The holidays bring large increases in food spending for both food at home and food away from home. Consumers’ decisions during this season can have important implications for farmers and ranchers. Farmdoc, at the University of Illinois, said persistent inflation has impacted consumer food decisions in recent years, including their holiday meals.
This year, estimates of Thanksgiving meal costs showed prices were slightly lower than in previous years. A survey showed 69 percent of respondents expect food prices to affect their meal plans this year. The concern was much higher for people who utilize nutrition assistance programs like SNAP.
Despite the challenges, demand for many holiday favorites like turkey remains strong.
Also, with recent concerns regarding high beef prices, a larger share of consumers report plans to serve beef in their holiday meals compared to recent years. Consumers are adapting by shopping for food deals and shopping earlier than normal.
