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Market Update 050619

May 6, 2019

ALMONDS:

Pricing is fairly stable.

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

Non Pareil 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 2.55+ billion pound crop.

The gap in pricing between NP and Pollinizers has closed significantly, from about 50 cents to as narrow as .05/#.

New crop is selling at a 10-15 cent discount.

NPS at $2.90-3.00.
Cal/Car $2.75-2.90
Manufactured $3.55-$3.70

WALNUTS:

Market is stable, shipments are good.

LHP $2.75
LMP $2.80
Pasteurized.

Crop is also coming along nicely. Should be similar to last year.

PECANS:

Market on halves has firmed up.

More sellers than buyers on pieces.

Inshell should be trading at about $3.10, though growers have put inshell in cold storage and want a premium to get it out. Summer's end should cure that.

China tariffs are still keeping them from buying very much US product.

Many feel that we are still in an oversupply situation and it will make for a big carryout, especially with Georgia's potential 100 million pounds.

Mexico's orchards are also looking promising.

FJMH has a big price range. $4.85-5.25
Pieces same crazy big range $3.55-4.05



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