Tuesday, April 5, 2011

Elevator Music

Elevator music is that horrible noise while the elevator moves up or down. Right now the CME elevator is headed down, or so it seems. Stick around and it will go back up sooner or later.

Rabo Bank is considered to have pretty good information. Here is what Rabo recently said about the dairy situation:

We therefore conclude that, while sentiment may play a dominant role in setting market direction through the balance of March and into early April, market fundamentals will reassert themselves and continue to provide strong support for prices,which will likely trade at close to the levels evident in mid March in international markets as we progress through Q2.

I think the point of elevator music is to numb your mind while you are trapped in a little box going up and down. There will be the usual chorus, humming a familiar tune to explain all you need to do is lock in some prices of something or other.

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