The price of turkeys is up 20% year over year.
According to the U.S. Department of Agriculture (USDA), your Thanksgiving turkey this year is gonna cost you an arm (wing?) and a leg in comparison to years past.
Between the shortage of workers and the rising cost of farming necessities, prices have seen a jump of 20% year over year. Plus, more friends and families are spending the holiday together, most of whom they didn't see in 2020. So the demand for turkeys is also the reason behind the price surge.
Not only are the turkeys going to go up in price this year, but the rest of the items on your table will too.
"Nothing on that Thanksgiving table is really going to be spared," said Curt Covington, senior director of institution credit at AgAmerica Lending. Covington said you can expect around a 15% increase in the cost of a typical Thanksgiving table.
So, how much could you expect to spend on a turkey this year?
The USDA says a frozen 16-pound turkey (or less) will cost $1.41/pound—that's a 23% increase! If you're wanting your bird to be bigger than that, it'll cost you $1.39/pound—an increase of 20%.
If you've yet to get a turkey, we recommend calling your nearest grocery store and seeing what they have in stock. With the way things are going, you want to get your mitts on a turkey—and fast! Turkeys may be in short supply.
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