Friday, May 6, 2011

"The Only Commodity We Care About Is Bacon"

First up, a look at the relative strength in hogs yesterday, from EconompicData:

Getting more specific, pork bellies via Finviz:

And our headline story from LOLFed:
Silver’s down? Well, call the Lone Ranger, that’ll cheer him up. Gold and oil, too? We could prattle for ages about whether the loller dollar’s rebound will continue to send shockwaves through the commodities market, but we won’t.
We just want to talk about bacon. Namely, the unmitigated pork cravings by those who dig on swine, and the record highs forecasted for the pork belly market.
First, consumption is up:
Pork belly prices are on pace to set records this summer as restaurants add bacon to everything from salads to sundaes. About 44% of U.S. consumers will eat bacon within a two-week period, which is a record high, according to consumer studies conducted by the NPD Group, a Port Washington, N.Y.-based market research firm.
Only 44%? The other 56% of you are slacking (and don’t try to give me some religious or health excuse, this is sweet nectar of hog we’re talking about here). Anyway, demand is doing exactly what you’d expect to prices...MORE
And wool?
Wall Street is laying in a supply to pull over the public's eyes, of course.
[ummm...of course. Hey, is that a black helicopter? -ed]