Price of Thanksgiving Meal Drops for Second Year, But Remains Higher Than Pre-Pandemic
Some people might rue the Thanksgiving meal for the company at the table and the conversations that happen, but they can at least rest more easily about the cost of the food they’re offering, according to the American Farm Bureau Federation (AFBF).
The cost of the traditional U.S. Thanksgiving feast has gone down for the second consecutive year, according to an annual report released by the AFBF — but the two straight drops haven’t been enough to bring costs in line with those of five years ago. The cost for a classic meal for 10 people will run $58.08 — a price that’s down 5% from last year’s $61.17 but still 19% higher than five years ago. The cost of the Turkey Day meal reached an all-time high of $64.06 in 2022.
The data, which AFBF has collected for the past 39 years (since 1986), is collected in all 50 states and Puerto Rico by volunteer shoppers who visit their local store (or its web site) and survey the prices for one week each year (this year, it was Nov. 1-7). The report monitors the cost of turkey, cubed stuffing, sweet potatoes, dinner rolls, frozen peas, fresh cranberries, celery, carrots, pumpkin pie mix and crusts, whipping cream, and whole milk.
The Cost of Thanksgiving Meal Items, 2024
Consumers Hunt Deals on Thanksgiving Meals, and Other Turkey Day F&B Trends
Circana’s vice president of Thought Leadership, Joan Driggs, joins the Food For Thought podcast to discuss the trends driving Thanksgiving shopping for food and beverage products this year. Shoppers are not wavering on the products they want on this American food-fest of a holiday, and retailers and processors, fortunately, are stepping up to offer deals and make the cost a little more affordable for consumers.
Listen here!
The cost of the centerpiece turkey has come down $1.60 per pound, 6% lower than last year, to an average of $25.67 for a 16-pounder. USDA-AMS data cited in the release by AFBF said the average per-pound feature price for whole frozen turkeys declined further in the second week of November. All this despite the market challenges posed by avian influenza.
“The American turkey flock is the smallest it’s been since 1985 because of avian influenza, but overall demand has also fallen, resulting in lower prices at the grocery store for families planning a holiday meal,” said AFBF economist Bernt Nelson.
Beyond the bird, most items in the Thanksgiving meal basket saw declines in prices, with the cost of whole milk plunging more than 14% due to favorable weather conditions (though AFBF points out, milk prices vary significantly across different U.S. regions).
Processed items such as dinner rolls and cubed stuffing saw an 8% increase because of higher labor costs and other influences. Cranberries, which saw the second largest decrease in price from 2022-2023 (18%), ricocheted back up 12% year-over-year in 2024 — with the current price more reflective of historic norms on cranberry prices.
For an expanded Thanksgiving feast with additional options, AFBF shoppers add boneless ham, Russet potatoes and frozen green beans to the basket — which this year drove the cost up $19.26 to $77.34 for a meal for 10.
