Earlier quoted context omitted.
I'm sorry, but this is completely wrong. California canning peach farmers are organized and crop prices are set by industry-wide bargaining with processors every year. Additionally, now that Del Monte is out of the business, the only remaining operating canneries are owned by a grower cooperative. It didn't save the industry. In fact, it may have led to the irrational planting of these trees that now need to be pulle…
He saw demand falling or what? What did he swap to?
He switched to almonds and walnuts, which are less labor intensive and have better management on the processing side. But they are an export-heavy market and have also been hammered by the strong dollar. Inflation-adjusted crop prices are near all time lows while costs are at all-time highs. Farming is a hard business!