Farm Credit's Market Snapshot

Farm Credit’s Market Snapshot. I’m Greg Martin with today’s Fruit Grower Report.

Every quarter of the year the folks at NW Farm Credit Services take a snapshot look at crops and the market around the area. Michael Stolp, Vice President - Market Research and Development, has a look at the apple crop.

STOLP: Profitable prices and record sales are the hallmark of the Northwest’s 2012/13 fresh apple crop. A short Northern Hemisphere apple crop is driving strong markets and record movement of the Northwest crop. The industry should finish the current marketing year strong and with good profits. Looking ahead to the 2013/14 season, a large Northwest apple crop coupled with a larger national crop is likely to weaken prices.

Next Stolp turn his attention to the beleaguered cherry crop.

STOLP: The Northwest cherry season is off to a rough start. Heavy and persisting rains throughout May and June caused widespread harvest disruptions and substantial crop damage. Reports from impacted orchards range from spotty damage to total losses. The level of profitability for cherry growers is uncertain this year. The high cost of rain damage control and field sorting, along with crop losses will pressure early season growers’ margins. Mid-season producers generally see price declines during peak harvest, and the heat wave in Eastern Washington through the July Fourth week will take an additional toll on the crop. Late season harvest volumes are expected to be lighter than usual, which should provide some price support.

That’s today’s Fruit Grower Report. I’m Greg Martin on the Ag Information Network.