WEST LAFAYETTE, Ind. (WLFI) — Across the country turkeys are quickly leaving grocery store shelves. This year shoppers can expect to pay less for their holiday bird. That's according to analysis performed by a Purdue agriculture economist.
Economist Chris Hurt said the drop in price is related to an abundant crop harvest this year and last year. He said this explains why grocery store prices are rising less.
Hurt recently released his analysis on what shoppers should expect. He says favorable production kept farm prices low. Which allows grocery store prices to also stay low.
The biggest bargains shoppers may notice is the cost for their main course. More grain crops mean low feed prices for the animal industry. He said you can expect turkey prices to drop 2 to 4 percent this year.
"I think we all recognize turkey is often used as a loss leader in grocery stores and so you may find some very good bargains on turkey where they're really promoting more store traffic and featuring turkey as very low prices," said Hurt.
For your sides including vegetables and fruit, that's running about one percent higher this year. Bakery products, sweets, and sugar prices stayed the same. Food prepared by others will be 2 to 3 percent higher. This includes eating at a restaurant and ready to eat foods.
"But overall, another abundant harvest we have for Thanksgiving," Hurt said. "This year, and again we can count our blessings for having an abundant food supply, and this year at very modest cost increases."
Hurt said this year shoppers should remember to thank farmers and food systems who produce their holiday meal.