The NASS Subjective Estimate was announced today at 2.0 billion lbs for the 2016 crop. The Subjective Estimate is a telephone survey of a sampling of growers asking them how their 2016 crop compares to their 2015 crop. The estimate is based on the 900,000 bearing acres released on 4/27/16, with a yield of 2,220 lbs/acre, an increase in yield of 4.7% over prior year.
With 2015 late crop shipments increasing over prior year, the pressure on ending inventory is reducing somewhat. We expect to see prices firm over the next several days and remain fairly stable until the release of the Objective Estimate on July 6th.
To view the NASS report in its entirety, click here: https://www.nass.usda.gov/Statistics_by_State/California/Publications/Fruits_and_Nuts/201605almpd.pdf