Back in the early 70's, I was a stock broker and they made us get a commodities license. Prior to that I was a dairy deli buyer for Wakefern, Shop Rites warehouse.
At that time, the farmers decided to slaughter the hogs and cattle rather than feed them, and prices came tumbling down. I knew there would have to a shortage if they kept on killing the animals. Pork belly prices fell to the lowest prices I've ever seen.
Sure enough, about a year later I started buyin up belly futures, and turned $3000 into $250,000 which I used to move and start a business in California. Maybe it could happen again so keep an eye on bellies. right now they're too high and would have to fall a lot.
At that time, the farmers decided to slaughter the hogs and cattle rather than feed them, and prices came tumbling down. I knew there would have to a shortage if they kept on killing the animals. Pork belly prices fell to the lowest prices I've ever seen.
Sure enough, about a year later I started buyin up belly futures, and turned $3000 into $250,000 which I used to move and start a business in California. Maybe it could happen again so keep an eye on bellies. right now they're too high and would have to fall a lot.
