As we continue our recap of Northwest Farm Credit Services 2017 Snapshot, we turn our attention to the Tree Fruit Industry. Karen Witt NWFCS Vice President said Washington apple growers should see positive profits for this season’s crop.
“Early reports for the 2017-18 crop shows strong demand and pricing. Washington’s crop is projected to be the third largest on record. Smaller crops in other U.S. growing regions and across the globe provide good marketing opportunities for the Washington crop this season.”
Witt noted domestic demand is stable and a weaker U.S. dollar will boost export demand. Looking at the cherry crop, Witt says this season’s Northwest cherry crop set a record at 27 million 20-pound boxes.
“Cherry growers with pre-Fourth of July product are profitable due to a smooth transition from California’s crop and manageable supplies leading to favorable prices at the start of the season. However, growers supplying cherries to the market post-Fourth of July will likely see losses, especially if coupled with small fruit size or quality issues.”
When it comes to pears, Witt says profit margins are expected to be narrow this season. The total Northwest crop is projected up 2.3% from last year; however, production is still below historical levels.
Join us Thursday as we turn our attention to the row crops.
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