Cotton and Peanut Forecasts and Farm Cash Receipts for 2022 Near Record

Cotton and Peanut Forecasts and Farm Cash Receipts for 2022 Near Record

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

**All U.S. cotton is forecast at 12.8 million 480-pound bales, down 11% from last year. Peanut production is forecast to be up 13% from 2022.

Cotton production in Alabama is down 18% from last year, while peanuts are down 7% from 2022.

Florida cotton production is down 39%, while peanut production is down 21% from 2022.

Georgia cotton production is down 13% from last year, while peanut production is up 16%.

**American farms reported record cash receipts of $555 billion from the sales of all commodities in 2022.

This beat the previous 2014 high by 3.1% after adjusting both for inflation, and was 28% above the 20-year average.

The 2022 record cash receipts primarily resulted from the strength of commodity prices, although production levels were also strong.

Cash receipts from crops amounted to $288 billion, while receipts from animal products totaled $267 billion.

**Most consumers appear to prefer brand-name beverages over generic or store-brand beverages, according to the September Consumer Food Insights Report.

The Purdue University report further indicates consumers make this choice even when presented with a sizable price discount on generic or store brands.

In contrast, most survey respondents said they weren’t willing to pay a premium for brand-name meat, fruits, or vegetables.

Previous ReportCalifornia Walnut Crop and Farm Cash Receipts for 2022 Near Record
Next ReportTulare Top Ag County and Gas Prices Drop