Peanut growers hold annual meeting

The Panhandle Peanut Growers Association held their annual meeting at the Quail Community Center on Tuesday, February 25.

Peanut broker George Lovatt was the keynote speaker, discussing market demand and industry outlook. Lovatt said demand for US peanuts is growing slowly on the global market but said China continues to be an unreliable market.

Lovatt repeated that peanut growers are “in the cotton business” and pointed that the outlook for peanuts often depends on the outlook for cotton. Trends show that the number of cotton acreage is decreasing, particularly in the southeast, and that typically leads to an increase in peanut acres, he said.

There is also some pressure in the market to convert more acres to high oleic peanuts but that is only among certain companies. High oleic peanuts contain a higher amount of oleic fatty, the so-called “good” fat that is better for human health.

PPGA President Michael Newhouse said most of the peanuts grown in this region are already varieties that are high oleic. Newhouse said certain food industry companies like high oleic peanuts because they have a better shelf life.

The group also heard from Bob Whitney, a peanut specialist with the Texas Peanut Producers Board, who said 2019 saw a higher price and slight increase in peanut acres over 2018.

Peanut growers took advantage of good contract prices while seeing cotton prices drop to new lows, Whitney reported.

Republican 13th Congressional District candidate Josh Winegarner and District Attorney Luke Inman both addressed the group with just seven days to go before the primary election.

The PPGA recognized outgoing board member Kelly Horton for his 29 years of service, and Mary Ruth White was recognized on her birthday for her support of the development of the PPGA.