Agriculture - May 2010
Citrus prices in early 2010 are gaining some stability, with unchanged crop estimates.
- The U.S. Department of Agriculture's (USDA's) most recent citrus crop estimates for the 2009–10 season remain at 131.6 million boxes.
- Prices in April are 13 percent higher than a year earlier, but they remain unchanged from March 2010.
- The $9 billion Florida citrus industry, according to Florida Citrus Mutual, currently employs about 76,000 people.
Poultry prices in early 2010 are higher than last year, supported by stable market conditions.
- The most recent USDA report indicated that the poultry industry this year will expand production thanks to improving domestic market conditions and lower feed costs.
- Poultry prices in April 2010 were 6.7 percent higher than a year earlier, helped by improving consumer demand and higher prices for beef and pork.
Cotton prices in early 2010 were up sharply from last year.
- Cotton prices received by farmers in April jumped 40 percent from a year earlier, led by favorable global market conditions.
- According to recent USDA estimates, strong cotton prices have been helped by rising global demand. The short-term outlook for cotton is bright as major producers like China, India, and other countries are reportedly expected to increase mill use capacity this year.