| December 2007 shipments were a
record 94.5 million
lbs.
Up
slightly from December 2006 – the previous record
Domestic
shipments were down 18.4% and exports were up 8.8%
Pricing
has remained flat for the past three weeks following a minor firming
after the release of last month’s position report.
SHIPMENTS/DEMAND:
December
shipments were less than the overall shipment trend so far, which are
up 14.4% vs. last season. Below is an overview of shipments for the
season:
|
Region
|
% Market
|
% Growth
|
|
Western
Europe
|
37.3
|
19
|
|
U.S.
|
29.3
|
4
|
|
Asia
|
18.2
|
15
|
|
Middle
East
|
7.3
|
54
|
|
Rest
of North America
|
4.1
|
21
|
|
Eastern
Europe
|
2.4
|
20
|
The
decline in domestic shipments for December is surprising, as we
thought the erratic trend had stopped.
Domestic
shipment figures, ’07 crop vs. ’06 crop, by month:
August
+28 September +4 October –6 November +19 December –18
THE
2007 CROP / RECEIPTS:
Receipts
as of December 31 were 1.314 billion lbs, up 24.5% from the same time
last season. There are still a handful of shellers with unshelled
inventory, the majority of which should be reflected in the next
position report.
THE
OUTLOOK:
Shipments
for December were another record but below expectations, making the
next shipment report more critical, particularly domestic shipments
for January. Were the domestic shipments for December a fluke? The
high level of domestic commitments (161 vs. 120 million lbs.) could
be a sign of stronger domestic shipments to come. Much of the focus
now will also turn toward weather conditions for February, with bloom
just a month or so away.
|
