NWFCS Expects Good Year For Fisheries, Forest Products, Nurseries
As we start to reach the final stages of our Northwest Farm Credit Services quarterly commodity snapshot series, today we look at fisheries, forest products and the greenhouse and nursery industry. Bill Perry, Vice President with NWFCS said their 12-month outlook foresees fisheries being profitable.
“Demand generally remains strong despite rising inflation and shifting consumption patterns. The Biden administration’s ban on Russian seafood imports may tighten pollock and crab markets, but the policy’s effectiveness is yet to be seen. Salmon supply and demand should be strong heading into its 2022 season. Northwest crab fishermen largely completed their catch before the recent price drop.”
Meanwhile, Perry said they expect both forest product manufacturers and timberland owners to be profitable in the year ahead.
“Lumber prices have dropped dramatically but remain at profitable levels. Douglas-fir log prices have peaked to pre-pandemic levels. Overall, the forest products industry should benefit from strong housing construction in 2022, but leading indicators suggest a potential slowdown heading into 2023.”
And when it comes to the nursery/greenhouse industry, Perry said profits are anticipated.
“Growers continue to face rising costs and shortages of inputs but benefit from strong demand and a willingness to absorb higher prices. Rising fuel and food costs may incentivize people to focus on home projects and grow more garden vegetables.”
Join us Tuesday as we conclude our quarterly commodity snapshot series with wheat and hay.
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