The pecan harvest season is well under way in the Southeastern US and will soon be in full swing out west. This season has started a little slower than last year with many varieties ripening around 1.5 weeks later on average than last season. Weather has been good in the southeastern region with few storms and high winds delaying harvest.
Handler’s pecan inventories are trending slightly higher for the opening of this season compared to last year. September of last year pecan handlers were holding around 143.5 million pounds in inventory while this September shows handlers holding about 10% more at 157.3 million pounds.
Grower deliveries from the orchards are trending slightly lower, likely due to the later harvest date than last season. Prices on the farm are trending well above last season with large export quality pecans bringing above $2.00 per in-shell pound for quality pecans yielding about 50%. Last season pecan prices on the farm were much lower and for some it was a struggle to find buyers a few weeks into the season. Once early sales and gift pack orders were covered, buyers sat back and watched the market to see what prices would do.
This year is off to a better start with more buyers in the market and China coming back with a strong appetite for American Pecans once again. Deliveries have started off the season slower than last year however in all fairness September of last season did see the largest spike in deliveries for a single month on record.