Buzz
If you've ever thought about skipping the grand Thanksgiving meal and opting for a frozen pizza, this could be the year to follow through. Just like many other consumer goods, turkey prices are expected to surge this year.
As reported by The Chicago Tribune, the average wholesale cost of a turkey weighing between 8 and 16 pounds has increased by 13% compared to last year. The USDA’s Turkey Market News Report (yes, this is real) disclosed last week that prices have risen to $1.41 per pound, up from $1.15 in 2020. The all-time high for turkey prices is $1.36 per pound, set in 2015.
Frustrated holiday hosts can point to a variety of factors such as labor shortages, supply chain problems, and an increase in home cooking during the pandemic, all contributing to a higher demand for meat. Even the corn that turkeys consume has seen its price more than double.
Inflation and supply chain issues are affecting side dishes as well. Pie crusts, cranberry sauce, and canned pumpkin are being rationed by certain distributors, with stores like Pete’s Fresh Market in the Chicago area receiving less stock than expected. Trader Joe’s has also acknowledged to the Tribune that shortages could be a “possibility.”
Be cautious about depending on less popular items. For instance, canned ham may be harder to find—not because it’s being snatched up, but because producers might reduce output on items with lower demand.
Should you hoard mashed potatoes like some people did with toilet paper? Probably not. However, market experts advise against waiting until the last minute to pick up your Thanksgiving essentials. By the eve of the holiday, you might notice that choices are becoming limited.
