Agriculture - June 2010
Citrus prices remained unchanged, and crop estimates stabilized.
- The U.S. Department of Agriculture's (USDA) June citrus crop estimate of 133.6 million boxes was up slightly from May.
- Prices in May were 13 percent higher than a year earlier and up slightly from April.
Poultry prices for 2010 have been higher than last year.
- 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 May were 4.1 percent higher than a year earlier, a result of improving consumer demand and higher beef and pork prices.
Cotton prices in May were up 39 percent from a year earlier.
- Cotton prices in May jumped 39 percent from a year earlier, led by favorable global market conditions.
- According to recent USDA estimates, strong cotton prices have been supported by rising global demand. The short-term outlook for cotton is bright as major producers like China and India are expected to increase mill use capacity this year.