Talkin' Turkey - The Cost of a Thanksgiving Feast

It is no secret that Inflation has proved to be a challenge in 2022. We experienced inflation at the gas pump, grocery store, in the housing market, and even as we set the table for Thanksgiving Dinner.

According to the American Farm Bureau Federation, it will cost nearly 20% more to host a Thanksgiving in 2022 compared to 2021. The average cost of a Thanksgiving feast for 10 is $64.05 in 2022, which is up $10.74 total from the 2021 calculation.

All items at a typical Thanksgiving meal rose in price this year except for fresh cranberries, which saw a -.41 cent price decrease. Turkey, stuffing, rolls, milk, potatoes, and green beans saw the highest rise in cost compared to 2021.

Even though consumers are paying more for groceries, farmers are not receiving a higher percentage of the cut. On average, farmers only receive eight cents of every retail dollar spent on food. Using the calculated cost of a Thanksgiving meal, $65, that means that a farmer only receives about $5 in revenue.

Higher turkey costs also come as no surprise due to the strain that the Avian Influenza put on the market. Since early 2022, more than 49 million birds have been killed as a result of the Avian flu virus. The bird flu has been tracked in 44 states in commercial production facilities.
The average price for a 15-pound turkey in the United States is $34.15. States in the midwest find the lowest cost per pound, whereas east and west coast states find significantly higher prices. Hawaii has the highest price for a turkey, coming in at a whopping $50.35, and Mississippi has the lowest price for a turkey at $26.35. Texas, Utah, Iowa, Florida, Arizona, and Louisiana all have turkey prices below $30. For each pound of turkey sold, the farmer only makes $0.09! (USDA)

Planning ahead and shopping sales can help you save money on your Thanksgiving feast. Some families are even making their dinner a “Potluck” style, where each member brings their own dish to help split the costs. Buying items in bulk, skipping premade food, and sticking to meal essentials can help ease the financial burden that hosting a large Thanksgiving dinner may place on some families.

Even with all of the uncertainty in the world, we have so much to be thankful for. We hope you and your loved ones have a great Thanksgiving!

Sources:

https://financebuzz.com/cost-of-turkey-in-every-state

https://www.cdc.gov/flu/avianflu/spotlights/2022-2023/nearing-record-number-avian-influenza.htm

https://www.usda.gov/media/blog/2017/11/22/giving-thanks-americas-agricultural-producers