The Consumer Price Index report tracks with what the Farm Bureau found as food prices are flat compared to a year ago.
Farmers’ Share of Food Profits Diminishes
However, over time, the share of the average food dollar that America’s farm and ranch families receive has dropped.
“Through the mid-1970s, farmers received about one-third of consumer food expenditures for food eaten at home and away from home,” says the Farm Bureau’s John Newton.
“Today, farmers receive approximately 14.8 cents of every food marketing dollar, according to the Agriculture Department’s revised Food Dollar Series. However, after accounting for the costs of production, U.S. farmers net 7.8 cents per food dollar.”
Using the “food at home and away from home” percentage across-the-board, the farmer’s share of this $55.07 basket of food from the market would be $8.15.
