Butterball CEO: Larger turkeys in demand this year
The average cost of a 16-pound Thanksgiving turkey is 5.56% cheaper vs 2022
Turkey supply is in 'great shape' ahead of Thanksgiving: Jay Jandrain
Butterball President and CEO Jay Jandrain reveals key parts in cooking the perfect turkey on 'The Claman Countdown.'
Families are going bigger on their Thanksgiving turkeys this year as Americans return to the way they celebrated pre-pandemic, according to Butterball CEO Jay Jandrain.
"We expect bigger turkeys this year because we are going to have bigger groups," Jandrain said during an interview on "The Claman Countdown." "People are travelling more this year. They are able to get back to celebrating with their friends and family that maybe they didn’t do the last couple of years."
THANKSGIVING DINNER IN 2023 CHEAPER THAN LAST YEAR, BUT PRICES REMAIN AT HISTORIC HIGHS
The average cost of a 16-pound Thanksgiving turkey is 5.56% cheaper vs. 2022. (Smith Collection/Gado/Getty Images / Getty Images)
DEEP-DISCOUNT STORE CHAIN OFFERING 99-CENT TURKEYS FOR ONE DAY AHEAD OF THANKSGIVING
"When you can buy a turkey for about a dollar per pound, compare that to any other protein, and it's really hard to come up with a solution that is going to be better than that from an economic standpoint," added the exec.
While the cost of the classic holiday meal remains elevated, the overall Thanksgiving dinner will be roughly 4.5% cheaper this year compared to 2022, an American Farm Bureau Federation survey showed. The average cost of a 16-pound turkey is 5.56% cheaper than last year.
Meanwhile, prices for red meat — non-traditional Thanksgiving fare — remain elevated, with beef and veal up nearly 9% in October month-over-month, steak up 10.6% and ground beef up 7.9%, according to the consumer price index for October.
Whole frozen turkeys may become even more affordable leading up to Thanksgiving. (Yichuan Cao/NurPhoto via Getty Images / Getty Images)
TARGET MAKES LOW-COST THANKSGIVING MEAL AN OPTION FOR CUSTOMERS
Americans will spend an average of $61.17 on a meal for 10 people — about $6.12 per person — this holiday season, which is $2.88 cheaper than last year's record-high average of $64.05. The average Thanksgiving meal is still about 25% more expensive than it was in 2019.
For one day only, select 99 Cents Only Stores will be offering 99 cent turkeys. (Robert Nickelsberg/Getty Images / Getty Images)
After the turkey, the remaining sides for 10 eaters included stuffing, sweet potatoes, rolls with butter, peas, cranberries, a veggie tray and pumpkin pie with whipped cream. All categories were priced to feed a group of 10 with a little extra for leftovers.
Thanksgiving Sides – Average Cost 2023
- 14 ounces of cubed stuffing mix: $3.77 (-2.8%)
- 2 frozen pie crusts: $3.50 (-4.9%)
- Half pint of whipping cream: $1.73 (-22.8%)
- 1 pound of frozen peas: $1.88 (-1.1%)
- 1 dozen dinner rolls: $3.84 (+2.9%)
- Misc. ingredients to prepare the meal: $3.95 (-4.4%)
- 30-ounce can of pumpkin pie mix: $4.44 (+3.7%)
- 1 gallon of whole milk: $3.74 (-2.6%)
- 3 pounds of sweet potatoes: $3.97 (+3%)
- 1-pound veggie tray (carrots & celery): $.90 (+2.3%)
- 12-ounce bag of fresh cranberries: $2.10 (-18.3%)
GET FOX BUSINESS ON THE GO BY CLICKING HERE
FOX Business’ Breck Dumas contributed to this report.