The cost of a traditional Thanksgiving dinner rose slightly this year. The culprit....this year's drought.
The American Farm Bureau Federation says the average cost of this year's feast for 10 is $49.48; a 28-cent price increase from last year's average of $49.20. The rise in the cost of feed is attributed to the price increase.
"At just under $5 per person, the cost of this year's meal remains a bargain," said AFBF President Bob Stallman.
The national avearga for a 16-pound turkey was $22.23 this year. That was roughly $1.39 per pound, an increase of 4 cents per pound, or a total of 66 cents per whole turkey, compared to 2011. The whole bird was the biggest contributor to the final total, showing the largest price increase compared to last year.
"Most Americans will pay about the same as last year at the grocery store for a turkey and all the trimmings," says John Anderson, AFBF's deputy chief economist. "A slight increase in demand for turkey is responsible for the moderate price increase our shoppers reported for the bird."
Savvy shoppers could pay even less for frozen turkey if they are willing to wait to purchase their bird.
"Turkeys may still be featured in special sales and promotions close to Thanksgiving," Anderson explained. "Anyone with the patience to wait until the last minute to buy a turkey for Thanksgiving could be rewarded with an exceptional bargain," he said.
(Image courtesy AFBF)