Thanksgiving Meal Costs Ease As Turkey And Stuffing Prices Decline From Last Year’s Levels

Benzinga

Thanksgiving meal costs are about 5% lower this year as turkey prices fall sharply thanks to cheaper grain feed and early price-locking by grocery chains. Wheat declines are easing costs for stuffing and baked goods, though sweet potatoes and fresh vegetables remain pricier. Shoppers are still budget-focused and often choosing store brands.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Turkey and stuffing prices are down from last year,

00:04giving shoppers modest relief ahead of Thanksgiving, according to NPR.

00:08American Farm Bureau Federation said the average cost of a traditional Thanksgiving meal

00:12is about 5% lower than in 2023, driven by a 60% drop in whole frozen turkey prices.

00:18Wells Fargo said a record corn and soybean harvest pushed grain prices lower

00:21and reduced feed costs for producers,

00:23while many grocery chains locked in turkey prices months ago

00:26and are discounting burns heavily to draw shoppers.

00:29Wheat prices are also down, reducing costs for stuffing, dinner rolls, and pie crust,

00:34though sweet potatoes and fresh vegetables are more expensive.

00:37Shoppers say they are still price conscious and often choose store brands,

00:40even as national brands narrow the price gap to stay competitive.

00:43For all things money, visit Benzinga.com.

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