Market Update for Stone Fruit

Week of May 11 – May 17

California cherry growers continue to struggle through what has already been a difficult season. Repeated rain events across growing regions have affected both quality and condition, while high FOBs have made it difficult for retailers to establish aggressive Memorial Day promotions. Most store-level retails are currently sitting between $6.99 and $8.99 per pound, limiting consumer demand. As growers begin to realize that pack outs could drop below 50%, the thought of abandoning ranches in leu of filing insurance claims is starting to seem like a viable option now. Spot markets have traded below contracted pricing over the last week, though the market should begin to stabilize as Memorial Day approaches. Current pricing ranges from $56.00–$62.00 on 10 row, with 11 row trading between $48.00 and $52.00 FOB.

 

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