With Thanksgiving just weeks away, wholesale turkey prices are $1.68 per pound compared to ninety-nine cents a pound a year ago.
Economist Professor, David Anderson, says there are two factors contributing to the spike. One factor is the resurgence of the avian influenza, HPAI, and lower overall turkey production, reducing supplies increasing prices.
“Certainly, that (HPAI influenza) has continued to happen, and we have had a bunch more cases here in just the last month or two. It really cuts into our turkey numbers at a real, critical time. That spot market jumping like that, I think really reflects the supply side, also inflation and the overall a critical here they are, to where they produced, from where we buy them.” He explained.
The Economy Professor also points out shoppers are likely to find lower prices on some items like pumpkin filling, cranberries, milk, butter, cheese, and eggs compared to last year due to higher production.
On the other hand, potatoes reflect an increase. Russet potatoes were eighty-four cents and yellow gold potatoes eighty-seven cents. Russet potatoes are now ninety-eight cents and yellow gold are eighty-seven cents a pound.
Anderson recommends doing a little research ahead of your trip to the grocery store. He says there are many buy one get one deals, along with deals on packaged meals. Usually, stores will have deals online, or by using their apps.
“It looks like some of the lighter birds, under 16 lbs. are a little bit cheaper than compared to a year ago. “Anderson said.
He said if you wait until the last minute, you can get a great deal if the store wants to move the turkey, the only problem is making sure there is enough time allowed to thaw the turkey.
Also, people are taking advantage of using a smokehouse or picking up a to-go order from a restaurant, where you will see an increase in prices from last year- no doubt. For some designated holiday chefs this season, the convenience and less clean-up is worth it.