Purdue News
Purdue News
|
|
November 12, 1999 Expert: Expect fewer turkeys for Thanksgiving dinnersWEST LAFAYETTE, Ind. – This year's Thanksgiving dinner will cost only slightly more than last year's, but Purdue University economists recommend against waiting until the last minute to purchase the turkey. "Turkey producers have reduced supplies after several nonprofit years," said Lee Schrader, professor emeritus of agricultural economics. "As a result, wholesale turkey prices will be about 5 cents per pound higher than last year, and retail prices will be somewhat higher as well." Although the supply of turkeys available for the holidays is somewhat smaller than last year, retailers are expected to run specials on turkey. "The price specials should be well under the retailer's costs, providing shoppers opportunities for an economical Thanksgiving dinner," Schrader said. For those willing to break with tradition, there's a plentiful supply of pork and chicken, and both are selling at good prices during this holiday period, he said. Other holiday foods are generally in abundant supply at prices only slightly higher than last year, said Joe Uhl, professor of agricultural economics. "Food shoppers have much to be thankful for this year," he said. "In a year of weather extremes, we have had unusually low food price increases." Retail grocery store prices are rising at a 1.6 percent annual rate so far this year, compared to 2.1 percent in 1998 and 2.3 percent in 1997. Uhl attributed the lower increases in food prices to record meat and grain supplies; low inflation of food marketing costs; rising food imports; and sluggish food export markets. He said U.S. consumers will spend about 11 percent of their income on food this year, the lowest percentage for any country in the world. Grocery store prices of holiday food staples are mixed. Orange prices remain high as a result of last winter's California freeze. Apples, potatoes and most dairy products cost more than last year. However, Uhl said, holiday shoppers will see lower prices on cranberries, grapes, nuts, eggs, butter and coffee. And to round out the holiday feast, there will be plenty of pumpkins for pie. "Pumpkins are plentiful, though they are smaller as a result of the dry weather last summer," he said. Sources: Joseph Uhl, (765) 494-4219; uhl@agecon.purdue.edu Lee Schrader, (765) 494-4302 Writer: Beth Forbes, (765) 494-2722; bforbes@aes.purdue.edu Purdue News Service: (765) 494-2096; purduenews@purdue.edu
|
