The Thanksgiving Dinner table will look quite different in 2020 than in any year we have seen before (except for a few old, old timers who were around in 1919 and 1920.) The table will still have the turkey and all the trimming, but the number of place settings may be fewer as families shift priorities from the usual boisterous family dinner to protecting grandpa and grandma from the ravages of a virus.
As if running
roughshod over our health is not enough, the nasty coronavirus is taking a bite
out of some pocket books as well.
Usually an economical meal, the traditional Thanksgiving dinner will
cost more this year. The New York Farm
Bureau 2020 Market Basket Survey has determined that the average total price
has risen to $49.23 for a traditional meal of turkey, potatoes, dressing,
cranberries, vegetable and pumpkin pie.
However, the same survey by the American Farm Bureau Federal has found a
decrease in costs to $46.90 for the same meal at a national level.
The American Farm Bureau has declared that the classic dinner remains very affordable, costing Americans about $5.00 per person for a family of ten. Oh, if only we could safely gather in group of ten people without having to worry about whether some will leave the table with more than a full stomach.
This week Americans can be grateful for a smoothly running food supply chain. In the early days the coronavirus pandemic appeared to disrupt delivery of critical consumer products such as toilet paper and disinfectants. We are still waiting for decent toilet paper to return to store shelves although scratchy, thin options are seemly in ample supply.
Some food items
such as bread and eggs seemed to be in short supply at local grocery stores as
consumers left work and school to eat only at home. Kinks in the final mile have largely been
worked out in the food distribution chain and grocery store shelves now seem
well stocked. The U.S. Department of
Agriculture reports that there are no nationwide shortages of food. Fortunately, the coronavirus has not been
transmitted by food or food packaging, leaving the agriculture and food
processing industries to cope with social distancing and ventilation issues
like any other business.
A properly functioning
food supply chain has not been enough to protect people from hunger. The United Nations World Food Programme
reports that the pandemic could increase the total number of undernourished
people from 83 million to 132 million in 2020.
An increase in food insecurity is reality for people who have lost jobs
or homes. Feeding America network of
food banks estimates that as many as 50 million Americans will experience food
insecurity in 2020. Feeding America accepts donations
to help those who are facing hunger.
This year $5.00 buys a turkey dinner.
Neither the author of the Small Cap Strategist web
log, Crystal Equity Research nor its affiliates have a beneficial interest in
the companies mentioned herein.
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