|  FOR
IMMEDIATE RELEASE
LOUISVILLE, KENTUCKY: A traditional Thanksgiving dinner
with turkey, stuffing, cranberries, pumpkin pie and all the trimmings,
increased slightly in price this year, but still remains affordable, according
to the American Farm Bureau Federation.
In AFBF's 20th annual informal survey of the price of basic items found
on the Thanksgiving Day dinner table, the average cost of this year's
feast for 10 is $36.78, a $1.10 price increase from last year's survey
average of $35.68.
"When the Stallman family gathers to eat our turkey dinner this
year, we will certainly be thankful for the bounty produced by America's
farm and ranch families," said AFBF President Bob Stallman. "I
encourage all Americans to take a moment during their Thanksgiving celebrations
to recognize the role our farmers and ranchers play in producing an abundant,
affordable and safe food supply throughout the year. In spite of significantly
higher expenses farmers are facing this year due to energy costs, the
bounty and affordability of the Thanksgiving meal remains something we
can all celebrate."
The AFBF survey shopping list includes turkey, stuffing, sweet potatoes,
rolls with butter, peas, cranberries, a relish tray of carrots and celery,
pumpkin pie with whipped cream and beverages of coffee and milk, all in
quantities sufficient to serve a family of 10.
The cost of a 16-pound turkey, at $15.11 or roughly 94 cents per pound,
reflects an increase of 5 cents per pound, or a total of 88 cents per
turkey compared to 2004. This is the largest contributor to the overall
increase in the cost of the 2005 Thanksgiving dinner.
"To the extent there was a small increase in the nominal cost of
the Thanksgiving dinner, up 3 percent from 2004, most of it can be attributed
to higher energy prices which affect processing, packaging, refrigeration
and shipping costs," said AFBF Senior Economist Terry Francl. "Farm
Bureau volunteer shoppers are asked to look for the best possible prices,
without taking advantage of special promotional coupons or purchase deals,
such as spend $50 and receive a free turkey. The average price of turkey
remains less than a dollar per pound again this year, an amazing value
any way you slice it," said Francl.
According to Francl, data available from the Agriculture Department on
last year's whole, frozen turkey indicates that four out of five turkeys
were sold on a holiday special. Based on those advertised specials, USDA
found that the prices paid for whole, frozen turkeys in November 2004
were two-thirds of what consumers paid for the same turkeys during the
other 11 months of the year. That means many consumers probably purchase
Thanksgiving turkeys for considerably less than the AFBF survey's average.
Other items showing a slight price increase this year included: a gallon
of whole milk, $3.09; a 30-oz. can of pumpkin pie mix, $1.86; a 16-oz.
package of frozen green peas, $1.38; a 12-oz. package of cubed stuffing,
$2.27; two 9-inch pie shells, $1.89; and a 12-oz. package of brown-n-serve
rolls, $1.64. The price of a combined pound of celery and carrots, used
for a relish tray, increased to 59 cents.
Items that decreased slightly in price this year were: sweet potatoes,
$2.56 for three pounds; fresh cranberries, $1.84 for a 12-oz. package;
and a half-pint of whipping cream at $1.51.
A combined group of miscellaneous items, including coffee and ingredients
necessary to prepare the meal (onions, eggs, sugar, flour, evaporated
milk and butter), increased by 14 cents to $3.04.
Francl said throughout the years, Americans have enjoyed very stable
food costs. "The inflation-adjusted cost of a Thanksgiving dinner
has hovered within a few cents of $20 for the past 15 years. This is indicative
of the continued ability of American farmers to provide safe and wholesome
food products in a very efficient and cost-effective manner," he
said.
Bargain shoppers in all areas should be able to purchase individual menu
items at prices comparable to the Farm Bureau survey averages. Ready-to-eat
Thanksgiving meals for up to 10 people, with all the trimmings, are increasingly
available at some supermarkets and take-out restaurants for around $40
to $50, providing another option for busy families.
The AFBF survey was first conducted in 1986 when the average cost of
a Thanksgiving meal for a family of 10 was $28.74. This year's actual
cost of $36.78 is $19.04 in 1986 inflation-adjusted dollars. While Farm
Bureau does not make any statistical claims about the data, it is a gauge
of price trends around the nation. A total of 108 volunteer shoppers from
30 states participated in this year's survey. Farm Bureau's survey menu
has remained unchanged since 1986 to allow for consistent price comparisons.
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