It comes as no surprise grocery proces have taken steep climbs in recent years.
New data from USDA shows just how much disposable income consumers are spending to put food on the table.
They found that in 2023, U.S. consumers spent around 11 percent of their disposable income on food, and that is right in line with spending levels in 2022.
“Food at home” purchases fell a couple of points during 2023, with “food away from home” jumping nearly half a percent.
They place the rise on more disposable income, with consumers starting to return to outside the home eateries.
Related Stories
John Mays with Central Life Sciences joins us to discuss the importance of pest management ahead of wheat storage and how protecting grain quality can support stronger marketing opportunities.
University of Arkansas researchers are working to help farmers reduce grain waste and get more value out of their crops.
ASFMRA’s Luke Worrell joined us to discuss farmland market trends, insights from the Illinois Land Values Conference, changing buyer and seller demographics, and the latest outlook on planting progress.
Roger McEowen joins us to explain the USDA appeals process and how farmers should navigate adverse decisions and crop insurance disputes.
Louisiana soybean farmers are moving quickly to get this year’s crop planted during a key window for yield potential.
Higher input costs are making flexible marketing plans and updated break-even targets more important.
