USDA Releases October Peanut Stocks and Processing Report
Reports from Washington have been delayed due to the government shutdown, but the USDA Department of Agriculture has now released the Peanut Stocks and Processing Report for October. This report covers the third month of the marketing year, which begins in August, and provides insight into peanut supply, processing, and commercial stocks.
As of October 31st, total peanut stocks in commercial storage were 3.92 billion pounds, combining both new and old crop peanuts. This represents a 16% increase compared to 3.37 billion pounds at the same time last year.
Breaking it down by type, shell peanuts—the form commonly used by processors—totaled 739 million pounds, up 34.1% from last year. October roasted peanuts were measured at 35.5 million pounds, showing only a 1% increase. Overall, total shell peanut stocks reached 556 million pounds, marking a 34.3% rise from the previous year. These numbers indicate that there are extra peanuts in the supply chain, emphasizing the importance of expanding markets to absorb the increased availability.
On the processing side, commercial processors used 189 million pounds of shell peanuts in October, roughly the same as last year. This steady usage suggests demand from processors has remained consistent, even as stocks have grown significantly.
The report highlights the importance of market development to balance the higher peanut supplies, particularly in shell peanuts. With stock levels significantly up, industry leaders and marketers will likely focus on expanding domestic and international consumption to maintain stable prices and avoid oversupply in the market.
The USDA Peanut Stocks and Processing Report is a key resource for farmers, processors, and industry stakeholders to track supply levels, production trends, and processing demand as the marketing year progresses.
Audio Reporting by Tyron Spearman for Southeast AgNet.