Thanksgiving Dinner Prices Decline
Thanksgiving turkey dinners are set to be more affordable for the third straight year, according to a report from the American Farm Bureau Federation released on Wednesday.
The agriculture organization estimates that the average cost of a Thanksgiving meal for ten people will be $55.18, translating to $5.52 per person.
This marks a 5% decrease from last year’s average of $58.08 and a 10% drop from $61.17 in 2023, following a previous high of $64.05 in 2022.
The decline in turkey prices has significantly influenced this trend. The report indicates that the average price for a 16-pound frozen turkey is expected to be $21.50 this month, or approximately $1.34 per pound, which is down 16% from last year when prices fell by 6% compared to 2023.
Faith Parum, an economist with the federation, noted that while farmers are still working on rebuilding turkey flocks affected by avian influenza, overall demand has also decreased. This combination is likely to keep turkey prices reasonable for families celebrating Thanksgiving.
The federation anticipates that some side dishes may see price increases, meaning the overall cost of the annual feast will still be higher than it was before the COVID-19 pandemic in 2019.
The organization has monitored grocery prices for key items such as turkey, stuffing, sweet potatoes, and pumpkin pie through its annual surveys over the past four decades.
Zippy Duvall, president of the federation, expressed concern about food prices affecting many families across America. He highlighted that around 15,000 farms closed last year due to various challenges including low crop prices and high supply costs.
Duvall urged Congress to address these tough economic conditions impacting farmers.
The federation’s recent interactions with government officials have included requests for reduced tariffs on imported goods that they believe contribute to rising production costs for farmers.
A White House spokesperson defended current economic policies in response to the federation’s findings, stating that decreasing prices on essential items like turkeys and butter reflect positive changes since recent political shifts.
This year’s survey found an average price drop ranging from 1% to 16% on several other Thanksgiving staples including stuffing mix and frozen pie crusts ahead of November 27th celebrations.
