Consumers are anticipating higher meat prices on the horizon and expect to buy less beef and pork and more chicken in coming months, according to the most recent Food Demand Survey results, compiled by Jayson Lusk, professor and Willard Sparks Endowed Chair at Oklahoma State University. The survey found taste, safety and price remained consumer’s most important values when purchasing foods.
According to the survey results, food-grocery expenditures are $96.34 as of mid-May, up 5.08% from April, while $50.15 is spent on food consumed away from home, up 10.05% from April. Consumers anticipate spending less money on food in coming months.
The Food Demand Survey (FooDS) tracks consumer preferences and sentiments on the safety, quality, and price of food at home and away from home, with particular focus on meat demand. FooDS is a monthly on-line survey with a sample size of at least 1,000 individuals.
View the report results in PDF form online at http://agecon.okstate.edu/faculty/publications/4843.pdf.