USDA Releases Final 2009 Pecan Crop Figures
July 08, 2010
Yesterday the USDA released their final figures for the 2009 Pecan Crop. Based on data submitted by both Shellers and Growers, the USDA estimated the 2009 crop to be 291,830,000 pounds (inshell basis). This is only a slight increase over their January 2010 estimate of 290,500,000 pounds. As such, it will probably have little impact on current prices. Supplies are still very limited, and as such, prices remain very firm. Based on current estimates for the 2010 US and Mexican crops, the industry appears to be about 60 million pounds short of what will be needed to handle current consumption. With new crop Walnut and Almond prices expected to be considerably lower than that of Pecans, buyers will have plenty of substitution options in the coming year.
The next Pecan crop estimates will come out of the Texas Pecan Grower's meetings next week in San Marcos, TX. As this is the 'off-year' crop, it is unlikely that the crop estimate will be higher than the 274.5 million pound estimate that came out of the 'Tri-State' meeting last month.