Price Of Turkey Hits 10-Year Low As Overall Cost Of Thanksgiving Feast Becomes 'Very Affordable,' Experts Say
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PHILADELPHIA (CBS) -- If you already bought your Thanksgiving bird and all the fixings to go with it, you may have noticed a subtle difference this year. You probably spent less on your holiday meal.
For many celebrating Thanksgiving, gathering with family is an important part of the tradition.
Of course, food is another important element. And we can't forget turkey.
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Ashley Brown uses an old family recipe to prepare theirs.
"A gallon of apple cider in there, a cup of kosher salt, a half cup of apple cider vinegar and one cup of brown sugar," Brown said.
And this year, families across the U.S. will be paying less for their holiday bird.
Purdue Agriculture Economics Department head Jayson Lusk says turkey prices are at a 10-year low this year, around $1.45 per pound.
A few years ago, that turkey on your dinner table would have been about 25 cents higher.
"Feed prices are low, the prices of corn and soybeans," Lusk explained. "And they've been low for a couple of years. So that means feeding livestock and poultry is much more affordable than it's been in the past."
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The U.S. Department of Agriculture predicts food inflation is going to remain flat this year. Cranberries are 30 percent cheaper than five years ago. Potatoes are about 60 cents per pound. The list goes on and on.
"If you add all that up together and you compare that to previous years, really, it looks like a Thanksgiving meal that's going to be very affordable," Lusk said.
According to the American Farm Bureau Federation, which conducts an annual survey of classic Thanksgiving day items, the average cost of this year's feast for 10 people is $48.90. That's a 22 cent decrease from last year.