The 2015 Thanksgiving dinner will cost about $1 less to prepare than in years past, largely due to a decline in the average cost of frozen turkey and a gallon of whole milk.
According to Arkansas Farm Bureau’s 30th annual survey, this year’s feast will cost $45.25 for a family of 10, or $4.52 per person. Last year’s average was $46.23.
The statewide average is based on responses from members of the Farm Bureau Women’s Committee and other volunteers who surveyed food prices at 11 grocery stores and supermarkets across the state. They were asked to report the “best in-store price” of 12 items included in the meal. They are allowed to take advantage of advertised specials, excluding discount coupons and purchase requirements.
Arkansas Farm Bureau President Randy Veach said the fact consumers continue to enjoy the holiday meal for less than $5 a person, on average, is evidence of the efficiencies of our food production system.
“Food remains abundant and affordable in America,” Veach said. “Despite the fact Arkansas farmers and ranchers had to overcome the effects of flooding in the spring, followed by drought conditions that lingered well into the harvest this fall, they are still able to hold down their cost of production.
“We are benefiting from lower fuel and transportation costs compared to a year ago and this contributes to more stable food prices. As we do each Thanksgiving, American families will be able to enjoy this meal and share it with those who are not as fortunate. That is truly reason to give thanks.”
Arkansas food prices continue to remain more affordable compared to other states. American Farm Bureau’s national survey assessing price trends across the country reported an average of $50.11 for a family of 10.
Though unscientific, the survey provides a snapshot of actual prices across Arkansas and the nation. The survey period was Oct.31-Nov.12. The shopping list has remained unchanged since 1986 to allow consistent price comparisons.
Travis Justice, chief economist for Arkansas Farm Bureau, attributes the drop in price primarily to the ability of farmers and ranchers to adjust to a variety of challenges.
“This year was no different as farmers coped with international demand issues, production problems, varying input costs and the weather,” Justice said.
“The convergence of all these and other market factors ultimately are reflected in the prices consumers pay for food.This year’s Thanksgiving meal survey certainly bore that out.”
The average price of a 16-pound young tom turkey this year is $17.40 ($1.09 per pound), compared to $18.08 in 2014. American Farm Bureau reported an average of $23.04 or $1.44 per pound.
“In response to the dispersal of a significant portion of the national flock this past spring due to avian influenza, the price for live turkeys had been averaging higher than a year ago,” Justice explained. “However, adequate inventories of frozen birds before the A.I. outbreak and pre-holiday discounts offered by many food retailers, are the primary reasons for the drop in price this year.”
Another major driver of the survey is the cost of a gallon of whole milk. This year’s average price dropped 20 cents to $4.05. Also contributing to the lower price for the meal was a 36-cent drop in the cost of a 1/2-pint carton of whipping cream and 34-cent drop for three pounds of sweet potatoes.
Other items included in the meal that saw a decrease in price were a two-count package of frozen pie shells, package of frozen green peas and the combined average cost of miscellaneous items included in the meal such as coffee, eggs, flour and butter, which dropped 30 cents.
Items that saw price increases include cubed stuffing, a 30-ounce can of pumpkin pie mix, 12-count package of brown and serve rolls, a 16-ounce package of frozen green peas, a pound of fresh carrots, a bunch of celery, and a 12-ounce package of cranberries.
Click the table below to enlarge to see a price comparison of common Thanksgiving dinner items:
