Factors Influencing Turkey and Thanksgiving Meal Prices

Factors Affecting Turkey Prices

• 💡 Wholesale turkey prices are up 40% compared to last year, largely due to avian influenza (bird flu).
• ⚠️ Bird flu outbreaks have led to the culling of millions of turkeys, impacting supply and slowing rebuilding efforts.
• 🍗 Despite higher wholesale costs, retail turkey prices remain relatively flat as stores use them as loss leaders to attract shoppers.

Broader Thanksgiving Meal Costs

• 📈 Grocery prices have increased by approximately 25% over the past five years.
• 🥩 Beef prices are at record highs, and fresh vegetables are up 3% year-over-year.
• 🥫 Canned vegetables have seen a 5% increase, partly due to rising production costs, especially for tin steel.
• ☕ Coffee prices are up over 18% compared to last year.
• 🍫 Desserts containing chocolate are more expensive due to near-record high cocoa prices driven by supply constraints and consecutive poor harvests.

Impact of Tariffs and Supply

• 🍷 Imported wine prices are higher due to tariffs, while domestic wine prices have slightly decreased due to excess supply and softening demand.
• 📊 Retailers like Walmart offer Thanksgiving meal deals, but the comparison of costs year-over-year may not be direct due to changes in basket contents.