Both the USDA and APC February Inventory Figures Indicate Both Increased Domestic Pecan Consumption and Increased Exports

Last week’s release of the USDA Cold Storage holdings contained nothing but good news.  Not only were the February holdings lower than the previous year, but it was also the first time in fifteen months that the figures were lower than the previous years’ holdings.  Based on the February APC figures, committed inventory was at 78.35% of USDA cold storage figures and 87.72% of inventory held by US Handlers, the second highest percentage in over a year.  Further, the industry had the fewest days of available supply in over nine years (see attached PDF Graph in Market Conditions drop down of the Pecan Crop Statistics page).

Finally, based on USDA FAS and NASS data, pecan imports are down over 23% while both US pecan exports and domestic consumption are up.  Prices remain very competitive but continue their firming trend.