Buying a Thanksgiving Turkey and Staples Will Cost Less This Year

Purchasing a Thanksgiving turkey will make consumers extra thankful this year. For the first time in two years, the cost of Thanksgiving dinner has gone down in price, and consumers will reap the benefits.

According to The American Farm Bureau Federation, the price of dinner for 10 in 2023 has gone down 4.5% compared to 2022 prices. However, the overall cost is still higher than in 2019 by 25%. A Thanksgiving feast for 10 will run about $61.17, or approximately $6.12 per guest, per The American Farm Bureau Federation’s 38th annual Thanksgiving dinner survey.

“Traditionally, the turkey is the most expensive item on the Thanksgiving dinner table,” said AFBF Senior Economist Veronica Nigh. “Turkey prices have fallen thanks to a sharp reduction in cases of avian influenza, which have allowed production to increase in time for the holiday.”

Shoppers for the federation collected data at supermarkets from Nov. 1-6, before most grocery store chains began featuring their Thanksgiving food sales. This data showed that when purchasing staples for 10 people, such as turkey, stuffing, sweet potatoes, rolls with butter, peas, cranberries, a veggie tray, and pumpkin pie with whipped cream, there was a significant overall decrease in cost.

“While shoppers will see a slight improvement in the cost of a Thanksgiving dinner, high inflation continues to hammer families across the country, including the nation’s farmers,” said AFBF President Zippy Duvall. He explained that it’s a constant challenge to grow the food families expect and rely on for Thanksgiving due to the high costs of seeds, fertilizer, fuel, and transportation.

“While high food prices are a concern for every family, America still has one of the most affordable food supplies in the world. We’ve accomplished that, in part, due to strong farm bill programs,” Duvall continued. “Although our focus is sharing time with family and friends this Thanksgiving, our thoughts also turn to encouraging Congress to double down on a commitment to passing a new farm bill with a modernized safety net to support those who raise the crops and livestock that supply Thanksgiving dinner and every dinner,” he concluded.

Consumers who choose to wait until closer to the actual holiday to purchase a turkey may find themselves saving even more money than those who purchased their main dish earlier. Stores may allow for more savings for customers as the days near the holiday grow closer and they need to move their remaining stock.

However, if your family does not enjoy the traditional turkey with all the fixings, there is data for an alternate version for the holiday meal as well. This meal includes boneless ham, russet potatoes, and frozen green beans in an expanded menu, removing the mashed potatoes and peas from the original meal plan. Adding these foods to the classic Thanksgiving menu increased the overall cost by $23.58 to $84.75.