July Pecan Market Update
July 08, 2011
In another example as to why the Pecan Industry needs to develop a better way to collect crop information, the USDA released their final 2010 Pecan Crop Estimate raising their preliminary estimate from 259.66 million pounds (inshell basis) to 293.74 million pounds; almost a 12% increase thereby making the 2010 crop only 2.7% less than 2009's 302 million pound crop. Based on today's figures, it would appear that consumption is running about 19% behind last year's record numbers. Further, it would also appear that the alternate bearing cycle of the trees has changed. However, regardless of whether this is the 'on' or 'off' year, unless the Chinese substantially increase their inshell purchases, today's release would seem to indicate that there will be enough Pecans to handle both current and projected demand.