Why is Turkey So Expensive in 2023?

As Thanksgiving approaches, many of us are starting to plan our holiday meals. For most families, the centerpiece of Thanksgiving is a roasted turkey. However, this year turkey prices are significantly higher than previous years. In this article, we’ll explore the reasons why turkey is so expensive in 2023.

Shortage of Turkeys Due to Avian Flu

One of the main drivers of high turkey prices is the avian influenza outbreak that has impacted poultry farms across the country. The highly pathogenic avian influenza (HPAI) wiped out millions of commercial turkeys beginning in early 2022. This massive disruption to supply has led to fewer turkeys being available for Thanksgiving 2023.

With 7 million turkeys lost to avian flu, the supply is down 9.7% compared to last year according to the USDA. This reduction in supply is putting upward pressure on prices. Many poultry farms that normally raise turkeys were impacted by flu outbreaks and have not been able to ramp up production fast enough to meet demand.

Rising Costs for Turkey Farmers

In addition to supply shortages, turkey farmers have been facing significantly higher costs in 2023. Prices for turkey feed, fuel, labor and transportation have all increased substantially. These higher expenses get passed along to consumers in the form of pricier turkeys at the grocery store.

Corn and soybean meal are two of the main ingredients in turkey feed. Drought conditions have reduced yields for these crops, leading to higher feed costs. Fuel prices are also considerably higher than last year, increasing transport expenses. Farmers have had to raise wages to attract employees during a competitive labor market. All of these factors contribute to more expensive turkeys in 2023.

Increased Demand for Smaller Birds

Another trend driving up turkey prices is the strong demand for smaller birds this year. Higher prices have led many shoppers to opt for smaller turkeys to help control costs. This is putting more pressure on the limited supplies of smaller 10-16 pound birds.

With more families looking to downsize their main course, an imbalance has formed between demand and availablity for petite turkeys. There is much stronger competition to purchase the smaller turkeys, which has driven prices higher on a per-pound basis.

Impact of General Inflation

Like most goods and services, turkey prices have also been impacted by broader inflationary trends in the economy. The U.S. has seen inflation rates hit 40-year highs in 2022. Food prices specifically have risen over 10% year-over-year. Turkey is not immune to these widespread increases in the costs of goods.

Higher prices for items like packaging materials, transportation, and labor have driven up overall production costs for turkeys. Even though some specific cost factors have eased, such as feed prices, the cumulative effect of inflation has kept turkey prices elevated.

Strategies for Affording Turkey This Year

With turkey commanding premium prices this year, many shoppers are employing different tactics to try and control costs. Here are some tips for keeping your Thanksgiving turkey affordable

• Consider buying a whole frozen turkey well in advance – this is often the least expensive option on a per-pound basis.

• Check prices at multiple stores – discount grocers like Aldi often have the best deals.

• Be flexible on turkey size – opt for whatever size is cheapest per pound, even if it’s larger than you need. Leftovers can be frozen.

• Search for turkey promotions or coupons as Thanksgiving approaches – retailers often run specials.

• Buy an alternate main dish item, like a bone-in ham or roast.

• Cook a turkey breast instead of a whole bird if your gathering is smaller.

• Skimp on side dishes or desserts to allocate more budget to the turkey.

While turkey prices are elevated this year, a little savvy shopping can help make this Thanksgiving bird more affordable. Following consumer shopping trends and being flexible will go a long way towards controlling costs. With any luck, turkey supplies will rebound in coming years and prices will stabilize. Here’s hoping your family can still enjoy a delicious and moderately priced Thanksgiving turkey this season!