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
Lower inventories and cautious farrowing plans suggest tighter hog supplies into 2026, keeping producer margins sensitive to demand trends and health risks.
Transportation challenges are mounting as droughts lower Mississippi River levels and push freight rates higher.
Waiting could risk leaving next year’s crop unprotected.
Michigan corn farmer and NCGA Vice President-Elect Matt Frostic will lead the task force. He joined us on Thursday to share his insights on the escalating corn crisis.
As input costs continue to rise, diesel prices have held steady in recent weeks, according to energy analysts at GasBuddy.
U.S. soybean farmers are growing increasingly frustrated by Argentina’s gains in Chinese grain contracts and Trump’s pledge of economic support for the South American ally.
