The American Farm Bureau Federation report for 2025 shows Thanksgiving meal costs are down 5% from 2024. (Photo by Karsan Turner for Iowa Capital Dispatch)

The cost of a classic Thanksgiving dinner set for 10 people, at $55.18, is 5% less than the cost in 2024, annual data from the American Farm Bureau Federation shows.

While key meal items like turkey and dinner rolls decreased in price this year, fresh vegetables and Thanksgiving dairy products are substantially more expensive.

Overall, the report found the cost of the meal is still higher than it was in 2020, when the meal cost $46.90.

Farm Bureau said the table items with price increases reflect some of the hardships that farmers faced this year.

Christopher Pudenz, Iowa Farm Bureau’s research and economics manager, said declining prices for some Thanksgiving staples is good for consumers, but profitability “continues to be a challenge” for farmers in 2025.

“Iowa farmers face historically low crop prices, high input costs and tight margins, yet they remain resilient and committed to doing what they do best–caring for their land, practicing good stewardship and raising healthy animals to provide abundant, affordable food for families here at home and across the country,” Pudenz said in a statement.

Turkey

While turkey is typically the star of the show – and the top billed item on the table – turkey represented just 39% of the cost of the Thanksgiving meal this year, which Farm Bureau said is the lowest share of the meal cost since 2000. On average, the bureau said the bird accounts for 43% of the total receipt.

This year the average 16-pound turkey cost $21.50, or $1.34 per pound, which is more than 16% less than the average turkey cost last year.

While the price has declined, popularity has not. A consumer survey from the National Turkey Federation found that 87% of Americans who celebrate Thanksgiving plan to serve turkey. The majority, 74%, serve the whole bird at the holiday and 65% choose to roast their turkey in the oven.

The overall size of the turkey flock, according to USDA data, has declined. Farm Bureau said these flock sizes reflect the impact the highly pathogenic avian influenza has had on the industry. Since 2022, according to Farm Bureau, close to 19 million turkeys have been impacted by the bird flu.

Iowa has only had one reported outbreak of the flu this fall – at a turkey farm in Calhoun County.

And the fixins

Sweet potatoes, vegetable trays with carrots and celery, frozen peas, milk and whipping cream all increased in price this year.

Cranberries, stuffing and rolls, however, decreased slightly in price for the 2025 meal.

A 3-pound bag of sweet potatoes averaged $4, a 37% increase from the year prior, according to the report.

Farm Bureau said natural disasters, like hurricanes in North Carolina — the nation’s largest producer of sweet potatoes — partially contributed to the increase in cost.

Produce costs have also increased in the country due to labor shortages, increased labor costs and supply chain or transportation setbacks, according to Farm Bureau.

Group blames tariffs

The campaign Tariffs Cost US blamed tariffs for the increase in cost, citing farmer statements that have said increasing input costs have lead them to hike local produce costs.

The organization also launched an ad campaign, ahead of Black Friday and holiday shopping, pinning tariffs for higher price tags. According to the group, local businesses are especially feeling the added costs and hoping the busy shopping season will keep them in the black.

Rachel Lutz, owner of the Peacock Room in Detroit, said a $700 shipment of jewelry recently came with the added cost of $100 tariff. She worries the added fees will force more small businesses to close.

“That adds up fast and is unsustainable in the long run,” Lutz said in a news release with Tariffs Cost US. “It has been heartbreaking to wake up so many mornings and see yet another family-owned business closing in our community because they cannot absorb these costs.”

Local business owners in Iowa have also expressed concerns about the impact tariffs will have on holiday shopping and their overall margins.

At the farmers’ table

While consumer prices fluctuate from year to year, farmers continue to earn just a small percentage. USDA data shows farmers receive less than 16 cents for every dollar spent on food in the U.S.

Iowa Secretary of Agriculture Mike Naig, in a news release Monday, reminded Iowans of the role farmers play in the Thanksgiving meal.

“As we gather this week with our family and friends, I invite everyone to pause for a moment and give thanks for Iowa’s hardworking farm families who produce the delicious Thanksgiving meals on our tables,” Naig said.

National Farmers Union’s annual “Farmer’s Share of the Food Dollar” report shows farmers receive “only pennies on the dollar” for the typical Thanksgiving fare.

The report shows farmers earn the least amount, 6 cents or 1.3% of the price, on a 12-ounce box of stuffing. Producers also score just 6 cents per pound, or 2.4% of the sale price of turkey.

Farmers who sell turkeys direct to consumers and with free-range or organic traits earn more per dollar, but also charge more, between $5 and $7 per pound.

Cranberry and green producers receive the highest percentage of the Thanksgiving food dollar for their commodities at nearly 32% and nearly 25% respectively.

Farmers Union President Rob Larew, in a news release, said there is “continuous inequality” in the food system.

“Every Thanksgiving, the numbers tell the same story: farmers aren’t asking for a bigger slice of pie, just a fair one,” Larew said. “It’s long past time to fix a food system that works for corporations but not for the families who grow and consume our food.”

This story was originally produced by Iowa Capital Dispatch, which is part of States Newsroom, a nonprofit news network which includes Michigan Advance, and is supported by grants and a coalition of donors as a 501c(3) public charity. For more, go to https://michiganadvance.com/.