Cattle Prices Stampeding
Cross-posted from Real Economics.
Courtesy of Barry Ritholtz at his The Big Picture. Go look at the chart - very scary. Ritholltz notes: "MacroMan points out that Live Cattle Futures have gone parabolic; Daniel Dicker blames speculative derivative traders and a lack of oversight as the cause."
In related news, a commenter at Naked Capitalism noted that "Iron ore prices soar to record high? – Iron ore prices have hit an all-time high as supply disruptions in India, the world’s third-largest exporter of the steelmaking commodity" and "Pakistan’s cement sector is likely to feel the heat of the soaring international prices of coal, going forward. Global coal prices continue to climb, already 34% up since June 2010."
Yeah, well, thank God there's no inflation, or we'd really be screwed. (snark)