Your Memorial Day cookout will likely cost more this year. New numbers from Rabobank show they are hitting new highs but say it is not the fault of your neighborhood farmer.
“Inputs for farmers are up about 10% against the long-run averages on a real basis. But we’re also still in the process of realigning global trade flows. The era of unburdened shipping is behind us for now. At least. We are also seeing regulatory costs associated with changing ingredients around MAHA as one example. Another factor that companies are looking at, some are already reformulating to phase out food guides. Labor costs also remain elevated, nearly 1% above long-run averages,” said Tom Bailey.
Last year’s Memorial Day barbeque costs were up around two percent compared to 2023. This year, Rabobank says they are up more than four percent over last year’s gains.
