USDA predicts lower prices for Thanksgiving turkeys

Turkey, the main item on many Thanksgiving dinner menus, should cost consumers less this year. The US Department of Agriculture is predicting that wholesale prices for Eastern market whole turkeys will be between $1 (€0.74) and $1.06 (€0.78) per pound (453.59g) in the fourth quarter, compared with $1.06 per pound in 2012.

Purdue Extension agricultural economist Corinne Alexander said it’s important for consumers to remember that the way wholesale prices translate to retail prices depends on individual retailers. The actual price paid also will vary depending on whether a shopper chooses a whole turkey or turkey parts; frozen or fresh birds; fresh, precooked or complete turkey meals; brand names; and the value of store coupons and price specials.

Often grocers will offer turkeys at a deep discount to encourage shoppers to purchase their other Thanksgiving items at a particular store, Alexander said.

“Because turkey is a favorite loss leader, that’s one of those items where savvy shoppers can look to coupons and store specials to really find the best price possible for their Thanksgiving turkey, and then the rest of the items for their Thanksgiving meal,” she said.

The average American spends about 10% of their income on food.