As our seven part series on Northwest Farm Credit Services’ Quarterly Commodity Snapshot Series continues, today we’ve reached the halfway point with apples and cherries. When it comes to apples, Bill Perry, Northwest Farm Credit Services Vice President said their 12 month outlook anticipates growers will break even.
“Although prices are elevated for the current small crop and supply will clean up nicely before the 2021-2022 crop, low pack outs have hampered grower profitability. If a large 2021-2022 crop is realized prices will likely be subdued and capturing profitable returns will be challenging.”
Perry said when it comes to the cherry industry, their 12 month outlook expects growers to enjoy slight profits for the 2021 crop.
“Although yields are currently expected to be strong, removal of underperforming acres should result in a manageable crop. Good consumer demand will produce favorable pricing if growing conditions result in high quality fruit and growers can prune for appropriate fruit size.”
Join us Friday as continue with our Commodity Snapshot Series, as we look at pears and the wine industry.
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