Prices for turkey, a Thanksgiving staple, have increased more than prices for most other grocery store foods in recent years. From 2005 to 2011, average retail turkey prices increased by 47 percent, while food-at-home prices rose by 13 percent. Higher feed costs and energy prices led producers to reduce turkey inventories, driving up retail turkey prices. However, average turkey prices fall every year near Thanksgiving, and most years, retail turkey prices are at annual lows in November or December. Prices of other Thanksgiving foods have not followed similar trends. Potato prices, for example, have increased more in line with food-at-home prices and do not show a strong seasonal pattern. More information on food price changes and forecasts can be found in ERSs Food Price Outlook data product, updated October 25, 2012. For more information on the U.S. turkey sector, visit the Poultry & Eggs topic page on the ERS website.
See the ERS Charts of Note.