These items showed modest retail price decreases: whole milk, down 27 cents to $3.46 per gallon; white bread, down 20 cents to $1.65 for a 20-ounce loaf; orange juice, down 13 cents to $3.28 per half-gallon; toasted oat cereal, down 12 cents to $2.91 for a 9-ounce box; and eggs, down 6 cents to $1.84 per dozen.
The year-to-year direction of the marketbasket survey tracks closely with the federal government's Consumer Price Index report for food at home. As retail grocery prices have increased gradually over time, the share of the average food dollar that America's farm and ranch families receive has dropped, AFBF says.
"Through the mid-1970s, farmers received about one-third of consumer retail food expenditures for food eaten at home and away from home, on average. Since then, that figure has decreased steadily and is now about 16%, according to the Agriculture Department's revised Food Dollar Series," Anderson said.
Using the "food at home and away from home" percentage across-the-board, the farmer's share of this $51.54 marketbasket would be $8.25.
AFBF conducted an informal quarterly marketbasket survey of retail food price trends from 1989 to 2012. In 2013, the marketbasket series was updated to include two semi-annual surveys of "everyday" food items, a summer cookout survey and the annual Thanksgiving survey.
According to USDA, Americans spend just under 10% of their disposable annual income on food, the lowest average of any country in the world. A total of 86 shoppers in 24 states participated in the latest survey, conducted in March.