Farm Groups Differ On Thanksgiving Dinner Affordability

The nation’s two largest farm organizations are out with their annual surveys surrounding the traditional Thanksgiving dinner, with different takes on how–or if–farm families are benefiting. The American Farm Bureau’s annual survey tracking the cost of the traditional Thanksgiving dinner for ten people dropped four percent from last year’s total. Chief Economist John Newton says the cost of that dinner continues to be less than 50 dollars…

 

Newton says the survey reflects changes in commodity prices this year, most notably a 16-percent drop in the price of whipping cream. While the American Farm Bureau says the survey results show Thanksgiving dinner becoming more affordable, the National Farmers Union says overall food prices are higher, and farmers aren’t seeing that return.

NFU’s annual survey of the farmers’ share of the Thanksgiving dinner says farmers will on average earn 11-point-nine cents for every dollar spent on the meal, slightly lower than last year’s figure of 12-point-two cents. President Rob Larew says the food inflation rate of four percent over the last year is nearly triple the rate of overall inflation, and couldn’t come at a worse time for American families.

 

Larew says that instead of farmers receiving more of the income, it’s being captured by the processors, packers, distributors, and retailers in-between.

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