/Turkey prices are up 73% heading into Thanksgiving

Turkey prices are up 73% heading into Thanksgiving

Prices continue to rise around the nation and this means Thanksgiving dinner is going get a lot more expensive for Americans. The price per pound of an 8- to 16-pound turkey has risen to $1.99, a 73% increase from $1.15 last year, according to USDA data. Families can expect to pay record high prices at the grocery store for turkey this upcoming holiday season thanks to the impacts of the bird flu and inflation.

According to Farm Bureau:

Inflation is adding to the price hikes. All retail food prices were 11.4% higher in August compared to the same time last year. Despite the higher prices, there should be enough turkeys available for the Thanksgiving demand.

“All of us are feeling the pain of higher prices at the grocery store,” said AFBF President Zippy Duvall. “HPAI outbreaks in the spring and an uptick in cases in the fall are taking a toll, but farmers remain dedicated to ensuring America’s food supply remains strong.”

It is important to understand that farmers aren’t profiting from record high retail prices. High supply costs from feed, fuel, fertilizer and labor make raising turkeys even more expensive. USDA’s most recent Farm Sector Income Forecast predicts record high total production costs, increasing by 17.8% from 2021 to $437.4 billion in 2022.