One More Reason to Give Thanks: Falling Turkey Prices
“U.S. turkey production seen rising to second-highest ever”
It is the time to celebrate Thanksgiving Day, a national holiday in the United States. And what cannot be missed on the dinner table is——turkey, of course!
This year, good news for ordinary American people is that the Thanksgiving feast will cost less than last year as turkey prices go done. It is mainly because the boom of turkey production this year due to low feed costs, according to the Bloomberg’s article. This article also uses solid data and a clear table to show the changes in turkey production and prices, as well as Americans’ average spending on Thanksgiving meal in recent ten years.
Food business is always a global story and connected to common people’s life, which is the same in the turkey story. The decline of turkey prices first benefit consumers, as it is a tradition for American people to buy turkey for the annually Thanksgiving dinner. But for the turkey retailers, such as grocery stores and supermarkets, it becomes complicated. On one hand, they will earn less profit from each turkey as the drop of prices. Nevertheless, on the other hand, they may probably sell more turkeys and get cheaper turkeys from the farm due to the increase of turkey production. This situation is similar to turkey farmers.
The decrease of turkey prices is only a part of food price deflation in the United States. According to another article published by the Wall Street Journal (http://www.wsj.com/articles/food-price-deflation-cheers-consumers-hurts-farmers-grocers-and-restaurants-1472490823), America has suffered a long time of falling food prices this year. This is caused by the excess supply in some staples. And more globally, it is due to the inflation of dollar, which harms US’s exports of food products as other countries’ demand for those products reduces.
But anyway, for many ordinary American people, they can enjoy a relatively cheaper Thanksgiving turkey!