Peanut Market Update and $1,000 Per Ton Peanuts
Tuesday, October 11th, 2011
The 2011 peanut crop has been a mixed bag. The irrigated southwest corner of the state is making tremendous yields (5,000+ lbs/acre with some fields going nearly 7,000 lbs/acre). This is a real tribute to our peanut breeders and new varieties. When we get out of the highly irrigated southwest corner peanut yields fall off dramatically. It is estimated only 45% of Georgia’s peanut crop was irrigated in 2011. The nearly two months of drought and high temperatures from mid-July to mid-September really took its toll on the peanut and cotton crop. The weather station in Douglas recorded 1.93 inches of rain on July 16, than we received only two rains of over a half-inch (.61 inches on July 26 and .59 inches on August 21) until we got over two inches on September 20. I don’t know how they did it but several dry land fields are going between 2,500-3,000 lbs/acre but a high percentage are going Seg.3. In talking with farmers and local peanut buying points, I would estimate 20% of our overall peanut crop and 50% of our dry land crop is going Seg. 3. The short peanut crop has led shellers to offer $525 per ton for Seg. 3 peanuts. These peanuts are being cleaned and than chemically tested to move into the edible market. Areas of Georgia’s peanut belt have fared worst then us. Dr. John Beasley, University of Georgia Extension peanut specialist, has walked through fields yielding 0-200 lbs/acre.
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