Thanksgiving might be slightly more affordable this year compared to a few years ago, with turkeys accounting for the bulk of savings, according to a Wisconsin farmers group.
Wisconsin residents are paying an average of $57.61 for their Thanksgiving meals, according to the Wisconsin Farm Bureau’s informal survey. That is 2.1 percent less than last year’s average price of $58.86.
Nationally, the average price dropped from $61.17 to $58.08, about a 5 percent decline. The survey’s record high national figure came in 2022 at $64.05.
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And of this year’s total, turkeys account for nearly half that cost at $25.60 for a 16-pound bird. Americans eat over 46 million turkeys every year, according to estimates by the U.S. Department of Agriculture.
Specifically, turkey prices dropped in Wisconsin from $26.56 to $25.60, according to the bureau’s survey. That is about a 3.6 percent decline.
But what’s bringing down the costs of turkeys in Wisconsin?
Ron Kean, faculty associate and extension specialist in the Department of Animal and Dairy Sciences at the University of Wisconsin-Madison, told WPR’s “Wisconsin Today” that it all comes down to the classic economics mantra of “supply and demand.”
Turkey supply is down slightly this year, Kean said. But so is demand, which overall seems to be lowering turkey costs slightly from previous highs.
Deanna Scott co-owns Old Glory Farm in Elkhorn. The farm cares for roughly 650 turkeys after starting out with just six birds and a desire to feed their own family. Scott’s daughter raised a turkey that won the Best in Show at this year’s Walworth County Fair.
Raising and caring for those turkeys on the farm continue to involve challenges related to inflation.
“The feed, the processing — it all goes up every year,” Scott said. “We try to keep our costs as low as we can but we also have to make a profit.”
Consumers still feel effects of inflation
The Wisconsin Farm Bureau’s annual survey of grocery store prices hit a record high in 2022, amid nationwide inflation. This year’s total is still feeling the impact, according to communications director Cassie Sonnentag from the Wisconsin Farm Bureau.
“We did see some decreases in Thanksgiving staples (this year), but that doesn’t mean that inflation is completely gone and those prices aren’t still elevated from pre-pandemic numbers,” Sonnentag said.
This year’s total cost is about $8.96, or 18 percent, higher than the same survey in 2019.
Sonnentag said one thing that’s remained consistent is farmers’ share of consumer spending on food. Producers receive just under 16 cents for every dollar spent on food in the U.S.
After a series of foodborne illnesses affected Wisconsin and other states this fall, the Farm Bureau also encouraged consumers to be mindful of food safety when preparing this year’s holiday meal.
Sonnentag said that includes making sure to properly thaw a turkey in the refrigerator to prevent any bacteria growth.
“I think sometimes it gets overlooked, or maybe not considered necessarily as a part of food safety,” said Sonnentag, who suggests allowing 24 hours of thawing time for every 5 pounds of meat.
