Peanit Production Plunges
WASHINGTON - Aug 12/13 - SNS -- Peanuts production is forecast at 3.85 billion pounds, down 43% from last year, according to the USDA's latest crop production estimates.
Area for harvest is expected to total 1.06 million acres, unchanged from June but 34% lower than 2012. Based on conditions as of August 1, the average yield for the United States is forecast at 3,620 pounds per acre, down 572 pounds from last year. A record high yield is expected in Oklahoma where most of the peanut growing area has received sufficient rainfall.
As of August 4, 63% of the United States acreage was rated good to excellent, compared with 69% the previous year. Pegging was at 88%, 2 percentage points behind last year but 1 percentage point ahead of the 5-year average.
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