News Archive

This past Friday, December 12, 2008, the USDA released the second of its 2008 Pecan crop estimates reducing their estimate of this year's crop to 189.06 million pounds (inshell basis).  As such, the supply situation shapes up as follows (figures are expressed on an inshell basis in millions of pounds):

On Friday, October 10, 2008, the USDA released the first of its 2008 Pecan crop estimates estimating this year's crop to be 204 million pounds (inshell basis).  This is in line with the estimate released by the National Pecan Shellers Association two weeks ago (203.75 million pounds) and in line with earlier grower estimates. As such, the supply situation shapes up as follows (figures are expressed on an inshell basis in millions of pounds):

The National Pecan Shellers Association (NPSA) announced that effective August, 1, 2008, it will begin to use a higher percentage factor to convert meats to inshell when estimating how many pecans are available in the marketplace.   For decades the industry has used the standard conversion rate of 40% to convert meats to inshell and visa-versa.  However, with advances in farm technology and the proliferation on higher yielding improved varieties, it became apparent that the conversion rate needed to be modified.  In an effort to more accurately report inventory data relative to average pecan yield, the NPSA surveyed its 27 Sheller members regarding average yield and mill loss over a six year period.  A six year time frame was used to take into account the on and off year nature of Pecan

PECANS

Although the USDA did not calculate the 2007 crop to be as large as many had anticipated (or believe it to have been), the final figure of 385.3 million inshell pounds made this the second largest crop ever.  Based on current FAS import/export data, 2007/2008 total supply shapes up as follows:

PECANS

The Almond market has continued to be slow and soft for the past month with prices drifting down about $0.10/lb.  Today the Almond Board released its Position Report showing record January shipments of 94 million lbs, 14% more than last January.  Year to date shipments are also 14% ahead of a year ago and right on schedule to leave a carryout of about 230 million lbs, a volume considered necessary to avoid crop year transition shortages as have been experienced in the recent past.  Crop deliveries are up to 1.357 billion lbs.  Buyers have been slow to cover future almond needs due to the declining market in hopes of gaining further discounts as prices weaken.  Buyers may also be responding to general financial market concerns and not buying too far ahead.  Industry attention is now focu