Update To The Trade


Update to the Trade
July20,2015

 

The first two grower group estimates of the upcoming 2015/16 pecan crop have been released. The Tri-State Growers Association announced the first estimate in late June at 283 million inshell pounds. The Texas Growers Association is the second group to estimate the crop and their projection announced last week is 327 million inshell pounds. Further, USDA on Friday announced their final figure of the 2014/15 pecan harvest at 264.2 million inshell pounds. The Industry has experienced two short crops back to back (2013/14 and 2014/15). With the normal cyclical nature of pecans with an on-year followed by an off-year, we are hopeful that we will continue to see the crop estimates increase as we move closer to harvest.

Now that the crop has set and the June drop has occurred, we will turn our focus to weather conditions throughout the summer and early fall. Not enough water, too much water, excessive storms are all factors we watch for every year and this one will be no different. Below is a timeline of pecan growth to maturity from July to harvest.
 

Rapid Growth PeriodJuly/August 
Shell HardeningAugust/SeptemberNut shel forms thereby fixing the ultimate sizeof the nut.
Gel StageSeptemberThe kernel begins to form as a gelatinous mass.
Fill StageOctoberThe kernel begins to solidify.
Shuck DehiscenceNovemberThe green shucks split signifying maturity.


Listed below are a couple of charts of interest. The first is a chart that shows the variance between the latest estimate and the final USDA number for each of the past six years. The second is a supply/consumption analysis based on the latest information from USDA and the latest estimate of the year.
 

Crop Year200920102011201220132014
Texas Growers324292257282230264
USDA Final (July)302294270303266264
USDA Final Variance to Estimate-2221321360

 

Crop Year2008/092009/102010/112011/122012/132013/142014/152015/16
USDA Cold Storage Carry-In 10-31169100679912813912062*
US Crop per USDA202302294270303266265327**
Net Imports MX80120128100152130130150***
Total Supply451522489469583535515539*
         
Consumption352454390340444415453* 

*Estimated; **Texas Growers Estimate; ***Estimated Mexican Imports

The next estimate will be released in early September by the National Pecan Shellers Association and USDA will provide their first estimate of the crop in early October.

We will continue to keep you updated as we progress through the growing season. Should you have any questions or wish to discuss the market in more detail, please feel free to give me a call at 800-469-6607 or 843-319-5605. Also, please be sure to check out our website at www.youngpecan.com where you will find additional statistics, nutritional and regulatory information. On our site, you can sign up to receive emails automatically as we update statistics and other information.


Cordially,

Helen Watts
Executive Vice President
 

June 2015 report is listed below.



July 2015 report is listed below.