Consumer dollars being spent on food are occurring at a pace that is “encouraging”, according to the Daily Livestock Report (DLR). Although total dollars going to the food industry were down 2.4 percent in September, the decline was the smallest since March (-2.2 percent) when the onset of the pandemic began, according to Census Bureau/Department of Commerce data cited by Daily Livestock Report (DLR).
Grocery store sales were up 10.5 percent in September compared with year earlier and the August increase of 7.2 percent. Sales for the summer quarter were up 9.9 percent while the spring quarter increased 12.9 percent.
Foodservice sales during September decreased 13.7 percent compared with year ago, the smallest drop in the last seven months. Summer quarter sales declined 16.4 percent, more than halving the slippage during the Spring quarter.
The October 20 DLR report can be viewed here.
