Thanksgiving 2023: How much will a Thanksgiving turkey cost this year?
The most dreaded holiday for turkeys is just around the corner, but the quintessential centerpiece of Thanksgiving feast will be more affordable this year.
Thanksgiving is fast approaching so it’s time to start making plans for what will be served at this year’s feast. With around 88 percent of Americans telling the National Turkey Federation that they eat turkey at their Thanksgiving meal, knowing what one is going to cost this year will help working out your budget for all the fixings to decorate the table.
Americans will be relieved to know that retail prices for the star attraction on the table are down drastically from last year. This year’s Thanksgiving report from the Wells Fargo Agri-Food Institute found that “there’s been a big collapse” thanks to an over abundance of gobblers which means “celebrating Thanksgiving at home will be more advantageous this year for families,” according to chief agriculture economist Michael Swanson.
How much will a Thanksgiving turkey cost in 2023?
The retail turkey prices were down about 13 percent in October compared to the same month last year. The average store price for a 10-to 15-pound fresh whole bird was $1.40, 22 cents cheaper than in 2022. However, shoppers may get an even better deal as the holiday gets closer.
“Historically we see a big drop in the two weeks before Thanksgiving,” Swanson told CNN. Stores figure that customers will be drawn in by the irresistible price for the star of the holiday feast and leave with much more than they had planned to buy.
But if you don’t want to break the bank, shop around to see where you can get the best deals on the remaining items that are a must have for your Thanksgiving meal. That’s because, while turkey is cheaper this year, other staples for your table may be much more expensive.
Take for example canned cranberries, which are up nearly 60 percent over last year. There’s good news though if you’re a person that doesn’t mind a little extra work. You can pick up fresh cranberries and make homemade cranberry sauce as they are expected to be 20 percent cheaper than last year.
Research says that the bad news should come before the good news, however, on the downside, overall canned foods are expected to be more expensive than last year due to rising labor and packaging costs according to Swanson. But perhaps there is a silver lining, keeping in mind that stores should have ample stock this year of all of your Thanksgiving needs, Swanson says that as the holiday approaches you might see more deals to attract your dollars as grocers compete with each other.