Why Americans will have to pay a lot more for their Thanksgiving turkeys this year
A turkey is essential for a Thanksgiving dinner, a tradition that has been carried forward by generation after generation. But this year, consumers will face a significant financial challenge that might make it harder to get turkeys. Supply chain issues under this economy will increase the cost of the bird, making festivities more expensive.
According to a CNBC report, the turkey flock of the United States has dropped to its lowest size in close to 40 years, thanks to a deadly and highly contagious avian flu. This flu has been wreaking havoc for some time now, but consumers have not yet faced its impact, as not a lot of people purchase turkey meat unless it is Thanksgiving. A study by the Purdue University College of Agriculture has shown that wholesale turkey prices have surged a whopping 75% since October of last year.
In the retail space, the prices of these birds have gone up by 25%. At this point last year, the wholesale price of a turkey was just 94 cents per pound. Now, it has gone up to $1.71 per pound. That might not seem like a big jump, but one has to remember that turkeys are not small birds. In fact, consumers prefer to have a plump turkey for Thanksgiving that is even heavier.
The Purdue study concluded that the retail price of turkey in November will be $2.05 per pound, which will make a 15-pound bird as expensive as $31. That’s a price not everyone will be able to afford, especially at a time when the prices of groceries are seeing a steep rise. Wholesalers who purchased their turkeys at an earlier date might be able to sell them for a lower price, but that’s not going to be enough.
“Retailers that didn’t secure their turkey orders early may face steep spot market prices, which could impact availability and cost,” wrote Dr. Michael Swanson, chief agricultural economist for the Wells Fargo Agri-Food Institute. “In contrast, those who waited may now be facing steep spot market prices,” he added.
These high prices are definitely not a good look for the government, but President Donald Trump recently hailed Walmart for selling a cheaper Thanksgiving meal basket. The company had announced a 25% drop in the price of the meal basket compared to last year, which the President bragged about. However, as per a CNN report, he missed out on an important detail.
The Walmart Thanksgiving basket this year has fewer items compared to the basket in 2024. The report states that last year’s basket had 29 individual items, while this year, that number has dropped to 22. The high turkey prices may have played a role in the company reducing the number of items in the basket.
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