Marc Faber also likes beef producers.
AAC could be a good medium term buy around these levels.
Corn Costs Signal Biggest Beef Surge Since 2003 as Herds Shrink
By Jeff Wilson
May 27 (Bloomberg) -- Enjoy your next steak, because prices from Shanghai to San Francisco are only going up.
The highest corn prices since at least the Civil War, based on Chicago Board of Trade data, mean U.S. feedlots are losing money on every animal they sell, discouraging production as rising global incomes increase meat consumption and a declining dollar spurs exports. Cattle may rise 13 percent by the end of the year on the Chicago Mercantile Exchange and Brazil's Bolsa de Mercadorias e Futuros, futures contracts show.
http://www.bloomberg.com/apps/news?pid=20601087&sid=axIrowbBQ7fo&refer=home
beef prices to soar.
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Last
$1.38 |
Change
0.020(1.47%) |
Mkt cap ! $831.8M | |||
| Open | High | Low | Value | Volume |
| $1.40 | $1.40 | $1.36 | $360.0K | 262.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 150000 | $1.38 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.39 | 18176 | 3 |
View Market Depth
| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| AAC (ASX) Chart |