California Almond Crop Estimate: 2.05 Billion Lbs.
Per Acre: 2280 lbs. (+7%)
Bearing Acres (Trees planted 2013 or earlier): 900,000 (+1%)
VS. Subjective estimate of 2.0 Billion lbs: +2.5%
VS. 2015 Receipts to-date of 1.894 Billion: +8.2%
Nut set per Tree: 6159 (+4.9%)
Trees per Acre: 116 (up from 114)
Kernel Weight: 1.48 grams (+3.5%)
NASS found similar thickness & width, but found length up 3% from last season.
Industry expectations were in the 2.10 to 2.20 billion lb. range with just a few below this. So today's report seems to be bullish news for the almond market.
Posted here is the NASS 2016 Objective Report
Posted here is NASS' Presentation
We will send additional info after the June Position Report is released on Tuesday July 12
Please feel free to contact us with your thoughts or questions.