Turkey Prices Lower Heading Into Thanksgiving

With Thanksgiving less than a week away, the USDA is out with some encouraging news for those of you looking to prepare the big meal.

“People who are shopping for turkeys for their holidays are likely going to see some good deals out there," noted economist Michael McConnell.  However he added the news is not so good for those folks who raise and market those turkeys they've been seeing dramatically lower wholesale prices.

“In 2024, we're forecasting the average pen price to be $0.94 per pound. That's in comparison to last year where we had an average of $1.40. Per pound, so a pretty stark decline.” 

McConnell continued consumer demand for turkey has slowed in recent years, causing a buildup of turkey supplies and a big reduction in prices.  So, producers have been trying to cut production, trying to get supply and demand back into balance.  McConnell said the hope is by next Thanksgiving these efforts will provide ample supplies of turkeys for consumers and a fair price for turkey producers. 

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