases in the second quarter, as well.
“Global demand for milk and protein is on the rise due to improved economic conditions,” Dierschke said. “Domestic prices, as shown in the Grocery Price Watch survey, are increasing as a result of the additional demand.”
Grapefruit prices also have increased, rising to 93 cents per pound. The 16-cent increase per pound over last quarter is due in large part to the end of production season.
Of the 16 items surveyed, six items decreased in price from last quarter: tomatoes, white bread, corn flakes, long grain rice, vanilla cake mix and vanilla ice cream. Lettuce and dried pinto beans saw slight increases from the first quarter.
The TFB Grocery Price Watch is conducted quarterly by volunteer shoppers at grocery stores across the state of Texas. The current survey data was collected by 39 shoppers from June 5-12, 2014. TFB has monitored Texas food prices through its Grocery Price Watch survey since March 2009.
For a detailed list of prices from the current and previous Grocery Price Watch surveys, please download the accompanying high-resolution chart.