The latest Kentucky Farm Bureau Federation's quarterly survey reveals that there has been a state-wide decline in beef and dairy prices.

The survey has been conducted for four decades and looks at the relationship between what farmers profit from their commodities and retail food pricing trends.

In July, the survey discovered many items priced below average. The average price for a gallon of milk was $2.86 which is about 21 cents below the April average.

A 24-slice package of american cheese also took a price cut of 53 cents. Overall, fresh produce such as corn, potatoes, and cucumbers were down 8.7 percent in price compared to April.

The biggest price drop came with rib-eye steak, which dropped from $9.95/lb to $8.57/lb.