Debt-to-asset ratios are on the rise, working capital is eroding and farmers’ sentiments are on the decline. Despite the negativity surrounding prices and outlooks, Famer Mac is providing a voice of optimism.
In some areas of California’s Central Valley, temperatures hovered in the low 20s for as long as five hours the night of Feb. 19 and into the morning of Feb. 20, putting citrus in the region in jeopardy.
The U.S. Department of Agriculture has expanded quarantined areas for citrus greening in California, Texas and Louisiana after the disease was detected in plant tissue samples in multiple locations in the states.
California growers are expected to produce 80 million cartons of navel oranges during the 2018-19 season, according to estimates from the U.S. Department of Agriculture. That’s an 11% increase over last year.