Traditional Thanksgiving dinner costs dip from a year ago

Deflationary prices in turkey, dairy and vegetables will reduce the cost of this year’s traditional Thanksgiving Dinner. The cost to feed a family of 10 is expected to tally just under $50, according to the American Farm Bureau’s annual informal price survey released Thursday (Nov. 17).

The total cost this year is $49.87, down 24 cents from a year ago. After adjusting for inflation, the cost of a Thanksgiving dinner fell to $20.66, the lowest level since 2010.

The main feature and big ticket item of turkey is selling at about $1.42 per pound, down 2 cents from a year. The savings on a 16-pound turkey is about 30 cents over last year.

“Consumers will pay less than $5 per person for a classic Thanksgiving dinner this year,” said AFBF Director of Market Intelligence Dr. John Newton. “We have seen farm prices for many foods – including turkeys – fall from the higher levels of recent years. This translates into lower retail prices for a number of items as we prepare for Thanksgiving and confirms that U.S. consumers benefit from an abundant, high-quality and affordable food supply.”

The AFBF survey shopping list includes turkey, bread stuffing, sweet potatoes, rolls with butter, peas, cranberries, a veggie tray, pumpkin pie with whipped cream, and coffee and milk, all in quantities sufficient to serve a family of 10 with plenty for leftovers. Aside from lower turkey prices, pumpkin pie mix, milk and vegetables has also a little cheaper this year.

“Due to a significant expansion in global milk production, prices fell to the lowest levels since 2009, leading to lower retail milk and dairy product prices. Additionally, this year’s pumpkin prices are slightly lower following the production decline and higher prices seen in 2015,” Newton said.

On the flip side, consumers will pay a little more for the a dozen rolls, pie shells, fresh cranberries, stuffing mix and a three-pound bag of fresh sweet potatoes.