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Market Update 022019

February 20, 2019

ALMONDS

Shipping report was bullish last week. Another record month. Pricing is fairly stable even so.

Pollinators are becoming very short and it looks like it will come down to the wire again this year.

Nonpareil seems as if it will be the majority of the carry out again this year.

New crop is looking favorable, based on new bearing acres and average yield per acre we could see a 2.6 or 2.7 billion pound crop.

Chilling hours have been favorable as well as water conditions for a large yield per acre.

The gap in pricing between NP and Pollenizers has closed significantly, from about 50 cents to as narrow as 10-15.

NPS $2.95-3.15
Cal/Car $2.75-2.90
Manufactured $3.50-$3.75

There has been weird weather and a bit of Hail over the weekend. Reports to follow. See below link for updated bloom info.
http://bluediamondgrowers.com/crop-progress-reports/february-18-2019/

WALNUTS

Industry seems to be in a high 80s-low 90s % sold position.

Turkey is active.
Germany is active.
US still has buying to do.
Middle East is active.

Market is bullish:
LHP $2.90
LMP $2.95
Pasteurized.

PECANS

Market is weak with more sellers than buyers.

Inshell is trading at about $3.00.

UK markets are active.

China tariffs are still keeping them from buying very much US product. If lifted before the African crop comes to market, it would make sense that they would step in and buy some inshell and that would likely have a firming effect.

Many feel that we are still in an oversupply situation and it will make for a big carryout, however the market has remained fairly steady over the last month or more.

FJMH has a big price range. $4.50-5.25
Pieces same crazy big range $3.55-4.25

There are several big buyers out there in the US that have not contracted yet. If all of these decide to buy all at once it would make sense that the market would firm up. If they step in one at a time, it would seem that the market would continue on a fairly even/weak path for the balance of the season.



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