Bad news for those living in Northern Kentucky and the Cincinnati Metro. Your Halloween celebrations will be different this year. Across Boone County and beyond, farmers are reporting smaller harvests due to persistent drought. The result? Fewer pumpkins, smaller pumpkins, and bigger price tags.
According to WLWT, Benton Family Farm was expected to yield 3,500 pumpkins but only produced 1,300 this year. Other farms are facing the same issue, and competition at wholesale produce auctions has driven prices even higher. Families heading to pumpkin patches should expect to pay roughly twice as much as in previous years.
The Economics Behind It
This is supply and demand 101 in action. Every October, families want pumpkins for carving, schools plan fall festivals, and grocery stores stock up on them. The seasonal tradition remains consistent, just as the temperature drops and the days grow shorter. This year, however, we experienced a supply shock caused by drought conditions. Fewer pumpkins are available to satiate our seasonal desire. Price will respond by climbing up. That’s why you should expect smaller and more expensive pumpkins more this year.
The Bigger Picture
While this feels like a quirky seasonal story, it reflects a much larger truth:
Agriculture is vulnerable to climate and weather shocks. One dry season can disrupt supply chains, raise prices, and alter local traditions.
Consumers adapt differently when demand is seasonal. We may cut back on steak if prices rise, but many families won’t skip pumpkins in October. We call that inelastic demand.
Local shortages ripple outward. When every farm in the region is short, auctions and retail prices rise everywhere.
The Bottom Line
If you’re buying pumpkins this year, expect them to be smaller and more expensive. And while it may sting to pay more for a jack-o’-lantern, consider it a hands-on lesson in how supply and demand shape prices in your everyday life.
As you prepare for your Halloween celebrations, let this be the center of all your conversations. Never miss an opportunity to advocate for economic literacy.
This post is a throwback to the years of #Econoween. If you are carving pumpkins, be sure to share your econ-themed art with us. Tag us on Instagram @DecodeEcon.
Local supplies matter. We often never think about the seasonal supplies until the season arrives. I am curious to see how this holiday season plays out.