Turkey Sales Have Gone To The Birds

The American Farm Bureau Federation (AFBF) estimates the average Thanks-giving meal for 10 people, will cost $44.61 this year, up 5.5% from last year, MSNBC reports. That includes a 9-cent a pound increase for turkey, AFBF said, adding that the cost of the meal was still less than the same meal 20 years ago, when stripping out inflation.

The seasonal sales boost however, won’t ease the industry’s sagging profit margins. Turkey producers say prices edged up slightly, but not enough to recoup the costs of raising the birds this year. Too much meat on the market, high prices for commodities and weaker demand from restaurants have also sliced into profits.

About 29% of all turkey consumed during the year is eaten during the holidays, industry figures show. That’s down from 50% in 1970 as more people ate turkey year- round, especially in the form of sandwiches and ground turkey. ❖