Turkeys selling for record high prices this Thanksgiving, as bird flu ravages US flocks

24/11/2022 8:57:00 AM

Turkeys selling for record high prices this Thanksgiving, as bird flu ravages US flocks

Turkeys selling for record high prices this Thanksgiving, as bird flu ravages US flocks

Rising inflation and lingering supply chain issues are also making it harder for people to be thankful when it comes to paying for the annual feast.

LinkedIn NEW YORK: The cost for a turkey this Thanksgiving holiday is at a record high in the United States, as an ongoing bird flu outbreak wipes out supplies.Copy to clipboard https://str.LinkedIn A look at the day ahead in Asian markets from Jamie McGeever.LinkedIn DOHA : Matt Turner's Thanksgiving usually involves turkey dinner and all the trimmings with his family back in Park Ridge, New Jersey but this year will be a little different.

An unexpected resurgence of avian flu sweeping across the country has killed millions of turkeys and hens this year.The prices of turkeys, the centrepiece of Thanksgiving meals, have risen more than 20 per cent compared to last year, according to some estimates.“The votes are in.High inflation and lingering supply chain issues are also making it harder for people to be thankful when it comes to paying for the annual feast this week.markets a perfect pre-Thanksgiving tonic on Wednesday, which should keep risk appetite bubbling along nicely in Asia on Thursday.The confluence of factors is eating into Thanksgiving budgets, and it is not just the cost of turkey that has gone up.There’s no ballot stuffing, there’s no fowl play,” Mr Biden said at the traditional pre-Thanksgiving turkey pardon at the White House, which is never complete without a string of holiday-themed puns.According to the American Farm Bureau Federation, a Thanksgiving meal with all the trimmings will cost around 20 per cent more than last year.A daunting prospect, compared to tucking into a seasonal feast, but Turner is more than happy to skip the routine as the U.

Of the items surveyed, only fresh cranberries have gone down in price.(The dog, Commander, oversaw the South Lawn event from the White House balcony.Markets welcomed this with open arms.“It's not just about turkeys this year, it's not even about disease only this year.It's about the world that we live in,” said Mr Russ Whitman, senior vice president at data research firm Urner Barry.But in a sign of where national attention may be shifting, Mr Biden suggested that the turkeys have a bit in common with the 2024 presidential hopefuls.“It's about the hyperinflation of the food market.thomsonreuters.It's about high feed costs, it's about high labour costs, and it's about high fuel.“Sounds like another flock hoping to come to Washington in 2024.It'll be a little bit different for the people back home this time around, but look forward to the future many more times with them.

” HIGH FOOD PRICES At gourmet grocer Zabar’s, a New York staple for more than 80 years, the week leading up to Thanksgiving is usually their busiest of the year.However, foot traffic is down compared to levels seen before the COVID-19 pandemic, with the store pointing at inflation as a contributing factor.“Chocolate is my favourite ice cream, but we could’ve named them chips and science,” Mr Biden said, referring to the Chips and Science Act, a US$280 billion (S$386 billion) investment in American chip manufacturing that Mr Biden signed into law in 2022.0.Zabar’s general manager Scott Goldshine said: “Everything from turkeys to eggs to string beans, a lot of the ingredients that we use for Thanksgiving has gone up in the last year, anywhere from 25 to 100 per cent.” October’s consumer price index showed that inflation may be showing signs of cooling in the US, but food prices still saw an uptick of 10.W.9 per cent year-on-year.Recession next year is a certainty, if you believe the bond market.S.

Canned pumpkin is up around 17 per cent from last year, according to some estimates.The animals were placed on a table next to Mr Biden’s lectern on Monday to receive their presidential pardons.A box of stuffing is also up nearly 15 per cent.High inflation and lingering supply chain issues are also making it harder for people to be thankful when it comes to paying for the annual feast.You are pardoned,” Mr Biden said to the gobbling turkey.markets are closed for the Thanksgiving holiday on Thursday, and liquidity and activity will be light on Friday.(AP Photo/Matt Rourke) Americans are reacting to the increase.One told CNA that many of his peers have been opting out of buying turkeys because of the rising prices.Yeah.S.

Another resident said: “I’m not buying turkey.thomsonreuters.I’m going to do a vegan turkey and vegetables because they’re cheaper.” “He said: ‘I don’t know, man.” THANKSGIVING FEAST WILL STILL GO ON Analysts said these high prices will likely impact consumer behaviour, but they still expect full tables and generous portions when people gather around the thanksgiving table this week.Families may well choose to leave the budget belt tightening until after the holiday feast, they added.I knew I was pardoned’,” Mr Biden translated, prompting laughs in the crowd.Although the Bank of Korea is widely expected to raise rates 25 basis points on Thursday to a decade-high of 3.Food and beverage analyst Emily Moquin of data intelligence firm Morning Consul said: “People will be making some changes, maybe in where they are shopping.

They’re looking for the lowest prices, switching retailers potentially to find those deals.More On This Topic Thanksgiving traditions return to US amid Covid-19 pandemic “When we told them they were joining the Wolfpack, they got a little scared,” Mr Biden said, before adding that it was just the name of the school’s sports teams.“A lot of retailers offer low cost on turkeys to get folks in the door to buy the rest of the thanksgiving feast, so switching stores potentially, switching brands if they need to, to buy lower cost items.South Korea's economy is losing momentum as higher living costs dent household income and demand.” Related:.“Two years ago, we couldn’t even safely have Thanksgiving with large family gatherings,” Mr Biden said.

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