Agriculture - July 2010
Citrus prices were 13 percent higher than a year earlier. The U.S. Department of Agriculture estimated that the Florida crop this year was smaller than previously reported.
- The USDA's mid-July citrus harvest forecast was 2 percent lower than the one reported in October 2009. This year's harvest estimate, at 133.6 million boxes, is about 18 percent lower than last year's crop.
- Prices in June were 13 percent higher than a year earlier and up 6 percent from May.
Poultry prices in June 2010 were flat from May 2010 and June 2009. But according to the USDA, market conditions are still favorable.
- The most recent USDA report indicated that the poultry industry will expand production this year because of improving domestic market conditions, stronger-than-expected exports, and lower feed costs.
- Poultry prices in June were unchanged from both May 2010 and a year earlier.
Upbeat market conditions have continued to support high cotton prices.
- Cotton prices in June jumped 45 percent from a year earlier, led by favorable global market conditions.
- According to recent USDA data, global market conditions appear favorable for cotton producers in the United States. The short-term outlook for cotton is bright as major mill producers like China and India are expected to rely more on U.S. cotton.