The 32nd annual informal Thanksgiving Dinner Price Survey shows consumers continue to enjoy an affordable food supply as this year’s Thanksgiving dinner is the most affordable in five years. The average cost for 10 for a classic Thanksgiving Dinner decreased less than two percent, remaining under $5 per-person, according to AFBF market intelligence director John Newton says the decline was driven by lower retail turkey prices, along with lower prices for milk and rolls. The average cost of turkey this year is $22.38 for the whole bird…
“Wholesale turkey prices are at their lowest level since 2013. And given that the turkey represents almost fifty percent of the basket’s total, it’s the biggest factor driving the price decline. Turkey prices came in at $1.40 a pound, that’s two cents from what we saw last year.”
Meanwhile, the supply of pumpkins for processing for pumpkin pie has rebounded from a couple of years ago…
“The supply of pumpkins should be more than adequate. We’ve had favorable growing conditions for two years in a row in Illinois, where most of the pumpkins are produced.”
NAFTA Negotiators Focusing on Cars and Finances
Agriculture will not be a big focus in the current round of talks on the North American Free Trade Agreement. Bloomberg says negotiators will focus this round on regional content rules for products like cars, as well as financial services. Other proposals that Canada and Mexico are balking at include a five-year sunset clause, getting rid of settlement dispute panels, and ending Canada’s dairy supply management program.
Oregon Representative Releases Alternative Farm Bill
Oregon Democrat Representative Michael Blumenauer released an “alternative Farm Bill” during a press conference. The news conference was held with Michael Pollan, an author of books criticizing the current U.S. food system. The Hagstrom Report says Bluemenauer has long been advocating for fruits and vegetables, as well as organic and local foods, in previous farm bill debates. His version of the farm bill covers all titles in the 2014 Farm Bill and adds titles focused on food waste and animal welfare. His bill eliminates the two main crop subsidy programs, which are the Agricultural Risk Coverage Program and the Price Loss Program. It also eliminates conservation spending on confined animal feeding operations, opting instead to give more money to organic and local production, as well as research that benefits smaller farms.