Why was trading in pork belly futures an important (or at least very
popular) component of the meat packing and hog raising industries for
39 years and is now, in year 40, completely passe?
Pork bellies and pork belly futures contracts were delisted for
trading by the Chicago Mercantile Exchange on July 18, 2011.
According to the G&M, there were 4500+ contracts in 2010 through June;
just two in 2011, the last in February.
There are more people. They still buy bacon. There are more Asians
(both here and there :-) and they still make Asian pork dishes. There
may be an increase in rich people who go for fat-free nouvelle cuisine
but there's a larger increase in poor people for whom bacon is
acceptable, even preferable.
There must be an elephant in the room that I can't see. Somebody give
me a clue here.
- Mike
--
Michael Spencer Nova Scotia, Canada .~.
/V\
[email protected] /( )\
http://home.tallships.ca/mspencer/ ^^-^^
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