Orange Forecast Down and Beef Exports Down
From the Ag Information Network, this is your Agribusiness Update.
**The U.S. all orange forecast for the 2023-24 season is 2.69 million tons, down 2% from the previous forecast but up 5% from the 2022- 23 final utilization.
The Florida all orange forecast, at 17.8 million boxes, 801,000 tons, is down 5% from the previous forecast but up 13% from last season’s final utilization.
U.S. shelled almond production is forecast at 3.00 billion pounds, up 21% from last year.
**The U.N. Food and Agricultural Organization’s Food Price Index reached 119.1 points in April, up 0.3 points from its revised March level.
The increase in the Meat Price Index and smaller upturns of Vegetable Oil and Cereal slightly offset decreases in those for Sugar and Dairy.
The second monthly rise in April follows a seven-month lower trend when the Index was down 9.6 points, or 7.4%, from its year ago value.
**U.S. Meat Export Federation data shows beef exports below last March’s large volume, but the highest since last June.
March beef exports were down 10% from last year but still the highest of 2024.
Export value was $889.9 million, down slightly from last year but the highest in nine months.
U.S. pork exports in March were up 0.1% from a year ago.
That’s up 2% year-over-year and the seventh highest on record.
