The July 2014 edition of the Food Demand Survey (FooDS) is now out.
There was a decline in consumers' willingness-to-pay (WTP) for all food products, primarily because WTP last month was abnormally high. In fact, WTP for all meat products is higher this month than was the case a year ago.
Consumers continue to expect to see higher meat prices in the coming weeks, but there is reduction in inflationary expectations in comparison to last month, particularly for beef.
There is a reduction in concern for all food issues this month relative to last, particularly for Salmonella, E. Coli, and "pink slime."
We added three new "ad hoc" questions that I'll discuss in separate posts.