U.S. turkey prices are expected to be much higher this year compared to the last couple of years, as well as in much higher demand.
Wells Fargo did the math and found that a turkey in 2021 is 25% more than last year, and 50% more than the recent five year average.
Thanksgiving of 2020 was the lowest priced Thanksgiving since 2010 where the average price for a dinner of ten was $46.90. That’s under $5 per person.
It was even lower than 2019’s $48.91 average for ten people.
Last year’s prices were so low because turkeys were so cheap, and they’re the most expensive item on the menu.
A lot of times stores will offer coupons or “free with purchase” deals in order to sell more product, but that’s unlikely this year due to the supply issues.
It isn’t just the pandemic causing these issues- some whole turkey production plants shut down in 2019 and 2020.
There is a bigger demand for products needed for holiday dinner this year as well because families are ready to celebrate bigger than normal after not being able to last year.
Related: Thanksgiving dinner, turkey and all, may be the most expensive ever. Here’s how to save money
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