The Walnut Board of California has released the February Monthly Shipment Report
The Walnut Board of California has released the February Monthly Shipment Report:
February of 2016 compared to February 2015 Shipments- February 2016 shipments were 50,373 Inshell equivalent tons compared to 40,474 Inshell equivalent tons last year. Representing an increase of +24%. Another strong shipment month for the industry creating more bullish sentiments among industry experts.
Year to date Shipments 2015/2016 vs. 2014/2015 Marketing Year- Inshell Equivalent Tonnage for the 2015/2016 crop is 368,103 compared to 319,863 last year. Representing an increase of 48,240 inshell equivalent tons equaling +15%
CROP RECEIPTS- Receipts are 599,846 Inshell tons as of February 29th 2016. . The CASS Crop Estimate was at 575,000 Inshell tons.
Crop - The crop receipts on this report are a good indication on overall crop size.
Rain: The rains in California are back. El Nino has shown up with multiple inches of rain and feet of snow in the mountains. We expect to see at least some additional rainfall through the middle of next week. The overall outlook into March is to have periodic weather patterns and continued rain and snow in the mountains.
Pricing –. A lot more packers are reporting only a few loads of inshell and kernels left in their inventory. LHP 80% Chandler is now very difficult to find as some packers are down to 1-2 loads. If you are looking for LHP Chandler, please look to book some volume in the near future. As we get closer to the summer and it starts getting HOT, that item will darken quicker. The item that continues to put the most pressure on the market at this time is Combo Halves and Pieces. Many packers are reporting that they have an over stock of CHP in their inventory and will be aggressive in pricing to get it moved.
Chile: We have spoken to some of the Chilean Walnut packers and they have started to offer some of their earliest varieties of including Serr and Chandler. Not all packers are motivated to sell Chandler Kernels yet, as they are focused on getting some of their inshell business going first. Overall quality looks very good. If yo have demand please advise us.