Agriculture - May 2010

Citrus prices in early 2010 are gaining some stability, with unchanged crop estimates.

Orange Prices
  • 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.

Poulty Prices
  • 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
  • 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.