Survey Shows Consumers Willing to Pay More for Hamburger, Deli Ham and Pork ChopsTue, 18 Mar 2014 11:11:27 CDT
Americans are more willing to pay higher prices for hamburger, deli ham and pork chops than they were last month. That's according to the latest willingness-to-pay survey conducted as part of Oklahoma State University's monthly Food Demand Survey. The survey also showed consumers were less tolerant of high prices for chicken and steak in March than they were in February.
Survey respondents said they would pay an average of $2.20 for deli ham in March. That was up 23 cents from the month before. They also said they would pay 22 cents more for a pound of hamburger and eight cents more per pound of pork chops.
Their willingness to pay for beans and rice dropped nearly 24 percent in this latest survey.
The survey was conducted with at least 1,000 shoppers and was weighted to match the U.S. population in terms of gender, race, age, education and region of residence.
Consumers' willingness to pay for steak dropped four percent over the month, from $6.87 per pound to $6.59 per pound. Chicken breasts saw a slightly lower decline in willingness to pay from $5.04 to $486 per pound.
Survey respondents reported their expenditures on groceries rose 1.01 percent in February and their spending on meals away from home dropped .31 percent. They say they are eating out less often than in the past.
The Food Demand Survey also reported consumers expect to see higher beef prices in the coming weeks along with higher chicken and pork prices.
When it comes to purchasing foods, survey respondents reported their main challenge is now finding affordable foods. They are less concerned than in the past with food safety issues and animal welfare issues.
The Food Demand Survey is compiled monthly by Jason Lusk of Oklahoma State University.
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