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March 12, 2006

Comments

nalgene

Beef futures prices didn't decrease this week even though:

1) Japan will continue to ban US Beef for the foreseeable future (I like Secretary of Agriculture Mike Johanns)

2) Hong Kong stopped the importation of US Beef this week because a bone shard was found in a shipment

3) The big one that the MSM missed--a ten year old cow was found in Alabama, which tested positively for BSE

In other Agricultural news from South America, Argentina and Brazil look to have healthy Soybean crops this year. The past couple of years have been a bust for Soy in South America, which caused a spike in US Soybean prices in 2004. Hog futures have held steadily above $60 for four years now. Finally, if anyone has insight into the technical pattern of Petroleum Futures, please help me figure this out.

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