USDA Releases Final 2022 US Crop Figure and China Decides to Discontinue their Pecan Program
May 26, 2023
For those of you who may have missed it, on May 8, 2023, the USDA published the final 2022 Pecan Crop Figures. Based on their survey, the US Crop was 277.7 million inshell pounds based on 409,000 bearing acres. Of the total, improved varieties accounted for approximately 270.7 million pounds at an average price of $1.82/lb. The average price paid for natives was $1.19/lb which moved the overall price slightly lower to $1.80/lb. Being only slightly larger than their January preliminary figure of 275 million pounds, the release should have little or no impact on the market.
March Cold Storage Holding the Lowest Since 2012
May 01, 2023
As several others have pointed out, last week’s release of the March Cold Storage figures only confirms the fact that the industry is dealing with a severe supply shortage.
Cold Storage-Shelled 2023
Cold Storage-Inshell 2023
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.
Pecan Market Overview-PTNPA Presentation on the State of the Pecan Market
This pdf file contains the PowerPoint presentation made during the Commodity Workshop at the annual meeting of the Peanut and Tree Nut Processor Association from January 14-16, 2023. The slides illustrate supply and demand as of January 2023, factors impacting both and historic pricing trends.
USDA Reduces 2022 Crop Estimate
December 12, 2022
This past Friday the USDA released their December estimate of the 2022 Pecan Crop (Crop Production Report). As expected, they reduced the projection from their October estimate of 290.5 million pounds (inshell basis) to 280 million. Based on currently available information, the supply situation shapes up as follows:
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