Average Thanksgiving Dinner Cost Decreases
The American Farm Bureau Federation's Thanksgiving Dinner Price Survey shows consumers continue to enjoy an affordable food supply as this year's Thanksgiving dinner is the most affordable in five years. The average cost for 10 for a classic Thanksgiving Dinner decreased less than two percent, remaining under $5 per-person, according to AFBF market intelligence director John Newton.
"The price of Thanksgiving Dinner is $49.12, that's down 75 cents, or one and a half percent from last year and shows that the Thanksgiving dinner is down for the second consecutive year in a row and remains below five dollars per-person."
The decline was driven by lower retail turkey prices, along with lower prices for milk and rolls. The average cost of turkey this year is $22.38 for the whole bird.
"Wholesale turkey prices are at their lowest level since 2013, and given that the turkey represents nearly 50 percent of the basket's total, it's the biggest factor driving the price decline. Turkey prices came this year in at $1.40 per-pound, that's down two cents from what we saw last year."
Meanwhile, the supply of pumpkins for processing for pumpkin pie has rebounded from a couple of years ago.
Full survey results are available at www.fb.org.
That's your Land and Livestock Report-I'm Russell Nemetz.