There may be less bounty on this year’s Thanksgiving table.
USDA reports that in September, food prices were up 4.6% compared to September of 2020.
The highest increases are in the meat case. Beef prices are up 17.6%, pork prices up 13% while poultry prices are up 6%.
Jay Rempe is the senior economist for the Nebraska Farm Bureau and tells KLIN News we could see some relief in meat prices in 2022. He says, “We are up against our capacity in terms of what we can process. There is not as much meat out there and demand remains very good. The industry will respond to that and will produce more. It is just going to take a little time to do that. Prices will go back down, not within the next 5 or 8 months but I think they will.”
Other issues playing into the high price of food is due to a clogged supply chain. That includes high transportation costs, labor shortages, bad weather and trade policies.
Selections for the feast may be a bit slim as well. Rempe says, “Don’t be surprised if you go one day and the shelf might not have something there.” If you see items you will need for the big dinner it is best to pick them up now or risk not getting it at all.
Costs for the side dishes to coffee and dessert are also up. Eggs are up 13%, fruits and vegetables up 3% while dairy is up less than 1%. Rempe says, “At the end of the year, USDA projects food prices will be up somewhere between four and 5% across the board.”