Thanksgiving Dinner Cost Drops for Third Consecutive Year, Despite Turkey Price Fluctuations

Thanksgiving Dinner Cost Analysis

• 💰 The average price to feed a party of 10 for Thanksgiving dinner has dropped for the third consecutive year, according to the American Farm Bureau.
• 📊 The overall average cost for Thanksgiving staples is currently just over $55.

Key Cost Drivers and Regional Variations

• 🦃 The turkey remains the biggest cost driver, averaging around $21.50 for a 30 oz bird.
• 🍠 Ingredients like pumpkin pie mix, sweet potatoes, milk, and stuffing mix contribute to the total cost, averaging around $4 for pie mix/sweet potatoes and $3.72 for milk and stuffing mix.
• 📈 Prices vary significantly by region, with New York City being one of the most expensive areas (over $50) and the West Coast being nearly $62, while the South is cheaper.

Year-over-Year Price Trends

• 📉 Prices are down 5% year-over-year and have decreased 16% from the record high in 2022, which was attributed to the avian flu outbreak.
• ⚠️ Interestingly, current prices are higher than during the pandemic when prices were exceptionally high.

Factors Influencing Side Dish Prices

• 🌾 A good wheat crop has made items like rolls and stuffing cheaper.
• ☀️ Conversely, drought and extreme heat have made fresh vegetables and sweet potatoes more expensive.

Turkey Pricing Strategies and Supply

• 🎯 Retailers are using turkeys as a loss leader, significantly discounting them to attract customers into stores.
• 💸 While the average wholesale price of turkey is about $1.71 per pound, stores like Walmart are selling them for 84 to 97 cents per pound.
• 🎁 Some stores are offering free turkeys as a promotion with a minimum purchase, such as Shopright's deal for spending $400.
• 📉 Despite demand, turkey production is at a 10-year low, down 6% from last year and 17% from pre-avian flu levels, due to the fallout from the avian flu.