You've got just over a month to plan your Thanksgiving dinner for 2025. As you do so, though, you might want to pay more attention than usual to prices.
Turkey, the centerpiece of most Thanksgiving meals, is significantly more expensive compared to last year. The U.S. Department of Agriculture, in a September report, found that wholesale prices for frozen turkeys were 40% higher than a year ago. That works out to $1.32 per pound, compared to $0.94 in 2024.
Normally, the Agriculture Department would have updated those numbers on Oct. 16, but the government shutdown has put those reports on pause.
Slightly weaker demand and a new surge of bird flu cases have impacted the supply chain for turkeys, which has helped drive prices higher.
The big question for most consumers, though, is how those higher wholesale prices will affect their holiday planning. That's something that won't be known for certain for a few weeks, when grocery stores begin rolling out their Thanksgiving discounts. History, though, is on your side.
Many retailers tend to use turkey as a loss leader to get shoppers into the store, where they’re likely to buy more than usual. Walmart $WMT has already announced it will sell Butterball turkeys for 97 cents per pound, in a promotion that will last through Dec. 25. That's the lowest price in six years.
And several retailers are once again offering deeply discounted meal packages. Walmart is offering a bundle with more than 20 items serving 10 people for less than $40. Aldi is offering a similar deal. And other retailers are expected to announce their own versions in the weeks to come.