THANKSGIVING DINNER TO COST LESS
TFB Thanksgiving Meal Report shows decrease in prices for 2014
(WACO, Texas)—Family, fun and cost-savings are on the menu this month as shoppers prepare for the holiday season. A traditional, Texas-style Thanksgiving dinner for 10 will cost $46.79 this year, marking nearly 3 percent savings over last year, according to the special Texas Farm Bureau (TFB) 2014 Thanksgiving Meal Report.
The 2014 report shows a decrease of $1.29, or 2.68 percent, from the 2013 TFB Thanksgiving Meal Report. The survey records the cost of 10 holiday staples—including turkey, stuffing, sweet potatoes, cranberry sauce and pecan pie—to feed a family of 10 people.
“Texans are sensitive to grocery prices, especially when preparing large meals. This year, shoppers will notice a slight decrease in the overall price of their Thanksgiving meal,” TFB President Kenneth Dierschke said.
Despite reports suggesting a decrease in turkey supplies, Texas shoppers shouldn’t feel the pinch at the cash register. Survey shoppers found the price of a 16-pound, frozen, self-basting, young tom turkey to be more than $1 less than last year, marking a 6.11 percent decrease.
In addition to the turkey, five other items decreased in price: brown and serve rolls, 12 per package (down 8.33 percent); green beans, frozen (down 6.08 percent); 9-inch pie shells, frozen (down 3.73 percent); cubed stuffing, herb seasoning (down 1.83 percent); and pecans, shelled and halved (down 1.23 percent).
A large, global supply of wheat is a driving factor in low prices for wheat-derived products. And recent rains have helped pecan growers come out of the drought, dropping pecan prices to the lowest since 2010.
“Lower pecan prices and lower wheat prices mean a less expensive pecan pie—a Texas tradition—to round out Thanksgiving dinner,” Dierschke said.
Texans, however, will pay more for four of the Thanksgiving staples this year: whipping cream (up 22.7 percent); sweet potatoes, fresh (up 4.44 percent); cranberry sauce, jellied (up 2.96 percent); and whole milk (up 1.05 percent).
Global demand for milk and milk products remains steady, Dierschke said, but prices are still fluctuating for U.S. consumers.
“Farmers and ranchers ensure Texans can serve their families a well-balanced meal at an affordable cost,” Dierschke said. “That allows Texans to gather around the table to enjoy the company of family and friends and reflect on the things for which we are grateful.”
TFB’s fourth quarter Grocery Price Watch survey, taken in conjunction with the 2014 Thanksgiving Meal Report, indicated a slight increase of 1.22 percent for household staples from the third quarter. Results from the quarterly survey of 16 common food products increased 61 cents from $49.88 in the third quarter to $50.49 in the fourth quarter of this year.
TFB’s Thanksgiving Meal Report and Grocery Price Watch prices were reported by 38 volunteer shoppers at grocery stores statewide from Nov. 4-11. TFB has released its Grocery Price Watch survey quarterly since March 2009.
For a detailed list of prices from the current and previous Grocery Price Watch surveys, please download the accompanying high-resolution chart.