Agriculture - October 2010
Citrus prices fell 45 percent in September from a year earlier.
- Market conditions remain uncertain for Florida's citrus industry as citrus prices weakened in September on a monthly and yearly basis.
- Weak prices have dampened the industry outlook, which was already troubled by rising production costs from efforts to control canker and other diseases.
- The U.S. Department of Agriculture's recent citrus production estimate for the 2009–10 season decreased almost 11 percent from the previous year.
Poultry prices increased 19 percent in September from a year earlier, according to the USDA.
- The most recent USDA report indicated that the poultry industry will curb production this year because of higher feed prices and limited growth domestically.
Market conditions have continued to sustain healthy year-over-year growth in cotton prices.
- Cotton prices in September jumped 40 percent from a year earlier, led by favorable global market conditions.
- According to recent USDA data, the short-term outlook for cotton is bright. Major mill producers, such as China and India, are expected to rely more on U.S. cotton since their cotton crops are troubled by bad weather.