COLUMBUS, Ind. — A study conducted by Purdue university shows the cost of a traditional Thanksgiving dinner is down 2.3 percent for 2016 from last year.
Meats, poultry and eggs are down 6 percent, while milk, dairy, yogurt, cheese and ice cream are down two percent. The study shows that lower farm prices has led to the decrease.
“Abundant harvests over the past three years have reduced the prices farmers receive,” said Foster. “Lower prices for feed items like corn and soybean meal have increased animal production and lowered animal product prices from beef to milk. Food consumers are the benefactors this year. Record U.S. yields for corn, soybeans and wheat in 2016 will keep grocery store food price increases at modest levels into 2017.”
The study also says heavy rainfall in Illinois limited pumpkin production. Producers are expecting canning quantities to drop 50 percent. However, officials say there will be plenty of pumpkin to get through the holidays.
