HomeBusinessWhy Thanksgiving dinner could cost more this year

Why Thanksgiving dinner could cost more this year

With turkey costs rising, Thanksgiving dinner this 12 months may find yourself being one of many priciest vacation meals on file.

In keeping with the American Farm Bureau’s annual Thanksgiving dinner survey, a vacation feast for a household of 10 that includes turkey, stuffing, candy potatoes and pumpkin pie will value $53.31, a 14% enhance over final 12 months. A 16-pound turkey will value $4.60 greater than a 12 months in the past.

That worth hike is due, partly, to U.S. turkey farmers being battered by provide chain points, together with labor shortages in processing crops and better prices, together with on feed, transportation and packaging supplies.

The wholesale worth of frozen complete tom turkeys weighing 16 to 24 kilos was $1.36 per pound as of Nov. 19, 18% larger than a 12 months earlier.  

And based on analysts, turkeys are additionally in shorter provide.

“One factor that you just in all probability will discover on the grocery retailer this 12 months is extra naked cabinets, as we transfer into the vacation season,” stated Trey Malone, an agricultural economist at Michigan State College. “That does not essentially imply that we’ve not produced sufficient, it simply implies that the provision chain disruptions have created extra uncertainty alongside the system.”

Greater than 109 million Individuals are anticipated to journey for Thanksgiving, and 65% of Individuals count on Covid to have an effect on their Thanksgiving celebrations. 

So what can customers count on after they store for his or her Thanksgiving turkey this 12 months and what influence will the provision chain disaster have on the nation’s turkey farmers?

Watch the video to search out out what’s subsequent for U.S. turkey farmers.

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