Memorial Day BBQ
From the Ag Information Network, I’m Bob Larson. Grilling Season 0fficially kicks off this weekend with your Memorial Day cookouts. But how much will that outdoor feast cost this year?
Rabobank released its annual Barbecue Index, and Senior Consumer Foods Analyst Tom Bailey says inflation has taken this year's prices to new highs …
BAILEY … “Last year, we sounded the alarm on this index. We said that the food price inflation was probably about as low as we'd get for the next year or so. This has certainly turned out to be the case. Last year's barbecue prices rose by 2% compared to 2023. This year, we're looking at twice that. We're up 4.2%.”
Bailey says there are a number of farm gate influencers at play …
BAILEY … “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.”
Rabobank’s Index factors a party of 10 with burger, chips, beer, soda and ice cream …
BAILEY … “We've finally broken through the $100 barrier. This year, we're at $103 and as I said, this is a 4.2% increase from last year. The biggest three contributors to the total price of this index, beer accounts for 27% of the price, beef accounts for 15% of the price, and then soda accounts for 11%, and chicken accounts for another 11% of the price.”
Bailey notes tariffs constitute just one quarter of 1% of the cost of this all-American meal.
