Turkey costs less this Thanksgiving as prices fall for second straight year

Published On Nov 22, 2024, 4:05 PM

The prices of turkey in the U.S. are down by 6% compared to last year, according to a survey by the American Farm Bureau Federation. The average cost for a 16-pound turkey is approximately $25.67. Despite this decrease, the overall cost of Thanksgiving dinner is still up by about 19% from five years ago due to prior inflation. Butterball CEO Jay Jandrain stated the company worked hard to reduce prices to provide better value for consumers amidst ongoing inflation concerns. Sales of turkey are reported to be strong as 86% of Americans celebrate Thanksgiving, and 87% of those serve turkey.

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The reduction in turkey prices may indicate a temporary relief for consumers, yet the overall inflationary trends suggest that food producers might still face pressure. The relatively stable demand for turkey, highlighted by strong sales, could sustain Butterball’s revenues despite the downward price adjustment.

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