January Cold Storage Figures Lowest in over Ten Years
March 03, 2023
While the laws of supply and demand generally dictate market pricing, that is not always the case. Geo-political issues, natural disasters and other unrelated issues often act to undermine the market. Such is the case with the current pecan market. Inflation, high interest rates, the War in Ukraine, logistics problems, etc., have all served to undermine the market even though, unlike the almond and walnut industries, there is a shortage of pecans. On February 23rd, the USDA released the January Cold Storage figures. Looking at the supply situation a little differently, i.e.
USDA Reduces 2022 Crop Estimate, Imports Continue to Lag
January 27, 2023
In the past week, the USDA has released two sets of numbers that shed a little more light on the pecan market. On January 19th, USDA NASS released their preliminary 2022 crop year pecan production report forecasting a slightly smaller crop than projected in December. At 275 million pounds (inshell basis), the crop is forecast to be approximately 8% larger than the 2021 crop. However, overall supply is down 11.2% over the same period and 13.4% over 2020’s record supply.