Agriculture - September 2010
Citrus prices fell 12.7 percent in August from a year earlier.
- Market conditions remain uncertain for Florida's citrus industry as citrus prices weakened in August from the previous month and a year earlier.
- 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 fell in August on a month-over-month basis but were up 11.6 percent year over year. According to the USDA, market conditions are still favorable.
- 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 August climbed 43 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.