Did day trading before so I know it’s money to be made right now. But I have no idea where the virus, people, gov+++ is going at the moment and guess nobody really know and that’s why most markets are volatile. I will hopefully be on a long ride up.
That’s why a bit safer to take 2-4 year view.
You make a $10,000 bet on commodities options and if it doesn’t go up, well that in all likelihood means it’s been game over for everyone, but if it turns around a killing can be made.
This is all about supply/demand disruptions on a mega-scale.
Almost three dozen ships – scattered in waters from Long Beach to the San Francisco Bay – are mostly acting as floating storage for oil that’s going unused as the coronavirus pandemic shutters businesses and takes drivers off the road. Marathon Petroleum Corp.’s refinery in Martinez, California, has been idled and others, including Chevron Corp.’s El Segundo refinery, have curtailed crude processing as the state orders residents to stay at home.
The more than 20 million barrels of crude is the highest volume of crude to ever float off the West Coast at one time, according to Paris-based Kpler SAS, which tracks tanker traffic. About three quarters of those tankers are holding oil in storage, meaning they have been floating steadily for seven days, also a record.
As pork, beef and chicken plants are being forced to close, even for short periods of time, millions of pounds of meat will disappear from the supply chain. As a result, there will be limited supply of our products available in grocery stores until we are able to reopen our facilities that are currently closed.”
“Farmers across the nation simply will not have anywhere to sell their livestock to be processed, when they could have fed the nation. Millions of animals — chickens, pigs and cattle — will be depopulated because of the closure of our processing facilities. The food supply chain is breaking.”
All those buying meat at CostCo in Taiwan, better go soon. Meat exports likely first impacted.
EVERYONE GO VEGAN! THERE WILL BE NO MORE ANIMAL PRODUCTS!!
But you’re probably right. They’ve been saying for a few days now that meat supplies in the US will be disrupted by the COVID cases at the packing plants. We can expect a price rise at least.
I’m not surprised. Unlike TP, meat isn’t something that you can just ramp up to 24/7 production. It requires humans which require PPE. Maybe we really will need to move towards more plant based diets…better get them greens growing in the window.