Holiday gathering warnings set up a price fall for turkey meat in the retail ahead of Thanksgiving in U.S.

The American Farm Bureau, showed in a survey on average retail prices for all the ingredients that go into the typical family turkey dinner, and found the average retail price at grocery stores of turkey, whole turkeys and frozen whole turkeys was down an impressing 7% YoY. Marking the lowest spot retail price in a decade. And that retail turkey price reduction drove the annual cost of that hypothetical meal there is down also to the lowest level in a decade.

Severeal public health warnings against holding holiday gatherings is primarely what drove down demand for Thanksgiving 2020.

Relevant to point out that YoY reduction has also been reported in the turkey meat production in the monthly USDA papers. Stocks reports on frozen hens shows the beginning of the year hen stocks way below last year. And that difference has been narrowing all year long.

As the turkey industry started off the year with low stocks on frozen hens, the hit will be less felt and it shall be not depressing the market further.