Farmers getting smaller share of money from food spending

"The share of food spending that goes to America’s farmers fell for the sixth straight year in 2017, according to the USDA Economic Research Service," Tim Marema reports for The Daily Yonder. Meanwhile, "The share of American food spending that goes to the foodservice industry has increased for six consecutive years."

Farmers got 14.6 cents for every dollar spent in the U.S. on food in 2017, compared to 17.6 cents on the dollar in 2011, according to the ERS's Food Dollar Series, which tracks American food spending and farmer income, Marema reports.

The ERS said farmers are getting a smaller share of food spending because food makes up a smaller share of total costs these days; that's because restaurants' costs for food prep and service have increased, Marema reports.