Supply chain issues have not spared the availability and prices of frozen turkeys according to a new USDA report titled, the 'Turkey Market News Report,'. The phenomenon of 'meatflation' is now a factor when it comes to U.S. consumers' Thanksgiving dinner plans.
U.S. Department of Agriculture data released Monday, shows that the price of a frozen whole-body turkey is 20.2% higher than last year and about 35% more than the prior 3-year average.
Supply chain bottlenecks and labor shortages are the primary causes of price increases of fresh whole turkeys which are currently $1.44 per pound and frozen whole turkeys which are $1.35 per pound.
The amount of live turkeys slaughtered under federal inspection is down 6% from 2020 to 4.4 million year-to-date, and turkeys were 61.1% out of stock at the end of October, a 30-percent increase from the same time last year, according to market research firm IRI.
So this Thanksgiving, consumers may also want to be thankful for the ability to purchase a turkey.