Tri-State Growers Release First 2010 Pecan Crop Estimate
June 23, 2010
The Tri-State Pecan Growers, members of the Louisiana, Mississippi and Arkansas Growers Associations, released the first of the 2010 Pecan Crop estimates this past Friday at the conclusion of their annual meeting in Vicksburg, MS. To everyone's surprise, the group forecast the 2010 crop to be 274.5 million pounds. While weather conditions have been very favorable, and many within the industry had projected a larger than average 'off-year' crop, if this figure turns out to be correct, it would be the largest 'off-year' crop ever. In the face of historically high prices, severe shortages of many meat items and record consumption, this is excellant news after experiencing a smaller than expected 2009 'on-year' crop. While not eliminating the projected 2010/2011 meat shortages, the additional tonnage could help to keep meat prices from going higher. Based on the Cold Storage report released yesterday by the USDA, consumption is now running at or near 475 million pounds (inshell basis) due largely to a substantial increase in shipments to China which now accounts for over 50% of US Export sales and roughly 28% of the US crop. As has been experienced many times in the past, a lot can happen to the crop in the next four months; however, this was certainly good news for all segments of the Pecan industry.