The introduction of bacon onto fast-food sandwiches has increased demand for bacon , and this has translated into higher prices. Supply is also slightly down. Milk and cheese prices experienced a sharp increase. Milk production, as a result, has been cut back around 4 percent. A one-pound package of whole fryers increased 9 cents to 97 cents.
Supply is also up, prompting the drop in prices.
AFBF, the nation's largest general farm organization, conducts its informal quarterly marketbasket survey to help track retail food prices to ensure they are in line with prices received by the nation's farmers and ranchers. While grocery prices have steadily increased this year, the farmers' and ranchers' share remains steady. The farm value of each food dollar spent in the United States is approximately 22 cents. Labor, at 36 cents, is the largest component of the consumers' food dollar. Volunteer shoppers from 35 states participated in this latest survey in mid-August.