Thanksgiving dinner will cost less than it did last year, but still more
expensive than before the pandemic, according to the American Farm Bureau Federation’s annual survey of the average cost of the classic holiday feast for 10, which is $58.08 or about $5.80 per person.

This is a 5% decrease from 2023, which was 4.5% lower than 2022. Two years of declines don’t erase dramatic increases that led to a record high cost of $64.06 in 2022. Despite the encouraging momentum, a Thanksgiving meal is still 19% higher than it was in 2019, which highlights the impact inflation has had on food prices – and farmers’ costs – since the pandemic.

The centerpiece on most Thanksgiving tables – the turkey – helped bring down the overall cost of dinner. The average price for a 16-pound turkey is $25.67. That is $1.60 per pound, down 6% from last year.

Meanwhile, National Farmers Union totaled up the costs of Thanksgiving dinner staples in the grocery store, compared to what farmers receive. NFU apparently shopped at a more expensive store than AFBF – they report a price of $2.42 per pound for a 16-20 lb turkey. But, NFU says the farmer’s share of that Butterball Frozen Turkey is only $0.06 – six cents a pound.

“This Thanksgiving, as we celebrate with friends and family, we must also acknowledge the challenges our food producers face. Family farmers and ranchers deserve a fair share of the consumer dollar,” said NFU President Rob Larew.