The cost of preparing a Thanksgiving dinner for friends and family is expected to be lower this year compared to previous years, marking a positive trend for consumers. According to the American Farm Bureau Federation (AFBF), the average expense for a traditional Thanksgiving feast serving ten people has dropped to $55.18, which translates to about $5.52 per person. This figure represents a 5% decrease from the previous year and the third consecutive year of declining prices following a peak of $64.05 in 2022.
A major contributor to this reduction is the cost of turkey, which remains a staple centerpiece for Thanksgiving meals. The average price for a 16-pound frozen turkey has significantly decreased by more than 16% from last year, reflecting a current price of $21.50 or $1.34 per pound. Although wholesale prices for fresh turkeys have seen an uptick, grocery stores are marketing various Thanksgiving deals to encourage consumer purchases, resulting in lower retail prices as the holiday approaches. Data from the USDA Agricultural Marketing Service indicates that this trend of decreasing turkey prices is continuing.
The Farm Bureau’s annual survey includes a comprehensive shopping list that encompasses other Thanksgiving essentials such as stuffing, sweet potatoes, rolls, peas, cranberries, a vegetable tray, and pumpkin pie with whipped cream, averaged for ten servings. Notably, half of the items surveyed saw a decrease in prices, including dinner rolls and stuffing, partially due to low wheat prices. However, some costs have risen, like fresh vegetables and sweet potatoes, driven by factors such as hurricane damage affecting North Carolina’s sweet potato crops and ongoing labor shortages.
AFBF President Zippy Duvall acknowledged the abundance of the food supply in the U.S. while emphasizing the financial challenges many farmers face. Despite fewer families facing the burden of rising Thanksgiving dinner costs this year, Duvall pointed out the loss of thousands of farms due to factors such as low crop prices, high production costs, and uncertain trade situations, urging Congress to support farmers to ensure sustainable food production for future generations.
The survey also reflects changing traditions, as the menu now accounts for items like boneless ham, Russet potatoes, and frozen green beans, raising the overall average cost to $77.09 for those looking to expand their holiday spread. Pricing data was collected from all 50 states and Puerto Rico, ensuring a comprehensive overview of Thanksgiving expenses across the country.
Regional variations in pricing for the classic meal were noted, with the South offering the most affordable average at $50.01, followed by the Midwest at $54.38, the Northeast at $60.82, and the West at $61.75. This pricing analysis showcases not only the improved affordability of Thanksgiving celebrations but also highlights ongoing issues within the agricultural sector, grounding the hope for a successful holiday season for many American families.