Turkey prices are sinking as the pandemic may keep some American families from hosting big groups this Thanksgiving.
The price of ingredients in a traditional turkey dinner for 10 people is down to the lowest level in a decade, driven largely by grocers discounting the meal’s centerpiece to attract customers, according to the American Farm Bureau Federation.
The drop in turkey prices 7% lower than last year for a 16-pound bird, according to Farm Bureau — comes as many retailers are preparing to sell a greater variety of food this year. More families are cash-strapped and grocery chains expect some to make new choices as they confront preparing the holiday meal for the first time without relatives’ help.
More than a third of Americans plan to spend less on Thanksgiving this year, according to a survey from mobile-rewards platform Ibotta Inc.