May 22, 2024

Turkey prices fall as Thanksgiving approaches

There is plenty of turkey — and the lower prices that come with strong supplies — to go around for Thanksgiving.

WASHINGTON — The cost of purchasing a turkey could be lower this Thanksgiving, thanks to a drop in avian influenza cases and a recovery of the turkey population in the United States.

American Farm Bureau Federation economists analyzed turkey and egg prices in the latest Market Intel report, which states the average price for an 8- to 16-pound turkey typically served for Thanksgiving was $1.27 per pound in August, 22% lower than the same time last year.

There is plenty of turkey — and the lower prices that come with strong supplies — to go around for Thanksgiving.

“The status of (highly pathogenic avian influenza) is much different now than it was just a year ago,” the Market Intel said. “Migratory birds are a major vector of this virus, which naturally makes spring and fall migration high risk times.

There is plenty of turkey — and the lower prices that come with strong supplies — to go around for Thanksgiving.

“Detections from the current outbreak peaked during March 2022 with 20.96 million birds affected before gradually falling to just 540 birds in September 2023. This can be compared to 8.15 million birds affected in September 2022. June marked the first month with no detections since the outbreak began in February 2022.”

There is plenty of turkey — and the lower prices that come with strong supplies — to go around for Thanksgiving.

A robust turkey population is good news for farmers and families across the country, said AFBF President Zippy Duvall.

“The resilience of our food supply is an example of the strength of American agriculture, which is helped in part by the farm bill,” he said. “We urge Congress to focus on passing the farm bill by the end of the year to ensure farmers can continue to put food on the tables of America’s families.”

There is plenty of turkey — and the lower prices that come with strong supplies — to go around for Thanksgiving.

Egg production also saw a year-to-year increase, with 9.38 billion eggs produced in September, a 2% increase from the same time last year.

The national average retail price for shell eggs was $2.04 per dozen this August, down 30% from $3.11 last August. This is nearly 60% lower than the record average price of $4.82 set this January.