I should have described it as gummosis not frass. Scraping it off just reveals the bark beneath, with only the tiniest hole or crack identifiable as the source of the oozing gum. I had thought I might find burrow holes indicating a peach bark beetle or a shothole borer but could not find any such thing after excavating several spots. (Those two possibilities were the best I could some up with from the Tree Fruit Field Guide.) Bird poop on a few branches, but that hardly qualifies as evidence of birds pecking holes. Also, there were branches where the gum was on the underside of the branch.
Today I discovered two instances where the smaller branches off the somewhat larger branch with the gummosis are dead or dying. These are 12 year old trees, past the average life expectancy of a peach tree I think. Lots of cracking and peeling bark on the older branches.
I am tempted to remove and burn the branches with severe gummosis.
Turkey Creek Orchard
Solon, Iowa (zone 5A)