New York (CNN) — Something wild has happened with turkey prices that’s going to make the cost of cooking the Thanksgiving meal more palatable to families on a tight budget. “There’s been a big collapse in retail prices for turkey,” said Michael Swanson, chief agriculture economist with Wells Fargo Agri-Food Institute. “Because turkey prices are...
Published Nov 1, 2023 9:06 PM CETCanned food is still costlier heading into the Thanksgiving month compared to last year. Something wild has happened with turkey prices that’s going to make the cost of cooking the Thanksgiving meal more palatable to families on a tight budget.
Store prices for the 10-to 15-pound turkey, typically the star of the holiday dinner, have dropped 13% in October compared to the same month last year, said Swanson. Drop in turkey prices could bring down the overall cost of a Thanksgiving home-cooked meal this year. “A year ago, refrigerated trucks were charging $3.80 per mile on average. Now, the most recent rate quoted by the USDA was $3.30 per mile,” he said. There’s also more availability of trucks, which has freed up supply and brought down the cost for the food industry, he said.“Historically we see a big drop in the two weeks before Thanksgiving,” he said, adding that 84% of whole fresh turkeys are typically sold in November.
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