Florida Citrus Stuck in Crop Forecast Funk

Florida Citrus Stuck in Crop Forecast Funk

A troubling downward trend for the Florida citrus market has come to a halt – at least when it comes to the USDA crop forecast. The previous three estimates revealed marked declines in production. In April’s outlook, the bleeding has stopped.

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According to USDA, the updated all-orange forecast remains at 67 million boxes (33 million boxes of early, midseason, Navel, and Temple varieties; plus 34 million boxes of Valencias).

The estimate for Florida grapefruit dropped 800,000 boxes to a total of 8.1 million boxes. Just for comparison’s sake, the grapefruit crop during the 2003-2004 season was 40.9 million boxes.

USDA is slated to drop its next crop report on May 10.