Thanksgiving Meal Costs On The Rise

Higher turkey and whole milk prices translate to a slight increase in the average cost of a Thanksgiving Day meal, according to an annual survey performed by the Arkansas Farm Bureau.

The agriculture group said this year Arkansas families will spend $46.23 for a family of 10, or $4.62 per person, for all of the ingredients that make up a traditional meal. Last year’s average was $42.63.

The statewide average is based on responses from members of the Farm Bureau Women’s Committee and other volunteers who surveyed food prices at 12 grocery stores and supermarkets across the state. They were asked to report the “best in-store price” of 12 items included in the meal. They are allowed to take advantage of advertised specials, excluding discount coupons and purchase requirements. This is the 29th year that the Arkansas Farm Bureau has conducted its survey.

Arkansas Farm Bureau President Randy Veach said despite the slight rise in costs, the affordability of the meal speaks to the efficiencies of the nation’s food production system.

“Food remains abundant and affordable in America,” Veach said. “Though the price of some items in the traditional meal are higher this year, American farmers and ranchers continue to utilize the latest research and technology to hold down their cost of production.”

Arkansas’ average meal cost of $46.23 is below a national survey conducted by the American Farm Bureau, which estimated a cost for a Thanksgiving meal at $49.41.

Though unscientific, the survey is intended to be a snapshot of actual prices across Arkansas and the nation. The survey period was Oct.31-Nov.12. The shopping list has remained unchanged since 1986 to allow consistent price comparisons.

Travis Justice, chief economist for Arkansas Farm Bureau, attributed the price hike primarily to higher costs of turkey production and increased demand for dairy products.

“Turkey prices have risen this year as a result of production cutbacks by growers who are facing higher feed and transportation costs,” Justice said.

He noted that while motorists are benefitting from lower gasoline prices, the cost of diesel used to transport food products from processors to retail outlets has not followed suit.

“Milk and other dairy product prices are higher, again due to feed costs, plus poor weather conditions and a growing global demand for U.S. dairy-based items,” Justice added.

ITEM-BY-ITEM
The average price of a 16-pound young tom turkey this year increased $2.49 to $18.08 ($1.13 per pound). Turkey prices are higher nationwide. The American Farm Bureau reported an average of $1.35 per pound.

Another major driver of the survey is the cost of a gallon of whole milk.

After dropping to $4.00 in 2013, the average increased to $4.25 this year. Also contributing to the price hike was a 59-cent increase in the cost of a 1/2-pint carton of whipping cream and 55-cent increase for three pounds of sweet potatoes.

Other items included in the meal that saw an increase in price were a package of frozen green peas, up seven cents; a pound of carrots, up 19 cents; and the combined average cost of miscellaneous items included in the meal such as coffee, eggs, flour, and butter, which increased 28 cents.

Items that saw modest price reductions include cubed stuffing, a 30-ounce can of pumpkin pie mix, a two-count package of frozen pie shells, 12-count package of brown and serve rolls, a bunch of celery, and a 12-ounce package of cranberries.