Whole turkeys may be losing their grip as the dominant center-of-plate choice for Thanksgiving dinner, according to the latest report from CoBank’s Knowledge Exchange. Although abundant turkey supplies and favorable prices leading into the holiday season indicate turkey will retain its position as the traditional protein of choice this Thanksgiving, consumer trends are making the future less certain.
“Growing demand for convenience, longer-term pressure on turkey supplies and increasing competition from beef and pork marketers may all impact the longevity of the holiday turkey,” CoBank says.
Most consumers only think about cooking a whole turkey once a year, points out Brian Earnest, animal protein economist with CoBank, saysin a release.
“Some of those consumers have moved away from preparing a whole turkey for Thanksgiving,” Earnest says. “The beef and pork sectors have seen the shift in consumer behavior and view it as an opportunity to capture a bigger share of Thanksgiving protein purchases.”
Holiday promotions often drive what shoppers choose to put in the cart. Retailers typically price turkeys as a loss leader in hopes that sales on the remainder of the consumer’s Thanksgiving shopping cart will include items that offset those losses, the release says. USDA’s feature activity index, however, indicates a notable decline in promotional turkey pricing around the holidays in recent years.
“As retailers began planning for Thanksgiving features last January, projections for turkey inventories were reported at their lowest point in four decades, signaling reduced availability in 2024,” CoBank reports. “However, inventories of whole turkeys in cold storage were up about 4% year-over-year when they peaked in September at 246 million pounds.”
Inventories are still down 100 million pounds from 2018 levels. This means the improved supply picture should allow consumers to find favorable prices for whole turkeys this Thanksgiving.
Sliding demand for whole turkeys over the long term means producers should evaluate the overall product mix more closely.
“The opportunity to grow turkey consumption may be elsewhere,” Earnest says. “Per Circana, ground turkey has shown tremendous strength this year, with retail volume sales increasing 5.5% to reach $1.9 billion in sales over the 52 weeks period ending Sept. 8. The upswing in demand for different types of turkey products reflects the changing nature of consumer preferences.”
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