Almond Market Update December 2021 Week 49

After a long Thanksgiving weekend, the market once again picked up a little. However, with the shipping report due on December 14, buyers are a bit hesitant to make commitments. Growers are not backing lower prices and, even with the shipping reports, seem to be more than happy to wait to sell at higher prices.

From the buyers' side, there is an expectation that prices should fall, which hasn't happened yet so far this week. Inventories are increasing, and while the industry has attempted to set a floor price and wants to sell below the initial cost, this is not sustainable since this has been happening for two years in a row now.

There have been reports that the October shipment has been the worst compared to the same time last year. Usually, the month of October sets a precedent for the most shipments in a year, but due to shipment delays and congestion, this year, we're looking at the worst October shipment record.

After October, things are expected to get only better, but we'll have to see this as time goes by.

From California, it has been reported that the water situation is only getting worse with high temperatures and sentiment rains occurring almost every other day. There is a real concern that the drought has already damaged next year's crop, but until the weather changes substantially, we will just have to see.