As peanut growers round up a season that is expected to produce a record or near record yield, any that still have any unsold stock are no doubt going to be looking closely at prices.
In the latest Peanut Prices report from the National Agricultural Statistics Services, released Nov. 23, peanut prices received by farmers for all peanuts averaged 34.0 cents per pound during the week ending Nov. 17. That was up 1.7 cents from the previous week. Marketing of all farmer stock peanuts for the week ending Nov. 17 totaled 72.2 million pounds, down 14 million pounds from the previous week.
Runner-type peanuts averaged 33.5 cents per pound for the week. That was up 3.1 cents from the previous week. Marketings of runner type peanuts were 55.0 million pounds, a total which was down 200,000 pounds from the previous week.
The price of Virginia-type peanuts, the type growers in the Carolina-Virginia region are best known for producing, seem to be trending down in price. In the week of Nov. 17 the price for Virginias was 36.2 cents per pound, slightly lower than the 36.4 cents they brought during the week ending Nov. 3, lower than the 37.0 cents they brought during the week ending Oct. 27, and lower still than the 38.1 cents they brought during the week ending Oct. 20. Marketings for Virginias the week ending Nov. 17 were 15.438 million pounds.
North Carolina peanuts are forecast to set a record for yield this year, with an expected yield of 3,800 pounds per acre, topping the previous N.C. record by 100 pounds. That previous record was set in 2009 when growers produced a yield of 3,700 pounds per acre. The forecast 3,800-pound yield is 200 pounds per acre above the 10-year average yield of 3,600 pounds per acre. If it comes to fruition, the 2012 forecast yield will be a significant 659 pounds per acre above the yield of the previous year.
To read the complete Peanut Prices report of Nov. 23.