Showing posts in November, 2014

Let’s Talk Turkey

As we all know this week’s holiday has a big impact on certain areas of agriculture, more specifically, turkey production.  If you had to guess how many pounds of turkeys have been produced so far this year what would it be?  750,000 pounds?  1 billion pounds?  Would you have guessed 4.2 billion pounds?  That’s right, so far 4.239 billion pounds of turkey has been produced this year.  Although that may seem like a staggering number it is actually down 3.3% from last year at this time.

It is estimated that Americans will consume about 46 million turkeys for Thanksgiving this year even though the supply is down.  As we know from basic economics, when demand goes up and the supply goes down, the prices are going to be increasing.  The current price per pound is $1.24 which is up 16% from a year ago.  With these high prices stores are looking for a way to entice shoppers to buy from them.  West Des Moines, Iowa based Hy-Vee is giving away a 10-14 lb. turkey to anyone who purchases a ham until Thanksgiving.  Many other stores are running promotions of their own varying from discounts to free turkeys with the purchase of $20.00 in groceries.

Although turkey prices are higher this year, experts do not anticipate consumption rates to be lower this Thanksgiving.  Last year it cost around $49.04 to feed a group of ten people a traditional Thanksgiving meal which was the lowest since 2010.  No matter what you have for Thanksgiving this year, whether it is ham, beef pork or turkey, we hope you all have a delicious and wonderful Thanksgiving feast without breaking your budget!