This year’s Thanksgiving meal will cost a little less, according to a new report. A survey released by the New York Farm Bureau shows the average holiday dinner will cost $44.74, which is $1.89 less than last year.
The bureau sampled prices on 12 common Thanksgiving food items across different regions of the state. Turkeys, pie crust, and select produce are among the items that have dropped in price, with the cost of turkey down more than nine percent, on average, to $1.34 per pound. The price drop, it says, is reflective of national data.
Farm Bureau Public Affairs Manager Steve Ammerman said the number of Thanksgiving turkeys this season is playing a role in the lower cost.
“There’s an abundance supply of turkeys out there on the market,” Ammerman said. “So, of course, when it comes to supply and demand, anytime you have a larger supply, you’re going to find a lower price. We found that this year the average price for a 16-pound turkey is just over $21, which is about a dollar less than last year.”
Though shoppers will benefit from the overproduction, Ammerman says farmers may be negatively affected.
“Anytime that they are receiving less money than they are producing, then that’s more of a struggle on their bottom line,” he said. “Other things aren’t any cheaper than they used to be—things like labor, energy costs are still high. Certainly taxes and other regulatory fees that they pay aren’t dropping.”
Ammerman says the trend could continue to affect prices moving into 2018.