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Market Update October

October 25, 2023

We are praying for the Middle East as well as all countries who may become involved in this conflict.
Specifically praying for safety of the military men and women as well as the private citizens.

Almonds:
The incredible shrinking crop. Smaller sizes are hard to get offers on. Shipments are below last year, but more than the doubters have said. Late crop is coming in slowly. Market is firming/firm. Despite the firming market, prices remain attractive and will need to stay that way with a 800 million pound carry in.

NPS $2.00-$2.35
ABCs $2.25-$2.55
Cal/Carmel $1.75-$2.10

Pecans:
China is buying in Georgia and Sonora Mexico currently. The quality in Sonora is not up to their high standards so Georgia should sell much more this year. This should leave a lot of sheller stock in Sonora needing to be sold quickly.

Crop is 2-3 weeks late and looks to be bigger than expected in Old Mexico, that being said, quality there will likely suffer. Combine this with a large Native crop in the US, there should be plenty of pieces this year. Crop in the US is around the 300 million mark and, combined with a likely 350 in Mexico, looks as if there will be plenty of pecans. Sheller stock inshell is not yet in full swing and the market has not yet been set. Hang on for just a little longer for the market to find itself.

FJMH $4.40-$4.60
Fancy Pieces $4.40-$4.60

Walnuts:
Carry in of 56,469 tons. Looks like there is a lot of Light material this year. Harvest conditions have been near perfect. Very good pre-booked domestic sales have given the market a much needed boost. The revised estimate is 760,000 tons, up 1 percent from last year.

LHP 20 $1.70-$1.80
CHP 20 $1.55-$1.65

Cashews:
Vietnam has had strong sales and yet the prices do not seem to reflect this. The uncertainty in the Middle East has caused many to use extra caution with regard to shipments into that region.

WW 240 $3.00
WW 320 $2.80
LP $1.70

Pistachios:
The carry in is 197,457,210 million pounds. Shipments have been strong and prices do not reflect this. The opening price of $3.15 was a shock to most. This cheap initial price caused a flurry of contracts, the opinion is that the industry is over 50 percent sold.

18-22 X number 1 $3.45
21-27 X number 1 $3.25
80 percent whole $7.60



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