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Pecan Handler Inventory Drops Nearly 44 Million Pounds

The American Pecan Council released the latest pecan industry position report showing data for the month ended July 2019. The latest release makes the 11th consecutive month of data showing pecan shipments, inventory and purchase throughout the American pecan industry. The most recent data shows the largest drop in pecan inventory since the monthly data releases began eleven months prior, with just under 44 million pounds removed from inventory. The USDA also released its cold storage holdings for the US showing a significant drop in overall pecans warehoused in the US, with a decrease of nearly 27 million pounds for the month of July. The American Pecan Council data also shows a similar trend however pecan inventory among US pecan handlers drop even more significantly than the overall USDA reports, which would indicate deliveries for the month of July were strong. The American Pecan industry has been struggling with sales to China slumping since the start of trade war, however export sales to other countries remain strong. Domestic consumption of pecans also remains steady making up more than half of reported pecan shipments.