What does this mean for peanuts?
The weather man says we will continue in a hotter and drier weather pattern at least through the Winter. Well we don't grow peanuts in the winter so who cares at this point?
We should all care. Winter is typically the time we charge ponds for irrigtion and recharge subsoil moisture. Many of the ponds are empty and for sure the subsoil moisture is depleated in many areas of the peanut growing belt.
My best advice to farmers is be making plans as soon as you see a price on commodities which can make you money. If the peanut industry fails to get a decent contract out early and I do mean something good before Christmas then do the prudent thing and try to lock in some profit opportunities.
I hope 2011 taught the rest of the industry a lesson but I am concerned they still have not figured it out.
It might be a good time to remember pigs get fed but hogs go to slaughter. Don't get greedy but be sure to look at the market fundamentals of everything.
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