Bill Morecraft
Senior Vice President
On this month’s ABC Position Report, March shipments showed a very strong increase of 23 million lbs. (12.6%) over last year to reach a total of 208.2 million lbs. The U.S., driven by Covid-19 related retail demand, increased by nearly 19 million lbs. (31%). Export shipments were up by a more moderate 4.3 million lbs., with some dampening of demand due to supply chain concerns. Year to date shipments now stand at 1.681 billion pounds which is a 5% increase from last year.
New commitments were 174 million lbs., keeping total commitments 20% above last year. With the 2019 crop topping out just over 2.53 billion lbs., uncommitted inventory exceeds last year by only 39 million lbs….[Read More]