Brandon Parsons Breaks Down the Real Story Behind Falling Thanksgiving Food Prices in Fox News
Americans are finally seeing relief at the Thanksgiving table this year, as falling turkey prices help drive down the overall cost of the traditional holiday meal. In a recent Fox News feature, Pepperdine Graziadio faculty member Brandon Parsons offered insight into the economic forces behind this shift, noting that turkey production has increased and avian flu concerns have eased, contributing to a stronger supply and lower prices.
According to new data from Wells Fargo and the American Farm Bureau Federation (AFBF), the average cost of a standard Thanksgiving feast is down 3% to 6% from last year, with the South reporting the lowest regional average at $50.01. Lower turkey costs are driving much of the decline: national brand frozen turkey prices dropped 16% to an average of $21.50 for a 16-pound bird, reducing turkey’s share of total meal cost to just 39% — the lowest portion in 25 years.
Parsons explained that while turkey and wheat products have benefited from improved production conditions and lower input costs, not all categories are experiencing relief. Produce remains volatile, with sweet potatoes up 37%, fresh vegetable trays up 61%, and carrots and celery rising to $1.36 per pound. Weather challenges, farm labor shortages, and regional supply shocks are key contributors to these increases.
Despite some lingering price pressures, many major retailers are offering competitive discounts, free turkey promotions, and bundled holiday deals to help families keep costs manageable. Walmart, Aldi, Lidl, Target, and others are advertising their most affordable Thanksgiving meals in years, with some dinners feeding up to 10 people for as little as $3.60 per person.
While Americans are benefitting from lower turkey prices and strategic retailer promotions, experts caution that temporary seasonal discounting doesn’t signal an end to broader food inflation. As Parsons noted, understanding the full picture requires looking beyond one holiday staple and examining the broader supply-and-demand dynamics shaping grocery prices nationwide.
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