California Cling Peaches Acreage Down and Reduced Pork Demand

California Cling Peaches Acreage Down and Reduced Pork Demand

Bob Larson
Bob Larson
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.

**California acreage for cling peaches is dwindling, with growers on pace to deliver their second-lowest yield per acre in the last 30 years.

But prices are soaring with canneries clamoring for peaches and paying record prices.

Cling peach growers are earning a record $603 a ton this year, compared to $518 in 2021 and $497.50 in 2020.

The current price is a 90% increase from 10 years ago.

**Reduced domestic and international demand for pork is hitting Tyson Foods, one of the nation’s top pork producers.

The Arkansas-based meatpacker reports the company earned approximately $25 million from its pork business for the three months ending on July 3, about 63% lower than the same quarter in 2021.

The company reports that China, the biggest consumer of pork in the world, is buying less pork from the U.S., as are American stores.

**American shoppers struggling with inflation are looking at higher beef prices continuing in their local meat cases.

Because of high feed prices and severe drought, ranchers were forced to reduce their cattle herds.

Grain prices have dropped to their lowest levels since Russia invaded Ukraine, but Reuters says that might not mean lower food prices right away at the grocery store.

Corn futures have dropped by 26 percent since hitting a 10-year high in April.

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