Thanksavings Dinner 2018
Submitted by Atlas Indicators Investment Advisors on November 22nd, 2018
I am thankful for the opportunity to know you. You allow me to work in a fascinating field during a riveting time in history, and your friendship makes it even more rewarding. I wish you a meaningful Thanksgiving. We all have plenty for which to be thankful. ~Christopher Cox
Every year since 1986 the American Farm Bureau Federation (AFBF) conducts an informal price survey in order to quantify the cost of an average Thanksgiving meal. They track the prices of a nine-item dinner which includes coffee and dessert. There is good news for those of you wondering how you’ll afford all of the items on your holiday shopping list; Thanksgiving is cheaper in 2018! Prices declined for a third consecutive time and are now the lowest in eight years!
On average, tomorrow’s main meal should cost roughly $0.22 less per person, following last years decline of $0.08, so the decrease is accelerating. When constructing their “index,” the AFBF assumes a ten-person meal is prepared and that there will be leftovers. This year, they estimate the complete feast will cost just $48.90, less than $5.00 per person.
Turkey prices fell once again. It’s a good thing too because the bird is the most expensive item on the table. A 16-pound gobbler came to $21.71 this year, a savings of $0.06 per pound. Apparently, there is a large inventory of birds. President Trump could only pardon Peas and Carrots, so demand is being met with ease.
Other items were cheaper as well. Once again, milk production has been on the rise, so its price dropped. Stores also like to use milk as a loss leader to attract shoppers, so this helps push the price lower as well. Rolls, sweet potatoes, and green peas were also less expensive this year.
Not every item’s price declined. However, the increases were moderate on those things with rising costs. Fresh cranberries, bread stuffing, veggie trays, coffee, pie shells, and pumpkin pie mix where all higher. For our readers who are dessert fans, it wasn’t a complete loss; whipping cream held steady this year.
Tomorrow provides an opportunity to acknowledge how fortunate each of us is. Whether through luck, hard work, or some combination thereof, most of our needs are met on a daily basis. We find ourselves in a period of history which is relatively peaceful, and abundance is nearly ubiquitous for our readers and their families. Thank you for being a part of Atlas’ family and joining us on this journey.