Performance of Commodity Sub-Groups
Mike Panzner takes a look at the Commodity Research Bureau Index for 2007.
This year (2007), its is up 16.6%.
Given all the headlines about near-$100 oil, people might naturally assume the best-performer among the six sub-groups is energy.
That would be wrong.
In fact, the grains are the king of commodities during 2007. That sub-group, which includes wheat, corn, and soybean futures, has outpaced the CRB index by 34.61%, around twice that of the energy complex.
>
Performance of CRB Sub-Groups Relative to CRB Index (2007)
CRB % Thru
Sub-Group 12/26/07
=============== ======
Grains 34.61
Energy 17.19
Precious Metals 6.33
Industrials 0.31
Livestock -15.24
Softs -18.52
Monday, December 31, 2007 | 03:00 PM | Permalink
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Comments
C'mon...what inflation!!? Thought I'd get ya going...keep up the good work. Great '08 to ya
Posted by: Stev W | Dec 31, 2007 3:10:43 PM
They've been talking chart of the year on Bloomberg this afternoon and focusing on the three year yield and VIX charts. Combine those two with this post and you can sum up this year in the markets pretty closely.
Posted by: Florida | Dec 31, 2007 3:53:57 PM
So grain goes up but livestock, the things that should be eating the grain, are going down?
Obviously this is a product of Bush's ethanol policy. Or are people so broke they can't even have a cow any more?
Posted by: DavidB | Dec 31, 2007 4:39:33 PM
Lotta winter wheat being planted in my part of N. Texas. Former hay meadows and pastures were disked and reseeded to wheat in October.
I have not checked with the USDA but I'll put my money on beans in the teens in 2008.
I'm still feeding black beef critters so I know I'll eat next year. Don't know about you though!!!
The palladium PAMP necklaces were a big hit.
And so to all a happy new year...
Posted by: Ross | Dec 31, 2007 4:42:36 PM
No offense, but do you ever have anything positive to say? After all the negativity this year, the market is still holding up pretty well. How do you think 2008 will hold up? Thanks.
Posted by: mist | Dec 31, 2007 9:57:48 PM
"the industry maintains that it is illegal for someone who has legally purchased a CD to transfer that music into his computer."
This is the 1st of January, not April.
@_@
Posted by: Francois | Jan 1, 2008 12:18:15 AM
@nearpass:
I thought you were kidding, but no! These unbelievable imbeciles really are going after the very foundation of the doctrine of fair use.
That ANY judge in the country accept such a ridiculous case is beyond me.
"Copying a song to make a backup is stealing." gnagnagna!
What an supreme group of cretins!
Posted by: Francois | Jan 1, 2008 12:28:57 AM
>> offense, but do you ever have anything positive to say?
Mist, how does the posting of commodity returns count as "negative"?
Or, if you're reading BR's whole "inflation" theme into this single post, what's "negative" about *reality*? The US market has gone down, relative to the basic necessities of heating your home, driving your car, and eating your Wheaties.
So, if I may flip the question around without causing too much offense: why must you be negative over someone wanting to perceive reality and discuss it? Seriously, why criticize Barry? Did commodities NOT behave the way he quotes? Or is this a case of someone not being able to "handle the truth"?
Posted by: wunsacon | Jan 1, 2008 4:10:03 PM
^^^^ wunsacon is a smart dude.
seriously why complain about what some stranger writes in his blog? you're not even paying for it. if you don't like it, just close the browser window. sheesh.
let us be curmudgeons in peace.
Posted by: m3 | Jan 1, 2008 7:11:20 PM
Nearpass. No kidding. Here I am copying my scratched CD's to my computer. CD's I haven't even listened to for years. All to put them on my ipod (not to share) which I can plug into my stereo in the living room. I can't wait for iTunes and windows media to start a) blocking me from copying tunes from a cd to the media program and/or b) reporting my copying of tunes from a cd. lovely.
And Mist is looking for something positive..... The sun came up. how's that?
Posted by: montaigne | Jan 1, 2008 11:45:33 PM
What wunsacon and m3 said, geez.
Why don't some people start their OWN blogs and put up rosy senario and see if they get as many eyeballs as Barry.
Posted by: me | Jan 2, 2008 11:45:39 AM
DavidB: "So grain goes up but livestock, the things that should be eating the grain, are going down?"
How about:
1) Grain costs have increased a lot, so farmers slaughter their animals instead of rearing them for next year
2) This oversupply of (beef/pork) keeps livestock prices down
3) Next year, once all that (beef/pork) has been consumed AND there is now less livestock for slaughter, beef prices rocket upwards
So...buy some livestock futures today!
Making money is gonna be so easy this year.
Posted by: 2and20 | Jan 2, 2008 2:11:34 PM
