Limited Contracts Have Peanut Producers Turning To Another Crop
By: Jamiese Price
Updated: April 10, 2012
The unseasonably warm weather has some peanut growers planting a month ahead of time.
But with limited and low contracts many growers aren't taking advantage of the warm weather.
Henry County Extension Coordinator Jimmy Jones said even though the market for peanuts is good, the contracts just aren't there this year.
Four months ago peanut contracts were up to $1,000 a ton, and now they've dropped $600 a ton.
Jones said many growers are planting more cotton instead.
"We're talking about cotton being the most profitable crop with the market today. It would take a $760 peanut to equal what cotton is bringing in right now at 89 and 90 cents for cotton, " said Jones.
Jones said while farmers are turning to cotton as the cash crop this year, he believes there's still a need for peanuts.
Jones said based on last year's production the shelling market could run out of peanuts around August 1st.
