Today is Independence Day and we are celebrating across the country. The warm weather will be reminiscent of that hot day in Philadelphia 247 years ago. While we gather for fireworks and time with family, we will likely all notice that the price of having that family cookout has gone up exponentially. The price of food and inflation is hitting everybody in the wallet.
Lance Zimmerman is a Senior Animal Protein Analyst for RaboResearch North America. He talks about how the price of the average cookout has jumped in the past five years.
Meat isn?t the only thing giving consumers sticker shock, but it is certainly on the list.
While meat isn?t showing the highest percentage of price increase, it is the one that puts the biggest cost of change on your bank account.
What is still surprising to so many analysts, Zimmerman included, is how much demand there still is, despite the cost increase.
Happy 4th of July to all of you today.
